Budapest was one of 25 European cities selected to join the NetZeroCities Pilot Cities Programme, the office said in a statement.
The Budapest Climate Agency will support residents’ energy efficiency investments, thereby accelerating the reduction of greenhouse gas and particulate matter emissions, they said.
The establishment of the Budapest Climate Agency is part of a comprehensive large-scale support scheme devised by the Budapest city council to handle energy efficiency investments and combat energy poverty, the statement said. The agency will apply the internationally accepted Super ESCO business model based on public and private sector cooperation, it added.
The Budapest Climate Agency is expected to begin operating in 2024 and will be tasked with managing the planning of subsidy schemes to be offered by banks, the statement said.