Round Table “Integrating ESG Principles in Credit Institutions’ Strategies and Policies”
07/02/2025
The CBCG organised a round table on Integrating ESG Principles in Credit Institutions’ Strategies and Policies, bringing together representatives of commercial banks, the Government of Montenegro, regulators and supervisors, the academia and the Chamber of Economy to encourage dialogue on sustainable finance and strengthen ESG standards in the banking sector.
In his introductory speech, CBCG Vice-Governor Nikola Fabris pointed out that the CBCG is actively strengthening the financial sector’s resilience to climate and ESG risks by adopting strategic policies, developing risk management tools and coordinating inter-institutional activities, including research on the impact of climate and environmental risks on banking operations and the creating Financial Sector’s Sustainable Finance Roadmap.
“Integrating ESG principles into credit institutions’ strategies is a market trend and a key need to ensure long-term stability and success. Through better risk management, support for sustainable initiatives and compliance with global regulations, credit institutions can significantly contribute to sustainable development and gain competitive advantages in the market. The integration of ESG principles is not only a responsibility but also an opportunity for innovation and growth because clients, investors and society are increasingly turning to sustainable and responsible practices,” said Vice-Governor Fabris.
The Secretary General of the Association of Montenegrin Banks, Bratislav Pejaković, said that in the coming period, commercial banks would focus on key areas such as digitisation and automation, with an emphasis on sustainability and ESG and challenges related to cyber security and fraud prevention, new forms of payment systems and new ways of working in banks.
Biljana Gligorić, adviser to the Governor for applying ESG standards and innovation, spoke about the goals and status of developing the Financial Sector’s Sustainable Finance Roadmap. Moreover, the adviser to the vice-governor, Martin Bojaj, presented the research results on integrating ESG principles into strategies and management, policies and procedures, organisation and reporting of credit institutions conducted by the CBCG’s Centre for Macroeconomic and Financial Research and Forecasting.
Representatives of commercial banks, Vanja Mitrović and Veselinka Mašulović, presented their credit institutions’ activities and results in applying ESG principles in business. The representative of the Ministry of Energy, Božidar Pavlović, explained the process of certifying the energy characteristics of buildings, i.e. energy passports.
The meeting participants agreed that the concept of sustainable development at the global level is increasingly part of the strategic focus in considering the long-term perspective of development and responsibility towards future generations. They concluded that, in cooperation with other institutions and with a strategic approach and concrete activities, the financial sector could contribute significantly, set examples of responsible business, and be the bearer of development in this area.