The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) strives to build a green financial sector, and to enhance the efforts of the financial industry to meet the Paris climate objectives. This for example includes mobilising capital for green and low-carbon investments. NGFS also identifies what measures are needed to manage climate risks.
DNB has been involved in the NGFS since the outset. Other pioneers include the central banks and supervisory authorities from China, France, Germany, Mexico, Singapore, Sweden and the UK. Since its creation in December 2017, the NGFS has attracted an increasing number of countries and organisations. New NGFS members and observers include organisations from: Australia, Belgium, Finland, Japan, Luxembourg, Morocco and Spain. The ECB is also a participant. The network is chaired by Frank Elderson, member of DNB's Governing Board. “I am delighted that central banks are joining forces to make a collective contribution to a sustainable financial system.”
The Network brings together the BaFin, the Bank al Maghrib, the Banco de España, the Banco de Mexico, the Bank of England, the Bank of Finland, the Banque de France and the French Autorité de Contrôle Prudentiel et de Résolution (ACPR), De Nederlandsche Bank, the Deutsche Bundesbank, the European Central Bank (ECB), the Swedish Finansinspektionen, the Japan FSA, the Monetary Authority of Singapore, the National Bank of Belgium, the Oesterreichische Nationalbank (OeNB), the People’s Bank of China (PBOC), and the Reserve Bank of Australia.
The network organises conferences which address the latest sustainability issues for central banks and supervisory authorities. The first NGFS conference on climate risk was held in April 2018 in Amsterdam. Read below the report. In September DNB will host a meetingon sustainable investment for central bankers.
For further information, visit the NGFS website.