The EBRD now invests in sustainable resources via its Green Economy Transition approach.
Policy dialogue between the EBRD and the governments and other public sector clients as well as private sector associations of its region was an essential element in the implementation of the SRI between 2012 and 2015.
By shaping the legal and regulatory environment to be more conducive to sustainable resource investments, policy dialogue delivered a transformational impact that was bigger than the sum of the impact from individual projects.
The EBRD uses policy dialogue to support ‘top-down’ policy-making, i.e. supporting the implementation of policies which create an environment that fosters sustainable resource projects. The EBRD also supports ‘bottom-up’ evidence-based policy-making, where experience from projects is fed back to governments and the investor community to help remove real barriers to the further growth of a sector.
In this way, policy dialogue enables the EBRD to address market or regulatory barriers at any level of government (national, regional and local levels) or sector of the economy.
Key countries in which the EBRD has or is carrying out policy dialogue around energy efficiency are Ukraine (energy efficiency in the built environment and renewable energy policy), Kazakhstan (renewable energy policy and urban waste management), the Western Balkans (renewables, buildings energy efficiency, ESCOs), and Turkey (urban waste management, ESCOs).
The EBRD’s policy dialogue achieved real outcomes making a difference to both investors and people in the countries. Ukraine used the Bank’s support in developing renewable energy legislation that led to projects being financed. Kyrgyzstan with the Bank’s support adopted building regulations that are based on EU standards, and several countries in the Western Balkans adopted renewable energy regulatory measures that have already delivered additional projects.