MOBILISING 100
FINANCIAL
INSTITUTIONS FOR
ENERGY EFFICIENCY
1 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
Energy efficiency is key for climate change
action as well as for sustainable development.
It is expected to bring half of all emissions
reductions needed to reach a peak in
greenhouse gas emissions by 2020 and stay
within a 2°C global average temperature
increase scenario. It brings multiple benefits
such as improved resource efficiency and
industrial productivity, strengthened energy
security as well as better health and wellbeing
conditions. However, a lack of visibility and
clear focus on energy efficiency, together
with underinvestment, have left most of this
potential untapped.
Bridging the energy efficiency finance gap
will require policy-makers to address barriers
and stimulate energy efficiency investments
through supportive policy frameworks
and financial institutions to channel more
capital flows for energy efficiency. Financial
institutions play a key role in structuring
financing products for energy efficiency and
providing marketing and distribution capacity
to reach customers including SMEs, the retail
sector, large corporates and households.
The European Bank for Reconstruction and
Development (EBRD) has been actively
supporting local financial institutions to
develop their energy efficiency financing
activity through its Sustainable Energy
Financing Facilities (SEFFs). SEFFs provide long
term funding and technical assistance to their
clients in an integrated way. Today, the EBRD
works with over 100 financial institutions,
reaching over 1,000 enterprises and 15,000
households annually in this area. Since 2006,
Josué Tanaka
Managing Director
Energy Efficiency and Climate
Change, EBRD
over €3 billion have been committed to SEFFs,
resulting in over 95,000 loans.
For the last 20 years, the United Nations
Environment Programme Finance Initiative
(UNEP FI), the global partnership between
the United Nations Environment Programme
and the financial sector, has supported its
members, banks, investors and insurers in
developing sustainable finance. Banks in
particular have consistently worked with UNEP
FI through capacity building and exchange, and
now moving from awareness raising and risk
reduction towards the development of positive
impact finance, where energy efficiency will be
part of pilot projects.
Endorsement of the “Statement by Financial
Institutions on Energy Efficiency Finance”
followed the EBRD’s initiative and cooperation
with the UN SE4All Energy Efficiency
Accelerator. This effort was coordinated with
UNEP FI, which included additional banks as
part of the work developed for the G20 Energy
Efficiency Finance Task Group.
Since its launch at the Energy Efficiency
Finance Forum in Istanbul in September
2015, financial institutions from 42 countries
have endorsed the statement. Many have
provided additional individual statements
to pledge their support for energy efficiency
finance. In the run-up to COP21 in Paris,
this initiative demonstrates that financial
institutions are integrating energy efficiency
into their business operations and that
continued support for their activities is critical
in addressing climate change.
Annie Degen
Energy Efficiency Coordinator
UNEP FI
PARIS COP21 2
STATEMENT BY UNITED NATIONS
SUSTAINABLE ENERGY FOR ALL INITIATIVE
Energy efficiency – getting more from
our limited resources through improved
technologies and practices – contributes to
more profitable business operations, cheaper
and more plentiful energy for households,
growing economies for countries, a cleaner
environment and reduced carbon emissions.
This is true across the globe, whether in Africa,
where the savings from energy efficiency could
help make modern energy services available
to those who lack it, or in more industrialized
countries, where investments in lower energy
intensity can create new jobs, foster economic
growth and reduce energy costs for families and
businesses.
The Sustainable Energy for All (SE4All) initiative
is a partnership between governments, the
private sector and civil society launched by the
UN Secretary-General in 2011 with the
following three interlinked objectives to be
achieved by 2030:
•ensure universal access to modern energy
services
•double the global rate of improvement in
energy efficiency
According to SE4All Sustainable Energy Finance
report, US$ 560 billion of investments are
required by 2020 in order to achieve the SE4All
goal of doubling the global rate of improvement
of energy efficiency. The current level of
investments is estimated at US$ 130 billion
(2015) implying significant additional
investment requirements for that goal.
The SE4All Energy Efficiency Finance
Accelerator (EEFA) is reaching out to financial
institutions committed to support the scaling
up of energy efficiency in their jurisdictions with
a focus on creating a major impact particularly
during the 2016-20 period. The target for 2015
is to obtain commitment from some 100
financial institutions to join the finance to
energy efficiency scaling up effort by COP21.
The European Bank for Reconstruction and
Development (EBRD), a major actor in the
energy efficiency field, has been working in
partnership with United Nations Environment
Programme Finance Initiative (UNEP FI), the
global partnership between UNEP and the
private financial sector on sustainable finance,
to jointly mobilize financial institutions to
support SE4All’s energy efficiency goals, and in
the context of recent G20 work dedicated to
energy efficiency finance.
•double the share of renewable energy in
the global energy mix.
3 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
STATEMENT BY FINANCIAL INSTITUTIONS ON
ENERGY EFFICIENCY FINANCE
We, the Alliance of Energy Efficiency Financing Institutions:
•acknowledge that the financial sector is uniquely
placed to channel finance to activities that
promote energy efficiency
•understand there are many unaddressed energy
efficiency financing opportunities in our markets
•are already providing finance to support our clients
with energy efficiency investments
•will actively contribute to scaling up energy
efficiency financing
•without taking on undue burden, are willing to work
towards tracking our deployment of energy
efficiency finance
•recognise the need to further embed energy
efficiency investment principles into the way in
which we engage with our clients
•have a special interest in guiding our clients
towards best practice financing decisions,
including on modernisation and competitiveness
strategies that instil enhanced energy efficiency
•are willing to work with institutional and public
financiers seeking to deploy climate finance to our
clients
•welcome the opportunity to share our experiences
and acquire knowledge of successful business
strategies for integrating energy efficiency across
our financing operations.
