DATE: March 6, 2014   NO. 16/2014

Grenada to Host Energy for Sustainable Development (ESD) Project Inception Meeting

ST. GEORGE’S, GRENADA Thursday, March 06, 2014:The Ministry of Finance and Energy and the Ministry of Economic Development, Planning, Trade and Cooperatives, in collaboration with the Caribbean Community Climate Change Centre (CCCCC) and the United Nations Environment Programme (UNEP), will host a National Inception Meeting for the Energy for Sustainable Development (ESD) in Caribbean Buildings Project on Friday March 7^th, 2014. The meeting will be held at the Dean of Students Conference Room, St. George’s University starting at 9:00 am.

The Energy for Sustainable Development in Caribbean Buildings is a four-year project developed and funded by the CCCCC, and five (5) Caribbean Community (CARICOM) Member Countries of Antigua and Barbuda, Belize, Grenada, Saint Lucia, and the Republic of Trinidad and Tobago. Funding is also being provided by the Global Environment Facility (GEF), with the United Nations Environmental Programme (UNEP) as the GEF Executing Agency.

The project is valued at US$12,484,500 and is aimed at reducing greenhouse gas (GHG) emissions; making the energy sector more efficient; and increasing the use of renewable energy in the participating countries. It is expected that the policies, measures, and mechanisms that will be developed and adopted under the Project will result in a reduction of twenty percent (20%) in GHG emissions in the near-term, and an even larger reduction of GHG emissions in the longer-term.

The Project is made of the following seven (7) components:

Component 1:           Establishing an assessment and monitoring system for energy efficiency and renewable energy in buildings;

Component 2:           Strengthening of national capacity for energy efficiency and renewable energy;

Component 3:           Developing appropriate financial and market-based mechanisms that support energy efficiency;

Component 4:           Implementing a demonstration program for sustainable energy;

Component 5:           Developing and implementing a regulatory framework to promote energy efficient buildings, equipment, and appliances;

Component 6:           Engaging in regional awareness, knowledge management and sharing, replication strategy, and regional reporting; and

Component 7:           Project Management

All members of the media are invited to the opening session of the Meeting, commencing at 9:00 am.