The Governor of The National Bank, Anita Angelovska-Bezoska announces that from this year the central bank will establish a regular system for collecting more detailed data on green financing, and a survey will be conducted to answer the banks’ awareness of the risks of climate change on their portfolios and whether they plan new products that belong to green finance.
In an interview with “Marili”, the governor points out that climate change already has visible effects on the global economy, and thus on the financial sector, and that it is necessary for policy makers to pay more attention to this issue.
– The National Bank has set green finances as a strategic goal and is working on devising monetary measures to encourage them. The formation of a “green” portfolio of securities in foreign reserves is also being considered, and guidelines are planned for banks for green financing and stress testing of banks on climate change resistance, says Angelovska-Bezoska.
The governor added that based on the analysis, following the European practice, they plan to prepare guidelines for the operation of banks in the field of green finance, including transparent financing. Stress tests are planned to assess the resilience of the banking system to climate change, which will require strengthening of the institutional capacity of both the regulator and the banks.
– Also, active work is being done on devising monetary measures that will encourage green financing, and in the area of foreign reserves management, a special “green” portfolio of securities is being considered, Angelovska-Bezoska points out.
She adds that according to a survey conducted in 2021, 63 percent of central banks see green finance as part of their mandate, compared to 46 percent in 2017.
– We, as a central bank, recognizing the risks of climate change in the long run, have taken a proactive stance in society on this issue. Since March 2021, we have become part of the Green Finance Network, which includes central banks and supervisory bodies, which is already part of a platform through which we can follow them, but also to actively participate in all new international initiatives in this field. says Angelovska-Bezoska.