PARIS COP21 4
THE STATEMENT IS ENDORSED BY THE FOLLOWING
FINANCIAL INSTITUTIONS
ABN AMRO
Netherlands
ACBA - Credit Agricole Bank
Armenia
ACCESSBANK
Azerbaijan
Agjencioni Per Financim NE Kosove (AFK)
Kosovo
AKBank
Turkey
Ameriabank
Armenia
Armswissbank
Armenia
ASN Bank
Netherlands
Bai Tushum & Partners
Kyrgyz Republic
Banamex
Mexico
Banca Transilvania
Romania
Bancolombia
Colombia
Bancompartir
Colombia
Bank Eskhata
Tajikistan
Bank Millennium
Poland
Bank of Georgia
Georgia
Bank of India
India
Bank of Valletta
Malta
Bank Republic
Georgia
Basisbank
Georgia
BBVA
Spain
Belgazprombank
Belarus
Belvnesheconombank
Belarus
BMCE Bank of Africa
Morroco
BNP Paribas
France
Bpifrance
France
BPS-SBERBank
Belarus
BRAC Bank Limited
Bangladesh
BRD - Groupe Societe Generale
Romania
CASA DE Economii SI Consemnatiuni
Romania
CenterInvest Bank
Russia
CIBanco
Mexico
5 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
Connecticut Green Bank
United States of America
Crédit Agricole
France
Crédit Coopératif
France
Crédit Foncier
France
CREDO
Georgia
Daegu Bank
South Korea
Demirbank
Azerbaijan
Demir Kyrgyz International Bank
Kyrgyz Republic
DenizBank
Turkey
Desjardins Group
Canada
EcoBank
Togo
Erste & Steiermarkische Bank
Croatia
Eurobank
Greece
Firstrand
South Africa
Garanti Bankasi
Turkey
Garanti Leasing
Turkey
Halkbank Skopje
FYR Macedonia
Hana Bank
South Korea
HSBC Bank Armenia
Armenia
Humo MDO
Tajikistan
Imon International
Tajikistan
Industrial Bank
China
ING Group
Netherlands
Kyrgyz Investment and Credit Bank
Kyrgyz Republic
La Banque Postale
France
Megabank
Ukraine
Microinvest
Moldova
Minsk Transit Bank
Belarus
Mobiasbanca
Moldova
Moldindconbank
Moldova
Moldova Agroindbank
Moldova
Mutualista Pichincha
Ecuador
PARIS COP21 6
National Bank of Egypt
Egypt
NLB Tutunska Banka
FYR Macedonia
NRW Bank
Germany
Ohridska Banka
FYR Macedonia
OTP Bank Romania
Romania
Piraeus Bank
Greece
Procredit Group
Regional
Raiffeisen Bank Aval
Ukraine
Raiffeisen Bank
Bosnia and Herzegovina
Raiffeisen Bank
Romania
SEF International Universal C.predit Organization
Armenia
Şekerbank
Turkey
Shinhan Bank
South Korea
Slovenska Sporitelna
Slovak Republic
Societe Generale
France
Societe Generale Banka Beograd
Serbia
State Export Import Bank of Ukraine
Ukraine
Sudameris Bank
Paraguay
Sumitomo Mitsui Trust Holdings
Japan
Tatra banka
Slovak Republic
Triodos Bank
Netherlands
TuranBank
Azerbaijan
Türkiye İş Bankası
Turkey
Türkiye Sinai Kalkinma Bankasi
Turkey
UK Green Investment Bank
United Kingdom
Ukrsibbank
Ukraine
Unibank Commercial Bank
Azerbaijan
Unicredit Bank Mostar
Bosnia and Herzegovina
Unicreditbank
Serbia
Unicredit Bulbank
Bulgaria
Unicredit Tiriac Banka
Romania
United Bulgarian Bank
Bulgaria
Vakiflar Bankasi
Turkey
VTB Georgia
Georgia
Xac Bank
Mongolia
Yapı ve Kredi Bankasi
Turkey
YES Bank
India
Zagrebacka Banka
Croatia
7 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
THE IMPLEMENTATION OF ENERGY EFFICIENCY
FINANCE BENEFITS FROM THE SUPPORT OF
THE FOLLOWING INSTITUTIONS
Climate Investment Funds
The Climate Investment Funds’ Clean
Technology Fund is strongly supportive of the
financial institutions’ joint statement made at
the Energy Efficiency Finance Forum in Istanbul
in 2015. We believe this will support further the
transformation of lending markets to focus more
strongly on energy efficiency finance. The EBRD
has been at the forefront of our partners in the
Clean Technology Fund in lending money to banks
for the creation of energy efficiency credit lines that
have brought considerable benefit to enterprises
and households. The proposed joint statement
is distilling this experience into a set of ideas that
we would welcome to be shared and applied
more widely in order to increase the availability of
energy efficiency finance to SMEs and households,
thereby helping to mitigate climate change.
Global Environment Facility (GEF)
Meeting growing energy demands alongside the
spectre of dangerous climate change is one of
the greatest development challenges of our time.
It’s imperative that all countries transition to
clean and sustainable energy systems, focused
on energy efficiency and renewable energy. For
this reason, the GEF supports the vision and
commitment of the Alliance of Energy Efficiency
Financing Institutions and their joint statement.
The role for financial institutions at all levels is
critical to accelerating investments in energy
efficiency technologies that can help address
climate change. The GEF will continue to inspire
innovative approaches for blended finance
while also helping build capacity of financial
institutions to better understand the benefits
and low-risk of energy efficiency investments.
Regional Center for Renewable Energy
and Energy Efficiency (RCREEE)
RCREEE strongly supports the financial
institutions’ joint statement on energy efficiency
finance made at the Energy Efficiency Finance
Forum in Istanbul in 2015.
