Banka Slovenije hosts a meeting of the Working Group on Climate Change Meeting under the Vienna Initiative

Banka Slovenije is today hosting a meeting of the Working Group on Climate Change Meeting established within the framework of the Vienna Initiative, with the aim of expanding awareness of the risks and of the financial issues related to climate change.     

Alongside Boštjan Vasle and Tina Žumer, respectively the governor and deputy governor of Banka Slovenije, the meeting is being attended (virtually) by Boris Vujčić, governor of the Croatian central bank and president of the Steering committee of the Vienna Initiative, representatives of several supervisory institutions from Central, Eastern and South-eastern Europe (CESEE), representatives of the World Bank, the European Central Bank, the Single Supervisory Mechanism, the European Bank for Reconstruction and Development, the European Commission, the European Investment Bank, the European Banking Authority and the European Financial Reporting Advisory Group, and representatives of commercial banks.

The purpose of the meeting is to examine how ready commercial banks in the region are with their risk management in connection with climate change, what the state of affairs is with regard to the inclusion of climate change in commercial banks’ business models, and what the EU directives in this area bring.

The Vienna Initiative was established in 2009 as an emergency response to the threat of an exodus by banks active in CESEE, and has now evolved to assume a permanent role in addressing challenges and risks faced by the region’s financial sector.