This report by the United Nations Economic Commission for Europe (ECE ENERGY SERIES No. 37) finds that Energy efficiency is among the most effective method of mitigating climate change. This has been upheld by the United Nations Regional Commissions that support, among others, energy efficiency market formation and facilitate the identification and development of bankable investment projects for climate change mitigation. The review of financing mechanisms can be relevant when considering new carbon market instruments. The UN Regional Commissions aim at spreading the knowledge of and stimulating discussion on models and best practices for replication with due adaptation under proper market conditions. The goal is to combine technical assistance in the design and implementation of investment projects, advice on policy and institutional reforms and direct links with investment funds in order to establish mechanisms able to fast-track the
development of self-sustained markets for energy efficiency and renewable energy and to facilitate compliance with future legally binding reduction targets for greenhouse gasses (GHGs).
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