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MNB Presents Biodiversity Loss Project Results at Conference

MNB

Photo by Adriana Iacob/Shutterstock.com

The National Bank of Hungary (MNB) presented the results of a nearly two-year long, European Union-funded project to assess financial risks resulting from biodiversity loss and develop a set of financial supervisory tools to address them at a conference on Friday, according to a report by state news wire MTI.

The Organisation for Economic Co-operation and Development (OECD) was a partner in the project undertaken with the cooperation of the European Commission's Directorate-General for Structural Reform Support.

The hybrid conference, entitled "Technical Implementation of the Supervisory Framework for Assessing Nature-related Financial Risks to the Hungarian financial sector", was attended by 150 participants from 34 countries, including representatives of the EC, the European Central Bank, the European Banking Authority and oversight authorities.

The framework will be published on June 30.

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