EBRD to turn half green, despite opposition from US

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By Jon Hay
10 Jul 2020

The European Bank for Reconstruction and Development’s board of directors has approved a proposal to accelerate its transition towards being a green bank, including devoting over 50% of its investments to the green economy by 2025. But it has deferred a decision on when the rest of its activities will be aligned with the Paris Agreement.

The new approach will come into effect when the EBRD’s shareholders approve its overall new strategy at their annual meeting in October, and is due to start operating from January 2021.

The EBRD is owned by 69 countries including the US and Russia, as well as the European Union ...

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