Since its inception in 2008, RCREEE’s purpose
has been to enable and facilitate widespread
sustainable energy practices in the Arab region.
Throughout its 17 Member States, RCREEE
promotes strategies and partnerships for
untapping the vast energy efficiency potential
and opportunities across all sectors in the region.
RCREEE pursues its mission by identifying energy
efficiency opportunities, providing technical
assistance to Member States in energy efficiency
planning, building capacity from the ministry-level
to the Arab youth, and by teaming up with the
private sector to kickstart energy efficiency pilot
projects and financing in the region. By means
of the Center’s regional grounding and political
mandate, wide multi-stakeholder network,
solid institutional capacity and sound regional
understanding, RCREEE is fully committed to
enabling energy efficiency as a core strategy
to the Arab region’s market opening, economic
diversification and sustainable economic growth.
PARIS COP21 8
INDIVIDUAL STATEMENTS BY FINANCIAL
INSTITUTIONS ON ENERGY EFFICIENCY FINANCE
AKBANK
Akbank is fully committed to supporting the
transition to a low-carbon economy for a more
sustainable environment and an inhabitable
world. We leverage our client relationships
and seize opportunities to make a positive
contribution to that end. We have developed
products and services that support clients’
energy efficiency projects. As Akbank, we have
partnered with IFIs such as the EBRD, IFC and
OPIC since 2010 to promote Energy Efficiency
and Renewable Loans and raised over US$ 40
million of funds. We will continue to address
energy efficiency issue, work to scale up finance
for energy-efficient investments and provide
financing to support low-carbon economy.
AMERIABANK
Ameriabank is one of the first financial
institutions in Armenia that signed an agreement
with the EBRD to finance energy efficient and
renewable energy financing projects in the
Republic of Armenia.
The newly evolved scope of cooperation
contributes to the development of the clean
energy sector, while ensuring efficient use of
energy amongst the industrial and residential
sector clients. It helps in promoting energy
efficiency investment initiatives in Armenia.
Ameriabank has already implemented a
number of successful sub-projects in the
scope of EE financing. It is worth mentioning
that the incentive payments designed by the
EBRD and funded by donors are an efficient
tool to motivate companies to share the global
environmental goals.
Our lending team is very keen to further
promote the initiative with its clientele en route
to energy efficient, hence environmentally
cleaner investments.
We highly appreciate our role and responsibility
in being one of the EBRD’s EE ambassadors in
Armenia, aiming to enhance the awareness for
energy efficiency and use the gained skills in
sustainable energy lending.
ARMSWISSBANK
We endorse the joint statement issued at the
Energy Efficiency Finance Forum in Istanbul.
We also aim to stimulate energy efficiency
investments in our activities. In order to raise
awareness among businesses, the Bank
organizes meetings with existing and potential
clients to inform them about energy efficiency
lending and the advantages of these products.
We also offer lower interest rates for these type
of energy investments, as opposed to other
investments. To demonstrate that we are a
Bank that makes real lending investments in
the economy, we also look for opportunities for
energy efficiency lending in start-up businesses.
BANAMEX
Banamex has a long history of commitment with
the creation of solutions that benefit people and
communities, as well as with the reduction of the
environmental impact of our operations. As part
of the financial sector, Banamex’s Sustainability
Strategy includes the task of financing and
investing activities that mitigate the impact
of climate change, as well as the promotion
of renewable energy and energy efficiency
financing.
9 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
BANCA TRANSILVANIA
Banca Transilvania believes in supporting
environmental and climate change initiatives
and we are pleased to endorse the Financial
Institutions’ Statement of Intent on Energy
Efficiency, which is entirely in line with our
position on the matter. BT is firmly committed
to protecting the environment and is already
offering support to energy efficiency investments
and projects, but we do acknowledge and
understand the need for increased efforts and
more substantial results, which is why we trust
that the joint efforts and shared experiences
of public and private financiers and partners
will actively contribute to raising awareness
and achieving the UN proposed global rate of
improvement in energy efficiency by 2030.
BANK OF VALLETTA
In line with Bank of Valletta’s vision to position
itself as the Green Bank in Malta and reduce
its impact on the environment, the Bank has
developed a number of tailor made lending
products to assist individuals as well as
corporate clients keen on investing in projects
that reduce their carbon footprint. Concurrently
the Bank has continued to invest in renewable
and energy efficiency initiatives resulting in a
reduction of over 887,000kg of CO2 emissions
per year.
projects through the JESSICA fund, together with
F.I.D.A.E. In this context, we finance improved
energy efficiency for companies, commercial
buildings and local governments with a focus on
streets and building lighting.
BMCE BANK OF AFRICA
BMCE Bank Of Africa is proud to be a member
of the alliance launched by the first Energy
Efficiency Financing Forum of EBRD and UNEP FI
in Istanbul. With a commitment to sustainable
development dating back to its privatization in
1995, BMCE is celebrating the 20th Anniversary
of the creation of its Foundation for Education
and Environment this year.
In its journey towards sustainable finance, BMCE
Bank Of Africa, became the first African signatory
of the UNEP FI in 2000. Guided by a systemic
integrated approach to sustainability, the bank
set up social and environmental management
systems – SEMS since 2008 and SME in 2011
– to mitigate risks and its direct and indirect
impacts. This approach enabled the Bank to
adopt the Equator Principles in 2010. Through
its environmental policy, BMCE Bank of Africa
addresses Energy Efficiency and sustainable
construction, guiding actions leading to ISO
14001 and HQE certifications. The latter are
being reinforced with the recent launch of ISO
50001 and carbon footprint projects.
