Financing the transition to a green and low carbon economy consistent with the ‘well below 2°celsius’ goal set out in the Paris agreement and promoting environmental sustainable growth are among the major challenges of our time. In the process of responding to environmental and climate challenges, there are both opportunities and vulnerabilities for financial institutions and the financial system as a whole.
At the Paris “One Planet Summit” in December 2017, eight central banks and supervisors established a Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Since then, the NGFS has grown to 30 Members and 5 Observers, representing 5 continents. The Network’s purpose is to help strengthening the global response required to meet the goals of the Paris agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development. The NGFS published on 11 October 2018 its first Progress Report summarizing the preliminary findings of its stock take exercise of national, regional and international initiatives.
Mis à jour le : 06/03/2019 15:28