EcoTRA: EcoHousing Trust and Retention Accounts

Marketplace Fininnov
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IIEC (International Institute for Energy Conservation)
www.iiec.org
Country of implementation : India
EcoTRA attempts to finance energy efficiency retrofits in existing residential buildings. EcoTRA proposes to establish trust and retention (escrow) accounts to finance climate-friendly interventions in common areas of co-operative housing societies. The escrow mechanism will reduce the risk of lending, giving banks access to a large number of new clients. Co-operative housing societies will have increased access to finance and lower utility bills; energy efficiency service providers will receive additional business, and large-scale implementation will lead to lower green house gas emissions. The model will be tested in Thane city (pop. 1.2 million, Mumbai Metropolitan Region).

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