MNB Updates Green Recommendation
Image by posztos / Shutterstock.com
The National Bank of Hungary (MNB) on Friday announced the issue of an update to its supervisory recommendation for lenders on climate-related and environmental risks, according to a report by state news wire MTI.
The recommendation, updated to reflect changes to European Union rules as well as market feedback, outlines more specific expectations and clearer goals related to making local banking operations more sustainable.
The recommendation also establishes a compliance timeline with deadlines in September 2022, July 2023, and January 2025.
The recommendation extends to lending policies, which should be sustainable from the environmental aspect and contain targets and standards.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.