Sustainability Report 2013

Contents

New Energy Sector Strategy

We have been the largest investor in renewable energy and energy efficiency projects in our region for several years. In December 2013 this commitment was reaffirmed with the adoption of a new Energy Sector Strategy. The countries in the EBRD region – which extends from Morocco to Mongolia – face the challenge of providing sustainable, secure and affordable energy. The Energy Sector Strategy identifies energy efficiency as the first and best response to this challenge.

The Strategy reinforces our tangible and growing support for renewable energy, which under the new Strategy will include financing both energy-generating capacity and key infrastructure, such as transmission lines and backup generation. It highlights our role as an enabler of renewable energy, working with governments and regulators on improving energy sector regulation and putting in place stable and predictable regulatory frameworks.

The Strategy also sets out a revised policy for thermal generation, highlighting that we will help countries switch from coal to gas, and that we will not finance coal-fired generation except in rare and exceptional circumstances where there are no feasible alternative energy sources. The new Strategy was developed over the past year, and involved intensive consultation with civil society, academia, industry and our shareholders.

For further information visit www.ebrd.com/pages/sector/powerenergy/energy-strategy.shtml.