National Bank of Ukraine prioritizes green finance UkraineAlert by Kyrylo Shevchenko
The National Bank of Ukraine in central Kyiv. (REUTERS/Valentyn Ogirenko)
The past eighteen months of pandemic disruption have been a transitional period for the entire world that has also brought rapid change to financial ecosystems. The Ukrainian banking sector is now adapting to this new reality, along with the entire Ukrainian business community.
Without any doubt, the main factor shaping Ukraine’s future development is the pathway towards further European integration. Ukraine chose this path in 2014 when it signed an Association Agreement with the EU.
Among other things, this Association Agreement provides for the implementation of EU regulations in the Ukrainian financial market. This process is long and challenging, but we remain committed to further progress, no matter how many obstacles we encounter.
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access time2020-12-24 08:00:19
The
National Bank of Georgia (NBG), in cooperation with the International Finance
Corporation (IFC), a member of the World Bank Group, and the IFC-supported
Sustainable Banking Network (SBN), organized a knowledge-sharing session with
the National Bank of Ukraine (NBU). This event served as a platform for
discussing the role of central banks in developing a sustainable finance
framework and exchanging experiences in this regard.
The NBG joined SBN in September of 2017 and has
been successfully collaborating on a number of sustainable finance projects
since then. The key milestone in the development of a sustainable finance
framework for Georgia was the launch of the
The COVID-19 pandemic has changed the views of investors who do not only look at the profit side but also see the sustainability aspects of a project. Sustainability practices have become an important factor embedded in the business and operational activities as consumers and the government are more aware about values and risk on social and environment aspects.
As for now, Indonesia and China are entering the maturing stage of 38 countries in the Sustainable Banking Network (SBN), initiated by the International Financial Corporation (IFC). This assessment is based on the extent to which sustainable finance has been implemented and what impact it has had. One way this is gauged is by measuring banks that participate in green finance.