More than 50% of the European Bank for Reconstruction and Development's (EBRD) investments are directed towards the green sector, Mark Bowman, EBRD Vice President for Policy and Partnerships, said at an event titled "Global Financial System: Expanding Finance for Climate Action" held on the sidelines of COP29, Report informs.
"All EBRD operations have been reorganized in accordance with the Paris Agreement objectives. We evaluate every project we undertake in terms of alignment with the 1.5 C target. EBRD is an institution focused on the private sector, and we have a very specific business model. We help our clients integrate sustainability into management frameworks through financing, technical support, and capacity-building programs. Our goal is to support our clients' operations to reduce emissions, ensure climate resilience, and adapt to a low-carbon world. This is an important element for our clients to remain competitive," Bowman noted.