NEWS

National Bank hosts workshop on emissions for financial institutions with German fund

The NBG and the Georgian office of the German Sparkassenstiftung fund on Monday hosted a workshop for the Georgian financial sector. Photo: NBG

Agenda.ge, 16 Oct 2023 - 16:26, Tbilisi,Georgia

The National Bank of Georgia and the Georgian office of the German Sparkassenstiftung fund on Monday hosted a workshop promoting sustainable finance development and implementation of the environmental risk management processes in the Georgian financial sector.

The NBG said the main topic of the workshop was calculation of financed emissions and matters related to its reporting, with Kempten University Professor Dr. Tobias Peylo and representatives of the Sustainable Finance Division of the Financial Stability Department of the NBG presenting financed emissions methodology and a related tool.

The NBG said the tool was used to calculate financed emissions throughout lending activities of commercial banks.

It added the tool enabled financial institutions to better analyse their credit portfolios, determine the share of financed emissions, identify climate change-related risks and opportunities, and improve business processes in environmental management while making “better strategic decisions”.

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