BBVA
As a responsible bank, BBVA has been selected
by the European Investment Bank (EIB) in 2013
to manage and finance sustainable energy
In terms of financing Energy Efficiency and
Renewable Energy, the bank has emphasized
solutions integrating advisory services and
PARIS COP21 10
technical support. Starting with “Energico” in
2012, BMCE Bank developed “Cap Energy”
as the first partner of MorSEFF in the region
this year, with EBRD and its partners EIB,
AfD and KfW. Today, BMCE Bank of Africa,
with a presence in 30 countries, reaffirms its
commitment to sustainability and positive
impact finance, including energy efficiency.
CEC Bank SA, the only state owned Romanian
universal commercial bank, remains committed
to further support new energy efficiency
investments by Romanian companies in
accordance with the strategy of the EBRD,
in order to acquire successful business and
improve environment protection.
BNP PARIBAS
CI Banco is the only bank in Mexico financing
families to install solar panels at their house, and
consume sustainable energy.
Given that energy efficiency has a major
role to play in overall efforts to reduce GHG
emissions, BNP Paribas is to significantly
step up its initiative in this field. The Group will
further expand the offers already available to
individual customers for the purpose of making
home energy efficiency improvements, both
through loan plans plus dedicated services and
through partnerships with equipment suppliers
and installation providers. BNP Paribas also
intends to increase its support for companies
which devote a significant part of their business
activities to finding solutions for reducing
energy consumption.
CASA DE ECONOMII SI
CONSEMNATIUNI
Shortly after Romania’s accession to the EU, and
in line with the government’s policy priorities,
CEC Bank expanded its lending business by
extending its commercial lending for energy
efficiency investments, with a view to supporting
the sustainable development of the country.
Upon entering the Energy Efficiency Finance
Facility Agreement with the EBRD in early 2008,
over 15 such projects were financed by our bank
in sectors such as agriculture, manufacturing,
and services. As a result, the beneficiaries
marked important energy savings translated
in reduced energy expenditure, improved
production and capacity utilization.
CI BANCO
CREDIT AGRICOLE
Credit Agricole has to be useful to its customers,
territories and to the economy it supports. Our
job requires us to be a driver, particularly in the
transition to a more responsible and low carbon
economy.
DEMIRBANK
DemirBank started financing renewable
energy and energy efficiency projects with
the support of the EBRD under the Caucasus
Energy Efficiency Programme (CEEP) in 2014.
By offering this innovative product to its wide
customer base, the bank aimed to capture
the multiple benefits of the sector that largely
remained untouched in Azerbaijan. Starting
from the first quarter of this year DemirBank
has granted loans to almost 100 customers
that helped them to address the challenges of
high energy prices, energy security, air pollution,
etc. DemirBank continuously works with their
customers to raise the level of their energy
efficiency awareness and empower them to
make more informed decisions.
ECOBANK
Across its geographic footprint in 36 African
countries, Ecobank remains interested in
exploring opportunity in energy efficiency
11 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
financing as an innovative impact banking
product, because it is good for the environment,
business, social livelihood and economic
development.
ERSTE & STEIERMARKISCHE BANK
One of the main strategic guidelines of Erste
Bank is the intense focus on quality projects
which encourage long-term and sustainable
development of entrepreneurship in the energy
sector, employment growth and improving
environmental protection. Erste Bank has
recognized the energy industry as one of the
focus industries, which through its financial
products and services can help in boosting the
competitiveness and sustainability of the energy
sector. We want to support our clients in their
efforts for effective and responsible business
through both our programs and cooperation
with international financial institutions. Having
that in mind we continuously develop internal
capacity to support all client segments that we
finance. Starting with the professional support
through a team of specialists with high expertise
and knowledge in the energy industry to the
specific credit offers such as eco loans that are
especially designed for both energy efficiency
and use of renewable energy sources. Erste
Bank will continue to support the objectives of
the EU in this area through internal awareness
of the importance of energy efficiency, educating
its clients through a team of specialists and
financing positive examples in the area of
energy efficiency, and thus contribute to the
implementation of the given strategy.
FIRSTRAND
FirstRand is dedicated to the promotion of
energy efficiency, both in our own operations
and to our clients. We have been providing
financial support in the form of niche eco-loans
for a number of years and we continuously
seek ways in which we can develop innovative
financial products to address the plethora
of opportunities that successful energy
management present to our clients. In recent
months FirstRand has been focusing on energy
efficiency financing and alternative energy
solutions, in close collaboration with our SME
clients in business and in our agriculture sector,
initially as a direct result of the energy crisis in
South Africa which has negatively impacted on
various business activities, but going forward, in
ensuring the businesses that we finance remain
resilient and sustainable in the future.
GARANTI BANKASI
As climate change continues to be one of the
most material risks affecting the communities
across the world, we have been contributing
to energy efficiency efforts, which help
drive significant amounts of greenhouse
reduction and support Turkey’s transition to
a more sustainable economy, through the
following activities.
Promoting energy efficiency through
sustainable banking practices:
•Garanti views energy efficiency and the
use of renewable sources in industrial and
manufacturing operations as well as in
buildings a significant opportunity to cut
Scope 1 and 2 emissions of its customers.
Garanti therefore provided loans to small
and medium sized EE and RE projects
through Turkey Sustain able Energy
Financing Facility (TurSEFF) and Mid-Sized
Sustainable Energy Financing Facility
(MidSEFF), both of which are supported by
the European Bank for Reconstruction and
Development (EBRD) and the European
Investment Bank (EIB).
PARIS COP21 12
•Garanti has a 35% share in Turkey’s total
installed windpower capacity among all
banks (The share goes up to 52% among
Turkish banks).
•While 66% of all transactions were executed
through digital channels in 2004, this ratio
reached 85% in 2014. The number of our
mobile banking customers expanded by
84% in the twelve months to end 2014.
These delivery channels greatly reduce
energy and other resources associated to
road transport while enhancing customer
satisfaction.
