Personal Finance

National Bank will oblige financial institutions to take care of the environment

NBU is developing a policy of stable financing in Ukraine. One of the directions of the document is the impact on the environment. The regulator will oblige banks and other controlled institutions to assess the environmental impact when financing projects. This was reported by the press service National Bank.

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When selecting projects for financing, financial institutions will be required to assess their impact on the environment, stability of economic activity and energy efficiency, as well as disclose information on technical criteria and classification of economic activities, ESG indicators, on the basis of which such projects are assessed and selected.

Also, the regulator will oblige financial institutions to disclose information about how sustainable their activities are, about their impact on the environment and about reputational and financial risks arising from the impact of their activities on the environment.

The National Bank will develop recommendations on these obligations until 2023-2024.

To the subject: NBU wants to make all banks “green”