As the first Central European participant, Magyar Nemzeti Bank joined the Network for Greening the Financial System (NGFS) in January 2019.

At the Paris “One Planet Summit” in December 2017, eight central banks and supervisors established a Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Since then, the NGFS has grown to 66 Members and 12 Observers.

The Network’s purpose is to help strengthening the global response required to meet the goals of the Paris agreement, enhance the role of the financial system to manage risks and to mobilize mainstream finance to support the transition toward a sustainable economy. The NGFS is willing, on a voluntary basis, to exchange experiences, share best practices, and to contribute to the development of environment and climate risk management in the financial sector.

In order to achieve its work program, the NGFS has structured its work into three dedicated workstreams: