CBBH is committed to NGFS Cali-Baku Pledge to Enable Action

Central Bank of Bosnia and Herzegovina, an active member of the Network for Greening the Financial System (NGFS), is proud to announce the release of the NGFS Cali-Baku Pledge to Enable Action on the occasion of the 2024 United Nations Biodiversity Conference (COP16) and the United Nations Climate Change Conference (COP29), reaffirming its commitment to play an enabling role in the global effort to green the financial system.

With the publishing of Cali-Baku Pledge to Enable Action, our coalition of 141 central banks and financial supervisors and 21 observers from across the globe:

- Recognises the need to consider the economic impacts and financial risks arising from climate change and nature degradation with an integrated approach in order to fulfil monetary policy aims and financial stability maintenance;

- Commits to helping its members address climate and nature-related financial risks by providing analytical frameworks, tools, and guidance;

- Invites the broader financial community, particularly ministries of finance, financial institutions and corporates, to make use of these resources.

The Pledge builds on the latest findings from the NGFS Climate Scenarios, which underscore that limiting global warming to 1.5°C and achieving net zero CO2 emissions by 2050 remains possible but requires increased and coordinated efforts across all sectors. The Pledge identifies several initial cases for policy makers and financial institutions to leverage the NGFS’s publicly available resources. The NGFS invites decision-makers from the broader financial community to use these resources to manage climate and nature-related risks. The Pledge includes a list of recent and upcoming NGFS publications.

The CBBH is committed to providing resilience to climate related financial risks and continued implementation of sustainable business standards, accepting the global objectives established by the Paris Agreement.

The Network for Greening the Financial System (NGFS), launched at the Paris One Planet Summit on 12 December 2017, is a group of central banks and supervisors, which on a voluntary basis is willing to share best practices and contribute to the development of environment and climate risk management in the financial sector, and to mobilize mainstream finance to support the transition toward a sustainable economy. The NGFS brings together 141 central banks and financial supervisors and 21 observers. Together, they span across five continents, operate in economies that account for more than 88% of global greenhouse gas emissions and are collectively responsible for the supervision of all global systemically important banks and more than 80% of the internationally active insurance groups. The NGFS is chaired by Ms Sabine Mauderer, First Deputy Governor of the Deutsche Bundesbank. The Secretariat, headed by Mr Yann Marin is provided by Banque de France.

For more details, visit the NGFS website, LinkedIn and X account or contact the NGFS Secretariat at Banque de France [email protected]

Press Office at Banque de France : +33 (0) 1 42 92 39 00 / [email protected]