BAKU, Azerbaijan, September 8. Under the
Greening Financial Systems (GFS) programme, a market study surveyed
over 300 medium and large enterprises across key industries in
North Macedonia to assess sustainability practices, climate risk
exposure and green finance uptake, Trend reports via the EIB’s latest reports.
The survey revealed insufficient levels of awareness about the
green economy: only 7 percent identified as experts, while 30
percent were entirely unfamiliar with the concept. Despite this
gap, over a quarter of respondents saw competitive advantage and
revenue growth as key benefits of transitioning to greener
practices. Insights from interviews and focus groups are informing
the development of a climate risk disclosure framework for banks,
expected to be finalised later in 2025.
Implemented in partnership with the National Bank of the
Republic of North Macedonia (NBRNM), the programme has delivered
targeted training and introduced the Climate Risk Navigator tool,
enabling the central bank to assess climate-related risks and guide
financial institutions in aligning with global standards.
“The GFS programme goes beyond technical assistance; it’s a
strategic investment in North Macedonia’s financial resilience. By
assessing market conditions and equipping regulators and banks with
tailored tools to manage climate risks, it fosters innovation,
investment and inclusive growth,” said EIB Global Representative to
North Macedonia Björn Gabriel.
Governor of the National Bank of North Macedonia Trajko Slaveski
emphasised that the programme represents a crucial step toward
advancing sustainable economic growth. By integrating climate and
environmental risk considerations into strategic objectives, it
strengthens the resilience and long-term stability of the country’s
financial system.
“Technical assistance through our cooperation with EIB Global
plays a pivotal role in strengthening institutional capacity,
fostering knowledge exchange and adopting best international
practices. This support is instrumental in enabling an effective
transition to a green economy and ensuring preparedness for the
challenges that lie ahead,” said Governor Slaveski.
Beyond regulatory support, tailored technical assistance is
being provided to Komercijalna Banka, NLB Banka, ProCredit Bank and
Sparkasse Bank to help integrate climate scenarios into their
business strategies. These efforts ensure that financial
institutions are better positioned to identify green investment
opportunities among small businesses and advise them on sustainable
business strategies. Launched in May 2024, the programme is funded
by the International Climate Initiative (IKI) on behalf of the
German Federal Ministry of Economic Affairs and Climate Action
(BMWK), while contributing to the NDC Partnership.