The primary role of central banks is to maintain price and financial stability. However, climate change, associated physical and transitory risks, and biodiversity loss affect prices, asset values, and ultimately the stability of the financial system as a whole through various channels. Since these impacts directly affect our mandate, it is important that we understand and systematically analyze them. Only then can we establish procedures to best fulfill our key functions in the face of climate change, pursuing the stability target in general public interest.

Central banks’ activities in the field of climate change are determined by their mandates. Their primary role is hence to minimize the potential negative impacts of physical and transitory risks on price and financial stability. In doing so, they use tools and procedures that are described in more detail on the subpages Monetary Policy and Climate Change and Financial Stability and Climate Change. When managing their own investment reserves, central banks may prioritize  purchase of securities from issuers with lower carbon intensity. By optimizing organizational and operational procedures, they strive to reduce their own carbon footprint. However, central banks do not have power to make commitments to reduce emissions at the national level. The key responsibilities for mitigating the effects of climate change lie on the executive and legislative powers.

Since 2022, the NBS has been preparing and publishing  annual Climate-Related Disclosures on the National Bank of Slovakia’s Non-Monetary Policy Portfolios. The scope of reporting has been expanding gradually. The latest published report includes the following indicators: weighted average carbon intensity, total carbon emissions, and carbon footprint for non-monetary policy portfolios denominated in both euros and foreign currencies. Apart from that, the NBS also reports the share of green, social, and sustainable bonds in its portfolio.

The NBS’s long-term goal is to achieve a sustainable operational model. To fulfil this target, it is gradually reducing greenhouse gas emissions from its operations and offsetting residual emissions by supporting carbon sequestration projects (the process of long-term capture of CO2 from the atmosphere and its storage in ecosystems, the world’s oceans, soil, or in special reservoirs). It also ensures the rational use of energy resources. In 2025, the NBS fleet was expanded to include 1 electric vehicle and 2 hybrid vehicles. Several measures were also implemented to improve the building’s thermal insulation and increase its energy efficiency. More detailed information on the NBS’s carbon footprint is available on a dedicated subpage.

A comprehensive overview of NBS publications addressing the issue of climate change can be found on the subpage Climate-Related Research Publications.