Some emerging markets and developing countries have seen rapid growth in the last few years. Consumption of resources continued to increase, and is endangering further development. Resource efficiency is therefore the order of the day and the potential is enormous. OeEB supports this goal.
Growing hunger for resources
Developing countries and emerging markets currently consume two thirds of the world's natural resources. Assuming that standards of living slowly rise to equal those of the OECD countries and the use of resources continues to grow at the same pace, this would mean a threefold increase in total resource consumption. However, our natural resources are limited – the growing demand leads to higher global market prices, supply risks and distribution conflicts. It also jeopardises further sustainable development.
A market with barriers
Developing countries and emerging markets are seriously affected by these disadvantages. At the same time, they offer the biggest potential for savings in the future development of consumption. However, in most developing countries and emerging markets, awareness of resource efficiency is not yet advanced. Further, there exist hurdles such as a lack of information, absence of expert technical knowledge or poor access to equity and loan capital due to underdeveloped financial markets. Here, development banks like OeEB have their specific field of responsibility.
Resource efficiency as a focal point
Besides renewable energy and the promotion of micro-, small- and medium-sized enterprises, resource efficiency is one of three focal points in OeEB's strategy. The regional focus for energy efficiency projects lies in Southeast and Eastern Europe as well as the Southern Caucasus. This is primarily due to their proximity but also because the outdated technology and inadequate building structures in these regions mean that their potential is particularly high.
Through cooperations with local banks, OeEB can realise energy efficiency measures very well in the target regions. The financing which OeEB provides enables investments to be made which protect resources and achieve savings over the long term.
Members of the executive board Andrea Hagmann and Michael Wancata in discussion: "You must demonstrate to people what benefits they get."