A new programme to help businesses adopt climate technologies to tackle climate change has been launched.

The European Bank for Reconstruction and Development (EBRD) set up the project called ‘Finance and Technology Transfer Centre for Climate Change’ (FINTECC).

It is part of the EBRD’s Sustainable Energy Initiative and promotes energy efficiency, renewable energy, carbon-emission reduction and water efficiency technologies.

It offers policy dialogue, expert technical advice as well as incentive grants for companies to introduce new technologies, especially those with low market entry.

The grants will be funded by the Global Environment Facility (GEF) and from the Bank’s own resources.

Sumeet Manchanda, Principal Manager in the Energy Efficiency and Climate Change team at the EBRD, said: “Companies which introduce climate technologies increase profitability by reducing energy and water costs, bring down regulatory and supply risks through better control of resource consumption and their environmental impact, improve reliability of operations and reduce their carbon footprint.”

The programme was launched at a two-day workshop in Turkey this week which included more than 60 policymakers from countries including Belarus, Georgia and Morocco.

Policymakers explored ways to adopt climate technologies across industries in order to enhance national energy security, improve management of natural resources and reduce greenhouse gas emissions and pollution.

The event was organised by the EBRD and the International Energy Agency (IEA).