A clearly defined set of standards governs all our work at the European Bank for Reconstruction and Development (EBRD).
We seek to develop a sound investment climate based on an effective legal and regulatory framework which promotes corporate governance, including sound management practices, a firm stance against corrupt practices, disclosure of information, and clear and consistent accounting and auditing practices.
All our operations are guided by the need to promote environmentally sound and sustainable development as well as appropriate procurement practices.
Multiparty democracy and pluralism
Supporting reforms that strengthen democracy is an important aspect of the EBRD’s mandate, as set out in Article 1 of the Agreement Establishing the Bank. One of the EBRD’s founding principles is that democratic and market reforms go hand in hand, and after more than 25 years of working in our regions, this has been borne out: the most advanced economic reformers, according to the EBRD transition indicators, have also gone the furthest in building democratic institutions.
The EBRD’s transition concept argues that a well-functioning market economy should be more than just a set of markets; it should be competitive, inclusive, well-governed, environmentally friendly, resilient and integrated.
Environmental and social sustainability
The EBRD is committed to promoting environmentally and socially sound and sustainable development in the full range of our activities.
We seek to ensure that the projects we finance are socially and environmentally sustainable, respect the rights of affected workers and communities and are designed and operated in compliance with applicable regulatory requirements and good international practices.
Additionality is the particular support or input that the EBRD brings to an investment project which is not available from commercial sources of finance.
We value gender equality as an integral part of our commitment to promoting sustainable and environmentally sound development across our investment and donor-funded activities. Gender equality is a principal element in the promotion of sound business management and the advancement of sustainable growth in the countries where we invest.
The EBRD is committed to disclosure and transparency. Part of our own check on our record for good governance is our constant dialogue with shareholders as well as other stakeholders such as non-governmental organisations. The process of self-review and dialogue has honed the main policies that guide the EBRD’s disclosure and transparency:
Integrity and compliance
The reputation and the future of the EBRD depend on our integrity. The EBRD is committed to promote integrity, good corporate governance and high ethical standards in all business operations. The EBRD's Office of the Chief Compliance Officer promotes good governance and ensures that the highest standards of integrity are applied to all the EBRD's activities in accordance with international best practice.
Preventing Sexual Harassment, Abuse and Exploitation
Recognising the important role it plays in both the example it sets in its own institutional practices and in the high standards it adopts in projects and operations, the EBRD is committed to advancing standards to prevent sexual harassment, abuse and exploitation. In 2018, EBRD worked with a group of 9 other international financial institutions to agree on 7 joint principles to prevent sexual harassment, abuse and exploitation, and provide an update on how the IFIs are implementing these principles.