Following the review of the 2014 Environmental and Social Policy, the Bank is pleased to announce the launch of its new 2019 Environmental and Social Policy, which will come into effect on 1 January 2020.
The new 2019 Environmental and Social Policy and related Performance Requirements were approved by the EBRD Board of Directors on 25 April 2019 and they will apply to projects initiated after 1 January 2020. The Policy will be reviewed in 2024.
Sustainability is one of our core values and underlies all of EBRD’s activities. The Environmental and Social Policy is one of the Bank’s three good governance policies and a key document that guides the EBRD’s commitment to promoting “environmentally sound and sustainable development” in the full range of its investment and technical cooperation activities. It sets out the ways in which we implement this commitment in practice and on our projects.
The Policy and Performance Requirements were reviewed over a year and a half long period through extensive internal and external consultation, culminating with a 45-day public consultation period on the draft Policy and in-person consultation events in eight countries. We thank everyone who took the time to comment on the draft policy and believe the final document is significantly improved as a result of the consultation.
The new 2019 Environmental and Social Policy has been posted on the EBRD website, along with a report on stakeholder engagement comprising comments from the public meetings as well as written submissions.
An overview of the new Policy will be provided at its official launch at the EBRD 2019 Annual Meeting in Sarajevo on 9 May.
Along with the Bank's Public Information Policy and Project Complaint Mechanism, the ESP defines the Bank’s commitment to the principles of environmentally sound and sustainable development and good corporate citizenship.
Download the 2014 ESP in other languages