The Energy Sector Strategy 2024-2028 Must Mark the End of the EBRD’s Support to Fossil Fuels

A coalition of NGOs calls on the EBRD to end all support for fossil fuels in its 2024-2028 Energy Sector Strategy, arguing that continued investment in gas infrastructure creates lock-in risks and contradicts the 1.5°C goal. The signatories request the exclusion of midstream and downstream gas projects, the removal of loopholes like "CCS-readiness," and the EBRD's accession to the Glasgow Statement.

• The EBRD's draft Energy Sector Strategy is criticized for continuing to allow some investment in new midstream and downstream gas projects, despite having already excluded coal and upstream oil and gas financing.
• New gas infrastructure, including pipelines, LNG terminals, and power generation, is viewed as a risk because it locks in outdated energy systems for decades and is inconsistent with 1.5°C pathways.
• The signatories demand three specific amendments to the Energy Sector Strategy: the full exclusion of new midstream and downstream gas investments, the removal of loopholes regarding unproven technologies such as "CCS-readiness," and stricter requirements for financial intermediaries to prevent fossil fuel financing across the value chain.
• The document advocates for the EBRD to join the Clean Energy Transition Partnership (the Glasgow Statement), which commits signatories to end new direct public support for the international unabated fossil fuel energy sector.

APA

International Institute for Sustainable Development (2023). The Energy Sector Strategy 2024-2028 Must Mark the End of the EBRD’s Support to Fossil Fuels. https://www.iisd.org/system/files/2023-09/ngo-statement-on-energy-sector-strategy-2024-2028.pdf

Chicago

International Institute for Sustainable Development. The Energy Sector Strategy 2024-2028 Must Mark the End of the EBRD’s Support to Fossil Fuels. 2023. https://www.iisd.org/system/files/2023-09/ngo-statement-on-energy-sector-strategy-2024-2028.pdf.

Wikipedia

{{cite press release |author=International Institute for Sustainable Development |title=The Energy Sector Strategy 2024-2028 Must Mark the End of the EBRD’s Support to Fossil Fuels |date=27 September 2023 |url=https://www.iisd.org/system/files/2023-09/ngo-statement-on-energy-sector-strategy-2024-2028.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{internationalinstituteforsustainabledevelopment2023energy, author = {{International Institute for Sustainable Development}}, title = {{The Energy Sector Strategy 2024-2028 Must Mark the End of the EBRD’s Support to Fossil Fuels}}, publisher = {International Institute for Sustainable Development}, year = {2023}, month = sep, url = {https://www.iisd.org/system/files/2023-09/ngo-statement-on-energy-sector-strategy-2024-2028.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }