Estimates of how much money countries need to invest to reach their climate targets over the coming years can support their budget planning and their capital raising strategies. They can also provide visibility to investors on the pipeline of forthcoming investable projects.
The recent assessment of investment needs for climate action up to 2030 and beyond in Armenia, conducted as part of the EU funded EU4Environment Programme, shows that the country will need to invest at least EUR 4.7 billion (currently almost AMD 3 trillion) in gross fixed assets to reach its climate action targets by 2030; or EUR 6.9 billion (currently over AMD 4 trillion) if investments in nuclear energy will go ahead as planned. The assessment underlines the urgency to source the financial means required and allocate them accordingly to reach Armenia’s targets.
The current assessment also shows that Armenia should continue to develop more concrete targets, policies and programs up to 2030 and beyond. With the development and elaboration of new and existing government plans and strategies, such as Armenia’s energy strategy, the National Adaptation Plan or commitments under the Paris Agreement, financial needs might become clearer in the course of 2021 and beyond and will provide opportunity to refine the present assessment. Clear carbon reduction pathways up to at least 2030, including sector-specific targets and policies, will help Armenia implement its commitments under the Paris Agreement and reach carbon neutrality by 2050.
Read the report.