Georgia

This document sets out Georgie's Sustainable Finance Taxonomy.

<p>This document was prepared in accordance with government's Ordinance no 629/2019 on the “Approval of Planning, Monitoring and Evaluation of Policy Documents.” It consists of a strategy to 2030 and an action plan covering the period 2021-2023. It identifies mitigation measures capable of translating into action the objectives set out in Georgia's existing NDCs, therefore of meeting the country's international commitments, but also to determine the future level of ambition. The document sets specific GHG emissions reductions targets against the projection of a reference scenario.</p>

This decree creates the Climate Change Council and defines its composition and mission.<br>The Council is composed of representatives of several Ministries and public authorities. The Council’s core mission is to ensure the efficient implementation of the Paris Agreement.&nbsp;<br><br>The Council is in charge of:&nbsp;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;deliberating on the issues related to the preparation and implementation of the NDC, reviews, recommending and submitting updated NDCs to the Secretariat of the Convention;&nbsp;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;discussing the national system for measurement, reporting and verification (MRV) within the Enhanced Transparency Framework (ETF), to implement the Paris Agreement in Georgia, and, in case it is approved, shall initiate the decision-making process by the government of Georgia;&nbsp;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;reviewing the national communications of Georgia to the Convention, biennial update reports and the reports on the fulfilment of the nationally determined contribution, and, if those are approved, shall initiate the decision-making process by the government of Georgia;&nbsp;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;reviewing the national program of Georgia prepared for the Green Climate Fund (GCF) and, in case it is approved, shall address the Ministry of Environmental Protection and Agriculture of Georgia with the relevant recommendation;&nbsp;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;reviewing the projects to be submitted to the Green Climate Fund (GCF), Convention Adaptation Fund (AF), Climate Technologies Centre and Network (CTCN) and other financial institutions working on the climate change issues, and, in case the project is approved, shall address the Ministry of Environmental Protection and Agriculture of Georgia with the recommendation to support the projects;&nbsp;<br>-&nbsp; &nbsp; &nbsp; &nbsp;reviewing the national strategies and plans related to climate change and, in case of approval, shall initiate the decision-making process by the government of Georgia;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;establishing and approve the task forces for relevant economic sectors;&nbsp;</div><div>-&nbsp; &nbsp; &nbsp; &nbsp;With the view to achieving the objectives of the Council and participating in its activities, the Council can invite representatives from other ministries, government agencies and organisations, private sector, international organisations, as well as other experts and stakeholders.

This Action Plan sets investment and policy measures over the period 2019-2020 with a potential extension to 2022. It seeks to improve energy use.&nbsp;<br><br>

The strategy aims to diversify and develop economic opportunities in rural areas, improve social condition and quality of life. It lays out three strategic goals: 1) increase competitiveness of agricultural and non-agricultural sectors, 2) sustainable usage of natural resources, retaining the eco-system, adaptation to climate change, and 3) Effective systems of food/feed safety, veterinary and plant protection.<br><br></div><div><br><br>

<p>The 2022 Georgian budget law includes the following climate-related clauses:</p>
<ul>
<li>it mentions that the climate-tailored irrigation sector development program will receive funds from the  Asian Development Bank (ADB)</li>
<li>the development of renewable energy sources will be promoted alongside technology upgrades</li>
<li>improving energy efficiency in public buildings is identified as a priority, as well as streamlining energy consumption standards on household goods</li>
<li>attract investment in green sectors of the economy and promote green growth</li>
<li>implement the EU4Environment program</li>
<li>improve ecological wellbeing</li>
<li>develop a taxonomy for sustainable financing</li>
<li>promote environmental- and climate-friendly agriculture practices.</li>
</ul>


This law sets the legal framework on windbreaks, their status, restoring, development, use and management. Windbreaks are a type of hedgerow made of tress or shrubs and that protect farmed fields, notably from wind. Harm to windbreaks is currently a prominent cause of decreasing crop yields in the country. The law does not mention climate change but the protection of windbreaks generates adaptation and mitigation responses. The law also sets rules on agencies and private parties that are authorised to deal with windbreaks and introduces financing schemes.

