EBRD President Sir Suma Chakrabarti chairs talks this week setting out goals for December’s crucial Paris Climate conference at a high-level Delhi summit that is focussing on the key global development goals for 2015.
The Delhi Sustainable Development Summit is being held from 5-7 February, under the banner of "Sustainable Development Goals and Dealing with Climate Change".
The EBRD is at the centre of international efforts to drive forward the post-2015 development goals - especially in the provision of private finance for development - and is a pioneer in sustainable energy financing that plays a key role in combatting climate change.
On Friday, Sir Suma will lead a ministerial-level session at the Delhi Summit entitled, “The Agreement that the World Needs at COP 21”, looking ahead to the December talks to be chaired by France which aim to deliver an international climate agreement.
Speaking ahead of the Delhi conference, Sir Suma said, “The world is facing a crucial test. Reaching a meaningful Paris climate accord will demand considerable political leadership especially at this time of continued economic fragility and persistent geopolitical tensions.”
However, he saw growing momentum towards an agreement at the Paris meeting, reflecting a greater sense of commitment since last September’s UN climate talks in New York. He was also encouraged by strong demand for the EBRD's own sustainable energy investments.
The EBRD is making an important contribution to addressing the challenge of climate change, with a proven track record in sustainable energy financing that is driving forward the green growth agenda across 35 countries.
Since the launch of its Sustainable Energy Initiative in 2006, the EBRD has invested over €15billion in climate finance, promoting energy efficiency projects and the development of renewable energy sources in projects with a total value in excess of €80 billion.
Sustainable energy is continuing to grow as a share of overall EBRD financing, accounting for over one-third of annual investments. Moreover, over two-thirds of these investments are in the private sector, underscoring the importance the EBRD attaches to bringing private finance to the task of tackling climate change.
Innovative credit lines for energy efficiency and renewable energy investments reach tens of thousands of companies and households from Turkey to the Kyrgyz Republic as the EBRD works with local banks that finance sustainable energy projects.
The EBRD has built up a network of 104 banks in 22 countries, channelling over €2.2 billion to over 55,000 borrowers.