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Energy Access & Efficiency

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The energy sector is the main source of global greenhouse emissions. Enhancing energy efficiency is a key solution to stay below 2°C global average temperature rise. Energy efficiency has great potential in transport, buildings, industry, equipment and appliances and it simply makes economic sense. Photo © Abbie Trayler-Smith/DFID

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Photo by: Josh Boles (Flickr)

Contacts: 

  • Annie Degen, Special Advisor Long-Term Finance and Energy Efficiency Coordinator, UNEP FI, and member of the Secretariat of the G20 Energy Efficiency Finance Task Group (G20 EEFTG), Annie.degen@unep.org ; T: +33 1 44 37 46 97
  • Sarah Challe, Energy Efficiency Finance Consultant, UNEP FI, arah.challe.affiliate@unep.org ; T: + 33 1 44 37 42 59
  • Josué Tanaka, Managing Director, Energy Efficiency and Climate Change, EBRD, TanakaJ@ebrd.com ; T: +44 20 73386364

Launched in September 2015 by the European Bank for Reconstruction and Development (EBRD) and the UN Environment Program Financial Initiative (UNEP FI), the ‘Statement by Financial Institutions on Energy Efficiency Finance’ aims at informing banks from all regions, and at mobilizing them to express their interest in financing energy efficiency. It contributes to increasing the visibility and awareness on the topic, while highlighting the key contribution of banks.

The objective is for banks to embed energy efficiency finance into their strategy and business operations and further promote the topic to their clients, therefore initiating an in-depth transformation of those institutions. This initiative is open to a broad range of financial institutions including commercial banks, micro finance and leasing companies.

The Statement encompasses nine points through which banks recognize the importance of energy efficiency and the opportunity it represents, and commit to contribute to scaling up energy efficiency investments.

Key commitments:

  • Contributing to scaling up energy efficiency financing;
  • Working towards tracking the amounts of finance going to energy efficiency;
  • Further exchanging with their clients to guide them towards energy efficiency financing decisions;
  • Working with institutional and public financiers that seek to deploy energy efficiency finance;
  • Sharing their experience on energy efficiency finance and strive to learn from best practices in the sector to enhance their activity of financing energy efficiency.

As of mid-November 2015, more than 100 banks had signed the Declaration representing 42 countries, mostly in Central, Eastern and Western Europe, Central Asia, as well as in Asia, Africa and Latin America.

Both EBRD and UNEP FI will regularly exchange with the signatories of the Statement on their progress and potential difficulties in attaining the objective of the Statement. This will contribute to an informal follow-up of the development of practices of banks and their sharing.

Photo credit: Josh Boles (Flickr)

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