The European Bank for Reconstruction and Development (EBRD) allocated about 43% of its annual investments in green finance in economies stretching across three continents in line with Green Economy Transition (GET).
"We leverage significant volumes of additional
finance from third parties, particularly from the private sector,"
according the Bank's Sustainability Report 2017.
"In 2017, we made our cities safer and greener.
We launched our first Economic Inclusion Strategy to enhance access to economic
opportunities for women, young people and regional populations. We continued to
support sustainable transport projects, and we maintained a high level of
investment in energy efficiency projects through Green Economy Financing
Facilities (GEFFs), which deliver finance through local banking networks."
The Green Economy Transition (GET) approach builds on
a decade of successful climate and resource efficiency investments by the Bank.
"When we launched GET at the end of 2015, we
sought to increase the Bank’s volume of green financing from an average of 25
percent of our ABI over the last decade to 40 percent by 2020. We achieved this
target in 2017 — three years ahead of schedule."
The EBRD is leading international action on the
transition to a green economy. "We coordinate MDB climate finance
reporting, help to develop standards and metrics for climate resilience
investments, and feature prominently at the Conference of the Parties (COP)
events, engaging with high profile stakeholders. The transition to a green
economy creates numerous opportunities for growth."
Sustainability is a core part of the EBRD’s work.
Whether it’s improving public transport, ensuring a safe water supply,
repairing roads or boosting renewable energy, "our investments make a real
difference to peoples’ lives."
The EBRD’s transition mandate explicitly recognizes
“green” as an integral quality of a sustainable market economy. Most EBRD
countries of operations began the transition process at a significant
disadvantage: hampered by a legacy of widespread environmental neglect and
wasteful energy use.