European Bank for Reconstruction & Development Campaign
Bank Climate Advocates' EBRD Climate Change Work
2024 is a critical year to secure alignment of EBRD’s financial flows with the 1.5°C warming limitation objective. This is because EBRD has released a draft of its Paris Agreement Alignment Methodology, and also its Environmental and Social Policy (ESP) applicable to climate change, for public comment before anticipated adoption later this year.
As such, BCA is applying our legal expertise and insights gained from our extensive analysis of IFC’s policies in our efforts to improve EBRD climate change policy. In April 2024, BCA participated in a consultation EBRD held in Washington, D.C. on its ESP. In May, BCA then drafted and submitted climate change comments on the ESP on behalf of 5 Civil Society Organizations (CSOs) and CSO alliances collectively representing over 50 CSO from the Global South and North. In June, we followed up our May comments on the climate change aspects of EBRD’s ESP by submitting extensive comments grounded in international climate change law on EBRD’s draft Paris Agreement Methodology. This Methodology is critical, as it will be implemented along with the ESP as EBRD’s method to align its finance flows and investments with the 1.5°C warming limitation objective.
To best ensure CSOs' requested climate change protections are included in the ESP and Paris Methodology EBRD adopts, BCA is engaging in advocacy in coordination with our CSO allies. These efforts include participation in stakeholder consultation sessions, advocacy before EBRD management and directors, and further written and oral advocacy before with EBRD management, directors, and key agencies that influence director decisions.
Click here for Joint CSO May 2024 Climate Comments on EBRD’s ESP
Click here for BCA’s June 2024 Climate Change Comments on EBRD’s Paris Agreement Methodology