[Index]
UNECE Plans Energy Efficiency
Work As Oil Prices Rise
Geneva, 18 May 2004
- As crude oil prices rise above
$ 40 per barrel in May for the first time
since 1990, the UNECE Steering Committee
of the Energy Efficiency 21 Project (EE21)
at its fifteenth session on 24-26 May
2004 in Geneva will complete plans for
a new phase of work on energy efficiency
and renewable energy investment project
finance. The EE21 Project promotes market
formation for energy efficiency investments
mainly in UNECE economies in transition
in eastern Europe, south-eastern Europe
and the Commonwealth States.
Steeply rising oil crude
prices could stunt economic growth in
all UNECE member States. But these price
rises could aggravate fuel poverty adding
to the strains of economic transition
in eastern Europe. Vigorous energy conservation
measures coupled with efficiency improvements
are some of the few options policy makers
have to alleviate wintertime fuel shortages
should elevated oil prices continue to
the end of the year. At the same time,
energy efficiency investments are one
of the only self-financing methods to
reduce environmental pollution and help
eastern European UNECE member States meet
their international treaty obligations
under the UNECE and the UNFCCC.
The Energy Efficiency
21 Project is designed to develop the
skills of the private and public sector
experts at the local level to develop
energy efficiency and renewable energy
investment projects. It provides assistance
to municipal authorities and national
administrations to introduce economic,
institutional and regulatory reforms needed
to support these investment projects.
The project also provides opportunities
for banks and commercial companies to
invest in these projects through professionally
managed investment funds established within
the framework of the project. During its
forthcoming annual session, the Steering
Committee of the EE21 project will bring
together a unique group of stakeholders
to review progress and provide guidance
on the execution of the project.
Members of the Bureau,
representatives of supporting institutions
and the private sector will present an
up-date on the UNF/UNFIP Energy Efficiency
Investments for Climate Change Mitigation,
on works for future cooperation with our
partners at the French Global Environment
Facility, Norwegian Government, Italian
Government, the US EPA, the US DOE, UNEP
and the UNDP GEF, and on the Regional
Network for the Efficient Use of Energy
and Water Resources (RENEUER). The Steering
Committee will also work to further elaborate
the project plan for the three-year phase
(2003-2006).
On Wednesday May 26,
a special one-day working session on Renewable
Energy within the Energy Efficiency 21
Project will provide the opportunity to
review the current status of renewable
energy sources in the UNECE region, assess
financing modalities for renewable energy
investment project and consider the benefit
of renewable energy sources within the
Kyoto mechanisms.
For further information please contact:
Gianluca Sambucini
Energy Efficiency 21 (EE21)
Industrial Restructuring, Energy and
Enterprise Development Division (IREEDD)
United Nations Economic Commission
for Europe (UNECE)
Palais des Nations Bureau 348
CH - 1211 Geneva 10, Switzerland
Telephone: +41 (0)22 917 1175
Telefax: +41 (0)22 917 0178
E-mail: [email protected]
Web site: www.unece.org/ie/
Ref: ECE/IREEDD/04/P05