How the European Bank for Reconstruction and Development Can Shift Millions From Fossil Fuels to Clean Energy Through the Glasgow Commitment

The document argues that the EBRD should sign the Glasgow Statement by COP 27 and implement a robust fossil fuel exclusion policy during its upcoming energy strategy review. It estimates that the EBRD could shift EUR 741 million annually from fossil fuel finance toward a clean and just energy transition. The brief emphasizes that transitioning to clean energy and energy efficiency is the only sustainable solution to the energy crisis and insecurity caused by Russia's invasion of Ukraine.

• The EBRD has the potential to redirect EUR 741 million of international public finance from fossil fuels toward a clean and just energy transition on an annual basis.
• The EBRD is positioned to implement the Glasgow Statement through a scheduled review of its energy strategy occurring after COP 27, complementing its existing pledge to align all activities with the Paris Agreement by the end of 2022.
• The global energy crisis and gas supply crunch in Europe, triggered by Russia's invasion of Ukraine, underscore the volatility of fossil fuel-dependent systems and the need for a faster transition to affordable clean energy.
• The brief recommends that the EBRD sign the Glasgow Statement by COP 27 and subsequently adopt strict exclusion rules to prevent fossil fuel lock-in, specifically including gas power.

APA

Madereel,, N. J. (2022). How the European Bank for Reconstruction and Development Can Shift Millions From Fossil Fuels to Clean Energy Through the Glasgow Commitment. International Institute for Sustainable Development. https://www.iisd.org/publications/brief/ebrd-shift-millions-fossil-fuels-clean-energy

Chicago

Madereel,, Natalie Jones,Enrique. How the European Bank for Reconstruction and Development Can Shift Millions From Fossil Fuels to Clean Energy Through the Glasgow Commitment. International Institute for Sustainable Development, 2022. https://www.iisd.org/publications/brief/ebrd-shift-millions-fossil-fuels-clean-energy.

Wikipedia

{{cite report |last1=Madereel, |first1=Natalie Jones,Enrique |title=How the European Bank for Reconstruction and Development Can Shift Millions From Fossil Fuels to Clean Energy Through the Glasgow Commitment |publisher=International Institute for Sustainable Development |date=27 October 2022 |url=https://www.iisd.org/publications/brief/ebrd-shift-millions-fossil-fuels-clean-energy |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{madereel2022how, author = {Madereel,, Natalie Jones,Enrique}, title = {{How the European Bank for Reconstruction and Development Can Shift Millions From Fossil Fuels to Clean Energy Through the Glasgow Commitment}}, institution = {International Institute for Sustainable Development}, year = {2022}, month = oct, url = {https://www.iisd.org/publications/brief/ebrd-shift-millions-fossil-fuels-clean-energy}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }