By investing in more than 70 green projects so far, Erste Bank has significantly contributed to the reduction of harmful gas emissions, the increase of electricity production from renewable sources and the positive impact on local communities. These projects represent concrete steps towards the development of ESG principles and a sustainable future. Commitment to these goals continues through constant support for initiatives in the field of green energy, not only in Serbia, but also in the wider region. As a leader in this field, Erste Bank continues to contribute to the process of green transformation, working on projects that help achieve the long-term goals of energy stability and environmental protection.
ESG Principles as the Key for Sustainable Business Development
By supporting sustainable initiatives and promoting the ESG agenda, Erste Bank plays a key role in the energy transition. Recently, at the SEE Energy 2024 conference, which was organized by the National Association for Biomass SERBIO, Jelena Simić Jarić, Director of the Department for Large Legal Entities, Public Sector and Corporate Financing at Erste Bank, participated in a panel entitled “ESG Principles in the Energy Transition: Innovations, Challenges and Opportunities”.
During the panel, she highlighted the key role of ESG strategies in the energy transition, stressing that it is crucial for companies to recognize the need to invest in green technologies and implement sustainable business practices. She underlined how companies that recognize the challenges of the energy transition in time and start the necessary investments can maintain competitiveness and achieve long-term sustainable development.
Investments in Serbia’s Green Future
Erste Bank has recognized the enormous opportunities for investments in renewable energy sources and the green future of Serbia, and one of the most recent projects in that area is Čibuk 2 wind farm, the sixth wind farm financed by the Bank in Serbia. This project plays a key role in achieving Serbia’s goal that by 2030, 41 percent of electricity will be produced from renewable sources. Čibuk 2 is the continuation of the existing Čibuk 1 wind farm, which already produces enough electricity to supply around 113,000 households, making it the largest operational wind farm in the country. In addition to a significant reduction in carbon dioxide emissions, this project contributed to Serbia’s energy stability, opening new perspectives for the further development of the green economy.
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Supporting Energy Efficiency Through Green Loans
Environmental sustainability and reducing the negative impact on the environment are becoming key topics for building a sustainable future. Initiatives that encourage environmentally responsible behavior have become necessary in order to create a better world for future generations.
That is why Erste Bank develops products aimed at improving energy efficiency, reducing energy consumption and emissions of harmful gases. Green loans are one of the key steps in encouraging environmentally conscious financial decisions, enabling citizens and entrepreneurs to invest in technologies that will contribute to the preservation of the environment and the reduction of energy costs.
In recent years, an increasing number of Serbian citizens have been using green loans to make their homes more energy efficient and reduce energy costs. As a leader in the field of green financing in Serbia, the Bank recognized the importance of this topic and, through a pilot project that was implemented in cooperation with the European Bank for Reconstruction and Development (EBRD), within the Green Economy Financing Program (GEFF) for the Western Balkans a year ago approved the first loan to a residential community in Serbia. Three buildings in Svilajnac received a loan in the amount of 10 million dinars for the replacement of outdated fuel oil boilers with modern gas heating systems.
These projects are not only economically profitable, but also have long-term benefits for the environment, reducing the emission of harmful gases and improving the quality of life of citizens.
Commitment to Sustainable Development
Committed to sustainable business and responsible investments, Erste Bank believes that the green transition is the key to a better future – not only for Serbia, but also for the whole world. Through investments in renewable energy sources, green projects and support for ESG principles, Erste Bank creates long-term values for the society, the economy and the environment, remaining committed to the mission of creating a sustainable future and setting high standards for sustainable business and a positive impact on climate change.
Source: Erste Bank
