The Central Bank of Bosnia and Herzegovina (CBBiH) has taken a significant step towards enhancing its commitment to sustainable finance by becoming a member of two internationally recognized networks: the Network for Greening the Financial System (NGFS) and the Sustainable Banking and Finance Network (SBFN).
Membership in these networks will allow CBBiH to improve its business standards in central banking by adopting best practices from the international community, with a focus on environmental preservation and reducing climate risks—one of the most pressing challenges of our time.
“It is with great pleasure that I announce the Central Bank of Bosnia and Herzegovina’s membership in the Network for Greening the Financial System and the Sustainable Banking and Finance Network. This membership will enhance our ability to manage risks more effectively, through better analysis, identification, and proactive decision-making. It will ensure our contribution to a financial system that supports a sustainable economy, in line with the best practices and experiences of other central banks. CBBiH is committed to ensuring resilience to financial risks associated with climate change and to continuing the implementation of sustainable business standards, embracing the global goals set by the Paris Agreement,” said Jasmina Selimović, Governor of CBBiH.
The Network for Greening the Financial System (NGFS) consists of 141 central banks and financial regulators from both developed and developing countries, along with 21 international organizations acting as observers.
The Sustainable Banking and Finance Network (SBFN) includes 94 organizations from 72 countries, representing at least 92 percent of banking assets in developing markets.
As an equal member, CBBiH will actively contribute to the objectives and work of these networks by participating in various working groups aimed at achieving climate goals and sustainable business standards in the financial sector.
Following sustainable business standards, CBBiH has initiated the process of investing part of its foreign reserves portfolio in green bonds over the past year. The funds raised through these bonds are earmarked for financing green, socially responsible, and sustainable projects. At the same time, CBBiH is implementing best practices in resource management, digitization, and promoting awareness of environmentally friendly living and working practices, contributing to policies and activities that support conservation and sustainability.
