Featured Product

    MNB to Launch Project on Sustainable Capital Market Strategy

    June 09, 2020

    In a recent statement, MNB announced that a project to develop the strategy to facilitate greening of the capital markets in Hungary will be launched in July 2020. The comprehensive, fifteen-month initiative aims to help the capital market to finance investments in support of environmental sustainability and to allow green companies to access more favorable equity or bond funding. The project involves investment service providers, investors and other market players, ministries, and all other key stakeholders.

    The project to develop a Sustainable Capital Market Strategy, with the assistance of the European Bank for Reconstruction and Development (EBRD), is supported by the EC Directorate-General for Structural Reform Support (DG Reform). To establish the financing conditions for climate and sustainability plans, the capital market is also required to be mobilized, in addition to the banking sector. Financial instruments such as green bonds or green covered bonds may facilitate other sources of funding to be involved in environmentally friendly investments. They may offer new investment opportunities of positive ecological and social utility to investors, be it investment funds with a sustainability theme, available for the household sector or portfolios of institutional market players.

    In Hungary, only a few such sustainable investment opportunities exist. To explore these and to pinpoint and handle potential market failures, the project aims to create an enabling regulatory environment. At the end of the process, recommendations will be made to the government, MNB, and the Budapest Stock Exchange, post which an action plan will be developed containing the proposed measures. As the project continues, MNB will publish documents about strategy conception periodically.

     

    Keywords: Europe, EU, Banking, Securities, ESG, Green Program, Sustainable Finance, Climate Change Risk, MNB, EC

    Featured Experts
    Related Articles
    News

    BIS Bulletin Examines Cognitive Limits of Large Language Models

    The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.

    January 25, 2024 WebPage Regulatory News
    News

    ECB is Conducting First Cyber Risk Stress Test for Banks

    As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.

    January 24, 2024 WebPage Regulatory News
    News

    EBA Continues Momentum Toward Strengthening Prudential Rules for Banks

    A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.

    January 24, 2024 WebPage Regulatory News
    News

    EU and UK Agencies Issue Updates on Final Basel III Rules

    The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards

    December 19, 2023 WebPage Regulatory News
    News

    Industry Agency Expects Considerable Uptake for Swiss Climate Scores

    The Swiss Federal Council recently decided to further develop the Swiss Climate Scores, which it had first launched in June 2022.

    December 18, 2023 WebPage Regulatory News
    News

    BCBS Consults on Disclosure of Climate Risks, Issues Other Updates

    The Basel Committee on Banking Supervision (BCBS) launched consultation on a Pillar 3 disclosure framework for climate-related financial risks, with the comment period ending on February 29, 2024.

    December 18, 2023 WebPage Regulatory News
    News

    US Government Moves to Regulate Development and Use of AI Models

    The U.S. President Joe Biden signed an Executive Order, dated October 30, 2023, to ensure safe, secure, and trustworthy development and use of artificial intelligence (AI).

    December 18, 2023 WebPage Regulatory News
    News

    MAS Launches Gprnt Digital Platform for ESG Reporting for SMEs

    The Monetary Authority of Singapore (MAS) launched an integrated digital platform, Gprnt, also known as “Greenprint.”

    November 29, 2023 WebPage Regulatory News
    News

    EBA Finalizes Templates for One-Off Climate Risk Scenario Analysis

    The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.

    November 28, 2023 WebPage Regulatory News
    News

    NGFS Publishes Phase IV Long-term Climate Scenarios for Banks

    The Network for Greening the Financial System (NGFS) published its latest set of long-term climate macro-financial scenarios (Phase IV) for assessing forward-looking climate risks.

    November 28, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8947