Sir Suma Chakrabarti urges governments and investors to seize the business opportunities for green growth
EBRD President Sir Suma Chakrabarti has outlined the EBRD’s vision for a green economy in a speech that comes just two weeks before decisive COP21 climate talks in Paris.
He said that the EBRD model, based on a combination of investment, technical cooperation and policy dialogue, will put even greater emphasis on reform and private sector participation as part of its recently adopted Green Economy Transition (GET) approach.
Speaking at Sida, Sweden's International Development Cooperation Agency, during a visit to Stockholm, Sir Suma called on governments and markets to recognise the new economic reality of climate finance.
Business opportunities were being offered today by new technologies and business models which had not existed even very recently, he said.
The EBRD’s GET approach sets new targets for green EBRD financing which will aim to reach 40 per cent of total annual financing by 2020.
Already today the EBRD invests more in renewable energy than conventional power generation and is carbon-negative. Its total investments across all sectors, including industry, contribute to overall carbon reduction).
Stepping up Green Financing - Speech Transcript
