The National Bank of Georgia (NBG), in collaboration with the International Finance Corporation (IFC), its partner the Swiss State Secretariat for Economic Affairs SECO, and the IFC-facilitated Sustainable Banking and Finance Network (SBFN), proudly organized the fifth edition of the Sustainable Finance Forum on March 6. This prestigious event took place in Tbilisi, Georgia, attracting over 200 attendees from 15 countries worldwide.

The Forum served as a global platform bringing together senior representatives from the European Union, SBFN member countries, central banks from various regions, local financial institutions, international organizations, private and public sector representatives, universities, and other stakeholders.

Ekaterine Mikabadze, Vice Governor of the National Bank of Georgia, opened the event by highlighting the NBG's commitment to sustainable finance and the significant progress made in this domain: "Our journey in sustainable finance has been characterized by progress and collaboration. The urgency of addressing sustainability issues and the pivotal role of the financial sector in supporting sustainable development cannot be overstated. The NBG remains committed to furthering the sustainable finance framework, and today's forum offers an invaluable opportunity for sharing experiences, identifying new challenges, and collectively shaping the future of sustainable finance in Georgia."

The Forum featured insightful discussions on sustainable finance frameworks, with a particular focus on emerging countries. Key topics included the strategies of regulators and market participants in addressing ESG and climate-related risks, the role of taxonomies in supporting sustainable finance, and the importance of disclosure and transparency in the process. The private sector's perspective on challenges and opportunities arising from sustainable finance was also explored, with participants sharing future plans and projects.

Ivana Fernandes Duarte, IFC's Regional Manager for the South Caucasus, said: "Sustainable solutions need investments worth billions of dollars and the financial sector has a key role to play in attracting them. This will require well-coordinated joint efforts by central banks, ministries of finance, capital market regulators, and banking associations. The progress so far has been remarkable, but the sky is the limit, and this forum is another step forward in achieving more."

The NBG-IFC-SBFN Sustainable Finance Forum, an annual event since 2018, has evolved into a vital platform for fostering discussions on sustainable finance development in Georgia and other emerging markets. The Forum will continue to serve as a catalyst for sharing global trends and collective experiences among the 66 member countries of the SBFN.