Skopje, 2 September 2023 (MIA) - The Council of the National Bank has adopted a medium-term plan on activities in managing risks related to climate change for the 2023-2025 period.

The plan establishes a comprehensive, systematic and consistent framework for activities related to managing climate change risks, the central bank said in a press release on Saturday. 

"The effects of climate change have a global character and affect all social spheres. Climate change is an important issue for central banks because of its effects on price and financial stability. In the past few years, the National Bank has been actively working in this area, with the inclusion of green finance in its strategic goals, active membership in an international network of central banks and regulators, establishing regular data on green finance, as well as changes in monetary instruments towards supporting sustainable financing," reads the press release.

In implementing the new medium-term plan, the National Bank's activities will be aimed towards improving the current regulatory framework and adopting guidelines for banks in managing risks related to climate change.

Photo: MIA archive