Latest News – 20 February 2024: SBFN Welcomes The New Member: Macedonian Banking Association

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Makhtar Diop, IFC's Managing Director, has called for global alignment of sustainable finance taxonomies to direct capital to urgent common goals, such as addressing climate change. He explains that, while each country has its own needs and priorities, policymakers and regulators can identify common design features, align impact metrics and accounting standards, and embrace an “adopt or adapt” approach — borrowing templates or criteria from others and adjusting as needed.
ABJ is the banking association of Jordan which was established in 1978. As an esteemed member of the Union of Arab Banks, ABJ is dedicated to enhancing the banking industry. The core objectives encompass safeguarding the interests of its members, modernizing banking services, fostering comprehension of banking practices and standards, and maintaining adherence to unified regulations and procedures.
The Azerbaijan Micro-Finance Association (AMFA) has joined the Sustainable Banking and Finance Association (SBFN), solidifying AMFA’s commitment to advancing sustainable and equitable economic growth in Azerbaijan. Established in 2001, AMFA has grown to become a prominent professional association representing 27 members, consisting of 22 non-bank credit organizations, three banks, a credit union and a leasing company.
The Central Bank of the Republic of Kosovo (CBK) has become a member of the Sustainable Banking and Finance Network (SBFN) in conjunction with its efforts to advance sustainable finance practices and fortify the financial system's resilience to climate-related and environmental risks. CBK regulates and supervises a range of financial institutions, including banks, insurers, pension funds, microfinance institutions, non-bank financial institutions, and insurance intermediaries.
Observing its 40th anniversary under the theme “ECCB@40: A Year of Reflection, Celebration and Implementation,” the Eastern Caribbean Central Bank (ECCB) recently held a three-day Global Conference in collaboration with Central Banking Publications. The forum, which attracted 120-plus central bankers, including 15 governors and deputy governors from all seven continents, addressed crucial topics such as greening the financial system, reserves management, fintech, and central bank digital currencies (CBDCs).
TBA was formed in 1995 as an association of banks and financial institutions in Tanzania. TBA together with its members act as a main contributor and facilitator of economic growth in the country ensuring the sustainability of the banking sector in the country. TBA supports the development of sustainable finance in the country by formulating and implementing sustainable finance policies with clear environmental, social, and governance (ESG) guidelines.
During a recent 39th Chairs’ meeting of the ASEAN Capital Markets Forum hosted by the Financial Services Authority of Indonesia (OJK) focusing on sustainable capital markets, several key actions were taken to enhance sustainability practices in the financial sector. The meeting attendees endorsed the ASEAN Transition Finance Guidance, establishing a common standard for transparent and inclusive transition finance. Additionally, they approved the revised ASEAN Corporate Governance Scorecard, aligning it with the updated G20/OECD Principles of Corporate Governance, emphasizing sustainability-related governance.
IFC and the Central Bank of Kenya (CBK) with support from the Sustainable Banking and Finance Network (SBFN) convened the inaugural Africa Climate Business Forum, bringing together approximately 300 senior executives. The IFC/CBK Climate Forum created a platform for dialogue and collaboration among private sector stakeholders, government officials, and thought leaders on crucial economic and business issues related to accelerating climate finance.
The Sustainable Banking and Finance Network (SBFN) welcomes Bankers Association of Zambia (BAZ) as its newest member. Founded in 2008, BAZ is a membership- based organization representing 17 registered and licensed commercial banks in Zambia. The Association supports its members in developing sustainable green solutions, builds capacity in green finance, and contributes to important sustainability discussions in the country.
Central Bank of Armenia (CBA), a SBFN member since 2021, unveiled the first national Sustainable Finance Roadmap in October 2023. The Roadmap is a response to growing climate risks facing the country, as well as an existing gap to finance sustainable development. It outlines the CBA’s expectations and planned actions to advance sustainability in the financial sector covering a range of financial market participants, including banks, credit institutions, insurance, and asset managers.
The Central Bank of the Republic of Kosovo (CBK), Kosovo Banking Association (KBA), Sustainable Banking and Finance Network (SBFN), and International Finance Corporation (IFC), a member of the World Bank, in partnership with the Swiss State Secretariat for Economic Affairs (SECO), on 5 October 2023 convened the Sustainable Finance Forum in conjunction with efforts to promote sustainable banking and environmental, social, and governance (ESG) integration in the country.
On May 25, 2023, the Union of Banks of Kyrgyzstan organized the 8th annual Bishkek International Financial Forum (BIFF) with the theme "Technologies, Opportunities, Sustainable Development." The forum aimed to facilitate professional communication, partnership, and growth within the financial sector. Co-organized by the National Bank of the Kyrgyz Republic, the United Nations Environment Programme (UNEP), and the International Finance Corporation (IFC), the event featured speakers from various countries.
Sustainable Finance Week 2023 was held in Ulaanbataar, Mongolia from 13 to 16 June in celebration of the tenth anniversary of the Mongolian Sustainable Finance Initiative, a globally recognized example of public-private partnership to scale up sustainable finance. The event was hosted by the Office of the President of Mongolia in partnership with the Mongolian Sustainable Finance Association, Sustainable Banking and Finance Network (SBFN), International Finance Corporation (IFC), Institute of Finance and Sustainability (IFS), and Trade and Development Bank of Mongolia (TDBM).
The Sustainable Banking and Finance Network (SBFN), Bank of Central African States (BEAC), and IFC, a member of the World Bank Group, hosted an international forum on sustainable finance in Douala, Cameroon, on May 8-9, 2023. The event was attended by nearly 200 senior officials representing financial sector regulators and industry associations from more than 20 African countries.
The Central Bank of Azerbaijan (CBAR), a Sustainable Banking and Finance Network (SBFN) member since 2022, published the country’s first Sustainable Finance Roadmap in February 2023.  The Roadmap sets out the country’s ambition for sustainable finance for the period 2023-2026 and aims to ensure both sustainability of the financial sector to the environmental, social and governance (ESG) risks and the realization of green finance opportunities.
The Sustainable Banking and Finance Network (SBFN) welcomes the Securities and Exchange Commission of Zambia (SEC) as its newest member. SEC is the regulator of the capital markets in Zambia and was established in 1993 through an Act of parliament. The SEC is responsible for the supervision and development of the Zambian Capital Markets, as well as licensing, registration and authorization for financial intermediaries, issuers of debt and equity instruments and collective investment schemes.
In December 2022, at the invitation of the Ministry of Ecology and Environment, and under the guidance of the China Banking and Insurance Regulatory Commission (CBIRC), the China Banking Association (CBA) held a side event on Bank’s nature and climate initiatives during the second phase of the 2020 UN Biodiversity Conference (COP15).
National Bank of Georgia, IFC, and SBFN co-hosted the 4th annual Sustainable Finance Forum in Tbilisi, Georgia, in partnership with the State Secretariat for Economic Affairs in Switzerland (SECO). The event has increased its global reach over the years and was attended by over 300 participants from 55 countries both in person and virtually.
The European Union (EU) Platform on Sustainable Finance published “Platform recommendations on Data and Usability as part of Taxonomy reporting” and a "Final Report on Minimum Safeguards of the EU Taxonomy", which provide important insights into the implementation of the EU Taxonomy and application of minimum safeguards.