The European Bank for Reconstruction and Development (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 international financial institution said in a press release.
The EBRD Energy Sector Strategy 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 press release reads. The draft Energy Sector Strategy promotes secure, affordable and sustainable energy through the transition to a market-oriented low-carbon energy sector. It identifies four interrelated strategic directions: (1) decarbonization and electrification; (2) well-functioning energy markets; (3) cleaner oil and gas value chains; and (4) energy efficient and inclusive economies, the EBRD said.
Stakeholders such as civil society organizations 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.