EBRD blogs

In an open letter sent today to the President of the European Bank for Reconstruction and Development 54 civil society organisations follow up from last weeks consultations on the bank's new energy sector strategy and ask the president to ensure that the EBRD addresses the challenges of climate change with the urgency it deserves. We reproduce the letter's content here.

Demonstrations in Kiev have shown that road safety is not only for cars but also pedestrians and other traffic participants - a lesson that the Ukrainian road company still needs to learn and that the European Bank for Reconstruction and Development should be teaching more actively.

The global campaign to make the European Bank for Reconstruction and Development restrict its coal lending may have found new allies in Nordic countries after their declaration yesterday to seize overseas coal investments.

As part of the consultation on its energy sector strategy the EBRD next week hosts public meetings in Istanbul, Belgrade and Moscow to discuss with civil society from its countries of operation. While public pressure is increasing to end coal financing it is important to note that restrictions to carbon-intensive investments must be strictly and clearly defined in the strategy document if they are to improve the EBRD's climate impact. An article from Bankwatch's 2012 annual report (pdf) illustrates how a too flexible approach allows the EBRD to greenwash also very dirty investments.