Eurasian Development Bank Directs $2 Billion Toward Sustainable Development, Expands Green Investment Portfolio

The Eurasian Development Bank (EDB) has significantly advanced its commitment to sustainable development, directing a cumulative $2 billion toward related projects and boosting its green investment portfolio to $1.08 billion in 2025. These figures were detailed in the bank's Sustainability Report, presented at its Annual Meeting and Business Forum in Almaty on June 26.

The report underscores the EDB's expanding role in financing green energy, climate resilience, and sustainable infrastructure across its member states. It also outlines new strategies for assessing climate-related risks within its investment activities. EDB Deputy Chairman and Chief Economist Evgeny Vinokurov emphasized the importance of sustainability reporting for transparency and institutional growth, noting that it helps the bank improve its practices and meet investor expectations.

Vinokurov highlighted the bank's A- rating from international ESG rating agency CCXGF as confirmation of its progress. For the first time, EDB experts conducted a comprehensive climate risk assessment of its investment portfolio, evaluating potential impacts under four climate scenarios. The assessment identified water scarcity as the primary climate risk, with potential losses estimated at $36 million, followed by extreme temperatures ($26 million) and droughts ($14 million). Despite these risks, total potential climate-related losses are projected to not exceed 1.23% of the current investment portfolio.

To bolster regional climate resilience, the EDB has strengthened collaborations with international bodies. In Kazakhstan, a partnership with the United Nations Development Program and the Ministry of Water Resources and Irrigation aims to develop a business ecosystem for sustainable irrigation and enhance climate change adaptation. The bank also worked with the CAREC Institute on a study assessing Central Asian countries' readiness for carbon pricing mechanisms. The EDB's green investment portfolio continues its upward trajectory, with cumulative green investments reaching $2 billion, primarily supporting renewable energy and energy-efficiency initiatives.

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ESG reporting helps us become better. Investors, rating agencies and partners assess us and expect high-quality disclosure. Each year, while preparing the report, we re-evaluate our activities, introduce new methodologies and standards, assess results from different perspectives and ask ourselves difficult but important questions.