EBRD

EBRD assigns decision-making and oversight of the sustainability strategy to its highest governance body, and also delegates the implementation of its strategy to various teams, functions and committees. It has established a stewardship policy that supports environmental transitions and social best practices aligned with its sustainability strategy, encompassing client and stakeholder engagement, advocacy, and partnerships. This policy outlines criteria for successful stewardship outcomes, escalation routes for unsuccessful efforts, and defines when escalations should occur. Scope 1-2 emissions are monitored and key sectors, clients, and investees for climate engagement are transparently identified. A strategy exists to support climate adaptation and resilience, with at least one example of how offerings contribute to this goal. EBRD also identifies the nature-related impacts of products, services, and capital provided. It discloses the monetary value of products, services, and capital provided to women-owned businesses and small- and medium-sized enterprises.

While the financial institution identifies material sustainability impacts across its value chain, further detail on the process and criteria for prioritisation is needed to enhance transparency. Recommendations include disclosing third-party assurance of target reporting and linking senior executive remuneration to sustainability targets. The financial institution is engaged with various MDB bodies, but it is unclear if a full list is disclosed.

The financial institution reports emissions and exposure for 78 high-emitting sectors, the institution has an opportunity to clearly identify all relevant sectors. Additionally, though the financial institution states it does not provide capital to certain fossil fuel projects, it is recommended that they specify all fossil fuel activities. It aims for over 50% of investments to be green by 2025, but could specify the share allocated to climate solutions. No evidence is provided regarding the monetary share of products and services linked to priority sectors with significant negative impacts on nature. Moreover, the financial institution has a strategy for nature-based solutions and discloses investments in the blue economy, but lacks aggregate figures.

Recommendations include increasing coverage of financed emissions and monitoring all other scope 3 emissions. While the financial institution has a publicly available statement expecting suppliers to commit to ILO fundamental rights at work, it is not formalised in a policy approved by the highest governance body.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.