The European Bank for Reconstruction and Development (EBRD) is scaling up its green finance as part of its Green Economy Transition approach, which seeks to increase the bank’s volume of green financing to 40 percent (roughly €4 billion) by 2020, participants at the recently held Green Cities Framework (GrCF) seminar in Stockholm (Sweden) heard.

The EBRD will do so through the Green Cities Framework, which has been developed by ICLEI Europe together with OECD. The Framework offers a comprehensive business model for green urban development, combining strategic planning with investments and associated technical assistance.

The recent seminar was held to take stock, acknowledge achievements and define the future direction of the Green Cities Framework. In attendance were Mayors and Deputy Mayors from across Europe, including Erion Veliaj, Mayor of ICLEI Member Tirana (Albania), and Ms. Nora Martirosyan - Head of Programme Implementation Unit, ICLEI Member Yerevan (Armenia).

A mix of keynote speeches and panel discussions on topics such as green city financing, private sector engagement, and the climate economy made up the seminar programme. Among the speakers was ICLEI Europe Regional Director Wolfgang Teubner, who participated in a stakeholder engagement session.

“The stock-taking of the Stockholm Seminar showed that urban transformation is possible, if the financing and investment sector aligns it’s actions with the needs of sustainable development. The idea to pitch long-term infrastructure investments in accordance with objectives for urban sustainable development was our motivation, when ICLEI Europe decided to support the EBRD in developing the Green City Action Plan Methodology. This is badly needed, if we are serious about the Paris Agreement and the UN Sustainable Development Goals. And it is good to see that ICLEI member cities such as Tirana take a lead, here”, said Mr Teubner.

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