NBS in the New Waters of Climate Change

The climate agenda has firmly established itself at the National Bank of Slovakia, and not only because of its numerous links to the central banks’ mandate.

Our engagements in climate area

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Climate Agenda Coordination

The climate agenda is both thematically and systematically coordinated within the National Bank of Slovakia. The most important decisions are made by the Bank Board and the Climate Committee. Individual departments of the National Bank of Slovakia are also gradually integrating climate change issues into their activities. A dedicated subpage provides a more detailed overview of the activities and responsibilities of individual departments in implementing the climate agenda.

NBS Climate Strategy

The NBS Climate Strategy is the primary guiding document for the bank’s activities in the area of climate change. It addresses the question of how the bank can, within its mandate, contribute to mitigating the impact of physical and transitional risks on price and financial stability. More detailed information on the content of the Climate Strategy and the NBS’s priorities in the climate area is provided on a dedicated subpage.

Cooperation on Climate Issues Within the European System of Central Banks

Slovakia is a part of the European Monetary Union (euro area), and thus the NBS closely coordinates its decisions with the European Central Bank and the central banks of other European Monetary Union member states. The NBS’s policy priorities in the climate area are based on the ECB’s Climate Agenda and its Climate and Sustainability Plan. NBS representatives are also members of ESCB committees and participate directly in the decision-making process. An overview of the activities of individual committees related to climate issues can be found on this subpage.

Cooperation Within the Network for Greening the Financial System (NGFS)

Given its global nature, the climate agenda of central banks is also coordinated at the global level. In 2017, the Network for Greening the Financial System (NGFS) was established, bringing together central banks and financial market supervisors on a voluntary basis. The NBS became a member in November 2019. Further information on the format of participation and specific areas of cooperation is available on this subpage.

NBS Carbon Footprint

The objectives of the NBS’s environmental policy include its gradual transformation into a carbon-neutral institution, adaptation to climate change, and its integration into the circular economy concept. The NBS Carbon Footprint subpage supplements the principles that guide the NBS in implementing its environmental policy. It also provides an overview of the emissions generated by the NBS’s various areas of activity.