responsAbility collaborates with UN Environment
A climate fund managed by responsAbility Investments AG partnered with the energy, climate and technology branch of the UN Environment. The partners will collaborate on developing country baselines for specific technologies to establish benchmarks for both sustainable energy policies and energy efficiency financing. The strategic partnership will allow responsAbility to obtain first-hand information on the development of sustainable energy policies that boost the demand for green products financed through the climate fund’s partner institutions.
The UN Environment’s energy, climate and technology branch provides dedicated support to developing countries in the establishment of sustainable energy policies. Their work is performed as part of the UN and World Bank’s “Sustainable Energy for All” energy efficiency acceleration platforms: United for Efficiency (U4E), Global Fuel Economy Initiative (GFEI), District Energy in Cities Initiative etc.
The development of baselines for specific technologies including vehicles, lighting or air conditioning will be executed by specialised consultants and funded through a dedicated Technical Assistance facility. This facility is financed by public donors including the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety and the UK Department for Business, Energy & Industrial Strategy.
UN Environment will use the gathered market information to predict the impact that energy efficiency policies will bring to a country’s energy consumption, while responsAbility is using the data to steer the financing activities of the climate fund. By determining the average efficiency of equipment currently sold in the country, the baselines serve as benchmark against which financed equipment must achieve a minimum of 20% energy savings.
Rochus Mommartz, CEO responsAbility Investments, explained: “This agreement represents a major milestone for responsAbility in the field of sustainable energy promotion in developing countries. We all look forward to a fruitful collaboration with this new key partner over the years to come!”
Mark Radka, chief of energy, climate and technology branch, said: “Reliable data regarding energy efficiency levels in developing countries are an important basis to measure the concrete impact that policies have. We are very pleased about this collaboration with a private-sector investor that, through its financing activities, pursues the same objective: to mitigate global climate change.”