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Czech Republic: Czech Green Investment Scheme (GIS) (co-purchase) (CFE)
(Carbon Fund for Europe)

Project Description: In 2009 the Czech Government setup a Program of Savings of Energy and Renewable Energy Sources on the Revenues from Sale of Emission Credits (AAUs) as part of a national Green Investment Scheme (GIS). The program would start running from 1 April 2009. All the proceeds of the AAU transaction under the GIS would be fully disbursed no later than December 31, 2013. The objective of the program is to support selected measures implemented in residential buildings that will lead both to immediate reductions in carbon dioxide emissions and to the initiation of a long-term trend of sustainable housing. Main areas of the selected measures are (i) savings of energy for space heating of residential buildings (approximately 60,000 houses) ; (ii) reconstruction of residential buildings to reach passive energy standards (approximately 10,000 houses); and (iii) heat production from renewable energy sources in residential buildings (approximately 65,000 houses). 

Additional Benefits: In addition to carbon dioxide emissions reductions, other benefits generated from the scheme include, the creation of an estimated six to eight thousand jobs in the Czech Republic, limiting energy import dependence and creating savings for households in heating energy payments and reducing emissions from other pollutants (e.g., SO2, NOx). One of the crucial environmental problems in the Czech Republic is a high level of dust concentrations in the air. Both areas aiming to reduce energy consumption for heating and those aiming to replace coal, lignite and fuel-oil boilers will have a significant impact on the reduction of local dust pollution.

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