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The annual EBRD Sustainability Awards recognise the efforts of clients who have demonstrated excellence and a commitment beyond the Bank’s Performance Requirements for managing environmental and social issues, promoting energy efficiency or combating climate change.

We received 28 nominations across the four categories and the winners were selected by an external judging panel consisting of experts in finance and sustainability. The quality of nominations this year was exceptional and the task of shortlisting deserving clients was challenging. We are very proud of our clients’ efforts and the excellent quality of the nominations and winners.

This year’s winners were:

Environmental & Social Best Practice: the Eurasia Tunnel (Turkey)

This award was presented to ATAS (Avrasya Tüneli İşletme İnşaat ve Yatırım A.Ş.) for their management of the Eurasia Tunnel project. ATAS has demonstrated exceptional and consistent management of environmental, health and safety standards and contractor management. It is also recognised for its broad programme of stakeholder engagement and cultural heritage, where extensive discussions with the Preservation Councils and UNESCO resulted in the preparation of a Heritage Impact Assessment (HIA) in line with UNESCO guidance for HIA for Cultural World Heritage Properties.

Environmental and Social Innovation: the Hines Poland Sustainable Income Fund (regional)

This award was presented to Hines International Real Estate Holdings for the development and operation of the first green property fund within the Bank’s countries of operations, The Hines Poland Sustainable Income Fund. The Fund invests in office, logistics and mixed-use properties in Poland with the aim of implementing best sustainability practices through refurbishment and re-fitting. Improvements cover better energy, water and waste management, certification to the LEED or BREEAM standards, improved building management and awareness-raising for tenants on key sustainability issues.

Sustainable Energy: the Sokhna Alternative Fuels Plant (Egypt)

This award was presented to Lafarge Cement Egypt for its efforts to increase the use of alternative fuels in its operations. The project, financed with the EBRD, involves the construction and operation of a waste treatment plant that processes pre-treated municipal, agricultural and industrial wastes into alternative fuels. The project will result in more efficient and cost-effective use of municipal waste, and assist Lafarge in avoiding energy disruptions and rising prices for fossil fuels and help in reducing the cement plants’ energy costs and CO2 emissions.

Climate Change Adaptation: the Qairokkum Hydro Power Rehabilitation Project  (Tajikistan)

This award was presented to Barki Tojik, a state-owned power utility responsible for the rehabilitation of the Qairokkum Hydro Power Project. The project will result not only in improvements to the efficiency of existing hydropower facilities but also their resilience to climate change impacts. A key part of the project preparation was modelling future hydrology under a range of climate change scenarios, allowing Barki Tojik to optimise productivity and reliability and, through accurate forecasting, ensure dam safety in extreme weather events such as floods.


Climate Change Adaptation: the Qairokkum Hydro Power Rehabilitation Project (top image)

Environmental & Social Best Practice: the Eurasia Tunnel (bottom right)

Environmental and Social Innovation: the Hines Poland Sustainable Income Fund (regional) (bottom left)