Russia Residential Energy Efficiency Program

completed

The project assists Russian homeowner associations and housing management companies with gaining access to finance for the purpose of improving the energy efficiency (EE) of the country's existing housing stock. It does so by creating an effective legal and institutional platform. Specific actions include: 1) addressing key legal and regulatory issues, particularly the framework for EE in residential buildings and legislation enabling local homeowner associations and management companies to access finance for improving EE in multifamily buildings; 2) working with partner Russian banks to develop and market financially viable residential EE products; and 3) increasing awareness about residential EE among key market stakeholders. The objective is to facilitate at least $100 million of investment into energy-efficient renovations of multifamily buildings, and to directly avoid at least 400,000 tons of CO2 emissions per year.