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Sustainable Banking Network - SBN |
On 18 November 2020, the Association of Serbian Banks joined the Sustainable Banking Network (SBN) of the International Finance Corporation (IFC).
The Sustainable Banking Network is a unique, voluntary community of financial sector regulatory agencies and emerging market banking associations, committed to advancing sustainable finance in line with good international practice. Together with 41 member countries, it holds USD 43 trillion (86 percent) of total banking assets in emerging markets.
Cooperation starts from the banking sector, connecting associations of banks, central banks and banks through two pillars: 1) building joint initiatives, knowledge, experience and education in the field of sustainable financing and 2) improving practice in implementing ESG principles in business operations.
The characteristics and advantages of membership are:
- Focus on cooperation with the banking sector, especially in emerging markets
- Public-private partnership – initially, cooperation started first with central banks, and eventually with bank associations. Different countries have different motives, but it is always about strengthening the resilience and sustainability of the banking sector.
- Commitment to education, learning and exchange of good practice.
- Working groups - currently there are two working groups - 1. Green Bonds and 2. Data Measurement.
- Network members have direct access to IFC expertise, technical assistance, webinars.
SBN is a living network, and its goal is to support further market development through education. There is a bottom-up approach, where the involvement of new partners is stimulated, coordination is both global and regional, and there are working groups that have advisors. For example, a Roadmap for Sustainable Finance in Georgia was recently developed in this way, and regulatory infrastructure development will be the next step of the central bank.
As a partner, the ASB will seek to further promote a culture of sustainability in the banking sector through education, training, and other ways of sharing experiences and encouraging initiatives.
More at: www.ifc.org/sbn