Sustainability Awards

Sustainability is a big part of what we do – and we help our clients make it a big part of what they do too.  The annual EBRD Sustainability Awards celebrate the achievements of our clients in promoting environmental and social responsibility. For over 15 years we have been proud to recognise those who demonstrate excellence and commitment in managing environmental and social issues, promoting energy efficiency, combating climate change and advancing inclusion.  The Sustainability Awards recognise achievements in six specific categories: sustainable energy, climate resilience, environmental and social best practice, environmental and social innovation, gender and economic inclusion and financial intermediaries.

Nominations are received from teams across the Bank and are judged by an independent panel against a number of criteria, including:

• Standards and best practice: Has the client implemented higher standards, or introduced best practice, which go beyond national E&S requirements or the Bank's Performance Requirements?
• Results and outcomes: Has the client developed a project which consistently produces more sustainable outcomes than is typical for the sector / region / country?
• Innovation: Has the client introduced new or unique practices, products, or services with significant E&S benefits within the sector / region / country?
• Demonstration effect: Has the client introduced technologies, practices or management techniques with significant demonstration effect and with the potential for replication?
• Capacity building: Has the client made changes, or improvements, to the management culture or working practices which promote better understanding and management of key environmental and social issues? 

After receiving 63 nominations, a total of 21 clients from our countries of operations were selected for Gold, Silver and bronze awards in 6 categories:

1. Sustainable Energy
2. Climate Resilience 
3. Environmental and Social Best Practice
4. Environmental and Social Innovation
5. Gender and Economic Inclusion
6. Financial Intermediaries

Sustainable Energy – joint winners

Red Sea Wind Energy SAE: Gulf of Suez Wind II

The Gulf of Suez Wind II project involves the development of a 500MW wind farm critical in supporting Egypt in its on-going transition to green energy. With an already contemplated extension of up to 150MW this will be the largest wind farm in Africa. The Gulf of Suez is highly sensitive from a biodiversity perspective and a substantial amount of work was done to ensure that projects would be designed and operated such that collision risk is avoided. Combined with the application of the latest technology and capacity building across a range of disciplines, this project includes best-in-class construction and operational practices, providing a demonstration effect for other wind power projects in the region.

Baltic Power Sp. z.o.o.: Baltic Power Offshore Wind

Baltic Power is the first offshore wind project ever financed by EBRD and the first in Poland. The project includes the construction of 1.14GW offshore wind farm, combined with onshore grid connection infrastructure and a service port in the town of Leba, Poland. In 2022, coal accounted for more than 70% of the electricity generation in Poland and this project is critical to Poland’s decarbonisation ambitions and the country’s energy security. This project alone will make up 2-3% of Polish annual electricity consumption, enough to provide green electricity to approximately 1,5 million households, avoiding approximately 2.8 million tons of CO2 emissions annually.

Climate Resilience

Agro-industrial holding Astarta-Kyiv: RLF – Astarta

Astarta is a long-standing client of the Bank and this Project features the first EBRD loan with climate-KPI-linked pricing to promote the adoption of nature-based climate solutions. Supported by the Clean Technology Fund, the project will allow the Company to introduce, or scale up, soil conservation and agro-ecological agriculture practices, including reduced tillage practices, planting of specific cover crops, application of bio-stimulants and application of nitrification inhibitors. This will lead to improved soil health, resilience to climate change, soil carbon sequestration, pollution prevention and regeneration of ecosystems. The Group’s commitments on corporate climate governance will have a significant demonstration effect on the agribusiness sector in Ukraine and on other vertically integrated agribusiness companies in the region.

E&S Best Practice

Tümad Madencilik Sanayi ve: Tumad Loan

Tumad is a Turkish mining company, setting industry benchmarks across a wide spectrum of environmental and social issues. These include monitoring of water and carbon footprints, comprehensive pollution prevention and control strategies, resource optimization, and incorporating renewable energy into their mining operations. Through its gender and inclusion programs, Tumad has bolstered local employment opportunities, enhancing sustainable social and economic development particularly in communities close to İvrindi and Lapseki Gold and Silver Mines. These projects, are widely regarded as industry benchmarks, placing both women and young individuals at the forefront of social advancement.

