The EBRD now invests in sustainable resources via its Green Economy Transition approach.
The Sustainable Resource Initiative SRI was an umbrella initiative which promoted efficiency and innovation in three areas vital for countries where the EBRD invests: energy, water and materials. The rapid growth in demand for resources, volatile prices, and growing environmental concerns including those about the impacts of climate change, have made resource efficiency a priority for all countries.
In addition, the SRI drove water and materials efficiency, including through the promotion of recycling and the reuse of waste streams. The focus on water efficiency was particularly relevant as the EBRD developed its activity in the southern and eastern Mediterranean region, and further grows it in Central Asia.
As part of its policy dialogue activities, the SRI also worked with governments to support the development of strong institutional and regulatory frameworks that are the prerequisite to deliver sustainable resource investments.
Turkey imports 75 per cent of its energy needs and the country’s consumption of energy is forecast to double in the next 10 years. The need for action is urgent.