Tunisia launches green banking initiative and raises renewable energy share target

Tunisia launches a green banking initiative: Tunisia’s National Agency for Energy Management (ANME) and the Tunisian Banking and Finance Council (CBF) have signed an agreement to ensure more funds are channeled towards Tunisia's national energy transition strategy, TAP reports.

What we know: Under the agreement, the Green Banking Initiative will be launched to develop funding mechanisms for renewable energy and energy efficiency projects. Tunisia has also raised its target for the share of renewables in electricity production to 35% by 2030, up from the previous 30%.

More details: The partnership also involves creating a guide for implementing financing mechanisms proposed by the Energy Transition Fund, expediting funding for green projects, and establishing a platform to calculate the carbon footprint of the banking and financial sector. Training sessions are also planned for executives from both ANME and CBF, as are joint awareness campaigns.

ANME has headed other initiatives to accelerate Tunisia’s energy transition: The organization participated in the recently concluded Tunisian-Norwegian cooperation project Solar Fuel Electric Mobility (SoFEM), which promoted solar electric marine mobility in the region to slash greenhouse gas emissions from the transportation sector. ANME also signed a partnership agreement with the National Waste Management Agency (ANGED) last March to further the nation’s transition policy.

ICYMI- Tunisia just approved a plan to improve energy + water management: Tunisia's cabinet approved a draft law on Tuesday for the implementation of its 2023-2025 plan for economic, social, and environmental development, with a focus on controlling inflation and better managing its water and energy resources.