The EBRD aims to connect the countries where it invests with current and future carbon markets to facilitate the transition towards a sustainable energy future. We manage carbon funds, assist clients in developing their carbon assets, build capacity and engage in policy dialogue.
The EBRD has considerable experience in carbon markets, with support for over 30 Joint Initiative (JI) and Clean Development Mechanism (CDM) projects. Carbon credits were also sourced by the EBRD, primarily from projects it financed, for the account of sovereign and private fund participants. This allowed the EBRD to link supply and demand of greenhouse gas emission reductions in a region that lacked a clear route to market.
The EBRD is actively involved in supporting a range initiatives such as the voluntary carbon market, carbon off-set mechanisms, new emissions trading schemes or taxation of emissions. One example of this is the support provided for carbon market development to local Turkish banks within the Mid-size Sustainable Energy Financing Facility (MIDSEFF) .
The EBRD also offers technical assistance to support its credit-generating clients in dealing with the complexities of carbon markets, ranging from the preparation of project design documents to the development of new baseline and monitoring methodologies and from validation to monitoring, reporting and verification (MRV) services.
The EBRD’s carbon markets development work also addresses the need for capacity building, in particular focused on the creation of an enabling environment for carbon markets. The EBRD aligns its assistance with host country priorities and existing technical cooperation programmes, including the World Bank’s Partnership for Market Readiness, and is involved in multilateral efforts to build MRV systems.
The demand for greenhouse gas emissions reductions: