The National Bank of Ukraine (NBU) has joined the Sustainable Banking Network (SBN), which brings together financial regulators and banking associations from developing countries.
“Realizing the challenges posed by climate change for the sustainable development of the state, we are committed to implementing green finance initiatives. Joining the Sustainable Banking Network (SBN), which aims to improve environmental, social and corporate governance in the banking sector, is of great importance to us in the context of sustainable development of the financial sector of Ukraine,” NBU Governor Kyrylo Shevchenko said.
The formal ceremony took place during a working visit of the NBU governor to the United States on November 9-13, 2020, and a meeting with the leadership of the International Finance Corporation (IFC), under the auspices of which SBN was created.
The National Bank began its path to creating a sustainable financial system, expanding green investments in the economy, supporting financial products that have a positive impact on the climate, as well as exchanging experiences with SBN member countries.
Cooperation within the framework of the Sustainable Banking Network will help the National Bank achieve one of its goals until 2025 – to improve the quality of risk management in the financial sector, namely, to introduce a system for assessing the social and environmental risks of borrowers.