3 November 2021
In the context of the 2021 United Nations Climate Change Conference of the Parties (COP26), the Bank of Mauritius (Bank) has published today its pledge pertaining to climate change.
Through this pledge, the Bank, which has recently launched its Climate Change Centre, reaffirms its commitment to addressing climate change and environmental issues, and mitigating the risks they pose to the financial system. The pledge can be accessed on the Bank’s website on https://www.bom.mu/bank-mauritius-climate-change-pledge.
The Bank’s pledge runs concurrent with the release today of the Glasgow Declaration by the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), of which the Bank is a member. The Glasgow Declaration spells out the NGFS’ plan of action regarding climate change and environmental issues.
Following the publication of the pledge, Mr Harvesh Seegolam, Governor of the Bank of Mauritius, stated: “In line with its climate agenda, the Bank of Mauritius reiterates its commitment to mitigating the impact of climate-related risks on the stability and soundness of the financial system. We are determined to actively pursue our efforts by leveraging our recently-launched Climate Change Centre.”
About the Network of Central Banks and Supervisors for Greening the Financial System
The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) is a group of Central Banks and Supervisors willing, on a voluntary basis, to share best practices and contribute to the development of environment and climate risk management in the financial sector, and to mobilize mainstream finance to support the transition toward a sustainable economy. Its purpose is to help strengthening the global response required to meet the goals of the Paris agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development. To this end, the NGFS defines and promotes best practices to be implemented within and outside of the Membership of the NGFS and conducts or commissions analytical work on green finance.
Link to the NGFS Glasgow Declaration: https://www.ngfs.net/sites/default/files/medias/documents/ngfsglasgowdeclaration.pdf
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