Action to minimise and adapt to climate change is the economic growth story of the coming decades. The EBRD believes it best serves its clients and countries by helping them to reduce the risks and capture the opportunities of the transition to a low-carbon world.
The EBRD is working to meet firm commitments it has made on climate action. For instance, it has developed an approach to align all its activities with the goals of the Paris Agreement. The EBRD will apply the approach, which is in line with an operational framework developed in cooperation with other Multilateral Development Banks (MDBs), to assess all its projects for alignment with the climate goals of the agreement from the beginning of 2023.
Meeting this commitment will affect how we engage with our clients and what investments we choose to make. In some cases, it will involve working with clients on their climate governance to help them grow and prosper as physical and policy climates change. The EBRD Corporate Climate Governance Facility is the main platform through which we will provide this support.
The EBRD is also working to enhance its own impact and performance by improving its climate governance. It was the first multilateral development bank to become a supporter of the Task Force on Climate-Related Financial Disclosures (TCFD), a framework that is foundational for emerging global standards for climate-related disclosures. The EBRD has implemented many TCFD recommendations and disclosed climate-related information in several dedicated TCFD reports.