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Region:

Eastern Europe

SBN Member:

National Bank of Georgia

Year of joining:

2017

Framework:

Roadmap for Sustainable Finance in Georgia (NBG, 2019)

Corporate Governance Code for Commercial Banks (NBG, 2018)

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PILLARS
Indicators for global benchmarking of sustainable finance
STRATEGIC ALIGNMENT Alignment with global E&S standards and best market practices
  • Alignment with global E&S standards and best market practices

    Questions

    Does the framework make reference to international E&S targets (SDGs, Paris Agreement, Global Compact)?

    Does the framework make reference to established international E&S risk management standards (IFC PSs, EPs)?

    Does the framework make reference to established international sustainability reporting standards (GRI, SASB)?

    Does the framework make reference to established international climate finance reporting standards (TCFD)?

    Does the framework ask to make E&S policies, practices and results externally verified (assurance, independent review)?

    Answer Source Reference
    • (1) - Global Development in Sustainable Finance - p.3

    • (1) - ESG Risk Management - p.10

    • (1) - Transparency and market Discipline - p.11

    • (1) - Transparency and market Discipline - p.11

    • N/A

Source Reference
(1) - Global Development in Sustainable Finance - p.3

- To achieve a better and more sustainable future for all, in 2015 countries from around the world agreed to adopt UN Agenda for Sustainable Development and the Paris Agreement on Climate Change. The UN 2030 Agenda has at its core 17 Sustainable Development Goals (SDGs). Georgia is a part of both initiatives.

Roadmap for Sustainable Finance in Georgia (NBG, 2019)Download

Source Reference
(1) - ESG Risk Management - p.10

There has been growing global convergence of ESG risk management standards among public and private financial institutions in the past decade, including IFC’s Performance Standards and the Equator Principles which reference them

Roadmap for Sustainable Finance in Georgia (NBG, 2019)Download

Source Reference
(1) - Transparency and market Discipline - p.11

Those principles are being created based on different international standards on sustainability disclosure, such as: Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), UN Principles for Responsible Investment (PRI) Reporting Framework 2018, Global Reporting Initiative (GRI), etc

Roadmap for Sustainable Finance in Georgia (NBG, 2019)Download

Source Reference
(1) - Transparency and market Discipline - p.11

Those principles are being created based on different international standards on sustainability disclosure, such as: Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), UN Principles for Responsible Investment (PRI) Reporting Framework 2018, Global Reporting Initiative (GRI), etc

Roadmap for Sustainable Finance in Georgia (NBG, 2019)Download

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