BCR has provided financing of €18.5 million to the Italian group Alerion Clean Power for constructing a photovoltaic plant with a 35 MW installed capacity in Călărași County.
Romania's renewable energy sector has seen significant growth in the past few years and it offers further potential to achieve the planned climate neutrality in the year 2050.
For the green transformation of the Romanian economy, it is of critical importance to have a true alignment of the private and public sectors.
Romania should have a body that regulates the ESG field (environment, social, and governance), and the ministries should prepare sustainability reports, says Călin Ionescu, CEO of Sphera Franchise Group. Although there is an obligation to publish the ESG report for all companies with over 500 employees, apart from multinationals, most do not publish it because there is no sanction.
In 2022, BCR granted funding of approximately €2.5 million for the development of associations and social enterprises, supporting the creation of approximately 1,800 jobs. More than 67,000 children and adults learned to build a better relationship with money through financial education workshops organized by BCR volunteers and partner associations. More than 160 NGOs were supported to develop impact programs in local communities.
The Sustainability Academy was launched, the first social and educational platform dedicated to SMEs in Romania, with free access. The Sustainability Academy is a Sustainable Futures brand project initiated by Social Innovation Solutions together with the Coca-Cola Foundation, founding partner, and BCR, main partner. The Sustainability Academy aims to help SMEs willing to adopt sustainability strategies and aims to increase the number of sustainable businesses in Romania.
BCR gas entered the international market with the first issue of green Eurobonds, worth €700 million. The funds will be directed toward renewable energy projects, green mortgages, and green buildings.
The banking sector has a very important role in promoting the green economy by providing green loans and sustainable support.
BCR together with Erste Group arranged senior credit facilities for Enery Power Holding to acquire an 81 MW renewables portfolio.
Some of the key components of the necessary framework to support sustainability and attract additional investment for companies are transparency, monitoring and reporting, says Ilinka Kajgana, Executive Vice President Risk, Member of the Executive Committee at BCR.
Pehart Group, one of the largest tissue paper producers in Southeast Europe and the largest producer and processor of household paper products in Romania, is extending the syndicated loan obtained two years ago to €78 million.
The European Union has reached a provisional agreement to reduce the scope and stringency of two major ESG regulatory frameworks: Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD).
Lidl Romania has published its eighth sustainability report for the 2024 financial year, announcing accelerated progress in reducing environmental impact. The retailer has achieved its international 2030 target for transitioning to natural refrigerants, with these now used in 100% of logistics centres and 81.7% of stores, compared to the original goal of 100% of logistics centres and 40% of stores. The company has also increased its green energy usage to 80% of total consumption.
Global law firm Dentons has advised OX2 on acquiring three wind power projects totaling 235 MW in Romania from Future Power. The projects, located in Vaslui and Vrancea counties, are expected to be commissioned between 2028 and 2030, subject to permitting.
Romania is emerging as a key destination for Turkish renewable energy investments, attracting growing interest from industrial and financial groups. Real grid connection opportunities for projects, infrastructure modernisation potential, and investment framework stability make Romania strategic for Turkish capital as Europe accelerates its transition to sustainable sources and energy independence.
51% of Romanian entrepreneurs see sustainability as a way to reduce operational costs, yet the same proportion say implementation is too expensive, according to a new study by BRD Groupe Société Générale. Conducted among micro and small-to-medium enterprises, the research outlines how Romanian entrepreneurs perceive the opportunities and challenges of transitioning to sustainable business models.
