Banks pledge to ramp up green investments

More than 70 financial institutions from across the globe have pledged to scale-up energy efficiency investments in an attempt to tackle climate change and take advantage of a "huge business opportunity".

Participating institutions have endorsed a declaration promising to further engage in financing energy efficiency

Participating institutions have endorsed a declaration promising to further engage in financing energy efficiency

The commitment was made at an industry conference Turkey, organised by the European Bank for Reconstruction and Development (EBRD) and the United Nations Environment Programme Finance Initiative (UNEP FI).

Participating institutions – from regional lenders to global banks – have endorsed a declaration promising to further engage in financing energy efficiency. They also pledged to further integrate energy efficiency finance into their operations, guide clients towards enhanced energy saving and to track investment in the sector.

The institutions (scroll down for the full list) also said they were willing to intensify their cooperation with development institutions, like the EBRD and UNEP FI, in financing measures which tackle climate change.

EBRD managing director for energy efficiency and climate change Josué Tanaka said: “Investing in energy efficiency makes economic sense and the current financing gap represents a huge business opportunity.

“The financial sector is uniquely placed to channel finance to energy-saving opportunities and address the current investment gap. Our aim is to make sure the financial community can tap into this potential by forging links with the most up-to-date expertise and technology.”

Important tool

Energy efficiency has been recognised as one of the most economically effective means of combatting climate change. The International Energy Agency claims that more than 40% of the emissions reductions required to limit global warring to 2C will have to come from energy efficiency improvements,

However, the financing needed to achieve these measures is currently not available. According to the Global Tracking Framework, energy efficiency investment needs to increase four-fold from current levels, simply to meet already-pledged efficiency targets.

UNEP FI acting head Eric Usher said: “Mobilising the private finance sector to tackle the investment gap means working with financial institutions not only to address their internal barriers but also involving policy-makers in an open dialogue on how external barriers can be overcome.”

The collective pledge will be welcome news for the UK green economy, after investor confidence has dipped to new lows following successive Government subsidy cuts.

 

PFI name

Country

ABN Amro

Regional

ACBA (Acba-Credit Agricole Bank)

Armenia

AccessBank Azerbaijan

Azerbaijan

AFK

Kosovo

AkBank

Turkey

Ameriabank

Armenia

ArmSwissBank

Armenia

Aval

Ukraine

Bai-Tushum

Kyrgyz Republic

Banamex

 

Banca Transilvania

Romania

Bank of Georgia

Georgia

Bank Republic (Societe Generale Group)

Georgia

Basis Bank

Georgia

Belgazprombank (BGPB)

Belarus

BelVEB

Belarus

BPS Sberbank

Belarus

BRD Romania

Romania

CEC Bank S.A

Romania

Credit Agricole

 

Credo Georgia

Georgia

Demirbank Azerbaijan

Azerbaijan

Demirbank Kyrgyz Republic (DKIB)

Kyrgyz Republic

Denizbank

Turkey

ERSTE Croatia

Croatia

Eskhata

Tajikistan

Garanti

Turkey

Garanti (Leasing)

Turkey

Halkbank Skopje

FYR Macedonia

HSBC

Armenia

Humo

 

Imon

 

ING Group

 

Isbank

Turkey

KICB

Kyrgyz Republic

La Banque Postale

 

MAIB

Moldova

Mega bank

Ukraine

Microinvest

Moldova

Millennium Bank

Poland

Minsk Transit Bank

Belarus

Moldindconbank (MICB)

Moldova

NLB Tutunska Banka (TB)

FYR Macedonia

Ohridska Banka

FYR Macedonia

OTP Bank Romania

Romania

Pireaus Bank

Greece

Procredit Group

Regional

Raiffeisen Bank BiH

Bosnia And Herzegovina

Raiffeisen Bank Romania

Romania

Regional Center for Renewable Energy and Energy Efficiency (RCREEE)

Egypt

SEF International

Armenia

Sekerbank

Turkey

Slovenska Sporitelna (Erste)

Slovak Republic

Societe Generale Serbia

Serbia

State Export Import Bank of Ukraine (UkrExim) 

Ukraine

Sumitomo Mitsui Trust Holdings

 

Tatra Banka (RZB)

Slovak Republic

Tridos

 

TSKB

Turkey

Turan Bank

Azerbaijan

Ukrsibbank

Ukraine

Unibank Azerbaijan

Azerbaijan

Unicredit

Regional

Unicredit Bank BiH

Bosnia And Herzegovina

Unicredit Bulbank

Bulgaria

Unicredit Romania

Romania

United Bulgarian Bank

Bulgaria

Vakifbank

Turkey

VTB Georgia

Georgia

XacBank

Mongolia

Yapi Kredi Bank

Turkey

Zagrebacka banka (Unicreditgroup)

Croatia

Brad Allen


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