The European Bank for Reconstruction and Development is committed to promoting environmentally sound and sustainable development in the full range of its activities pursuant to the Agreement Establishing the EBRD. The Bank recognises that environmental and social sustainability is a fundamental aspect of achieving outcomes consistent with its transition mandate. Therefore, projects that foster environmental and social sustainability are among its highest priorities. This document supersedes the EBRD Environmental and Social Policy (2019) and its associated Environmental and Social Requirements (previously called Performance Requirements).