Armenia has committed to reducing its GHG emissions by 40% by 2030 and aims to achieve Net Zero emissions by 2050 in line with the Paris Agreement. A key aspect of Armenia’s climate strategy involves enhancing energy efficiency in government and commercial buildings, sectors that significantly contribute to its carbon footprint.

Armenia faces obstacles such as outdated building systems and financial constraints that hinder the implementation of energy-efficient technologies. ESCO Financial addresses these challenges through its Energy Efficiency-as-a-Service (EEaaS) model, which removes the financial burden by funding upgrades to critical energy systems like HVAC units, boilers, chillers, smart controls, motors, compressors, air handling units, and lighting systems. These upgrades enable Armenia to significantly reduce energy consumption and GHG emissions, aligning with its sustainability goals.

The International Performance Measurement and Verification Protocol (IPMVP) provides a framework for measuring and verifying energy savings, ensuring that Armenia’s energy efficiency initiatives result in quantifiable carbon reductions. This supports Armenia’s commitments under the Paris Agreement and helps attract additional investment.