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Launch of the first Caribbean Regional Energy Efficiency Pilot Financing Facility

 

“Belize to launch the Caribbean’s first Energy Efficiency Financing Facility under the Energy for Sustainable Development in Caribbean Buildings (ESD) Project”

PRESS RELEASE – Belmopan, Belize; October 17, 2017 – The Caribbean Community Climate Change Centre (CCCCC/5Cs) and the Development Finance Corporation (DFC) are scheduled to sign a Memorandum of Agreement launching the first Caribbean Regional Energy Efficiency Pilot Financing Facility for investments in Energy Efficiency (EE) and Renewable Energy (RE). The event is scheduled for Tuesday, October 17, 2017, at 10:00 a.m., at the CCCCC Training Room, Lawrence Nicholas Building, Ring Road, Belmopan, Belize.

The new EE Financing Facility was made possible with a grant of USD 200,000 under the Global Environment Facility-United Nations Environment Programme (GEF-UNEP) Energy for Sustainable Development in Caribbean Buildings (ESD) Project, with co-financing of USD 800,000 from the DFC. The pilot financing facility is intended to provide the foundation for the development of a self-sustaining financing window within the DFC to facilitate increased investments in EE and RE.  The work was jointly spearheaded by the DFC, the CCCCC/5Cs and the Caribbean Development Bank (CDB), with assistance from the GEF and UNEP, in developing innovative sustainable energy solutions that benefit the country and people of Belize.

It is recognized that globally, buildings account for over a third of total energy use and associated greenhouse gas (GHG) emissions; typically, 10 to 20 percent (depending on building type) of the total life‑cycle energy consumed is used for the manufacturing and assembly of building materials, construction, maintenance, refurbishment and demolition. Some 80 to 90 percent is used over the life of the building for heating, cooling, lighting and ventilation, house appliances, etc. In Belize, for example, the buildings sector (commercial, domestic, and institutional) is the largest consumer of electricity and accounts for more than 90 percent of total electricity consumption. It is therefore, the largest source of GHG emission after the transportation sector.  The Project aims to achieve a minimum reduction of 20 percent in electricity use in the pilot activities that are to take place during 2014 – 2018.

END

 MEDIA ADVISORY 

WHO:

  • Hon. Frank Mena, Minister of State, Ministry of Labour, Local Government, Rural Development, Public Service, Energy & Public Utilities
  • Dr. Kenrick Leslie, CBE, Executive Director, Caribbean Community Climate Change Centre
  • Ms. Natalie Goff, General Manager, Development Finance Corporation

WHAT:          OFFICIAL SIGNING CEREMONY: GEF-UNEP ESD PROJECT “BELIZE ENERGY EFFICIENCY PILOT FINANCING FACILITY”

 WHEN:          Tuesday, October 17, 2017, 10:00 a.m.

 WHERE:   Caribbean Community Climate Change Centre, Lawrence Nicholas Building, Ring Road, Belmopan, Belize

BACKGROUND:

The Energy for Sustainable Development in Caribbean Buildings (ESD) Project represents the first regional project that is piloting energy efficiency improvements in the economy of member states in the Caribbean Community (CARICOM). Buildings are identified to be the major consumers of electricity across the region, as a result, the Project focuses on the building sector for improving the efficiency of energy use.

Peruse the official Background Note – Blended Grant Loan Finance Mechanism – ESD Project (2013)

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The Caribbean Community Climate Change Centre coordinates the region’s response to climate change. Officially opened in August 2005, the Centre is the key node for information on climate change issues and the region’s response to managing and adapting to climate change. We maintain the Caribbean’s most extensive repository of information and data on climate change specific to the region, which in part enables us to provide climate change-related policy advice and guidelines to CARICOM member states through the CARICOM Secretariat. In this role, the Centre is recognised by the United Nations Framework Convention on Climate Change, the United Nations Environment Programme, and other international agencies as the focal point for climate change issues in the Caribbean. The Centre is also a United Nations Institute for Training and Research recognised Centre of Excellence, one of an elite few. Learn more about how we’re working to make the Caribbean more climate resilient by perusing The Implementation Plan.

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