The First Meeting of the Working Group for Preparing the Financial Sector’s Road Map towards Sustainable Finances
18/09/2024
The inter-institutional Working Group for Preparing the Financial Sector’s Road Map towards Sustainable Finances, which the CBCG coordinates, held a constitutive meeting today.
The working group was established as a temporary working body of the Financial Stability Council to draft a document on the impact of the environment and social and management principles when making decisions on investments in the financial sector.
The Road Map aims to establish a unique strategy with several interconnected objectives to accelerate the Montenegrin economy’s transition towards sustainable business. Key objectives include increasing financial flows towards sustainable development priorities, integrating environmental, social and governance (ESG) factors into financial decision-making, and strengthening risk management practices related to climate change and environmental challenges.
The working group, coordinated on behalf of the Central Bank by Ms Biljana Gligorić, advisor to the CBCG Governor for ESG and innovation, includes representatives of the Ministry of Finance, the Ministry of Economic Development, the Capital Market Authority, the Insurance Supervisory Agency, the Association of Montenegrin Banks, the Montenegrin Investment Agency, Directorate for Protection and Rescue under the Ministry of Internal Affairs, the Green Club of the Parliament of Montenegro, the University of Montenegro, the Chamber of Commerce of Montenegro and the UNDP’s Office for Sustainable Development, independent experts and NGOs.