Full year investment reaches €10.4bn, with green financing making up over 50% for the first time.
The European Bank for Reconstruction and Development (EBRD) has announced that 2021 saw its green financing reach €5.4bn of investment, 51% of its total €10.4bn invested throughout the year.
Green financing made up less than a third of the bank’s investments in 2020, so the rise in 2021 reflects a significant step up in green financing following its recent commitment to bring all investments into line with the Paris Agreement by 2025.
EBRD president, Odile Renaud-Basso commented: “These excellent results underscore the Bank’s strong dedication to continuing to support its clients in the wake of the pandemic as well as its commitment to decarbonise economies and enable the transition to a more sustainable future, with a focus on involving the private sector and supporting reforms to tackle climate change.”
The EBRD’s green financing programmes include the €5bn urban environmental operation EBRD Green Cities, which brings together 53 cities to help identify and support environmental change through infrastructure investment and policy measures.
Annual mobilised investment – the amount made available to clients from entities other than the EBRD due to the bank’s direct involvement – also climbed sharply to €1.8bn, up by 50% on 2020, with a commitment made at COP26 to double private sector investment generated by the bank.