ADB Becomes Observer Of Network For Greening The Financial System

Business World | Jul 3, 2020 at 2:09 PM
  • NGFS, launched at the Paris One Planet Summit on December 12, 2017, is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector while mobilising mainstream finance to support the transition toward a sustainable economy.
  • ADB joins the ranks of the World Bank, the International Finance Corporation, the International Monetary Fund, and the Organisation for Economic Cooperation and Development as NGFS observers.
  • ADB’s inclusion to the NGFS is aligned with the goals in its corporate strategy, the Strategy 2030, particularly in tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; fostering regional cooperation and integration; and strengthening governance and institutional capacity.