National Bank of Romania has joined the Network of Central Banks and Supervisors for Greening the Financial System (NGFS)
02.10.2020
National Bank of Romania (NBR) has become a member of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). NGFS was established by eight central banks and supervisors in December 2017 at the One Planet Summit in Paris to strengthen the global response required to meet the goals of the Paris agreement, counting 72 members and 13 observers as of September 18, 2020. NGFS aims to improve the analysis and management of climate-related and environmental risks and to mobilize mainstream finance to support the transition toward a sustainable economy.
The National Bank of Romania has taken a close interest in the analysis and research related to the impact of financial risks associated to climate change, following constantly the progress achieved under the auspices of international fora. Furthermore, the National Bank of Romania has already taken steps to identify, develop and utilize some of the specific climate risk analysis tools within the financial stability policy framework and organized, together with the IMF, a special session on Climate-related risks and financial stability for the 2019 Annual Seminar on Financial Stability Issues.
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