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Georgia and South Africa Knowledge Exchange (June 2020)

September 14,2020

In June 2020, National Bank of Georgia and National Treasury of South Africa, facilitated by SBN and IFC, held a knowledge exchange session to share experiences in the development of national green finance taxonomies.
Both National Bank of Georgia and the National Treasury of South Africa are in the process of developing their national sustainable finance taxonomies. Facilitated by SBN and IFC, they held a virtual knowledge exchange session to share experiences in this area.

The National Treasury of South Africa started its sustainable finance journey in 2016 with SBN and IFC support. Its recent technical paper “Financing a Sustainable Economy” concludes that “regulators and industry sectors should consider the adoption of existing, international work to create a taxonomy for South Africa.”

The National Bank of Georgia, an SBN member since 2017, lists developing a sustainable finance taxonomy as part of its Sustainable Finance Roadmap (2019). Its ESG Reporting and Disclosure Principles (2020), supported by SBN and IFC, require commercial banks to conduct ESG reporting and disclosure that is aligned with international good practices.

IFC implements its Environmental, Social, and Governance Advisory Services Program in Europe and Central Asia in partnership with the Swiss State Secretariat for Economic Affairs SECO.