On the occasion of the COP26 Finance Day, the Bank of Italy reiterates its willingness to contribute to the global response to combat rising global temperatures and to meet the objectives of the Paris Agreement. The Bank, in carrying out its central bank functions and as an investor and supervisory authority, has long been committed to studying and publishing works on climate-related risks and sustainability. During the Italian Presidency of the G20, the Bank has played an active role in setting out an ambitious, multi-year programme for sustainable finance, which prioritizes the battle against climate change.
The attached document describes the Bank's initiatives up until now and sets out its future agenda to bridge the data gaps and to develop methodologies for analysing and managing climate-related risks.
The Bank of Italy's own pledge supports the collective commitment made today - through the Glasgow Declaration - by the Network for Greening the Financial System (NGFS), a global network of central banks and financial supervisors of which the Bank is an active participant.
