EBRD slips behind EIB into green slow lane

Enguri hydroelectric dam renewable Georgia from EBRD for use 575x375
By Jon Hay
14 Jul 2020

The European Bank for Reconstruction and Development is launching the second phase of its Green Economy Transition approach and hopes to help policymakers make the recovery from the coronavirus pandemic a green one. But critics say its plans are little more than “business as usual” and that even the activities it classes as green sometimes have weak environmental credentials.

The EBRD — which is majority owned by EU members, but also has the US, Russia and other countries as shareholders — announced its Green Economy Transition 2.1 approach last week, under the headline that it aimed to be a “majority green bank by 2025”.

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