EU4Energy: Using innovative technologies in the fight against climate change

EU4Energy: Using innovative technologies in the fight against climate change anna.iovchu Thu, 11/28/2019 - 21:23

Brief Description

Climate Innovation Vouchers help companies in Ukraine develop innovative climate technologies. The programme is also breaking down policy, financial, technical and awareness barriers that have so far been hampering such innovation.

Objectives

Why is this needed?

Ukraine is a signatory to the Paris Agreement agreeing to take measures to keep a global temperature rise this century below 2 degrees Celsius above pre-industrial levels. Yet Ukraine ranks 19th among world’s top 25 energy-consuming countries, according to the 2018 International Energy Efficiency Scorecard.

Actions in brief

How can the project help?

Set up under FINTECC (the Finance and Technology Transfer Centre for Climate Change) and funded by the EU and the EBRD, the Climate Innovation Vouchers Programme enables Ukrainian companies to finance their own climate innovations. Such vouchers are essentially grants that cover 75% of the necessary costs involved up to a value of €50,000.

In addition, international specialists are on hand to conduct resource efficiency audits, helping companies to prioritise investments in sustainable resources and to understand the technical and financial feasibility of climate technologies.

The project also assists the Ukrainian government in putting in place an effective policy framework for resource efficiency technology transfer.

In addition, incentive grants are available to help companies install or manufacture resource efficiency technologies. These include innovations that achieve energy, water and/or materials efficiency.

What results have been achieved?

A number of policy and regulatory instruments that ease technology transfer have been developed.  The service and industrial sectors in particular are more at ease in conducting technical and financial studies, research and development, as well as testing and certification relating to innovative climate technologies. 

Meanwhile, various market assessment and knowledge sharing activities have been conducted, building on similar FINTECC work in other countries. Overall and most importantly, Ukrainian businesses are now ready to innovate in all aspects of climate technologies.