Russia Residential Energy Efficiency Program

completed

The goal of the Project is to facilitate investments into energy efficient renovations of residential multi-family buildings in Russia and avoid CO2 emissions by creating an effective legal and institutional platform to support Russian home owner associations and housing management companies in getting access to finance for the purpose of improving energy efficiency of the country's existing housing stock. This five-year, advisory services Project will take on a programmatic approach and will focus on the following key objectives: Develop regulatory and legal environment addressing key legal and regulatory issues, in particular (i) the framework for energy efficiency in residential buildings and (ii) legislation enabling local home owner associations and management companies to access finance for the purpose of improving energy efficiency in multifamily buildings. Develop and market financially-viable residential energy efficient products by working with pilot Russian banks. Increase capacity and awareness about residential energy efficiency among key market stakeholders. The Project will be implemented jointly by IFC and EBRD, and will allow both entities to closely coordinate all sector work, leverage resources, and achieve greater impact by joining efforts. By partnering with EBRD, IFC further enhances its additionality as EBRD’s involvement will provide additional investments in energy efficiency in the Russian residential sector and will allow each agency to capitalize on its strengths in addressing sector barriers.