DUSHANBE, Tajikistan, January 20. The National Bank of Tajikistan has joined the Network for Greening the Financial System (NGFS), Trend reports.
According to the press service of the National Bank of Tajikistan, membership in NGFS is expected to enhance awareness among financial market participants regarding climate issues and expedite the process of sustainable and green financing in the country.
NGFS is a community comprising central banks and supervisory authorities. Within this network, member countries collaborate to exchange best practices, foster the development of environmental and climate risk management within the financial sector, and mobilize funds to facilitate the transition to a sustainable economy.
More than 120 central banks, including those of countries such as the US, the UK, members of the EU, Japan, China, Georgia, and Uzbekistan, are members of this network.
The goal of this network is to identify, promote, and contribute to the development of advanced practices implemented within and beyond NGFS members. Additionally, it aims to conduct analyses on green financing. Membership in NGFS can contribute to achieving the goals of the "Green Economy Development Strategy" for 2023-2027 and accelerate the implementation of the Paris Agreement on climate change.