EBRD signs up to Sustainable Blue Economy Finance Principles
The European Bank for Reconstruction and Development has become a signatory to the Sustainable Blue Economy Finance Principles.
Launched in 2018, the principles are the world’s first global guiding framework for banks, insurers and investors to finance a sustainable blue economy. They promote the implementation of United Nations Sustainable Development Goal 14 (Life Below Water), and set out ocean-specific standards, allowing the financial industry to mainstream sustainability of ocean-based sectors.
The principles are hosted by UNEP FI, a partnership between UNEP and the global financial sector to mobilise private sector finance for sustainable development. They were developed by the European Commission, WWF, the World Resources Institute and the European Investment Bank.
The EBRD plans to expand the proportion of its environmental sustainability lending to more than 50% over the next five years.
