The EDB joins the Green Investment Principles (GIP) for the Belt and Road Initiative as an observer
Almaty, 25 July 2023. The Eurasian Development Bank (EDB) has joined the international Green Investment Principles (GIP) for the Belt and Road as an observer.
The GIP brings together 45 global institutions from 18 countries, with collective assets exceeding US $41 trillion. The signatories encompass major banks from China, as well as commercial banks and insurance companies from the UK, France, Germany, Switzerland, UAE, Thailand, Morocco, Mongolia, and other nations.
The principles were developed in 2019 by the China Green Finance Committee and the City of London in collaboration with reputable international organisations for financial institutions to promote green investment and sustainable development within the context of the Belt and Road Initiative. The initiative supports projects that help combat climate change, safeguard the environment, and stimulate economic development in the New Silk Road region. Building on existing responsible and ESG investment standards, the GIP aims to embed low-carbon and sustainable development practices in investment projects of the Belt and Road countries, which will account for the majority of global infrastructure investment in the coming decades.
The GIP includes seven principles at three levels: strategy, operations, and innovation. They urge the signatories to integrate sustainability into corporate governance, outline steps to minimise environmental and social risks, and advocate the use of state-of-the-art green finance instruments.
“The EDB’s new observer status with this organisation further solidifies its active role in contributing to the region’s SDGs. This new opportunity paves the way for close co-operation with other participants in the initiative. I am confident that our joint efforts will yield significant results in combating climate change and protecting the environment,” said Albrecht Conrad, EDB Managing Director for Sustainability.
Over the past four years, the GIP has worked towards promoting knowledge sharing and capacity building. The initiative has made significant progress thanks to the efforts of its secretariats in Beijing and London, three working groups, and two regional offices in Central Asia and Africa.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
The Eurasian Development Bank:
Aigerim Akhanova
+7 (727) 244 40 44, ext. 6147
+77013283898