The Sustainable Banking and Finance Network (SBFN) is pleased to announce the official commencement of its collaboration with the National Bank of Tajikistan (NBT). In a working session held on April 2, the Chairman of the National Bank of Tajikistan, Tolibzoda Firdavs, engaged in discussions with representatives of SBFN and the International Finance Corporation (IFC) regarding the goals and expectations of NBT’s membership in SBFN.

CRMS is an integrated framework that includes aspects of governance, strategy, risk management and disclosure to assess the resilience of bank business models and strategies in facing climate change in the short, medium and long term. The initiation of guidance development related to climate risk management in Indonesia itself has been started since 2023 through the issuance of initial guidance which is further developed to be more comprehensive as outlined in the 2024 CRMS Guideline document.

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).

The aim of the strategy is to transform Jordan’s financial sector into a leading force for green finance mobilization and enhanced resilience against climate-related and environmental risks while also enabling Jordan to become one of the regional leaders in sustainable finance. The preparation of the strategy was supported by the World Bank Group.

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.

The State Bank of Pakistan, a SBFN member since 2015, launched its Environmental and Social Risk Management (ESRM) Manual in November 2022. A set of monitoring and evaluation indictors for banks to report ESG performance improvement over time are also launched in conjunction with the Manual

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 Bank of Thailand launched Thailand Taxonomy on July 5, 2023. The Taxonomy is a result of Phase 1 of the taxonomy development co-led by the Bank of Thailand and the Securities and Exchange Commission. Thai Bankers Association, an SBFN member since 2012, also contributed to the development.

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.