“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits”- Armenia

Diana HarutyunyanClimate Change Program Coordinator

UNDP Armenia

“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits” GCF project 2

GCF Project Proposal

The project environment objective is to achieve reduction of greenhouse gas emissions,Where: residential and public buildings,How: thermal insulation and improved energy efficiency Toolkit: complex measures including legal, organizational, combination of grant and loan financial resources, active involvement of municipalities and private sector

“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits” GCF project 3

GCF Project Relevance• In Armenia, about 24% of total greenhouse gas emissions originates

from energy use in buildings• About 30% of Armenian residents are considered in energy poverty• More than half of energy consumed in buildings comes from

imported fuel • Thermal insulation in buildings can ensure at least 50% energy

saving in energy consumption• Energy efficiency as priority is stated in Armenia’s energy security

strategy and National Energy Efficiency Action Plan, climate policy (INDC). NAMA on Energy Efficient Public Buildings and Housing is developed and submitted to the UNFCCC NAMA Registry for building sector.

“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits” GCF project 4

GCF Project Components1. Establishment of Building Sector MRV by providing technical assistance to the relevant national authorities.2. Policy De-Risking by covering the cost of developing enabling policies for energy efficient retrofits. 3. Financial De-Risking by rendering technical assistance to coordinate design of relevant instruments with UNDP’s partners, and to identify their cost-effective and harmonized set for further take-up by the domestic financial sector. 4. Financial Incentives by supporting direct incentives to building owners to jump-start the market and address affordability of the upfront cost of energy efficiency retrofits.

“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits” GCF project 5

GCF Project Expected Outcomes

• CO2 emissions reduction: 55,000 ton per year• Energy Savings: 210 GWh per year• Beneficiaries: 200,000 person• Thermally retrofitted buildings:

- Detached homes: 6,000- Multi-apartment: 290- Public: 170

• SDGs covered: 13 Climate Action, 11 Sustainable Cities and Communities, 7 Affordable and Clean Energy

“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits” GCF project 6

Transformational ImpactThe project is specifically designed to support the NAMA : • Support policy, regulatory, institutional and market transformation, • Contribute to improved energy performance of public and residential

buildings, reducing energy bills and consumption of fossil fuel. • Support transformational change to a low-emission development

pathway in the longer term. • Contribute to improving Armenia’s energy security. • SDGs covered: • 13 Climate Action, • 11 Sustainable Cities and Communities,• 7 Affordable and Clean Energy

“De-Risking and Scaling-up Investment in Energy Efficient Building Retrofits” GCF project 7

Thank you!

Diana.Harutunyan@undp.orgwww.nature-ic.am