Preserving and improving the environment are central features of a modern, well-functioning market economy and therefore key goals of the transition process that the EBRD was set up to promote.
The EBRD launched the Green Economy Transition (GET) approach in 2015 to put investments that bring environmental benefits at the heart of the EBRD mandate. The GET approach builds on a decade of successful climate and resource efficiency investments by the Bank.
The EBRD has been working to minimise the environmental impact of its annual meetings in recent years and seeks to offset unavoidable emissions by supporting international climate protection projects. Since 2013, carbon credits have been purchased and retired at least equivalent to the greenhouse gas emissions associated with the organisation of the Annual Meeting. This year, EBRD has secured the purchase of offsets from a project it finances in Mongolia: the ‘Salkhit Wind Farm’. The project, operational since 2013, was the first renewable energy project in Mongolia.
The efforts go beyond the mere compensation with offset from clean energy projects. The Bank actively seeks to reduce the amount of waste produced in the run up and during the Annual Meeting and Business Forum. Examples include circulating electronic invitations and sharing information via mobile technologies. There is also a strong emphasis on waste recycling, reducing the use of plastic bottles by providing reusable flasks to all participants and sourcing environmentally friendly merchandise.