This law aims to increase energy savings, security of supply, eliminate barriers to energy efficiency improvements in the energy market. It sets the legal framework on measures promoting and implementing energy efficiency to achieve the goals set out in the Protocol on the Accession of Georgia to the Treaty establishing the Energy Community. It also establishes 1) a procedure to develop a national energy efficiency target, 2) a procedure for adopting an energy efficiency action plan, 3) an energy efficiency commitment scheme, and 4) aims to implement an energy efficiency policy including MRV.&nbsp;

The Georgian Forest Code sets the legal framework for forestry management, which it seeks to make sustainable. Article 6 of the law notably defines the four following purposes for the country's forests: 1) to preserve the environmental function and biodiversity of forest, to ensure sustainable use of the economic potential of forest and to facilitate the performance of the social function of forest; 2) to facilitate the preservation and restoration of soil protecting and water and climate regulating functions of forest, and to enhance those functions; 3) to use rationally the productivity of forest, including forest resources, and tourism and recreational potential of forest, taking into consideration the receipt of long-term benefits; and 4) to facilitate the harmonised and sustainable development of various sectors of economy (agriculture, energy, etc.) related to forest ecosystem services, and to protect forest ecosystems from negative cumulative effects.<br><br></div><div>According to Article 78, the forest tending is a system of measures which mainly aims at preserving and improving the social and environmental functions of forest, including soil protecting, water and climate regulating and other useful functions/properties of forests.&nbsp;

This law aims to increase energy efficiency, and more broadly a rational use of energy, in buildings, taking into account local weather conditions, well-being and cost-effectiveness.&nbsp;<br><br>The law notably sets minimum energy efficiency requirements (article 4).

<p>Georgia Biennial Transparency Report. BTR1</p>

<p>Georgia First NDC (Updated submission), Nationally Determined Contribution from Georgia in 2021</p>

<p>Facilitative sharing of views record - BUR2 Georgia, Facilitative Sharing of Views Report from UNFCCC Secretariat in 2021</p>


Georgia. National communication (NC). NC 4., National Communication from Georgia in 2021

<p>Georgia's National Inventory Report submitted in 2019</p>

30% of energy consumed coming from renewable energy for 2020




Indicative energy efficiency targets of primary energy and final energy for 2020 (9% and 4%), 2025 (13% and 9%), and 2030 (14% and 11%) compared to the Business As Usual scenario.



National common target indicators of the share of energy received from renewable sources in the total final consumption of energy to reach 35% in 2030 (from 29.5% in 2019)

From Annex I

Nearly zero-energy buildings from September 30th, 2029. This also applies to buildings occupied by public institutions. The requirement is not mandatory when the cost-effectiveness indicator is negative during operational phase.

Reduce of GHG emissions to 15% in transport sector compared to reference scenario projection

Support the low carbon development of the building sector through encouraging climate-goals oriented energy-efficient technologies and services - Less than 4,625 GgCO2e in 2030 compared to 1,954 GgCO2e in 2015.



Support the low carbon development of the industry sector by encouraging climate-friendly innovative technologies and services to achieve a 5% emissions reduction compared to emissions projected under a reference scenario by 2030

Support the low-carbon development of the agriculture sector through encouraging climate-smart agriculture technologies and services. Less than 4,533 GgCO2e by 2030 compared to 4,624 GgCO2e in reference scenario.

Support the low carbon development of the waste sector through encouraging climate-smart agriculture technologies and services. Less than 1,850 GgCO2e by 2030 compared to 1,389 GgCO2e for the 2015 baseline.

Increase carbon capture capacity of forests by 10% by 2030 compared to 2015 (more than -6,183 GgCO2e)

Reduce the GHG emissions to 15% in the energy generation and transmission sector compared to reference scenario projection

Georgia

Documents

Targets (11)