Sign In
Learn bits
Economy
Mahesh

30/04/21 05:25 AM IST

RBI joins network for ‘greening the financial system’

In News 

  • The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a Member.
Details 
  • The NGFS is a group of Central banks and supervisors willing to share the best practices and contribute to the development of the environment and climate risk management in the financial sector, while mobilising mainstream finance to support the transition towards a sustainable economy.
  • The System was launched at the Paris One Planet Summit on December 2017.
  • RBI expects to benefit from the membership of NGFS by learning from and contributing to global efforts on Green Finance which has assumed significance in the context of climate change.
About NGFS 

  • There are 83 central banks associated with the system. Of these 75 are members and 13 are observers.
  • The main objective of the system is to increase and accelerate green finance.
  • It was announced during the One Planet Summit held at Paris in 2017.
  • The initiative was launched by eight central banks under the leadership of Banque de France.
  • It aims to help the members design policies and climate risk resilience in financial sector.
Source- Hindubusinessline 

More Related Current Affairs View All

22 Aug

Uttarakhand State Authority for Minority Education (USAME) Bill, 2025

'The Uttarakhand Assembly on Wednesday passed the Minority Education Bill, 2025, extending minority status benefits to institutions run by the Sikh, Jain, Buddhist, Christian, and

Read More

22 Aug

India needs a national space law urgently

'A nation with a strong base in science and technology is a nation with a strong backbone” — these words of A.P.J. Abdul Kalam ring truer than before as India celebrate

Read More

22 Aug

Organ transplantation

'The National Organ and Tissue Transplant Organisation (NOTTO) recently issued a direction stating that women patients and relatives of deceased donors will receive priority in org

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps