The EBRD is launching public consultations on the draft of its upcoming Energy Sector Strategy (ESS), which will guide the Bank’s operations in the sector for the next five years. The current EBRD Energy Sector Strategy came into force in December 2013.
The EBRD ESS covers the Bank’s activities in two areas: electricity generation, transmission, distribution, storage and supply; and hydrocarbon extraction, processing, transportation, distribution, storage and supply.
The draft ESS promotes secure, affordable and sustainable energy through the transition to a market-oriented low-carbon energy sector. It identifies four interrelated strategic directions: (1) decarbonisation and electrification; (2) well-functioning energy markets; (3) cleaner oil and gas value chains; and (4) energy efficient and inclusive economies.
Stakeholders such as civil society organisations and representatives of industry and the business community will be invited to meet EBRD representatives in six countries of operations and in London, where the Bank is headquartered. The draft strategy can be found on www.ebrd.com.
The schedule of consultations will be as follows:
Following these consultations, the EBRD will produce a final draft of the strategy, which will be discussed by the Board of Directors by the end of 2018 and will come into force after the Board’s approval.
SUBMITTED BY By Svitlana Pyrkalo