National Bank hosts 200 attendees in annual Sustainable Finance Forum

The National Bank of Georgia on Wednesday hosted the fifth edition of the Sustainable Finance Forum, attracting over 200 attendees from 15 countries worldwide.

The event was organised in collaboration with the International Finance Corporation, its partner the Swiss State Secretariat for Economic Affairs, and the IFC-facilitated Sustainable Finance and Banking Network.

The NBG said the Forum served as a global platform bringing together senior representatives from the European Union, SBFN member countries, central banks from various regions, local financial institutions, international organisations, private and public sector representatives, universities and other stakeholders.

Ekaterine Mikabadze, the Vice Governor of the National Bank, opened the event by highlighting the NBG's commitment to sustainable finance and the “significant progress” made in this domain.

Our journey in sustainable finance has been characterised by progress and collaboration. The urgency of addressing sustainability issues and the pivotal role of the financial sector in supporting sustainable development cannot be overstated. The NBG remains committed to furthering the sustainable finance framework”, she said.

The Forum featured discussions on sustainable finance frameworks, with a particular focus on emerging countries. Key topics included the strategies of regulators and market participants in addressing environmental, social and governance and climate-related risks, the role of taxonomies in supporting sustainable finance, and the importance of disclosure and transparency in the process. 

Ivana Fernandes Duarte, the IFC's Regional Manager for the South Caucasus, said  sustainable solutions “need investments worth billions of dollars” and the financial sector had a “key role to play” in attracting them. 

This will require well-coordinated joint efforts by central banks, ministries of finance, capital market regulators, and banking associations. The progress so far has been remarkable, but the sky is the limit, and this forum is another step forward in achieving more”, she said.

The NBG-IFC-SBFN Sustainable Finance Forum is an annual event founded in 2018.