Wednesday, August 10, 2005

Carbon trading & energy efficiency

Energy efficiency projects are often the most cost-effective options to increase overall economic efficiency, to save energy and to reduce greenhouse gas emissions. And while the synergies between energy efficiency and environmental policies are not sufficiently exploited, the entry into force of the Kyoto Protocol in early 2005 created new momentum on this issue through its potential to improve the economics of energy efficiency projects. Additional revenues from the sale of carbon credits generated by energy efficiency projects can improve their rate of return, thus making the projects more attractive to investors. In turn, energy efficiency projects play a key role in the Kyoto flexible mechanisms – Joint Implementation (JI) and Clean Development Mechanisms (CDM). A PEEREA report based on the experience of both developed and transition economies and of international and private financial institutions, looks into all these aspects with the objective to highlight the ways in which energy efficiency can better be integrated into the climate change debate.

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