Improving the energy efficiency of our own
operations:
•70% of our employees in Turkey are working
at IS014001 certified buildings. The
coverage of our Environmental Management
System (EMS) will increase to 100% by the
end of 2015.
•Garanti is the first bank in Turkey to receive a
Green Office diploma from WWF Turkey.
•Garanti is building its Pendik Technology
Campus under LEED Gold criteria. According
to the US Green Building Council, LEED
buildings typically save 18-39% of total
energy use than comparable buildings.
Garanti is also working on a project in
order to certify its Zincirlikuyu Head Office
according to LEED criteria for existing
buildings.
•In light of these efforts, Garanti achieved
10% reduction in total energy consumption
and 12% reduction in total energy
consumption per employee in 2014,
compared to 2013 baseline.
•Garanti is also targeting supplier contracts
representing 50% of total procurement
to include specific provisions regarding
compliance with Garanti Bank’s EMS by the
end of 2016.
•Garanti has been implementing an
internal communications strategy and
training program for sustainability
since 2012, and enables all employees
to submit recommendations about
increasing the environmental performance
of the Bank’s opera. These programs allow
us to embed sustainable practices such as
energy savings in our employees’ daily life.
Expanding energy efficiency practices to a
broader community:
•Garanti is a board member and also the
Head of Sustainable Finance Committee of
Turkish Green Building Council (TGBC) which
is the only association in Turkey to promote
green, energy efficient buildings.
•Garanti has contributed to the forming of a
new initiative called the Manifesto for Energy
Efficiency in Buildings which was developed
by the Business Council for Sustainable
Development in Turkey. As a board member
to TBCSD, Garanti is also one of the first
signatories of the Manifesto.
•With an aim of promoting sustainable
finance in Turkey, Garanti has supported the
following events in several ways:
a. a
n Environmental and Social Risk
Assessment training jointly with UNEP-FI;
b. a Sustainable Finance Conference
together with UN Global Compact, UNEP-
13 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
FI and the Turkish Business Council for
Sustainable Development (TBCSD); in
2013, 2014 and 2015;
c. a Sustainable Finance Event for senior
representatives of financial sector in
collaboration with TBCSD, and;
d. a
n event called “Sustainable Financial
Innovation and Leadership Workshop
Series: Environmental & Social Risk
Management” organized by Bogazi
University Lifelong Learning Center and
Responsible Investment Banking Network
in 2015.
As Garanti, we are committed to continue
supporting energy efficiency efforts throughout
our entire value chain and increasing the value
we provide for all our stakeholders moving
forward.
GARANTI LEASING
We are aware of the material risks affecting the
communities across the world and recognize
the financial sector’s importance in the
implementation of energy efficient projects. A
well-known player in international markets, we
finance cost-effective energy efficient projects
of our clients through loans collected from
international financial institutions. Hence, we
participate in the development of a robust
energy efficiency and renewable energy market
in Turkey.
Sensitive to the environmental soundness of the
investments we are financing, we are a reliable
partner of our clients in their energy efficient
projects as well as the modernization of their
investments, and we will continue supporting
energy efficiency efforts throughout our entire
value chain.
HALKBANK SKOPJE
Halkbank AD Skopje supports local businesses
and households with loans for investments in
projects with an EE component through credit
lines from the EBRD’s WeBSEFF and GGF.
The main objective of these projects is to
increase energy efficiency, decrease energy
costs, reduce HFO and LFO consumption,
reduce of natural gas consumption and O&M
costs as well as CO2 emissions and to bring
environmental, health, safety and quality
standards to the level of EU requirements. The
projects helped Macedonian companies become
more energy efficient, easing their access to the
EU market and to Macedonian households to
increase their EE awareness.
Using the Halkbank’s EE loans for a total amount
of €8 million, 71 companies and more than
1,200 households have a total energy saving
of 28.733 MWh per year, and a total saving of
CO2of 12.370 t per year.
Halk Bank takes operations in EE sector
mainly as social responsibility as one of the
stakeholders in our energy society.
HUMO MDO
Today the problems of energy conservation
are most severe in many countries of the
world. Efficient use of energy can reduce its
costs and improves the energy security of
the country. Inefficient use of energy, and the
constant lack of light in the remote areas of the
country is strongly reflected in the education
of our youth and health of the population.
In the winter the felling of trees is damaging
the environment. MDO Humo is pleased to
participate in the project on energy efficiency.
Now the development of appropriate of banking
products is a priority for our company. Today,
PARIS COP21 14
we are looking to create new products, modern
technologies that provide the most significant
energy-saving effect.
LA BANQUE POSTALE
Energy efficiency is a topic that goes hand in
hand with the ecological and energy transition
which La Banque Postale and the Group La
Poste as a whole have made a major strategic
focus in this decisive year for the climate. The
Group therefore supports all initiatives that are
in line with a reduction of GHG emissions.
MEGABANK
Foreign partners of MEGABANK understand
the essence of implementingenergy saving
technologies for Ukraine and are ready to invest
not only funds, but also obtained experience.
MEGABANK in the framework of international
cooperation has found itself at the edge of this
process,having made lending to energy saving
projects one of the high-priority directions of
its activity. Today MEGABANK, PJSC is actively
financing energy saving projects and investing in
rational usage of energy resources, provided in
the framework of cooperation with international
organizations (EBRD, GGF, NEFCO, The World
Bank). MEGABANK has implemented and is
continuing to implement energy saving projects
in the agricultural, industrial, energy and housing
and utility sectors.
MUTUALISTA PICHINCHA
Since 2009 we are promoting sustainable
construction in order to achieve energy efficiency
in homes. Furthermore, as a financial institution
we recognize the impact of credits granted in
the environment and that further drives our
commitment.
