The National Bank is working on a “White Paper” with recommendations for the implementation of ESG standards

The National Bank of Ukraine (NBU) is developing a “White Book” with recommendations for the banking system regarding the implementation of ESG (Environmental Social Governance) standards. About this reported Kateryna Rozhkova, first deputy head of the NBU.

“We have approved the concept of implementing these standards in the banking sector. We are currently working on the “White Paper” and have promised banks already this year to present thorough methodological recommendations on the integration of ESG into all banking policies, and not only into risk assessment. ESG is not only about carbon emissions and the “green” transition, but also about social standards“, Rozhkova noted.

According to her, first the NBU will work with banks, and later it will promote the implementation of ESG standards in the non-banking financial sector, in particular, in insurance companies.

“These are the principles of sustainable development. In fact, the whole of Europe already lives by them, so we need to move in this direction.” – she emphasized.