The Central Bank of Jordan (CBJ) has joined the Network for Greening the Financial System (NGFS), a network of 100 central banks and financial supervisors that aims to accelerate the scaling up of green finance and develop recommendations for central banks’ role in climate change.
The bank, according to local media reports, said that the network is pursuing a better global response and delivery of the Paris and Glasgow climate agreements, in addition to boosting financial systems’ role in climate change management and channeling finance to low-carbon and green investments.
The network advocates the adoption of best global practices in the green financing field, raising awareness over climate change and organizing related encounters.
The CBJ’s move is part of Jordan’s response to climate change and its effort to mitigate its impact on the national economy of the kingdom, in addition to educating the banking and financing sector about its consequences, the reports said.
The CBJ is currently preparing a strategy to bolster green financing in the kingdom in partnership with the banking and financing sector as part of a broader national effort in this regard, including the Green Growth National Action Plan 2021-2025.
