Green Finance

A crucial component of the initiative is the promotion of Crystal’s green product line. The first challenge was the lack of awareness of green products, both among Crystal employees and in the wider community. Awareness raising campaigns started within Crystal as introductory presentations took place in each branch. The next stage, supported by technical assistance from FMO, focused on driving uptake of green alternatives from Crystal customers, promoting the financial and environmental benefits of their use.

For Crystal customers, an information campaign of booklets and educational videos on the benefits of green alternatives was combined with targeted distribution of green products. One example was the donation of four energy efficient stoves and hazelnut shell briquettes to selected customers, recording their experiences and posting them on our social media channels.

This campaign has been expanded with the help of a $1.5 million loan from the Green for Growth Fund, which includes $15,500 of technical assistance to drive a marketing campaign and provide further training. Expert insight is provided by the Frankfurt school and local partner Energy Efficiency Centre Georgia, who have delivered targeted training to 100 loan officers. Loan officers have been further incentivised to disburse green loans as part of the “Green Olympics”, which has implemented a system of accountability.

Currently, the focus is on promoting the benefits of 7 key low-carbon emitting alternatives:

  • Renewable energy technology (solar water heaters, solar panels);
  • Eco-friendly building materials;
  • Energy efficient home appliances, including lightbulbs, washing machines and other white good;
  • Central heating systems;
  • Electric and Hybrid cars;
  • Compressed Natural Gas (CNG) systems;
  • Drip irrigation systems;