The Network for Greening the Financial System (NGFS) has released a new guide which provides advice and recommendations to central banks and financial supervisors on establishing an in-house capacity building programme on climate-related and environmental knowledge. Madelena Mohamed, Co-chair of the NGFS Task Force on Capacity Building and Training and Sustainability Director at the Bank Negara Malaysia, said: “Empowering central banks and supervisors with climate and environmental capacity building is not merely an investment in knowledge – it is a commitment to deliver the mandate of safeguarding monetary and financial stability. In the face of climate and environmental challenges, equipping central banks and supervisors with the insights and tools to navigate the evolving landscape is essential for steering the economy towards a resilient and sustainable future.” The NGFS brings together 127 central banks and supervisors and 20 observers. Together, they span five continents, operate in economies that account for more than 88% of global greenhouse gas emissions and are collectively responsible for the supervision of all global systemically important banks and 80% of internationally active insurance groups.