MINSK TRANSIT BANK
JSC “MTBank” was the first independent
private bank in the Republic of Belarus that
the European Bank for Reconstruction and
Development provided financing to for energy
efficiency projects in 2012. Therefore, thanks
to the support of the esteemed EBRD, MTBank
became the first bank in Belarus to offer a
unique banking product: a loan for financing
energy efficiency projects aimed at reduction
of energy consumption, and the decrease of
carbon emissions and environmental pollution.
Unfortunately, every year the environmental
problems in the world are getting worse.
Environmental protection is becoming an
important task for each socially responsible
company. Thanks to cooperation with MTBank
and the EBRD Belarusian companies have
switched to alternative fuels: they use the
energy of the sun, wind and water. Nowadays
MTBank actively encourages potential clients
to take measures aimed at reducing energy
intensity and improving energy efficiency.
MTBank Team intends to do their best to save
natural resources, not to do any harm to the
environment and to reserve for MTBank’s status
as a truly “green” brand.
NLB TUTUNSKA BANKA
In line with the international event on ‘Building
a Global Energy Efficiency Financing Alliance’
organized by the EBRD, NLB Tutunska banka AD
Skopje would like to support this event and its
objectives by issuing an individual statement
which reflects specific energy efficiency
financing actions that NLB Tutunska banka AD
Skopje is undertaking.
15 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
NLB Tutunska banka AD Skopje is using
EBRD’s WeBSEFF I and WeBSEFF II lines to
provide Energy Efficiency financing on the
local market. It is among the first, and one
of the few, banks that support Macedonian
companies by providing funds for energy
efficiency improvements and small renewable
energy projects. Through the technical support
available, the companies are supported to
include energy efficiency in their modernization
and competitiveness strategies. Apart from
this, NLB Tutunska banka AD Skopje is also
using its own funds to finance Energy Efficiency
projects and is providing advice for customers
on the benefits of Energy Efficiency investments,
thereby actively contributing towards the
companies’ growth, through competitive
products crafted to the actual needs of the
market. During the last period, Energy Efficiency
has become an important part of NLB Tutunska
banka AD Skopje’s business and its importance
will grow in the forthcoming period, as there
is still potential in the market that need to be
fulfilled. Therefore, NLB Tutunska banka AD
Skopje is dedicated to continuous work in this
segment and is looking forward to expanding
cooperation with financial institutions and other
relevant stakeholders.
OHRIDSKA BANKA
In 2010, OB was the first bank in Macedonia that
placed energy efficiency funds on the market by
signing a WeBSEFF I agreement with the EBRD
and at the same time pioneer in banking sector
in financing such projects.
We are glad to confirm that we have
strengthened our expertise and knowledge
in this field thanks not only to support from
our mother company, but also through strong
support received by EBRD representatives.
EE financing continues to be an important part of
our total corporate financing (including SMEs as
well), either by utilizing EBRD funds or using our
own funds.
During this year we have made strong efforts to
transfer part of this knowledge and to explain
to our clients the benefit of EE. Many clients
have understood this and successfully realized
EE projects.
NRW BANK
However, there is still room for improvement
and our mission is to fulfil this gap by further
enhancing the benefit of EE projects. For OBSG,
energy efficiency is not just a line of business but
also a source of social responsibility toward local
companies.
As the development bank for North RhineWestphalia, NRW.BANK is committed to
actively promoting energy saving and energy
efficiency in our region. By designing sustainable
promotion instruments for our clients such as
the NRW.BANK efficiency facility (NRW.BANK.
Effizienzkredit), we support energy efficiency
measures that benefit small and medium-sized
enterprises.
We, the Piraeus Bank SA, support and finance
companies, institutions, organizations
and projects which benefit people and the
environment by improving the energy efficiency,
reducing the final energy consumption and
the relevant greenhouse gas emissions, with
economically viable solutions.
PIRAEUS BANK
PARIS COP21 16
Our goal is to turn economic development into
quality of life by focusing on human dignity
without endangering future environmental and
social indices.
PROCREDIT GROUP
As part of ProCredit’s corporate strategy, all
our banks have implemented a comprehensive
Environmental Management System. It is based
on three pillars, namely (I) optimising our internal
environmental performance, (II) managing the
environmental and social risk of our lending
activities and (III) Green Finance.
Green Finance constitutes an integral part
of our business and is funded with our own
resources. Our Green Loans finance investments
in energy efficiency, renewable energy and other
technologies that have a positive impact on the
environment. The aim is to support our clients’
economic development while minimising their
ecological footprint.
RAIFFEISEN BANK
BOSNIA AND HERZEGOVINA
In accordance with the sustainability strategy
of Raiffeisen Bank, environmental aspect is
represented through various activities and
initiatives. We would like to point out especially
ecologic responsibility for the products we offer
such as special credit lines for energy efficiency
and integration of the ecological dimension
into our procedures. We introduced electronic
statement service which reduces paper waste
and also, in our paper recycling project, we
recycle paper waste and donate the entire
proceeds. In the end, we would like to point out
that all our buildings, as far as possible, were
constructed on high ecological standards.
SEKERBANK
1. Sekerbank’s Sustainable Development
Strategy
Founded in 1953 with the small savings
of hundreds of thousands of sugar beet
cooperative members for the purpose of
financing agriculture, local production and
rural development, Sekerbank has continued
to carry out its founding mission over the past
62 years. The bank has been developing this
community banking mission, which stems
from its roots towards the perspective of
sustainable development. Sekerbank embraces
sustainable development banking as its core
business and manages this under three major
areas; economic, social and environmental.
Sekerbank’s broad-based loan portfolio and
branch network, and at the same time people
oriented services make Sekerbank stand out
in the sector. However, Sekerbank’s greatest
breakthrough achievement in the field of
sustainable development is being the first bank
to develop a product financing energy efficiency
investments with favourable conditions as a role
model in the Turkish Finance Sector.
