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Energy efficiency is essential for sustainable development of Bosnia nad Herzegovina

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According to the newest available data, almost 20% of gross domestic product in Bosnia and Herzegovina is spent on energy, which in comparison to 6,1% in the US or 4,75% in the EU countries, is a significantly high percentage. Energy efficiency implies series of measures that are undertaken in order to reduce consumption of energy, to enable savings in expenditures and reduction of CO2 emission, simultaneously not disturbing work and living conditions.

 

European Union highlighted energy efficiency as one of the key ways to reach the goals of sustainable development. This is the reason behind energy development strategy, which made the European Union become the world leader in fighting against the climate change. Goals of the new EU climate and energy framework for 2030 are reduction of 40% of greenhouse gases in comparison to 1990. Binding goal in the entire EU is for the renewable energy ratio to be at least 27%, new goals for energy efficiency policies and management system, and series of new indicators for ensuring competitive and safe energy system.

 

By signing the Contract on Establishment of the Energy Community, as well as the Stabilisation and Association Agreement, Bosnia and Herzegovina took over the obligation to align its legislation with the one of the EU and to adopt European directives and standards in the field of energetic. Having this in mind, as well as the natural potentials of B&H, increase of interest of foreign investors in this field is expected.

 

Given the natural resources of Bosnia and Herzegovina (sun, rivers, biomasses made of agricultural and animal waste, wind, etc.), it is clear that our country has the opportunity to stand out in this field. Examples of projects that are implemented in B&H prove incontestable opportunities for sustainable development when it comes to rational utilisation of energy.

 

One of excellent examples of utilisation of foreign investment in energy efficiency in Bosnia and Herzegovina is the “B&H Energy Efficiency Project – BEEP”. With goal of reaching energy, environmental and economic sustainability and process of accession to the European Union, B&H accessed financing the “Bosnia Energy Efficiency Project” from the World Bank credit funds, namely the International Development Association (IDA).

 

It is the largest energy efficiency project in B&H, with total value of 32 million USD, of which Federation B&H received 19,23 million USD. Project that is implemented in the period 2015-2018 has the goal to save energy, improve comfort, reduce CO2 emission, as well as to raise awareness on energy efficiency. The project will include more than 80 public facilities in Bosnia and Herzegovina (schools, kindergartens, hospitals, student dormitories) in the implementation of energy efficiency measures.

 

At the same time, the project will provide support to commitments of governments to meet the obligations from the Energy Community Agreement. The governments obliged per that agreement to undertake and implement relevant energy efficiency directives and regulations of the European Union.

 

This project illustrates in a very good manner the benefits that results out of investment in energy efficiency, such as reduction of energy consumption and making savings, but also the contribution to protection of environment and creation of new jobs.

 

In order to have more projects of this kind, which is essential for sustainable development of B&H, it is extremely important that B&H, as a member of Energy Community, to realize all undertaken international obligations in the process of EU integration.