Green and Sustainable Finances – Introducing the MNB’s Green Program
PrintGreen and Sustainable Finances – Introducing the MNB’s Green Program
Purpose of the seminar
In 2019 the MNB launched its Green Program. The program’s objectives are the mitigation of risks associated with climate change and other adverse environmental phenomena, promotion of green finance in Hungary, knowledge sharing, capacity building and the reduction of the MNB’s own carbon footprint. Subsequently, MNB received an explicit sustainability mandate from the legislator: in 2021 the MNB’s objectives were complemented with the goal of supporting the government’s sustainability-related policies as long as it does not compromise the price and financial stability mandates. In order to deliver on this mandate, a Green Monetary Policy Toolkit Strategy was formulated in addition to the Green Program. Within these strategic frameworks, the MNB has taken several sustainability-related policy measures both in its monetary and supervisory activities, many of which are unique in Europe and beyond. This seminar will provide a comprehensive overview and deep dives into the sustainability aspects of the MNB's operations, ranging from carbon footprint reduction to climate stress tests. The audience will have the chance to interact with seasoned professionals possessing not only theoretical knowledge but also practical experience as well.
Contents/ Main topics to be discussed
- International overview of central banks’ and supervisory entities’ approach to climate and environmental risks
- Introduction to the MNB's Green Program
- The MNB’s Green Monetary Policy Toolkit
- Green mortgage lending
- Climate risk analyses, climate stress tests
- Sustainability aspects in MNB's macro and microprudential supervision
- ESG risk management
- Biodiversity risk management
- MNB's Green Preferential Capital Requirements Program
- Supervising green investment products
- MNB's initiatives for carbon footprint reduction and offsetting
Target group
Staff of central banks and supervisory authorities with an interest in environmental risks and green finance.