CONFERENCE BUILDING A GLOBAL ENERGY EFFICIENCY FINANCING ALLIANCE
On the 16-17 September 2015 a two-day conference, “Building a Global Energy Efficiency Financing Alliance”, held by the European Bank for Reconstruction and Development (EBRD) jointly with the United Nations Environment Programme Finance Initiative (UNEP FI) took place in Istanbul, Turkey.
Opening the conference, Josué Tanaka, Managing Director for Energy Efficiency and Climate Change at the EBRD, said: “Investing in energy efficiency makes economic sense and the current financing gap represents a huge business opportunity.
Sergey Smirnov, the Deputy CEO of Center-invest Bank – an active partner of the RuSEFF Programme, attended the conference as one of the speakers. He shared the experience of financing energy efficiency projects in the South of Russia.
Center-invest Bank disbursed more than RUB 11 billion for improvement of energy efficiency of commercial enterprises, residential buildings and infrastructure. Implementation of these projects reduced CO2 emissions by 147,000 tonnes per year and kept preserved over 60,000 hectares of trees).
The EBRD has played a pioneering role in driving private sector funding to this crucial sector. Its Sustainable Energy Finance Facilities (SEFFs) – especially designed to support financial institutions fund energy efficiency in corporate, municipal and residential sectors – have been successfully implemented in 22 countries and attract significant levels of demand.
Today the EBRD works with over 100 banks, leasing companies and microfinance institutions, reaching over 1,000 enterprises and 15,000 households annually. Since the launch of the EBRD’s’s Sustainable Energy Initiative in 2006, over €3 billion has been committed to SEFFs, resulting in over 80,000 loans. These credit lines are being supported by 16 donors including the EU and the Austrian government.
Over the past 10 years, the EBRD has invested a total of €13 billion in energy efficiency both through direct deals and in partnership with commercial banks, encouraging third party investment for projects worth a total of €84 billion and estimated to reduce greenhouse gas emissions by over 60 million CO2 tonnes per year.