LONDON — The European Bank for Reconstruction and Development (EBRD) announced that since 2006 it has invested €10 billion (over $13 billion) in energy efficiency and sustainable energy. The bank’s Sustainable Energy Initiative (SEI) was set up in 2006 and has funded 552 energy efficiency and sustainable energy programs and schemes — from actual projects such as an insulation of a Slovakian nursery to lines of credit in many countries for energy efficiency efforts. Sir Suma Chakrabarti, the EBRD president, said, “The energy intensity of economies in the region of EBRD operations remains very high, despite some progress. Sustainable energy has grown into a major activity of the EBRD accounting for a third of EBRD investments in 2011.
“From Turkey to Russia, from Mongolia to Slovakia we are working with industries, utilities, municipalities and households to enhance their energy efficiency. The EBRD has proven over the years that energy efficiency makes good business sense.”