CBJ joins network for greening financial system

AMMAN — The Central Bank of Jordan (CBJ) has joined the Network for Greening the Financial System, a network of 100 central banks and financial supervisors that aim to accelerate "green finance" and develop recommendations for central banks' role in combating climate change.

The CBJ said in a statement on Wednesday, cited by the Jordan News Agency, Petra, that the network is pursuing a better global response and delivery of the Paris and Glasgow climate agreements, in addition to boosting financial systems' role in climate change management and channeling finance to low-carbon and green investments.

The network is advocating for the adoption of the best global practices in the green financing field and raising awareness over climate change.

The CBJ's move is part of Jordan's response to climate change and its effort to mitigate its impact on the Kingdom’s national economy, in addition to raising the banking and financing sector’s awareness about its repercussions.

The CBJ is currently preparing a strategy to bolster green financing in the Kingdom in partnership with the banking and financing sector, as part of a broader national effort in this regard, including the Green Growth National Action Plan 2021-2025 (GG-NAP).