Podgorica, (MINA-BUSINESS) – The Central Bank (CBCG) will take part tomorrow in the Earth Hour initiative, a global event during which individuals and organizations switch off lights for one hour in order to raise awareness about climate change and sustainability.

“As part of this initiative, CBCG will temporarily switch off part of the lighting in its offices for 60 minutes. This symbolic activity aims to highlight the importance of efficient energy consumption and further encourage awareness of our shared responsibility in building a sustainable future,” the CBCG said in a press release.

CBCG stated that, in the context of increasing challenges posed by climate change, as well as growing expectations for institutions to take a proactive and responsible role in shaping a sustainable future, the Central has clearly defined its strategic direction – focused on sustainability, transparency, and innovation.

“Starting from the importance of leading by example, CBCG has launched a series of activities aimed at reducing its own environmental footprint. In this context, CBCG became the first central bank in Europe, as well as the first institution in Montenegro, to be awarded the Zero Waste Business certificate, further confirming its commitment to integrating the principles of sustainable development into its operations and institutional policies,” the press release reads.

CBCG is also committed to promoting a science-based approach to sustainable finance, as well as encouraging responsible economic thinking. To that end, an annual Green Award has been established for the best research paper dealing with the impact of climate change on the financial system. 

“Through active membership in the Network for Greening the Financial System (NGFS) and the Sustainable Banking and Finance Network (SBFN), coordinated by the International Finance Corporation (IFC) within the World Bank Group, CBCG ensures continuous alignment with modern global trends and best regulatory practices in the field of sustainable finance,” the press release concludes.