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Network For Greening Financial System

Topics Covered: Important International institutions, agencies and fora, their structure, mandate.

Network For Greening Financial System:


Context:

The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a member.

About NGFS:

  • Launched at the Paris One Planet Summit on December 12, 2017.
  • It is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector.
  • It also seeks to mobilise mainstream finance to support the transition towards a sustainable economy.
  • Composition: Includes central banks and financial supervisors.
  • Secretariat is hosted by the Banque de France.

InstaLinks:

Prelims Link:

  1. About NGFS.
  2. Composition.
  3. Objectives.
  4. Functions.
  5. Members.

Mains Link:

Write a note on NGFS.

Sources: ET.