The EBRD’s stance towards reducing our carbon footprint remains a strong one as their investments into such programs remain as high as ever. They continue to work hard on cutting energy waste and increasing production of clean energy in countries that are three-times more energy intensive than the EU average.

In total, over the last ten years, the EBRD have invested over €1 billion on energy efficiency and climate change projects, funded by donors. The EBRD, who remain as the largest investor in such projects, is seen as a catalyst for investment in its region and is also recognised by the international donor community. In 2014, CO2 emissions are said to have decreased by over 7 million tonnes last years as a result of the EBRD’s investment and donor funding, this equates to over 3 million cars on the road over the same time frame. Bilateral donors make up for nearly a third of all donor resources coming from members of the EU such as; Austria, France, Germany, the Netherlands, Spain and the UK. Another third of donor resources was received from the European Union itself, which makes it the EBRD’s largest single donor.

The investments into the effects of climate change and how to deal with the result can be seen with one of the first projects funded by the UK, studies into adaptation to climate change, yielding great results. It meant that we could integrate climate risk assessments and adaptation measures into what we do. The continuous streams of donor support are used in many ways; one of the most beneficial ways is through credit lines. The donors allow financial institutes to set up credit lines which in turn help businesses to become more efficient and helpful to the planet. Businesses are constantly learning about how energy efficiency makes economic sense and that by becoming more ‘energy efficient’ they are also benefitting themselves in the long-run. 12 million MWH (the average annual electricity consumption of Bosnia and Herzegovina) was saved in 2014 through over 70,000 loans disbursed through the vital credit lines.

As well as bilateral funding, the EBRD has also seen a welcome increase in large global intermediary funds which has allowed them to continue their quest for a greener planet. Over €300 million has been freed for use after deals were agreed with the Climate Investment Funds (CIF) and the Global Environment Facility (GEF) with another €130 million on the way. These partnerships go beyond money though as seen with the Green Climate Fund who have made other helpful resources available including; dialogue on policy issues and steps to take and how to respond to climate change. Another good example of such partnership lies in Ukraine where a credit programme has been set up leaving aside €140 million for small and medium sized energy products. The programme is supported by CIF was created as an incentive for the private sector to invest in renewable sources.

The EBRD are also using the donor support to promote innovative clean technology. These technologies have been praised and have been suggested to create a more efficient and more sustainable future. The EBRD has a vital part to play as it tries to make these technologies affordable to governments and the private sector. Yerevan, capital of Armenia, has already benefited from new energy efficient LED lighting thanks to an EBRD loan as well as a grant from the Eastern European Energy Efficiency and Environment Partnership.

Countries will continue to reap the benefits of the EBRD’s good work as they have set a target investment figure of €18 billion over the next five years. Donor partnerships will remain an integral part of the setup as EBRD continue to make the world greener, step by step.