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Bank of Mauritius joins Network of Central Banks and Supervisors for Greening the Financial System

July 30, 2020

The Bank of Mauritius has become a member of the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), with request for membership being unanimously approved by all NGFS members.

The NGFS is a platform that promotes the sharing of experience and best practices among central banks and supervisors to address climate risk management. The Network also enables its members to work together for a green and sustainable financial system. For the Bank of Mauritius, this membership translates its focus on sustainable development and on embedding the concept of a greener banking sector in Mauritius.

Reflecting on this new membership, Governor Harvesh Seegolam stated: ''In line with the United Nations Sustainable Development Goals and the Paris agreement, the Bank of Mauritius is committed to further integrating the climate agenda into its banking sector transformation strategy.''

Comprising 66 members and 13 observers, the NGFS has been instrumental in strengthening the role of central banks across the world to manage climate-related risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development. Since its setting up in 2017, the Banque de France serves as the Secretariat of the Network.

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