The project, led by the National Ozone Unit - Environmental Policy and Planning Division - Ministry of Planning and Development, will deliver multiple benefits at the local, regional and global levels, assisting the country in achieving its Sustainable Development Goals (SDGs), in particular those related to climate change, and ensuring access to affordable, reliable, sustainable and modern energy. It is expected that the project will provide global environmental benefits in terms of direct emission carbon dioxide equivalent (tO2eq) savings of at least 644,396 tCO2eq over the four (4) year period.
The initiative aims to fulfill TT’s national priorities, outlined in the National Development Strategy – Vision 2030 – under Theme V “Placing the Environment at the Centre of Social and Economic Development”, including:
(a) Promotion of a resilient whole-of-government approach to disaster risk management and strengthening capacities to reduce risk and build community resilience to disasters especially within vulnerable groups;
(b) Promotion of energy efficiency and the efficient use of resources for increasing energy security through alternative energy technologies, renewable energy and encouraging private sector investment in areas such as low carbon technologies; and
(c) Development of climate change adaptation and mitigation strategies to safeguard those most affected.
It will also aid in meeting international commitments under the Montreal Protocol and United Nations Framework Convention to Combat Climate Change (UNFCCC), through the integration of energy efficient RAC technologies and the reduction of the use of high Global Warming Potential (GWP) and Ozone Depleting Substance (ODS) refrigerants.
Specifically, the funding will be allocated to strengthening the national policy, regulatory and institutional frameworks, implementing an investment portfolio on replacement of energy intensive technologies, and developing an information and knowledge-sharing strategy.
A diverse group of stakeholders will be engaged in this public-private partnership, including but not limited to, Government Ministries, Public Agencies, Academia and Civil Society Organisations (CSOs). The United Nations Development Programme (UNDP) will be a fundamental partner for the overall implementation.
Source: Ministry of Planning and Development 21/05/2020