Finance

EBRD joins UNWTO to ease access to financing and green technologies for the tourism sector

Wednesday, 30 September 2020 18:18
EBRD joins UNWTO to ease access to financing and green technologies for the tourism sector

(Ecofin Agency) - The European Bank for Reconstruction and Development (EBRD) and the World Tourism Organization (UNWTO) join forces to make the global tourism sector more sustainable through the promotion of green technologies.

In that regard, EBRD established the Green Technology Selector (GTS), which is an online shopping-style platform that lists best-in-class technologies from manufacturers around the world. About 26,000 technologies are already identified. They include energy-efficient doors and windows, construction machinery, photovoltaic solar panels, lighting, and thermal insulation equipment.

Through this project, UNWTO wants to accelerate the transfer of climate finance to the sector shattered by the coronavirus pandemic. Financing from the EBRD to tourism companies will be done through the Green Economy Financing Facility (GEFF), the Green Trade Facilitation Program (Green TFP), and the Finance and Technology Transfer Centre for Climate Change program (FINTECC). The resources will help improve energy efficiency, provide renewable energy, and reduce water and resource use.

“Buildings account for approximately 40 percent of global energy use. This estimate can be even higher for the hospitality sector, which offers great potential for boosting resource and energy efficiency and reducing its carbon footprint,” said Vlaho Kojakovic, EBRD Director, Property & Tourism.

Gwladys Johnson Akinocho



 
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