Podgorica, 8 November 2024 – PThe United Nations Development Programme (UNDP) and Electric Power Company of Montenegro AD Nikšić (EPCG) have signed a Memorandum of Understanding to strengthen collaboration in green development and sustainability. The memorandum was signed by Ekaterina Panikova, UNDP Resident Representative in Montenegro, and Ivan Bulatović, CEO of EPCG, marking the official start of a partnership and a shared commitment to a just green transition and increased efficiency in achieving development goals.

This Memorandum provides a framework for strategic cooperation between UNDP and EPCG in key areas of green development, including creating conditions for improved environmental care, establishing mechanisms to support programs that stimulate green job creation and contribute to a fair green transition, and promoting private and public investments in low-carbon development.

Through this Memorandum, UNDP and EPCG have agreed to work together to enhance social responsibility and implement the highest professional and ethical standards by investing in people, green energy, new technologies, digital transformation, and optimal resource utilization.

UNDP Resident Representative in Montenegro Ekaterina Panikova noted that the signing of the Memorandum is an important step toward UNDP and EPCG’s shared vision for a just green transition and sustainable development in Montenegro.

“UNDP in Montenegro is deeply committed to advancing sustainable development, with a primary focus on building a resilient, inclusive, and green economy. As part of this agenda, we have partnered with EPCG to support Montenegro’s decarbonization goals and the measures outlined in the Just Transition Roadmap. This collaboration aligns with the Growth Plan for the Western Balkans, where EPCG plays a crucial role in implementing initiatives toward a greener future. Together, we are investing in energy efficiency, developing prosumer communities – those who both produce and consume electricity – and equipping people with the skills necessary for green jobs. This Memorandum of Understanding lays the groundwork for meaningful, long-term change that is innovative, sustainable, and fair for all citizens, leaving no one behind”, she stated.

EPCG CEO Ivan Bulatović emphasized that by signing this Memorandum with the UNDP, EPCG demonstrates its commitment to building a more sustainable and environmentally responsible future for Montenegro. “This agreement represents a significant step forward in our efforts to support green and inclusive development and the shift to a low-carbon economy through cooperation with a globally recognized partner. Under this Memorandum, we lay the foundations for concrete actions in green energy, digital transformation, and the promotion of social responsibility through joint projects and initiatives. We also aim to encourage the development of new green jobs and provide support for a fair transition, benefiting the community, economy, and future generations,” Bulatović said.

Bulatović thanked UNDP for its partnership and trust and expressed anticipation for future joint activities that will strengthen efforts to protect the environment and improve energy efficiency in Montenegro. “Through this collaboration, EPCG reaffirms its vision as a company that invests in people, green energy, and innovation for the benefit of all Montenegrin citizens”, Bulatović concluded.

Considering EPCG’s pioneering role in the prosumer community in Montenegro, the CEO of EPCG will speak at the largest climate conference, COP29 in Baku, as part of a UNDP panel on achieving net-zero energy consumption in buildings.

The Memorandum is signed for a period of four years, with the possibility of extension, underscoring the long-term commitment of UNDP and EPCG to their shared goals.