MNB drafts recommendations on environmental governance for banks

MNB

Photo by Adriana Iacob/Shutterstock.com

The National Bank of Hungary (MNB) is drafting recommendations on environmental governance for banks, deputy governor Csaba Kandrács said at an online conference on Wednesday, state news wire MTI reports.

Photo by Adriana Iacob/Shutterstock.com

The recommendations will be issued for social consultations within a few weeks, Kandrács said.

Only about one-third of local banks weigh risks to sustainability and climate change in their governance, while that ratio stands at three-fourths globally, he added.

Richárd Végh, the CEO of the Budapest Stock Exchange (BSE), which is majority-owned by the MNB, said the bourse launched an open consultation on achieving environmental, social and governance criteria in earnings reports on Thursday. The consultation will run until the end of January, and the BSE will issue recommendations in Q1 2021, he added.

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