Language:
English
Pages:
1 Online-Ressource
Series Statement:
2114
Keywords:
Access To Finance
;
Economic Investment and Savings
;
Employment and Unemployment
;
Energy
;
Energy Efficiency
;
Environment
;
EU Standards
;
Financial Literacy
;
GHG
;
Industry
;
Rise
Abstract:
This report explores priorities and challenges faced by Georgia to promote green transition and support its businesses to reduce their emissions through energy efficiency. The report stresses the need for improved incentives and opportunities for business investments in energy efficiency and renewables. The report points to the importance of productivity as a driver of energy efficiency at the firm-level, as well as the importance of information and knowledge spillovers from more efficient firms to less efficient ones when these are in close-by locations and in similar sectors. The report finds that key drivers of energy efficiency upgrading include prices of energy, as these generate key incentives for businesses to upgrade their investments and organization, as well as technology adoption and quality green and general management practices. To support green transition, the report recommends a comprehensive policy package of reforms and programs, including: (i) Horizontal economy-wide policies centered around price signals and regulations, improvements to the grid infrastructure, and reliability of electricity services; (ii) Information - raising firms awareness about potential benefits of becoming more energy efficient and available energy saving. (iii) Capabilities - helping firms identify opportunities for improvement of management, organization, technology, and skills; and (iv) Finance - easing access to financial resources required for upgrading firms' technology. Finally, the report emphasizes the importance of targeting by using appropriate diagnostic and benchmarking tools to assess specific needs and readiness of businesses to upgrade and invest in energy efficiency
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