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Official News

Friday, 10 December 2021

Deputy Prime Minister Hambardzum Matevosyan participates in a conference on the future of green energy in Armenia

On December 10, Deputy Prime Minister of Armenia Hambardzum Matevosyan participated in the conference entitled "Uniting for Green Energy", initiated by the HSBC Bank Armenia and the British Embassy in Yerevan.

In his welcoming speech, the Deputy Prime Minister noted. "There is no alternative to the vision of a green future for both Armenia and the world. Climate change is causing irreversible damage to humanity and nature, forcing us to take responsibility and make real joint efforts to build a greener future.

In 2021 the Government of Armenia approved 2021-2030 Nationally Determined Contributions under the Paris Agreement. According to that, it is envisaged to reduce greenhouse gas emissions by 40% by 2030 compared to the level of 1990. In this regard, Armenia has envisaged a number of measures under the Government Action Plan 2021-2026:

• Increasing the share of green energy in the structure of electricity production;
• Promotion of electric vehicles and introduction of related infrastructure;
• Afforestation and implementation of other necessary works.

I would also like to emphasize that public resources are not enough to meet the emission reduction targets and to take an active part in the global climate change agenda. In this context, I attach importance to collaboration with international partners on a sustainable funding agenda. Active steps are already being taken in this direction, in particular with regard to the cooperation of the Central Bank of Armenia with reputable international platforms and organizations.
Dear attendees,

Today's conference provides a unique opportunity to outline the practical steps needed for our common goal. Everyone here is an active participant in this process. I am confident that, as Ambassadors for Sustainable Financing, you will continue to support us, consolidating the efforts of all of us for the green future of Armenia.”

Ambassador of the United Kingdom to Armenia John Gallagher and the Chief Executive Officer of HSBC Bank Armenia Irina Seylanyan also delivered opening remarks. In the first part of the two-part conference, the issues of sustainable economic development were discussed, which were about research and education, financial services and regulations, the role of the state. The second part of the conference was dedicated to the prospects of regulating sustainable financing: financial risks related to the environment, current trends in sustainable financing, the development vision of the Government of the Republic of Armenia, the results of the 26th UN Climate Change Conference and future steps, green bonds and other issues. The conference was summed up with a panel discussion.

September 2023