MNB vice president: there is no green transition without central banks
The energy transition is one of the world’s greatest challenges and at the same time one of its greatest opportunities, which also requires a new approach from the central banks – emphasized Barnabás Virág, vice-president of the central bank of the Network for Greening the Financial System (NGFS), according to information from the Hungarian National Bank (MNB). at its London conference on Monday.
Barnabás Virág emphasized that making the operation of farms sustainable cannot be postponed any longer; the successful implementation of the transition to sustainability requires significant investments, which would also stimulate the faltering global economic growth.
He added that central banks, as actors shaping the global financial system, need to integrate environmental sustainability aspects, and drew attention to the fact that global warming increases inflation, destroys the predictability of the economic environment and causes serious social damage. The unpredictability of the climate also negatively affects the profitability of companies, which draws attention to the importance of the climate exposure of the financial system, he noted.
Related news
Viktor Orbán spoke about the extension of the margin freeze
A decision on extending the margin freeze to household and…
Read more >Six thousand people participated in the Feed Your Mind Sustainability Challenge
Nestlé for Healthier Kids and Okos Doboz’s joint educational initiative,…
Read more >Eurozone manufacturing activity improved in April, but still shows weak performance
The pace of decline in eurozone manufacturing activity slowed to…
Read more >Related news
Nestlé rolls out KitKat chocolate tablets in Romania
Nestlé has launched a new 99g KitKat chocolate tablet line…
Read more >North Macedonian Discounter Stokomak Expands To Serbia
North Macedonia’s hard discounter Stokomak has launched its first Serbian…
Read more >Barilla debuts Al Bronzo collection
Barilla has announced the return of its Al Bronzo pasta…
Read more >