The European Bank for Reconstruction and Development (EBRD) is set to play a pivotal role at the 2024 United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. As a leader in financing climate action and mobilizing private sector finance, the Bank's participation underscores its commitment to driving sustainable growth across its economies.

Powering the Green Transition: EBRD's Climate Finance Expertise

Pioneering Green Investments

In 2023 alone, the EBRD provided over €6.5 billion in green financing, accounting for 50 percent of its total investment volumes. This impressive figure highlights the Bank's unwavering dedication to supporting the transition to a low-carbon economy. As the number one private climate finance mobilizer among multilateral development banks (MDBs), the EBRD has demonstrated its ability to leverage its resources to catalyze private sector investment in the green economy. For every €1 invested in the green economy, the Bank mobilized over €3 from the private sector, showcasing its expertise in unlocking the necessary capital to drive sustainable development.

Scaling Up Climate Ambitions

With COP29's focus on accelerating climate finance, the EBRD will collaborate with fellow MDBs to help scale up national and private sector ambitions on climate targets. By leveraging its extensive experience and deep understanding of the regions it serves, the Bank will play a crucial role in paving the way for greater private capital mobilization. This collaborative approach will be essential in ensuring that the global community can collectively meet the pressing challenges posed by climate change.

Driving Sustainable Infrastructure

The EBRD's impact in Azerbaijan, where it has been active for over 30 years, is a testament to its ability to drive sustainable development. The Bank has invested €3.7 billion through 190 projects, including the country's first utility-scale solar and wind power plants, as well as sustainable infrastructure initiatives in Ganja, Azerbaijan's second-largest city. These investments not only contribute to the country's renewable energy transition but also demonstrate the EBRD's commitment to building resilient and environmentally-friendly infrastructure that can support long-term economic growth.

Mobilizing Expertise and Partnerships

The EBRD delegation to COP29 will be led by President Odile Renaud-Basso, accompanied by First Vice President Jürgen Rigterink, Vice President of Policy and Partnerships Mark Bowman, and Managing Director of Climate Strategy and Delivery Harry Boyd-Carpenter. This impressive lineup of experts underscores the Bank's depth of knowledge and its ability to leverage its extensive network of partnerships to drive meaningful change.

Showcasing Innovative Solutions

At COP29, the EBRD is poised to launch significant green initiatives, sign major loan agreements, and actively contribute to climate finance discussions. By sharing its expertise and showcasing its innovative solutions, the Bank aims to inspire and empower other stakeholders to join the global effort in addressing the climate crisis. This collaborative approach will be crucial in accelerating the transition to a sustainable future.