Shriram Housing Finance Limited (SHFL) and the International Finance Corporation (IFC), a World Bank member, have joined forces to launch an affordable green housing lending product for self-built homes.

The project will use IFC's excellence in design for greater efficiency (EDGE) certification tool for customers in the affordable self-construction segment, as well as the impact monitoring tool (CAFI) for green affordable housing reporting.

IFC will provide SHFL teams with training and capacity building in the principles and applications of the EDGE software, standards, and certification system. The training will assist SHFL in promoting green self-build houses to potential customers and assessing green components in built units for green certification.

Ravi Subramanian, Managing Director & CEO, SHFL said, “Who better than to partner with for our affordable green homes financing initiative than IFC. At Shriram Housing Finance, we are committed to the construction of affordable green homes. We believe that with the rising cost of living, energy-efficient homes are the way forward. Through the partnership with IFC, we intend to build the foundation for an eventual self-sustaining housing finance ecosystem for climate-smart, affordable homes.”

According to SHFL, it is committed to the sustainable housing initiative, and the EDGE certification will assist the company in identifying homes that focus on reducing their environmental footprint by at least 20% in energy, water, and embodied energy materials. With IFC assistance, SHFL will be able to advise homeowners in the affordable housing sector on how to build environmentally friendly homes.