9 April 2019
Danmarks Nationalbank has become a member of the Network for Greening the Financial System, NGFS, a group of central banks and supervisory authorities.
On a voluntary basis, the NGFS exchanges experience and contributes to the development of risk management in relation to environmental and climate risks in the financial sector. The NGFS was established in December 2017 and now has 34 members and six observers across five continents.
"Climate change is global and transcends borders so it is natural that we work together internationally. It is not the task of central banks to provide solutions to climate challenges, but given our objective of ensuring financial stability in Denmark, we also have to consider the climate-related risks that may affect the financial system and the economy overall," says Governor Lars Rohde, Danmarks Nationalbank.
The work of the NGFS takes place in various workstreams and Danmarks Nationalbank expects to participate in the macrofinancial workstream. Analysing climate-related risks to the economy and assessing the consequences for the financial sector is in keeping with Danmarks Nationalbank's task of ensuring a robust economy in Denmark, including its financial stability objective.
Enquiries can be directed to press advicer Ole Mikkelsen on tel. +45 3363 6027.