A stable, well-functioning financial market for allA stable, well-functioning financial market for allThe Network for Greening the Financial System has published its first report
The members of the international Network for Greening the Financial System (NGFS) acknowledge in their first report that climate-related risks are a source of financial risk. The Network therefore clarifies that it is within the mandates of central banks and supervisors to ensure the financial system is resilient to climate-related risks.
In conjunction with the publication of the report last week, the Network, together with the World Bank Group, arranged a meeting in Bali to discuss how financial regulation can contribute to more sustainable development. One of the participants in the panel was Finansinspektionen's Chief Economist, Henrik Braconier.
NGFS stands for Network for Greening the Financial System. It was created in December 2017 and consists of 19 members, of which FI is one. Since last June, the central banks in Finland, Luxembourg, Belgium and Australia and the financial supervisory authority in Japan have joined the network.
