The EDB’s inaugural 2023 Sustainability Report highlights that the Bank has invested over US $600 million in climate mitigation in Central Asia
Almaty, 24 December 2024. The Eurasian Development Bank (EDB) has published its debut Sustainability Report, which uncovers its ESG performance, including data on corporate governance, management of sustainability issues, sustainable financing approaches and results, human resources management, and ethics and compliance activities for the reporting period from 1 January 2023 to 31 December 2023.
Some highlights from the report include:
- Over 30,000 jobs were created as a result of the Bank’s investments in 2023.
- The Bank’s share in the member states’ contributions to the UN SDGs totalled 22.8%.
- A total of 206,000 tonnes of CO2 emissions were avoided or reduced in Bank-funded projects in 2023.
Another important benchmark is internal for the Bank: 52% of hires in 2023 were female, with the overall employee engagement index reaching 79% (+11% compared to 2022).
Prepared in accordance with international GRI Standards, the Sustainability Report discloses the Bank’s continued efforts to promote sustainable development both in its member states and inside the organisation. Apart from the information about its policies and practices, the Bank discloses several metrics for the first time in a row. For example, the Sustainability Report contains data on the Bank’s GHG emissions, including those from investment activities, calculated in accordance with the PCAF standards. The Bank also discloses data on its climate mitigation and green projects portfolio, elaborates on its new comprehensive process for assessing environmental and social risks and highlights contributions towards the achievement of the UN SDGs in member states.
The 2023 Sustainability Report recognises key principles and approaches to building a strong corporate governance system, as well as key achievements and practices in human resources management, including the personnel’s motivation and engagement metrics, where the Bank is performing very well. In the document, the Bank describes its network of international partners in building a sustainable future for Central Asia.
“We are proud to say that our cumulative portfolio of green projects has now surpassed US $1.2 billion, which reaffirms our commitment to adhering to the Bank’s Sustainability Principles across all departments and within every investment project. The publication of the Sustainability Report is a significant milestone in our journey towards enhanced transparency and integration of global best practices adapted to the regional context. We believe that the report will become a useful tool for all stakeholders to learn more about the Bank’s principles, standards, operations and values, as well as its growing ambitions for the future. The document is also beneficial for the Bank’s internal goals as it allows us to reflect on our yearly accomplishments, consider all business processes across the organisation through a sustainability lens, review best approaches to non-financial reporting and plan for further and continued improvement of our maturity curve,” said Conrad Albrecht, Managing Director of the Directorate of Sustainability at the EDB.
The 2023 Sustainability Report was first reviewed by the EDB Sustainability Committee and subsequently approved by the Management Board. The Bank plans to make this disclosure an annual practice and to prepare the next-year report with consideration of the ISSB S1 and S2 reporting requirements.
The 2023 Sustainability Report of the Eurasian Development Bank is available here.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 18 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 adheres to the UN Sustainable Development Goals and ESG principles in its operations. Kazakhstan accounts for almost 60% of the Bank’s investment portfolio.
The EDB Media Centre:
+7 (727) 244 40 44, ext. 6148 and 3730