The European Bank for Reconstruction and Development (EBRD) has not lowered environmental standards when evaluating projects for investment in Ukraine, despite the hostilities, EBRD President Odile Renaud-Basso said in an interview with Interfax-Ukraine.

"The Bank has committed to fully align its activities with the goals of the Paris [Climate] Agreement by the end of 2022. As such, each of the EBRD's investments is screened extensively to ensure they are consistent with this goal. Our environmental [including climate] standards have not changed," Renaud-Basso said.

The bank had to find new ways to apply those standards, conduct due diligence in difficult situations, and act quickly, she said. "But we are determined that, when supporting Ukraine, we will not compromise on quality," the banker stressed.

As one example of such tools, she cited the launch of the Chapter Zero platform under the Climate Governance Initiative (CGI) in Ukraine in September, implemented in cooperation with the World Economic Forum (WEF) and supported by the EBRD. The purpose of the Chapter Zero platform is to help board members of companies in key regions of the bank's operations to better understand the potential impacts of climate change on the future of their business.

"The launch of Chapter Zero in Ukraine is a good example of how, while assisting Ukrainians to meet their immediate needs, we are also helping them build the institutions and policies that will underpin a greener, better Ukraine in the future," Renaud-Basso said.

The new branch of Chapter Zero Ukraine & Caucasus was created on the basis of the Kyiv School of Economics (KSE). Deloitte acts as an intellectual partner in Ukraine.

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