Region: Europe and Central Asia
Country: European Union
Keywords: Climate Smart
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 EBRD addressed energy efficiency and climate change projects including renewable energy and adaptation projects through its SEI from 2006 to 2015. The SEI was launched with the aim of scaling up sustainable energy investments in the Bank’s region, improving the business environment for sustainable investments and removing key barriers to market development.
The SEI used the full range of the Bank’s financial instruments to finance sustainable energy projects across the bank. SEI projects were diverse – the EBRD supports energy efficiency improvements in the corporate sector, including the agribusiness, manufacturing and service sector.
When market barriers were too high to allow projects to go forward, the Bank supported eligible clients by obtaining donor funds from bilateral and global partners such as the Climate Investment Funds (CIF), the Global Environmental Facility (GEF), the EU, and others.
SEI projects also benefitted from the Bank’s ability to deliver technical assistance to its clients and governments. For example, to support its clients with project preparation and implementation, the Bank offered technical assistance products such as market analyses, feasibility studies, energy audits, and training and awareness raising.
As part of its policy dialogue activities, the SEI worked with governments to support the development of strong institutional and regulatory frameworks that incentivise sustainable energy investments.
Updated: October 25, 2021