2025 CBCG Green Award Presented
19/09/2025
On the occasion of Montenegro’s Ecological State Day, the CBCG Awarded the Green Award for 2025 today for the best academic paper on the impact of climate change on the financial system.
The commission for selecting the best paper for the 2025 Green Award decided to equally award two papers: “The Impact of the Carbon Footprint of Banks’ Credit Portfolios and the Stringency of Environmental Policies on the Non-Performing Loans Level: An Empirical Cross-Country Analysis” by Jelena Jovović, MA, and “Nature as an Ally in Montenegro's Bio-Economic and Financial Development” by Sanja Radusinović, MA.
Presenting the awards to the winners, the CBCG Governor Irena Radović highlighted that this year’s competition attracted a significant number of young researchers, confirming that “green” topics are increasingly engaging new generations and that Montenegro has rising awareness about the importance of linking knowledge, innovation and sustainable development.
“Among a large number of high-quality papers, two stood out in particular – one clearly connecting climate challenges with key issues of financial stability, and the other offering a vision in which nature becomes a partner in economic development,” the Governor highlighted.
She also said that researches like this significantly contribute to the academia and to everyone working on shaping policies and improving financial sector practices.
“The green transition is not just an environmental imperative but also a development opportunity and an economic priority with the financial sector having an exceptionally important role in the process. It is our responsibility to raise awareness that investing in green projects is not an expense but an investment in the stability, resilience and long-term competitiveness of our society and economy. The Green Award is one of the steps towards changing mindset and creating an environment where the green economy will become the foundation for Montenegro’s future growth and development,” concluded Governor Radović.
The CBCG Green Award is an initiative launched to promote a responsible approach to the climate change challenges and to encourage scientific and economic thinking in this field.