CBCG becomes a member of the Network for Greening the Financial System

04/10/2022

The Central Bank of Montenegro (CBCG) has become a member of the Network for Greening the Financial System (NGFS).

The NGFS is an international organisation comprising central banks of developed and developing countries. Key supervisory institutions at the global level, such as the International Monetary Fund, the World Bank, the Bank for International Settlements, etc., participate in its work as observers.

By joining this group and adopting the Central Bank of Montenegro Policy Related to Climate Change Challenges, the CBCG has confirmed its determination to lead a policy aimed at strengthening the financial system's resilience to climate change challenges. Through membership in this group and communicating and cooperation with international partners, the CBCG will exchange experience and best practices in climate risk management in the financial system and mobilise capital for green and low-carbon investments, which will contribute to a faster transition to a sustainable and greener economy.