Fast-Infra Label at the WAPPP Abu Dhabi PPP Forum

The landscape of sustainable infrastructure investment is evolving, and the FAST-Infra Sustainable Infrastructure® (FAST-Infra) Label is emerging as a pivotal player in this transformation. In a recent panel discussion in Abu Dhabi for the World Association of PPP Units and Professionals (WAPPP) Forum. Prominent speakers in infrastructure and public-private partnerships (PPPs) met to discuss the Fast-Infra Label and its practicalities.

The session began with Mr. François Bergère, the moderator and CEO of FAST-Infra Group. He provided an overview of the Fast-Infra label. The label is a one-stop shop and is meta-standard. Building upon existing standards such as the EU taxonomy and local frameworks. Morgane Huchet, Senior Project Manager at the Global Infrastructure Basel Foundation, highlighted the label's significance in addressing the market's need, especially for private sector funds to support sustainable infrastructure. Launched in 2020, the initiative boasts a multi-stakeholder group comprising organizations like HSBC, GIF, the World Bank, IFC, and OECD, governed by influential entities in the infrastructure sector.

Morgane delved deeper into the practical aspects of the label. She underlined a digital platform developed for applying to the label. This platform enables projects to report sustainability against the Fast Infra framework efficiently. The framework comprises four dimensions and 14 specific criteria. The application process includes a FAST-Infra Self-assessed Label, obtained through a free automated tool, and a FAST-Infra Verified Label, requiring third-party verification at a cost. The goal is to facilitate quick and efficient reporting, particularly for projects in development.

Mr. François Bergère, called attention to the label's focus on energy projects. Focusing particularly on the assessment of photovoltaic (PV) and wind projects in 2023. The label plans to include more projects, geographies, and technologies in during its Roll Out V0.2 (Q1-Q2 2024). Also encouraging diverse project types, such as rail and wastewater, to apply.

Mr. Atter Hannoura, the Director of the Central PPP Unit in Egypt, who manages PPP projects across various sectors, analyzed the challenges faced by practitioners. He recommended a robust framework to navigate green financing requirements. The Label’s pioneering rolling in raising awareness and increasing the reach of sustainability initiatives was highlighted, along with its role in capacity-building on accessing funds and managing sustainable infrastructure projects.

Mr. Jean-Christophe BarthJean-Christoph, is an international mediator and Executive Director of WAPPP, specializing in governance and deal mediation for better public-private partnerships. He reviewed the value of the label for PPP units. Envisioning it as a tool to promote harmonization, benefit municipalities, and enhance cross-border projects. He views it as a chance to build a portfolio of green projects that de-risk investments and improve public perception. The label serves as a tool to provide a clear signal to the market about sustainable infrastructure. By streamlining due diligence processes, it reduces time and costs.

Mr. Henri Blas, the Chief Content Officer at the Global Infrastructure Hub, provided insights from the G20 perspective. Prioritizing the evolution of consensus on sustainability standards, citing the G20's adoption of Quality Infrastructure Investment (QII) principles, he addressed the indirect benefits of the Fast-Infra initiative in influencing regulatory treatment.

facilitatingThe concluding remarks explained the broader initiative behind the Fast-Infra Label, from being a collaborative digital, open-source platform to facilitate data exchange among stakeholders. The audience was encouraged to engage with the initiative, explore the resources, and submit projects for testing.

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