In 21 case studies, the EUKI project BEACON evaluated national climate policies in European countries. The Latvian Baltic Energy Efficiency Facility (LABEEF) is a company that was founded in 2016 to facilitate the deep renovation of the Latvian housing sector, which is dominated by prefabricated high-rise buildings erected between 1941 and 1992 during era of Soviet occupation. LABEEF aims to support energy service companies (ESCOs) that implement renovation measures in multifamily buildings based on energy performance contracting (EPC). EPC describes a financing mechanism in which the receivables consists of the cost sav-ings achieved through greater energy efficiency of buildings.
Latvia has a building stock of 39,000 multifamily buildings with a floor area of around 55,000,000 m2. Currently, the average heating energy intensity of the multifamily building stock is at around 160-180 kWh/m2 (Miezis, Zvaigznitis, Stancioff, & Soeftestad, 2016). To achieve the target of the Latvian En-ergy Strategy 2030, the average energy consumption must decrease to 100 kWh/m2. LABEEF aims to modernise at least 20% of all multifamily apartments in Latvia by 2022. If successful, this would trans-late to annual avoided emissions of 21 kg CO2e per m2.
The platform is a market-based instrument that finances itself, which means that, in the long-term, no public money must be spent to achieve CO2e emission reductions.