The CBBH became a member of two internationally recognized networks for sustainable financing

The Central Bank of Bosnia and Herzegovina (CBBH) became a member of two internationally recognized networks - Network for Greening the Financial System (NGFS) and Sustainable Banking and Finance Network (SBFN).

Membership in these networks will enable the improvement of business standards in the field of central banking through the application of best practices in the international environment, with the aim of preserving the environment and reducing climate risks, which is one of the biggest challenges today.

„I am very pleased that the Central Bank of Bosnia and Herzegovina has become a member of the Network for Greening the Financial System and the Network for Sustainable Banking and Finance. Membership of the CBBH will contribute to better and more efficient risk management, their analysis, identification and proactive decision-making. This will ensure a contribution to the financial system towards a sustainable economy, in line with the best practices and experiences of other central banks. The CBBH is committed to ensuring resistance to financial risks related to the climate and continuing the implementation of sustainable business standards, accepting the global goals established by the Paris Agreement,“ said the Governor of the Central Bank of Bosnia and Herzegovina, Jasmina Selimović, Ph.D.

The Network for Greening the Financial System (NGFS) consists of 141 central banks and banking sector regulators from developed and developing countries, as well as, 21 international organizations with the role of observers. The Sustainable Banking and Finance Network (SBFN) consists of 94 organizations from 72 countries, covering at least 92% of banking assets in countries considered to be emerging markets.

As an equal member, the CBBH will also contribute to the goals and work of these networks by engaging itself in various working groups that will contribute to the achievement of climate goals and sustainable business standards in the financial sector.

Following the standards of sustainable business, during the past year, the CBBH started the process of investing a part of the portfolio of foreign exchange reserves in green bonds, the issued funds of which are intended for the financing of green, socially responsible and sustainable projects. At the same time, the CBBH applies good practices of saving and preserving the environment by contributing to policies and activities in the field of resource management, digitization and raising awareness of an environmentally friendly way of life and work.

More information about the Network for Greening the Financial System (NGFS) and the Sustainable Banking and Finance Network (SBFN) is available at the following links: https://www.ngfs.net/en and https://www.sbfnetwork.org/.