E&S Innovation – joint winners

Metso Corporation: EBRD - Citi - Metso Sustainable Supply Chain Finance Programme

Metso is a leading provider of technology and services for the aggregates, minerals processing, metals refining and recycling industries. Together with the EBRD and Citibank, Metso has created a market-leading supplier financing programme encouraging key suppliers to adopt Science-based Targets through the Science-based Targets Initiative. By providing a baseline assessment of the supplier’s energy profile, including calculation of Scope 1, 2 and 3 GHG emissions, Energy Efficiency Investment Plans are agreed focusing on optimization opportunities and investment needs. Metso has introduced a new practice and a comprehensive financing solution to the market, with significant environmental benefits in terms of the reduction of Scope 3 emissions of Metso. This is a highly innovative structure with huge value-added when compared to a conventional supply chain finance program.

Erste Bank a.d. Novi Sad: Western Balkans GEFF 1 and II - Erste Bank Serbia

Erste Bank Serbia is one of the most innovative contributing partners under the Western Balkans Green Economy Financing Facilities as demonstrated by the first-ever financing provided to a Housing Association in the western Balkans market. The financing was used to improve the energy performance of the multi-family residential building, increasing thermal comfort, reducing carbon dioxide emissions by over 50% and halving annual heating costs. Not only does this project achieve decarbonisation but also massively improves the quality of life of citizens. Despite a small amount, this first-ever financing deal is a key to unlocking a long-standing bottleneck to accelerate the green transition in the residential sector.

Gender and Economic Inclusion

Transcapital Non-bank Financial Institution LLC: FIF - CA WiB Programme - Transcapital 1 and II 

Transcapital Non-bank Financial Institution LLC (Transcapital) is the 3rd largest non-bank FI in the country focusing on MSME and retail customers (average loan is c. USD 2,850). Transcapital has exhibited unparalleled commitment and achievement in fostering gender diversity and inclusivity within its programs and operations. TCMN has developed and expanded a gender-inclusive business model that combines staff training with financial products and non-financial services for clients. Transcapital has not only embraced the Women in Business program with enthusiasm but has redefined excellence in gender and inclusive sustainability. Their outstanding results, commitment to continuous improvement, and impact on the broader community make them a deserving candidate for the Sustainability Award in the Gender and Inclusive Category.

Financial Intermediaries

CJSC Microcredit Deposit Organisation “HUMO”: GCF GEFF Regional - Tajikistan II - Humo Loan III

Founded in 2004, HUMO is the second-largest Microfinance Institution (MFI) in Tajikistan. Since obtaining its deposit-taking license in 2014, HUMO has been an innovative digital champion, a pioneer in promoting financial inclusion, as well as fostering green transition. HUMO is a progressive and innovative digital financial institution in Tajikistan that has been an exemplary model partner financial institution promoting environmental and social responsibility, through higher standards (e.g. transition planning & latest environmental and social standards), innovation (e.g. HUMO labs), demonstration effect (e.g. platform used by other FIs and planned expansion into neighbouring country) and capacity building (e.g. HUMO academy).

Sustainable Energy - The City of Agadir - GrCF2 W2 E2 - Project Kasbah

Climate Resilience - The City of Chisinau - GrCF2 W1-Chisinau River Bic Rehabilitation and Flood Protection Project

Environmental & Social Best Practice - SASA Polyester Sanayi A.Ş - SASA GET

Environmental & Social Innovation - Heimstaden Bostad AB - Project Hygge

Gender & Economic Inclusion - Government of Serbia - Infrastructure for the future (f. Project Science)

Financial Intermediaries - JSC TBC Bank - TBC – Subordinated Unsecured Tier 2 Capital Loan Project

Sustainable Energy - Fulgor Single Member SA Hellenic Cable Industry - Fulgor RRF

Climate Resilience - Municipality of Ulaanbaatar - GrCF2 W1 - Ulaanbaatar Green Affordable Housing

Environmental & Social Best Practice – Joint Winners

Khmelnytskyi Communal Enterprise “Electrotrans” - UPTF2 Khmelnytskyi Trolleybus

Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret A.Ş - Brisa Tyres GET

Environmental & Social Innovation - Borusan Lojistik Dağıtım Depolama Taşımacılık ve Ticaret A.Ş. - Borusan Logistics

Gender & Economic Inclusion - Eldorado Gold Corporation - Eldorado Gold (f. Project Primrose)

Financial Intermediaries - Taaleri SolarWind III Fund - Taaleri Solar Wind III