PEEB Cool is an initiative under the umbrella of the Partnership for Energy Efficiency in Buildings (PEEB) that provides technical assistance and financial support to 11 countries in hot climates.

 

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Partner countries

PEEB Cool will support 11 partner countries in hot climates  across Africa, Asia, Eastern Europe and Latin America to improve the energy efficiency in buildings and resilience to shocks such as extreme climate events, economic crises and energy scarcity.
PEEB Cool partner countries are: Albania, Argentina, Costa Rica, Djibouti, Indonesia, Mexico, Morocco, Nigeria, North Macedonia, Sri Lanka and Tunisia.


Context

The sustainability and resilience of the built environment are one of the greatest challenges in tackling climate change. Buildings are responsible for almost 40% of energy-related greenhouse gas emissions and energy use for space cooling is expected to double by 2040. Countries urgently need to reduce their climate-changing emissions and adapt to increasing temperatures and other climate impacts on people’s lives.

PEEB Cool’s mission is to help countries in hot climates transform their buildings and construction sector by advancing resilient and energy-efficient building design, construction and operation.


Structure and services of PEEB Cool

PEEB uses a unique combination of financing and policy to bring ambitious projects for energy efficiency and resilience to scale and achieve long-lasting sector transformation.

PEEB Cool supports the development of large-scale green building projects by providing expert support throughout all stages of  the project cycle  and financing, including through concessional loans (Investment Facility).

PEEB Cool also supports countries in improving strategies and regulations for resilient and efficient buildings through policy advice, capacity building and international awareness (Enabling Facility).


Component 1: Investment Facility

PEEB Cool’s Investment Facility is implemented by AFD Group and offers financing and technical assistance to public and private project owners incorporating bioclimatic design and ambitious energy efficiency targets.

Technical assistance, financed through grants, can be provided at different stages of the project: 

  • At feasibility stage, to review plans and make recommendations on buildings design; 
  • At construction stage, to supervise the construction;
  • At operation and maintenance stage to strengthen the capacities of project owners and ensure proper building management.


Concessional loans will address the financial barrier linked to higher investment costs and related debt services induced by energy efficiency measures. The low pricing of the Green Climate Fund concessional loans will allow a grant-equivalent financing of those extra costs.

Eligibility criteria for investment financing can be found here: https://www.peeb.build/peebcool/eligibility




Component 2: Enabling Facility

PEEB Cool’s Enabling Facility is implemented by GIZ to foster an enabling framework for low emissions and climate resilient buildings. Investment frameworks will foster action in specific sectors such as health or residential buildings. It supports the transformation of the buildings sector towards green buildings through sectoral framework, policies, and trainings, and international networks and knowledge with these objectives:

  1. Private sector actors are enabled to work towards building sector transformation
  2. Policy proposals prepare the ground for building sector transformation
  3. Capacity-building strengthens local actors
  4. Programme experience supports the global building sector transformation

Financing amount and tools

The Green Climate Fund will contribute around 220 million EUR  for concessional loans and technical assistance grants to scale-up PEEB’s financing, policy support and capacity-building activities.

AFD will co-finance with 5 million EUR as project assistance grants, and the German Federal Ministry for Economic Affairs and Climate Action of Germany (BMWK) will contribute 2.5 million EUR as grants for policy support and international awareness.

The concessional loans will leverage an estimated amount of 1,111 million EUR of loans from AFD. The co-financing mix of investment loans from GCF and AFD as part of Component 1 will allow project owners from beneficiary countries to raise the financial barrier of financing sustainable and resilient buildings within their construction or renovation projects.

The grants from technical assistance are separated between operational technical assistance for projects (EUR 26.8 million, Investment Facility) and institutional technical assistance (EUR 21.5 million, Enabling Facility).

Opportunities for countries
  • Prepare and monitor the design of sustainable and resilient buildings
  • Invest in energy efficiency in public and private sector buildings
  • Strengthen the capacities of buildings projects stakeholders
  • Strengthen the regulatory framework
  • Develop sectoral roadmaps e.g. for public buildings, hospitals, schools
  • Stimulate schemes to mobilise private investments in green buildings
  • Provide easy access to information on technologies for and financing of energy efficiency in buildings to the private sector and property owners


Expected results

It is expected that PEEB Cool contributes to:
  • 1,562,759 tCO2eq saved
  • 1.13 million people with better thermal comfort in buildings
  • 27,000 jobs created
  • 233,267 MWh of energy saved per year


Resources

PEEB News article
PEEB Cool Funding Proposal approved by the Green Climate Fund
PEEB Cool was presented at COP27 in Sharm El Sheikh in November 2022. 
PEEB Cool Flyer - A facility for resilient and energy-efficient buildings design, construction and operation
PEEB Cool Investment Facility
PEEB Cool Enabling Facility
PEEB Cool Eligibilty Criteria

 

Presentation of PEEB Cool at COP27 in Sharm El Sheikh, in November 2022. From left to right, Mathilde Bord-Laurans, Rémy Rioux, Sarah El Battouty, Ingrid Hoven, Teodora Obradovic Grncarovska, Vera Rodenhoff, Dadan Kusdiana and Mariana Castaño Cano.