Network for Greening the Financial System
International response to climate and environment-related risks
The Central Banks and Supervisors Network for Greening the Financial System (NGFS), launched at the 'Paris One Planet Summit' in December 2017, is committed to better understanding and managing the financial risks associated with climate change.
The NGFS's activities are organised into a number of work streams covering microeconomic factors as well as the macroeconomic channels through which climate change can affect the real economy and financial stability. The NGFS also aims, on a voluntary basis, to share best practice in order to protect consumers and guide asset managers seeking sustainable asset allocations.
Building on its long tradition of international cooperation, the SNB became a member of the NGFS in April 2019. The SNB's goal in joining the NGFS is to engage in dialogue and share knowledge in order to better understand - and anticipate - the potential impact of climate risks on macroeconomics and financial stability. The SNB and the Swiss Financial Market Supervisory Authority (FINMA) are both represented in the NGFS Plenary.