Six-month payback in UNIDO-IRI green program
The United Nations Industrial Development Organization (UNIDO) announced the first results of the ‘MED Transfer of Environmentally Sound Technology (TEST) II’ project that was launched in 2015. The program aims at assisting industrial companies in switching to sustainable consumption and production. Practical results from eight factories that applied to the project have resulted in a saving of over €1.6 million ($1.9 million) annually.
TEST II addresses rising energy raw material costs by showing how best practices in resource efficient and cleaner production can be integrated into business operations. UNIDO supported the program with a €1.4 ($1.75) million fund.
UNIDO, in partnership with the Industrial Research Institute (IRI), has been conducting resource efficiency and cleaner production assessments in eight pilot companies in the food and beverage sector. These companies include Malco Group, A-Z Manufacturing & Trading, Chamssine Bakeries, Dirani Group, and others.
Most of the identified measures had a payback period of less than six months. For instance, Malco invested €1 million ($1.25 million) in this project but saved around €1.2 million ($1.5 million) in one year.
Fadi Gemayel, Chairman of Association of Industrialists (ALI), said that this project has shown that industrialists are aware of environmental issues, and that the efficient use of resources is their added value. “We need another phase for the project to include other sectors and more companies,” he said.
UNIDO announced a plan to extend the program for the period of 2018-2020.
Date Posted: Jan 31, 2018