Call for Scale Up of Green Investment Projects (Serbia)

Aims

• Through this Call they seek to technically support and/or co-finance, bankable green projects with the aim to:
  • unlock their potential equity finance,
  • enable them access to more favorable financial loans and
  • assist them in accessing the other green financing schemes such as guarantees, green bonds, etc.

Thematic Priorities

• In each of the Green Agenda pillars, specific type of project ideas will be supported, as explained bellow:
  • Pillar 1 – Climate action, decarbonization, energy efficiency, and green industries
    • GHG reduction in carbon intensive sector which include operators obliged to have GHG permit:
      • electricity and heat generation, energy-intensive industry sectors including oil refineries, steelworks, and production of iron, aluminum, metals, cement, lime, glass, ceramics, pulp, paper, cardboard, acids and bulk organic chemicals (i.e. EU-ETS sector), as well as , and
    • Resource efficiency, energy efficiency and the use of RES for entities obliged under the Energy Management System, as well as from transport, buildings, agriculture, waste, water and wastewater management and other sectors.
    • Pollution reduction for companies obliged to have integrated permit – IPPC operators, through investments in the application of the Best Available Techniques to pursue a clean technology transition and better resource efficiency for alignment with BAT conclusions and/or BAT reference documents (BREFs).
  • Pillar 2 – Circular economy for resource efficiency and industrial symbiosis
    • In Pillar 2, the Call is focused on selecting, and providing support for:
      • the implementation of innovative business models, technologies, and digital solutions to be put forward by public companies or cities and municipalities, with a focus on resource efficiency through non-hazardous waste reuse and recycling (including special focus on biodegradable waste, including sludge);
      • selection of and support to SMEs (e.g., the HORECA sector), waste operators, and industries (e.g., farms and the food processing industry) to establish industrial symbiosis and apply the best available technologies and techniques for optimizing the use of resources and energy. This component could also include other waste streams, such as: bio-waste, construction/demolition waste, plastics, paper, metal, and glass;
      • Circular design (design for a prolonged lifecycle, design for recyclability, design for disassembly and ease of repair, energy and water efficient design, design for durability, toxic-free design, design for upgradeability, modular design, zero-waste production, clean production);
      • New business models for products/services that promote shared use, increased efficiency and productivity of usage, or models that promote access over ownership;
      • Urban design solutions, including circular construction and buildings.
  • Pillar 3 – Depollution of the environment with a strong focus on air quality
    • In Pillar 3, the Call is focused on selecting, and providing support to project ideas with the aim to produce, implement, procure or establish new value chains for:
      • Replacement of fossil fuels with clean alternative energy sources, reducing emission of pollutants into the air. Priority will be given to the introduction of underutilized energy sources, such as geothermal energy, into energy mix;
      • Improvements in production processes that reduce air pollution;
      • innovative solutions that can lead to scaled-up replacement of inefficient and polluting heating/combustion units with cleaner alternatives;
      • innovative solutions that can address transport-related emissions, i agriculture-related air pollution;
      • eco-building materials and processes, innovative solutions for heating & cooling, improved energy efficiency of public buildings and households, reducing indoor air pollution, construction dust management, dust collection, and disposal, increase of green infrastructure, new technologies for purification of ambient air, etc.;
      • other equipment, technologies, values chains, business models or advanced processes that contribute to the reduction of air pollution, including innovative solutions that build on traditional knowledge/practices, which can be scaled up.
  • Pillar 4 – Protecting and investing in biodiversity and ecosystems
    • In Pillar 4, the Call is focused on innovative ideas for the improvement of green infrastructure and forest cover in order to restore and preserve ecosystems and ecosystem services and strengthen resilience to natural disasters and extreme weather conditions caused by climate change. Support will be provided to:
      • Solutions that apply innovative financing models that enable sustainable investment into biodiversity, habitats and ecosystems conservation and restoration;
      • Scaling up previously tested sustainable solutions in green transformation of unused or degraded areas (e.g. abandoned agricultural land, degraded forests);
      • Solutions that improve the biodiversity and climate resilience in practice;
  • Pillar 5 – Sustainable food systems for sustainable rural livelihood
    • In line with the EU The Farm to Fork Strategy, Sofia Declaration on Green Agenda for the Western Balkans and national legislation, the aim of the call is to accelerate the transition to a sustainable food system that should:
      • have a neutral or positive environmental impact,
      • help to mitigate climate change and adapt to its impacts,
      • reverse the loss of biodiversity,
      • ensure food security, nutrition and public health, making sure that everyone has access to sufficient, safe, nutritious, sustainable food,
      • preserve affordability of food while generating fairer economic returns, fostering competitiveness of the EU supply sector and promoting fair trade.

Benefits

• Assistance of technical and financial experts for developing green and bankable project proposals
• Support in significant de-risking of green investments and obtaining most favourable financial loans/leases.
• Support companies in conducting detailed energy audits with the aim of improving energy efficiency

Funding Information

• Investment Value: Minimum 500,000.00 $
• Co-financing through EU for Green Agenda Project:
  • maximum of 10% of the total project value (in exceptional cases – maximum of up to 20%). Not more than $200,000

Eligible Projects

• Projects applying innovative “green” technologies or those presenting a new application of an existing technological solutions (the first-of-its-kind in Serbia).
• Innovative/improved business models for green products/services or organization/production processes, that contribute to the green transition.
• Projects and businesses that have tangible positive multiple impacts in terms of environment and climate (e.g. reducing emissions into soil, air and waters, preserving/improving natural capital etc.), employment (e.g. green jobs creation), sustainable economic growth, women empowerment in just green transition, etc.
• Design solutions that contribute to the green transformation of economy and society (reduce carbon emissions and/or pollution, improve energy efficiency, protect nature and biodiversity, improve food quality and supply, etc.).

Eligibility Criteria

• Public and private companies.
• All applicants must be registered in Serbia, in accordance with the national legislation.

For more information, visit UNDP.