EBP, in cooperation with responsible ministries and local partners, is developing a Monitoring, Reporting and Verification (MRV) System, which will enable Chile’s energy cities to quantify their achieved emissions reductions.
Chile’s national Energy Cities program (Comuna Energetica) has in large part been established through the work of EBP. The program is based on the Swiss Energy Cities Label and the European Energy Award (EEA). Currently, more than 20 cities are participating in the program and many renewable energy and energy efficiency measures have been implemented.
Preliminary Project Funding from the Green Climate Fund
The preliminary project to establish a Monitoring, Reporting and Verification (MRV) System for the Energy Cities program is being financed through the Green Climate Fund (GCF), the largest climate fund in the world. The main goal is to enable Chilean Energy Cities to measure and validate the emission reductions achieved through their targeted mitigation measures based on the use of the MRV system. The MRV system is important to demonstrate cities’ contributions to the achievement of the country’s climate change mitigation goals, as outlined in the Nationally Determined Contribution (NDC) and to help cities to access international sources of climate finance. In addition, EBP has partnered with Deuman to develop financing mechanisms for implementing renewable energy and energy efficiency measures at the municipal level.
The project serves as a preparatory phase, with plans to turn to the GCF again in the future for the expansion of the Energy Cities Program.
EBP has been awarded the project through CAF – Latin American Development Bank, which is accredited by the GCF to manage GCF project funds. The project will be implemented in close consultation and collaboration with the relevant Chilean ministries, including the Ministry of Finance and the Ministries for Energy and Environment.