The EBRD GET Monitoring, Reporting and Verification (MRV) system defines the characteristics of our green projects
The EBRD started systematically tracking green investments in 2006. In the last decade we have provided more than €19 billion for energy efficiency and renewable energy investments, for projects that promote water and materials efficiency and to help our clients adjust to the impact of climate change.
By the end of March 2016, the EBRD’s green investments had saved the equivalent of 78 million tonnes of greenhouse gas emissions per year, more than Romania’s annual CO2 emissions related to energy use.
At the same time, EBRD projects that promote water efficiency have led to more than 33 million m3 of water savings per year, which is equivalent to the annual water consumption of Prague’s population.
Investments aimed at optimising materials efficiency have resulted in a reduction of 1 million tonnes of waste per year, comparable to all waste landfilled in Lithuania in 2010.
The EBRD has set up a robust MRV system, in line with internationally established practice. The system’s guidelines define the characteristics of green projects and project components and they determine the data required for monitoring.
The system's guidelines define the characteristics of green projects and project components and they determine the data required for monitoring.
Every EBRD investment is screened for its green potential by technical experts, at an early stage of the project cycle. Projects can be classified as not green, 100 per cent green, or partially green. In these cases, the financial value of the green investment components is determined.p>
For every fully or partially green project, an estimate is made of the energy savings, renewable energy production, greenhouse gas emission reductions, water savings and materials savings or waste reductions. This information is tracked in the EBRD’s MRV database and reported to our Board of Directors on a quarterly basis.
The EBRD is furthermore actively involved in working towards harmonised approaches for tracking green finance and reporting on green impact. To this end, the EBRD works closely together with other development finance institutions and key stakeholders such as the OECD and the UNFCCC.
Each year, the EBRD reports jointly with the other multinational development banks on its annual climate finance.
It is also involved in working groups aiming to establish joint impact reporting guidelines for greenhouse gas emissions, and methodologies for tracking and reporting on climate finance mobilisation.