EBRD unveils new energy sector strategy; public to submit contributions no later than 1 February 2018

EBRD unveils new energy sector strategy; public to submit contributions no later than 1 February 2018

First phase on public consultation until 1 February 2018

LONDON, 29-Nov-2017 — /EuropaWire/ — The EBRD is starting work on a new energy sector strategy and inviting the public to submit contributions. Comments based on the current document should be submitted in writing no later than 1 February 2018 to energysectorstrategy@ebrd.com.

Strategies set out the principles of the EBRD’s operations and guide the Bank’s investments. The current energy sector strategy was approved by the EBRD’s Board of Directors in December 2013. For the new strategy the Bank is seeking input from the widest possible range of stakeholders to ensure that its review is informed by an awareness of the full range of concerns and opportunities in the energy sector for the coming years.

The review of the strategy will follow a two-stage public consultations process. The invitation to comment on the existing policy is part of public consultation during the pre-drafting stage. The second stage will include public consultation on the draft document, as set out by the EBRD’s Public Information Policy. The Bank expects that the draft strategy will be available in the second half of 2018 and, following further public consultation, adopted by the end of 2018.

The current strategy’s operational approach is built on seven pillars:

• energy efficiency and demand-side measures (across the energy value chain)
• building deep and liquid energy markets (through, for example, private-sector participation, cost-reflective pricing and regional integration)
• rethinking energy systems (through, for instance, smart grids, distributed generation, new technology)
• low-carbon transition (for example, via the promotion of renewable energy and energy efficiency)
• cleaner energy production and supply (through, for instance, resource efficiency, cleaner fuels, more efficient conventional generation)
• setting standards and best practice (for example, by adopting the best environmental, health and safety and social practices, transparency and corporate governance)
• the wider role of the energy sector (covering areas such as access to reliable energy and economic inclusion).

Since 2014, the EBRD has invested over €6.5 billion in some 110 energy projects. Under its Green Economy Transition approach, adopted in October 2015, the Bank is well on track to achieving its goal of over 40 per cent of EBRD annual business investment being in green projects by 2020.

SOURCE: EBRD

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