Energy efficiency of the building sector in the focus of the UNDP and the Government of ArmeniaAug 31, 2017
In Armenia’s urban economy, buildings are one of the major sources of greenhouse gas emissions (GHG): 24 percent of the total GHG emissions is from the energy consumption in the buildings. At the same time, the building sector presents a significant energy saving potential, which is possible to realize through the effective use of modern energy efficient technologies and practices.
The United Nations Development Programme led – Green Climate Fund funded (UNDP-GCF) “De-risking and Scaling-up Investment in Energy Efficient Retrofits” project seeks to systematically de-carbonize the existing building stock in Armenia and reduce GHG emissions, while achieving sustainable development benefits. It is envisaged to ensure about 50-60 percent energy saving through buildings thermal insulation, thus resulting in budget savings and contributing to country’s energy security.
Today, the inception workshop of the Project took place in the “Tigran Mets” hall of the Marriott Hotel. The goal of the workshop was to present the main objectives and planned activities of the Project, as well as the existing international experience and achievements in the building sector for enhancing energy efficiency.
Bradley Busetto, UN Resident Coordinator/UNDP Resident Representative in Armenia, Artsvik Minasyan, RA Minister of Nature Protection, Kamo Areyan, First Deputy Mayor of Yerevan, Adriana Dinu, Executive Coordinator, Global Environmental Finance, Bureau for Policy and Programme Support, UNDP, addressed the workshop participants, which included representatives of various ministries and agencies, international and non-governmental organizations, banking community and the private sector.
The UNDP’s experience, lessons learned and key conclusions from the implementation of various projects aimed at enhancing the energy efficiency and encouraging energy savings in the building sector were presented during the workshop.
The Project, addressing both public and residential buildings, focuses on creating a favorable market environment and a scalable business model for investment in energy efficiency retrofits by addressing market barriers. These barriers to energy efficient building renovation are addressed through a combination of policy and financial de-risking instruments and targeted financial incentives to key market players and beneficiaries.
As a Project with global environmental significance, it is funded by the GCF, which acts as the financial mechanism for the UN Framework Convention on Climate Change. The Project is the 10th signed by the GCF globally and the first one in the Eurasian region. It is implemented in close cooperation with national partners - the RA Ministry of Nature Protection, Yerevan Municipality, and other stakeholders. The budget of the six-year project is USD 20 million.
For additional information about the Project, please visit the following website: http://nature-ic.am/en/projects/De-Risking-Investments-in-EE-Buildings/18