The European Bank for Reconstruction and Development (EBRD or the Bank) is committed to promoting “environmentally sound and sustainable development” in the full range of its investment and technical cooperation activities pursuant to the Agreement Establishing the EBRD. The Bank believes that environmental and social sustainability is a fundamental aspect of achieving outcomes consistent with its transition mandate and recognises that projects that foster environmental and social sustainability rank among the highest priorities of its activities. In this Policy, the term “project” refers to the defined set of business activities for which EBRD financing is sought by a client, or where EBRD financing has already been committed, the set of business activities defined in the financing agreements, and as approved by the Board of Directors or other decision-making body. This Policy outlines how the Bank will address the environmental and social impacts of its projects by: • defining the respective roles and responsibilities of both EBRD and its clients in designing, implementing and operating projects in line with this Policy and the Performance Requirements• setting a strategic goal to promote projects with high environmental and social benefits • mainstreaming environmental and social sustainability considerations into all its activities. (Author/publisher)
Samenvatting