A clearly defined set of standards governs all our work at the European Bank for Reconstruction and Development (EBRD).
We seek to develop a sound investment climate based on an effective legal and regulatory framework which promotes corporate governance, including sound management practices, a firm stance against corrupt practices, disclosure of information, and clear and consistent accounting and auditing practices.
All our operations are guided by the need to promote environmentally sound and sustainable development as well as appropriate procurement practices.
Supporting reforms that strengthen democracy is an important aspect of the EBRD’s mandate, as set out in Article 1 of the Agreement Establishing the Bank. One of the EBRD’s founding principles is that democratic and market reforms go hand in hand, and after more than 20 years of working in the transition region, this has been borne out: the most advanced economic reformers in the region, according to the EBRD transition indicators, have also gone the furthest in building democratic institutions.
The EBRD’s transition concept argues that a well-functioning market economy should be more than just a set of markets; it should be competitive, inclusive, well-governed, environmentally friendly, resilient and integrated.
Environmental and social sustainability
The EBRD is committed to promoting environmentally and socially sound and sustainable development in the full range of our activities.
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 good international practices.
We value gender equality as an integral part of our commitment to promoting sustainable and environmentally sound development across our investment and donor-funded activities. Gender equality is a principal element in the promotion of sound business management and the advancement of sustainable growth in the countries where we invest.
The EBRD is committed to disclosure and transparency. Part of our own check on our record for good governance is our constant dialogue with shareholders as well as other stakeholders such as non-governmental organisations. The process of self-review and dialogue has honed the main three policies that guide the EBRD’s disclosure and transparency:
The reputation and the future of the EBRD depend on our integrity. The EBRD is committed to promote integrity, good corporate governance and high ethical standards in all business operations. The EBRD's Office of the Chief Compliance Officer promotes good governance and ensures that the highest standards of integrity are applied to all the EBRD's activities in accordance with international best practice.