The Central Banks and Supervisors Network for Greening the Financial System (NGFS) has been joined by the Asian Development Bank (ADB) as an observer. ADB has joined the network to fulfil its corporate strategy “the Strategy 2030” goals such as building climate and disaster resilience, enhancing environmental sustainability, fostering regional cooperation and integration, tackling climate change, and strengthening governance and institutional capacity.
With this, ADB has joined the ranks of the International Monetary Fund, the Organisation for Economic Co-operation and Development, World Bank and the International Finance Corporation as NGFS observers. Network for Greening the Financial System is a group of central banks and supervisors who are inclined to share best practices and contribute to the development of environment and climate risk management in the financial sector.
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