2. E
KOkredi (A loan financing energy efficiency
investments and expenditures)
In 2009, Sekerbank developed EKOkredi; a
loan financing energy efficiency investments
and expenditures in all customer segments
with favourable conditions in order to create
awareness on preserving natural resources and
combating climate change via energy efficiency.
The bank also drew attention to saving waste
energy with the aim of contributing household
budgets.
17 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
3. T raining & specific marketing tools &
collaboration with private sector and NGOs:
All marketing staff working in Sekerbank’s
branches attend a training programme and are
certified as consultants for insulation, which is
very important for energy efficiency in buildings.
In addition to this, Sekerbank employees have
also been trained and informed on energy
efficiency through annual meetings, e-trainings,
special seminars or focus group studies on
carbon trade, sustainability, stakeholder
engagement, and so on.
5. Being the best practice in sustainable
development at Rio+20 UN Sustainable
Development Conference:
It is a great honor for us that in the “Rio+ 20
United Nations Sustainable Development
Conference” EKOkredi was selected as one of
the best practices in the Turkish finance sector,
in an assessment supervised by the Turkish
Republic Ministry of Development. EKOkredi set
a precedent as a role model and opened the
door for other Turkish banks to develop similar
products.
Communication studies are being conducted
to create widespread awareness on energy
efficiency, while the real sector and NGO
cooperations in this area have contributed to
spread energy efficiency throughout society.
6. International Financial Institutions and climate
funds resources on energy efficiency:
As a result of its successful studies on
spreading energy efficiency into its local base
customer profile throughout Turkey, Sekerbank
has welcomed many IFIs and climate funds
specially pertaining to EKOkredi. The IFIs and
funds that provided resources to Sekerbank
for EKOkredi are German Development Bank
(KfW), Green for Growth Fund: Southeast Europe
(GGF), Global Climate Partnership Fund (GCPF),
Netherlands Development Finance Company
(FMO), Development Bank of Austria (OeEB) and
TuREEFF (Turkish Residential Energy Efficiency
Financing Facility).
Furthermore, the bank has kept track of
greenhouse gas emissions caused by its own
activities and taken part in platforms to fight
against climate change. Sekerbank has taken
place in the Carbon Disclosure Project (CDP)
since 2010 by measuring its own carbon
emission footprints every year.
4. E
conomic, environmental and social impact
provided via EKOkredi:
• Provided over TL 613 million in financing
support.
• 61,728 retail customers and 7,398 SMEs,
craftsmen and farmers have been introduced
to energy saving.
• 4 million tons of CO2 emissions were
prevented.
• Loans funded the insulation of more than
95 thousand houses.
• 177 million cubic-meters of natural gas has
been saved.
• 18.7 billion kilowatt-hour energy has
been saved.
7. Vision
Our main goal is being the leading bank in
financing sustainable development in Turkey
from a social, environmental, cultural and
economic aspect, while also fulfilling our society
oriented founding mission. We will preserve our
pioneering position in financing energy efficiency
through aligning our efforts with Sustainable
Development Goals (SDGs) to ensure access
to affordable, reliable, sustainable and modern
energy for all.
PARIS COP21 18
SHINHAN BANK
Shinhan Bank, one of the leading banks in
Republic of Korea, recognizes energy efficiency
finance as a significant issue for sustainability
management.
Shinhan Bank has set its target for response
to energy efficiency as establishment of a
world-class energy efficiency management
system and development of market-leading
energy efficiency finance. The energy efficiency
management system of Shinhan Bank
indicates its determination to fundamentally
manage customers’ energy efficiency, and
we will globalize corporate energy efficiency
management by upgrading on a regular basis. To
support energy efficiency finance, Shinhan Bank
is creating financial products including green
architecture-related loans, carrying out research
projects for investments in the green technology
industry, developing processes and systems.
Shinhan Bank has demonstrated a new model
of public-private cooperation for expansion
of energy efficient buildings. For the first time
in Korea, Shinhan Bank launched the Green
Remodeling Interest Subsidy Loan, which
support customer seeking to remodel his/
her building to gain energy efficiency with the
construction cost, while the customer is eligible
for the government’s support for 2-4% of the loan
interest rate depending on the energy efficiency
performance. And Shinhan Bank launched
products such as Green Energy Factoring
Loan which funds LED lighting replacement
in client’s building and receives repayment
from the saving costs of electric bills. Besides
loans, Shinhan Bank has been lining up energy
efficiency originated products such as Green
Plus Installment Saving and Green Energy Time
Deposit which enhancing customers’ interest on
energy efficiency finance.
Also, we have been carrying out energy saving
and GHG reduction activities such as controlling
indoor temperature during summer and winter,
replacing LED lights, and purchasing green
IT products; furthermore, we are operating
an environmentally friendly data center that
is equipped with solar panels, LED lights, a
wastewater recycling system, as well as an
ice thermal system. We also hired an external
expert as a consultant to better operate the
energy management system (ISO 50001) and
effectively respond to the GHG & Energy Target
Management System.
STATE EXPORT IMPORT BANK
OF UKRAINE
Almost a decade of concentrated efforts in
promoting sustainable energy development by
Ukreximbank created a unique opportunity to
effectively support the true leaders of Ukrainian
economy in the hour of need, and at a growth
path. Having deployed the best intellectual and
material resources, including the internal Energy
Efficiency capacity, standardized sustainable
energylending product, E&S risk management
tools, boosted by the nation wide network and
IFI involvement, we gained valuable market
expertise in project origination, channelling
targeted funding and pioneering of numerous
success stories so necessary to scale up
energy efficiency countrywide. As before, in
Ukreximbank today we stand ready to further
support carbon-free economic development,
jointly with the respectable fellow Member-Allies
by means of fostering of financial, technical and
advisory cooperation within the Alliance and
beyond.
