The Ukrainian government recognizesinvesting in energy efficiency (EE) as a pillar of itsenergy sector strategy for reducing reliance on importednatural gas, mitigating the financial and fiscal stresses ofhigh energy costs, and supporting economic recovery andlong-term growth. Major government initiatives have been orare being undertaken to scale up EE investments inindustries and residential buildings, two of the largestfinal energy consumers. Efforts to support EE in the publicsector also received a boost with the recent enactment ofthe energy service company (ESCO) law and amendments to thebudget code to enable energy performance contracting. Themunicipal sector - which includes municipal buildings aswell as municipal services such as public lighting, districtheating, water and sanitation, solid waste, and publictransportation - accounts for the lion’s share of finalenergy consumption in the public sector. Facilitating andscaling up municipal EE finance should be a key component ofthe government’s national EE support agenda. Creating adedicated EE revolving fund (EERF) for the public sector -and focusing its initial efforts on financing EE renovationof municipal buildings - will fill a critical gap inmunicipal EE financing in Ukraine and help address perhapsthe most pressing municipal EE investment needs of Ukrainian cities.
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