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There is a considerable potential to enhance energy efficiency in Armenia. Amundi-Acba Asset Management
June 26, 2024. A conference dedicated to energy-efficient housing was held in Yerevan.
Deputy CEO of Amundi-Acba, Fund Manager Hrayr Aslanyan participated in the panel discussion "Financing energy-efficient housing in Armenia for sustainable development: how various interested parties can expand the scope of actions" and talked about the possibilities of increasing energy efficiency in Armenia.
"Housing sector is one of the largest energy-consuming sectors in Armenia, therefore, there is a considerable potential to enhance energy efficiency in housing, where financing plays a crucial role. To make a visible progress in the coming years, some problems must be solved. First of all, it is important to have a well-coordinated and centralized policymaking, which is essential for enforcing and monitoring energy efficiency standards, as well as for robust data collection and quality assurance. The availability of the mentioned data will enable financial organizations to more properly assess the risks and opportunities in the sector, and to develop appropriate targeted financing tools.
The involvement of international financial institutions can be instrumental, as they often provide technical assistance in the process, as well as risk mitigation opportunities. Awareness raising among households to boost demand for energy-efficient solutions is equally important. People need accurate and accessible information about the long-term benefits of energy efficiency and financing options, as well as the costs of inaction," said Hrayr Aslanyan, Deputy CEO, Fund Manager of Amundi-Acba.
Hrayr Aslanyan also spoke about developing capital markets through "green" bonds, noting that some local companies have already entered or are about to enter the "green" bond market.
"To speed up this process, it is necessary to establish a robust regulatory framework. This includes setting clear and harmonized reporting and data quality standards. Another essential aspect is the development of Green Taxonomies, helping investors understand what qualifies as "green" and where they should focus their financial resources.
The Governor of the Central Bank, Martin Galstyan, and Ambassador Extraordinary and Plenipotentiary of France to Armenia, Olivier Decottignies, also participated in the event.
Amundi-Acba Asset Management was founded in 2013. The company manages three mandatory cumulative pension funds having more than 475 billion AMD assets under management as of May 31, 2024. The company's shareholders are the French Amundi, Europe's leading Asset Manager with nearly 2 trillion Euros in assets under management as of March 31, 2024 and Acba Bank, which is one of the largest financial institutions in Armenia, is represented throughout the country with 65 branches.
