MNB to review, fine-tune green programs in 2022
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This year, the National Bank of Hungary (MNB) will review and fine-tune measures introduced in the framework of its green programs, the central bank said in a report published on Wednesday, state news wire MTI writes.
The central bank and financial market regulator has expanded preferences for lending backed by green collateral and required lenders to report on green data. It has also issued green guidance for banks and taken steps to support green financing in both the retail and corporate sectors.
In the Green Finance Report, MNB said green financial products have appeared "on all fronts", while banks have started to build sustainability considerations into their strategy and risk management processes.
With the expansion of green financial products, more data has become available, offering MNB the chance to evaluate its programs.
This year, MNB will expand further its analytical toolkit and share experience with sector players, who can add it to their risk management practices and better mobilize projects that support sustainability.
MNB said it is important for the further development of its green programs to focus on quality rather than quantity.
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