The European Bank for Reconstruction and Development (EBRD) has confirmed it will take part in the 2024 United Nations Climate Change Conference COP29 in Baku, Azerbaijan, with president Odile Renaud-Basso leading the delegation.
The bank said the move affirms its role as a leader in financing climate action and mobilising private sector finance across its economies, adding that in 2023 alone, it provided over €6.5bn in green financing, 50% of its total investment volumes.
With COP29’s focus on accelerating climate finance, the EBRD will collaborate with fellow multilateral development banks (MDBs) to scale up national and private sector ambitions on climate targets, while helping to pave the way for greater private capital mobilisation.
The EBRD delegation to the conference will include president Odile Renaud-Basso (pictured), first vice president Jürgen Rigterink, vice president, policy and partnerships Mark Bowman and managing director climate strategy and delivery Harry Boyd-Carpenter.
Boyd Carpenter said: “Climate finance is central to this year’s COP.
“As a climate finance leader in our regions and the strongest mobiliser of private finance, we expect to launch significant green initiatives, sign major loan agreements and actively contribute to climate finance discussions.”
The EBRD said it is the largest institutional investor in the Caucasus and has worked in Azerbaijan for over 30 years. The bank’s broader impact there includes €3.7bn in investments through 190 projects.
These include the country’s first utility-scale solar and wind power plants, as well as sustainable infrastructure initiatives in Ganja, Azerbaijan’s second-largest city.