February 27, 2024 – The Sustainable Banking and Finance Network (SBFN) welcomes the Bank of Albania as its newest member.
The Bank of Albania has demonstrated significant commitment and tangible progress in fostering a conducive environment for sustainable finance. This includes the development and approval of the Green Medium-Term Strategy 2023-2025 for “Management and Supervision of Climate–related Financial Risks in the Financial Sector”, which outlines a comprehensive action plan focusing on capacity building, research, risk assessment, and the promotion of international and local cooperation in the realm of sustainable finance.
Governor of the Bank of Albania, Mr. Gent Sejko, expressed his enthusiasm for joining the SBFN: “As the Governor of the Bank of Albania, I am proud to announce our membership in the Sustainable Banking and Finance Network. Our commitment to sustainable finance is reflected in our recently approved ‘Strategy for the Management of Financial Risks related to Climate Change, 2023-2025.’ This partnership with the SBFN reinforces our dedication to collaboration, knowledge sharing, and driving progress towards a more sustainable and resilient financial system in the face of climate change challenges.”
Rong Zhang, SBFN Global Coordinator, warmly welcomed the Bank of Albania to the network: “SBFN wholeheartedly welcomes BOA as its newest member. We look forward to working with BOA to create an enabling environment that facilitates the management of ESG risks and performance in the financial sector, and develop innovative products to encourage the capital flow to sectors and activities that achieve environmental and social objectives. Together, we aim to effectively address the challenges of sustainable finance and support the transition towards a sustainable economy”.
BOA’s membership expands SBFN to 89 members in 68 countries.