The international Network for Greening the Financial System (NGFS) held its inaugural meeting in Paris last week.
The Network Members agreed upon a governance framework. The Members also discussed the focus of the programme for the coming year, including experience sharing and identification of best practices on the supervisory dimensions of climate-related and environmental risks, macrofinancial dimensions associated with these risks and options to scale up green financing.
The network comprises Finansinspektionen and seven central banks: Banco de México, Bank of England, Banque de France / Autorité de Contrôle Prudentiel et de Résolution (ACPR), De Nederlandsche Bank, Deutsche Bundesbank, Monetary Authority of Singapore and the People's Bank of China. The purpose of the network is to create a platform for dialogue and experience sharing on topics related to the link between the climate and the financial market.