Sustainability Report 2014
The EBRD is investing in changing people’s lives and environments from central Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean region.Intro
In 2014377 + 170 + 10.5 + 390 + 8.9 projects + sustainable energy projects + million tonnes of water saved + thousand tonnes of waste avoided + billion euros invested in new projects
Estimated CO2 savings8.8
Upcoming EventsCOP21 The EBRD will participate in the UN Climate Change Conference in Paris, France in 2015
Annual Bank Investment + Carbon footprint + Category A projects
€3 billion invested in sustainable energy projects, accounting for 34 per cent of our ABI + 100 per cent of CO₂ emissions offset for the EBRD's Annual Meeting + 13 Category A projects required an ESIA in 2014; 8 proceeded to Board for review and approval
Gender equality12 + 15 investments signed with a gender component + donor-funded commitments totalling €1.2 million for gender activities
Overview > Introduction
We invest in changing lives
The EBRD is committed to promoting environmentally and socially sound and sustainable development. We seek to ensure that the projects we finance are socially and environmentally sustainable, respect the rights of affected workers and communities, and are designed and operated in compliance with applicable regulatory requirements and international good practices.
The Sustainability Report 2014 looks at how we have delivered on our commitment to environmental and sustainable development and reports on results during the financial year ending 31 December 2014. The report focuses on three key aspects of sustainability at the EBRD:
Overview > About the EBRD
About the EBRD
The EBRD is investing in changing people’s lives and environments from central Europe to Central Asia, the Western Balkans and the southern and eastern Mediterranean region. Working together with the private sector, we invest in projects, engage in policy dialogue and provide technical advice that fosters innovation and builds sustainable and open market-oriented economies.
We are owned by 64 countries, the European Union and the European Investment Bank. We work primarily with the private sector and, since our establishment in 1991, we have become the largest financial investor in the EBRD region.
This Sustainability Report has been prepared using the framework of the Global Reporting Initiative (GRI) G3 Indicator protocols and the GRI Financial Sector Supplement. The Bank has a self-declared “B” rating according to the GRI application levels. The GRI Content Index is published here.
The following publications provide additional information on the EBRD’s business activities and results in 2014:
- Annual Report
- Financial Report
- Donor Report
- Integrity and Anti-corruption Report
- Annual Evaluation Review
In accordance with our Public Information Policy, we also publish information on individual projects (including environmental and social impacts) through our online project summary documents database.
Our internal performance
We are committed to minimising the environmental impact of our offices and business activities. Click here for further information.
Overview > A message from EBRD president
A message from Suma Chakrabarti,
2014 was a significant year in our approach to sustainability. We mobilised record investments for sustainable energy projects. We launched our new Environmental and Social Policy, after extensive consultation with clients, governments and civil society. And we saw positive results and impact from our initiatives to promote resource efficiency, gender equality and economic inclusion across our region. Thank you for your interest in the EBRD and if you have any feedback please contact us.
Overview > EBRD approach to sustainability
EBRD approach to sustainability
The EBRD makes a significant contribution to sustainability through its investments. These investments aim to advance the transition to market-oriented economies, set the highest standards of corporate governance and promote environmentally sound and sustainable development.
Sustainable development is central to the EBRD’s mandate. Our approach to sustainability is multifaceted and involves:
- incorporating environmental and social requirements into the appraisal and implementation of all Bank-funded projects based on European Union standards and international good practice
- providing finance and technical assistance specifically aimed at addressing environmental and social issues
- promoting social inclusion and access to community services such as water and public transport
- supporting projects that promote gender equality
- encouraging public participation through pre-investment consultation and information disclosure, and maintaining regular strategic dialogue with civil society organisations and other stakeholders.
Our work in 2014 demonstrates our commitment to each of these objectives. This year we conducted an extensive review of the Bank’s Environmental and Social Policy, which involved one of the largest stakeholder consultation exercises the EBRD has ever undertaken. This review aimed to build on our experience of implementing the previous policy, while maintaining our position at the forefront of good practice. The revised policy introduced new areas of focus for the Bank and codified existing practice in others, including human rights, gender, road safety and animal welfare.
Investing in climate mitigation and adaptation is a major focus for the EBRD. In 2014 we invested over €3 billion through our Sustainable Energy Initiative (SEI), which accounts for 34 per cent of total investments. This year our cumulative investments under the SEI exceeded €15 billion, supporting over 850 projects worth more than €80 billion in total. We have built on the success of this approach to develop the Sustainable Resource Initiative (SRI), which draws on the EBRD’s experience with energy efficiency and applies the knowledge we have gained to water usage and materials efficiency.
We signed 12 investments with either a gender focus or component. These included: the launch of Women in Business programmes in Egypt, Turkey and the Western Balkans, which address women’s access to finance from both a demand and a supply perspective; projects that aimed to increase access to skills and employment in Egypt and Turkey; and projects that ensured improvements in access to services such as public transport or water in Egypt and Morocco.
We also launched our Financial Intermediary Sustainability Index. This was designed to help our partner financial institutions understand how they are responding to sustainability issues and the extent to which they are implementing a systematic approach to managing these issues. By the end of 2014 approximately 250 banks had signed up to participate.
In this report you will find detailed information about these and many other projects and initiatives. We also remain committed to operating in a transparent and accountable way. Measuring and reporting on the impacts of our projects is an important objective for the EBRD. For example, this report contains data on greenhouse gases, health and safety, and project monitoring. In future years we hope to expand and enhance the range and quality of our impact reporting.
Looking ahead, 2015 is likely to be a watershed year for sustainability with the anticipated UN Sustainable Development Goals and the COP21 Climate Change Conference in Paris in December. At the EBRD we remain committed to making these processes a success and to playing our part in achieving their outcomes in the countries where we invest.