Region: Europe and Central Asia
Country: European Union
Sector: Energy and Power
The Sustainable Resource Initiative SRI was an umbrella initiative which promoted efficiency and innovation in three areas vital for countries where the EBRD invests: energy, water and materials. The rapid growth in demand for resources, volatile prices, and growing environmental concerns including those about the impacts of climate change, have made resource efficiency a priority for all countries.
The SRI was the EBRD’s response to these resource challenges from 2012 to 2015. The SRI financed energy efficiency, renewable energy, and adaptation projects through the Bank’s Sustainable Energy Initiative which was launched in 2006.
In addition, the SRI drove water and materials efficiency, including through the promotion of recycling and the reuse of waste streams. The focus on water efficiency was particularly relevant as the EBRD developed its activity in the southern and eastern Mediterranean region, and further grows it in Central Asia.
The SRI relied on the EBRD’s proven business model of combining finance with technical assistance and policy dialogue. The SRI used the full range of the EBRD’s instruments to finance sustainable resource projects across the Bank’s region. These projects benefited from technical assistance, ranging from market analysis and resource audits to training and awareness raising, as well as EBRD investment.
As part of its policy dialogue activities, the SRI also worked with governments to support the development of strong institutional and regulatory frameworks that are the prerequisite to deliver sustainable resource investments.
To enable these projects, the EBRD had an in-house Sustainable Resources and Climate Change team of more than 40 specialists, including engineers, finance specialists and policy experts who worked directly on projects with bankers and clients.
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Updated: September 15, 2021