Green and sustainable finance—broadly defined as financial tools that support activities that address climate change and other environmental and social challenges—plays a critical role in realizing the UN Sustainable
Development Goals (SDGs) and the Paris Agreement’s target of limiting global warming to 1.5 degrees Celsius. Such funding comes from the public and private sectors, including international financial institutions, central banks and financial regulators, banks and institutional investors. Among depository institutions, the financing of environmentally friendly projects has been dubbed ‘green banking.”
The Central Bank of Egypt (CBE) issued guidelines for sustainable financing in Egypt’s banking sector in July 2021, based on six principles: building the necessary capabilities and knowledge, enhancing sustainable finance, involving stakeholders, managing climate change risks, applying sustainability principles to internal activities and operations, and reporting.
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