Featured Product

    MNB and EBRD Held Conference on International Green Finance

    November 15, 2019

    MNB and European Bank for Reconstruction and Development (EBRD) jointly organized the International Green Finance Conference in Budapest. In connection with the program, a seminar was also held for central banks and supervisors of Central, Eastern, and Southeastern Europe under the aegis of Network for Greening the Financial System (NGFS). Representatives of the invited authorities consulted on climate risk oversight, central bank responsibilities, and future opportunities for international cooperation on the issue.

    In the conference, Irene Heemskerk, the Senior Strategic Adviser at DNB and the Network for Greening the Financial System (NGFS), stressed the importance of the new climate responsibility of national banks and financial supervisors. György Matolcsy, the Governor of MNB, said that environmental and financial risks are interrelated and climate change mitigation is an element of financial stability that market participants, regulators, and supervisors must support with their own resources. Csaba Kandrács, the Deputy Governor of MNB, outlined the measures planned by the Hungarian central bank to green the financial system. Leaders of the region's leading banking groups, EU and Chinese green finance ambassadors, and interpreters from the European Investment Bank and the Beijing International Institute of Green Finance gave a presentation on the possibilities of lending for environmental sustainability. Foreign and domestic fund managers also discussed new types of investment opportunities with the environmental, social, and governance (ESG) aspects.

    The event was attended by a more than 250 participants, representatives of 13 countries (including Austria, the Netherlands, Poland, and Germany), central banks, and financial supervisors. The participants included EBRD, ECB, the European Investment Bank, the International Investment Bank, the Global Green Growth Institute , and the Chinese Association for Asian Financial Cooperation. The entire domestic banking system, many foreign credit institutions, credit rating agencies and, from the state side, the Office of the President of the Republic, the Ministry of Innovation and Technology, and the Budget Council were also present.

     

    Keywords: Europe, Hungary, Banks, Green Finance, NGFS, EBRD, Climate Change Risk, ESG, MNB

    Related Articles
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    News

    PBC Issues List of Systemic Banks, Adds 2 Foreign Banks to CERB List

    The China Banking and Insurance Regulatory Commission (CBIRC) published the administrative measures for internal control of wealth management companies, which come into force on the day of promulgation.

    September 09, 2022 WebPage Regulatory News
    News

    PRA Publishes Discussion Paper on Its Future Approach to Policy

    The Prudential Regulation Authority (PRA) proposed its approach to policy-making as it takes on wider rulemaking responsibilities under the Financial Services and Markets Bill.

    September 08, 2022 WebPage Regulatory News
    News

    ECB Publishes Opinion on Proposed Regulation on Data Act

    The European Central Bank (ECB) published its opinion on the proposal for a regulation on harmonized rules on fair access to and use of data (Data Act).

    September 08, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8511