Chapter 5 | PROJECTS CONTRIBUTING TO THE OPEC FUND’S CLIMATE FINANCE
SPOTLIGHT STATEMENT The OPEC Fund’s Contribution to Climate Resilience in Armenia
Key achievements include enhancing resilience to disaster and climate risks by introducing climate change screening for proposed public investment projects and supporting revisions to the building code to incorporate new norms on disaster and climate resilience. The reforms have also contributed to Armenia’s updated Nationally Determined Contributions by reducing emissions in the energy sector through an energy-saving and renewable energy program, state support measures for energy-efficient renovations, and revisions to the building code to improve energy efficiency standards. Additionally, the amendment to the law on At- mospheric Air Protection has established a framework for monitoring atmospheric air pollution, including greenhouse gases, in line with international standards. Finally, the re- forms have reduced the overall environmental footprint of economic activity by amending the law on Environmental Impact Assessment to introduce mechanisms for identifying and preventing environmental damage.”
“Today, we are witnessing the global challenge of climate change, which necessitates a profound transformation. In this context, the government of the Republic of Armenia is committed to implementing measures and approaches aimed at minimizing the adverse effects of climate change. We are pleased to highlight that the Green, Resilient, and Inclusive Development Program, supported jointly by the World Bank and the OPEC Fund, aligns with Armenia’s climate action policies and has significantly bolstered our efforts to address climate-related challenges. This pro- gram has been instrumental in advancing green develop- ment in Armenia by promoting climate change mitigation and adaptation and enhancing the regulatory framework for environmental management.
EDUARD HAKOBYAN Deputy Minister of Finance, Republic of Armenia
Powered by FlippingBook