Since 2006, EBRD green finance has totalled more than €36 billion over more than 2,000 projects, with a substantial environmental and transition impact.
The Paris alignment of the EBRD’s financial flows is anchored in Article 2.1(c) of the Paris Agreement, which commits signatories to make "finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development". Alignment of finance, therefore, relates to both the mitigation and adaptation goals of the Paris Agreement.
In June 2021, the EBRD published its “methodology to determine the Paris Agreement alignment of directly financed EBRD investments” for public consultation. This methodology sets out how the EBRD will determine whether projects the Bank may finance are “aligned” or “non-aligned” with the mitigation and adaptation goals of the Paris Agreement.
All relevant projects passing Concept Review Memorandum (CRM) from June 1st 2021 will be subject to an alignment determination – which following approval of the project by EBRD management - will be specified in the projects Board memorandum, along with accompanying evidence.
The scope of the methodology for public consultation is EBRD’s direct finance investments, covering projects that involve specific capital expenditure. Following the public consultation, the feedback received will be taken into account for the issuance of an updated version of the methodology, which will also include sector specific Paris alignment determination guidance. In addition, the approach for other types of finance will be added to the methodology in early 2022.