The National Bank of Georgia (NBG) continues its proactive stance in promoting sustainable finance with a recent release of comprehensive Environmental, Social, and Governance (ESG) Guidelines. In collaboration with international and local partners, these guidelines complement the NBG’s Sustainable Finance Framework, offering practical assistance to financial entities in integrating ESG factors and enhancing risk management.
This initiative aligns seamlessly with the NBG’s commitment to sustainable practices, as evidenced by its simultaneous introduction of the Financed Emissions Tool. Developed in cooperation with the German Sparkassenstiftung for International Cooperation (DSIK) Georgia, this tool calculates the environmental impact of lending activities, providing financial institutions with a systematic approach to assess and manage Financed Emissions. The integration of such tools reinforces the NBG’s dedication to fostering responsible and sustainable economic development in Georgia.
Moreover, the ESG Guidelines and the Financed Emissions Tool together create a robust framework for financial institutions. While the ESG Guidelines offer guidance on ESG integration and risk management, the Financed Emissions Tool contributes to the systematic assessment of environmental impacts, allowing financial institutions to make informed strategic decisions in alignment with global best practices. The NBG’s multifaceted approach positions Georgia as a key player in the global movement towards responsible and sustainable finance.
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