Finance Minister Christos Staikouras is leaving for Glasgow today to take part in tomorrow’s UN COP26 conference on promoting a “green” and sustainable economic policy to address the effects of climate change. and reduce the ecological footprint of the international financial system.
Mr. Staikouras will be one of about 20 finance ministers – members of the Alliance of Finance Ministers for Climate Action, who will take part in a closed-door meeting to coordinate actions so that financial flows are in line with the objectives of the Paris Agreement. for the climate and the climate dimension to be integrated into economic policy-making.
The meeting will also be attended by the heads of the World Bank Mr. David Malpass, of the International Monetary Fund Mrs. Kristalina Georgieva and the Network of Central Banks and Supervisors for a Green Financial System (NGFS) Mr. Frank Elderson.
The Minister of Finance will also take part, among other things, in discussions on the contribution of central banks and regulators in achieving the goal of zero emissions and in managing the risk of climate change in the financial sector, as well as in an event for the announcement of the International Sustainability Standards Board of the International Financial Reporting Standards (IFRS).
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