SUDAMERIS BANK
Sudameris Bank is aware that energy is
essential for economic development, at the
country level, as the main engine of productive
19 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
activities. However, power generation and the
way it is used has the effect of increasing climate
change and its associated risks. It is for this
reason that the bank, as part of its strategies,
emphasizes the need to increase concrete
actions aimed at promoting the use of renewable
energies as well as the efficient use of energy.
SUMITOMO MITSUI TRUST HOLDINGS
Energy efficiency finance has been one of
our main environmentally-friendly busıness
for a long time. So we are very happy with an
endorsement of the Statement of Intent on EE
finance.
TÜRKIYE İŞ BANKASI
As İşbank, we recognise energy efficiency as an
important alternative domestic energy source
and believe it should be prioritized considering
Turkey’s current energy policy challenges. Hence,
we expect that the energy efficiency finance
market will accelerate and there will be an
increasing demand for energy efficiency loans
especially from residential and construction
businesses, transport, industry and services
sectors. We aim to increase our concentration
on energy efficiency by introducing new loan
products and financing our customers’ energy
efficiency investments ever more.
and plant specific technical consultancy services
provided by our expert team add an innovative
vision and potential to every project financed by
TSKB.
TURANBANK
As you are aware, one of the key directions of
the Bank’s corporate social responsibility is
environmental issue. Abatement of the level of
the negative impact on environment, caused by
our operation, is an important aspect the Bank
has taken over within its social responsibility. A
specifically designed report on an environmental
impact occurred as a result of current or
expanding activities of economic subjects will
be introduced and considered one of the main
factors in decision making. The report concerns
lending activity and cover the period within
which the economic subjects are financed
within the framework of local and international
projects. The Bank’s strategic thinking related
to environmental protection lies on the following
five factors:
TÜRKIYE SINAI KALKINMA BANKASI
1. Avoid using dangerous substances.
2. Efficient and economical use of reserves.
3. Efficient and economical use of energy
sources.
4. Use of alternative sources of energy.
5. Enlightenment and promotion associated
with effective energy use.
At TSKB (Industrial Development Bank of
Turkey), we believe that the finance sector has
an important responsibility concerning the
sustainability centred transformation of the
business world. In this context, we place great
importance in the efficient and rational use
of the energy in energy intensive industries
and buildings, in the transition to low carbon
economy in our country. Our activities in this field
are not limited to financial support. The industry
In addition to the aforementioned factors, the
Bank uses a special methodology in project
financing. At the same time, the Bank keeps an
eye on mitigation of a negative environmental
impact at all stages of its activities as an
important liability. Also, as an important step,
the Bank considers taking such actions as
alleviating the negative environmental impact
as well as recycling waste and decreasing the
PARIS COP21 20
amount of office waste, and promotes these
practices among its employees. In addition,
organizing environmental tours throughout the
country is one of the key directions of the Bank’s
activity within environmental protection.
The overall responsibility for the policy is at the
top management level and the policy itself is
communicated to all employees. The Bank’s
financing and investment decisions is guided by
the Environmental and Social Policy that clearly
outlines the requirements of (potential) projects
or those that clients have to meet in order to be
eligible. In this regard, the policy allows defining
potential risks on the proposed projects and
outlining detailed risk appraisal.
Environmental Management System under ISO
14001 standardization, and in 2008 introduced
a Social and Environmental Management Policy
to reduce waste and impact from banking
activities. XacBank’s Eco Banking Department
leverages concessional financing from
international sources to incentivize a sustainable
growth trajectory for Mongolia’s people and
private enterprises. In 2014, XacBank partnered
with the EBRD to introduce the USD$ 10 million
Mongolian Sustainable Energy Financing Facility
(MonSEFF), which has greatly improved the
bank’s energy efficient lending capacity by
utilizing the facilities’ green advisory services to
provide international expertise to clients.
ZAGREBACKA BANKAW
Finally, the TuranBank OJSC actively contributes
to scaling up energy efficiency financing in
the upcoming years and is willing to work with
various IFIs looking to use climate finance with
our clients.
UNICREDIT TIRIAC BANKA
In response to the EBRD’s request to express
our endorsement for the Declaration of Intent on
Energy Efficiency, we hereby express our support
for it, as it is in line with UniCredit Group strategy
on environmental issues. At UniCredit Bank
Romania we are always willing to provide support
and financing for eligible investments in energy
efficiency or renewable energy.
XAC BANK
XacBank incorporates sustainability into its
mission, being a bank with a triple bottom
line of “Planet, People, and Profit.” The bank
is the only one in Mongolia with a department
focused on sustainable energy finance. In
2002, XacBank introduced a Social and
As the leading bank in Croatia, Zagrebacka
banka is aware of its environmental
responsibility and impact, and thus maintains
a strong focus on sustainable development
and business. Following the latest global
trends in the development of our strategy,
we systematically support projects related to
renewable energy sources and energy efficiency.
Given the importance of sustainable growth,
Zagrebacka banka has accepted the Policy
and Charter for Environment and Sustainable
Development, and is the first Croatian financial
institution to receive the Award for General
Contribution to Environmental Protection in
the category of socially-responsible companies
from the Croatian Ministry of Environmental
Protection and Physical Planning in 2003. In our
day-to-day operations, we aim to systematically
and continuously raise the bar of social
responsibility and environmental responsibility
in the market we operate in, and we will continue
on the same path in the future.
21 MOBILISING 100 FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY
PARIS COP21 22
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23 100+ FINANCIAL INSTITUTIONS FOR ENERGY EFFICIENCY