In accordance with the EBRD Public Information Policy, we disclose green finance results in our Annual Report, Sustainability Report and through the annual Joint Report on Multilateral Development Banks’ Climate Finance.
We report our green finance in line with the approach developed by the multilateral development bank (MDB) joint climate finance group. In addition, the EBRD shares climate finance data with many partners, including the OECD, the UNFCCC and the Climate Policy Initiative.
We assess the expected impact of our operations at the project level. This includes assessments of energy savings, renewable energy production, greenhouse gas emission reductions, water savings and waste reductions. Using the International Financial Institution Framework for a Harmonized Approach to GHG Accounting to report on emissions, we disclose these impacts in both our annual and sustainability reports.
For detailed information about how the EBRD tracks and reports its climate finance and impacts, see our GET Handbook.
The EBRD engages, advises and is an active member of several working groups and networks in the climate finance sector. These include, the joint MDB climate finance group, the European Expert Group on Sustainable Finance, the IFI Group on greenhouse gas reporting, UNFCCC Standing Committee on Finance, Climate Action in Financial Institutions, and the Green Bond Principles.
The recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) were released in July 2017. Since then they have been rapidly adopted as good practice for transparency in relation to climate-related risks and opportunities, and for climate-related corporate governance more broadly, by more than 500 organisations responsible for assets of more than USD 100 trillion.
Recognising the relevance of the TCFD recommendations, in May 2018 the EBRD was the first MDB to become a TCFD supporter. Thanks to our strong track record on climate action over the past two decades, the Bank is already performing a number of key elements of the TCFD recommendations that will continue to be updated in light of the EBRD’s alignment with the 2015 Paris Agreement, as well as evolving best market practices.
The Bank is exploring options for sharing TCFD good practices with businesses and partner financial institutions in countries where the EBRD works, thus supporting the dissemination of these recommendations across emerging markets.
The EBRD has also led ground-breaking thought leadership work on the physical climate aspect of TCFD recommendations, which was presented at a major international conference in May 2018, entitled ‘Advancing TCFD Guidance on Physical Climate Risks and Opportunities’.
Joint reports on MDB climate finance
IFI approaches for GHG accounting
Joint MDB approach for tracking climate finance mobilisation
IFI principles for climate bond impact reporting