The EBRD’s sustainable development model recognises that a well-functioning market economy should be green – in other words, environmentally friendly. EBRD donors strongly back our Green Economy Transition approach: over the past decade they have provided over €1.4 billion for climate finance.
Many EBRD countries of operations, especially in the former Soviet bloc, have seen years of wasteful energy use and environmental neglect. Some are also particularly vulnerable to the effects of climate change. Meanwhile, in the southern and eastern Mediterranean region, water stress and the misuse of resources are common. Despite noticeable improvements in recent years, some countries still lag behind.
To support them, the Bank combines green investments with donor-funded grants for technical assistance, (for instance, for energy audits), and concessional finance to make investments in energy efficiency and climate change adaptation more affordable. In addition, donors support the Bank’s work with governments to prepare and implement green reforms.
In 2016, donors provided over €250 million for these activities. The two biggest contributors were the Climate Investment Funds and the European Union, followed by a range of bilateral donors. These include Austria, Finland, France, Germany, Japan, the Netherlands, Norway, Spain, Sweden, Switzerland, Taipei China, the United Kingdom and the United States of America.
Mindful of the 2015 Paris Agreement and the UN Sustainable Development Goals, in 2016 the EBRD continued to play its part. For example, the Bank helped industries and households adopt cleaner technology, increase the use of renewable energy and strengthen the capacity of our partner banks to unleash investments in resource efficiency. The environmental impact of this work has helped prevent 85 million tonnes of CO2 emissions in 2016, equivalent to the emissions of a country such as Austria.