BAKU, Azerbaijan, May 11. The European Bank for Reconstruction and Development (EBRD) financing for “green” energy projects accounted for 51 percent of the total funding in 2021, Trend reports via EBRD’s Annual Review.
The Bank’s “green” financing over the past year amounted to 5.4 billion euros, which is an increase of 68.7 percent, compared to 3.2 billion euros in 2020. This is the more than the EBRD has ever invested in the sector.
In its Sustainability report, the EBRD mentioned the importance of the support for the urgent decarbonization of the energy sector, and its commitment to stepping up the investment in renewable energy and associated energy systems. The Bank will also further narrow and limit fossil-fuel financing.
Meanwhile, the EBRD’s target is to become a “green” majority bank by 2025.
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