Joint Expert Group on SDG financing learns sustainable development principles in banking

The JEG members representing the UN Country Team, the Ministry of Finance and Economy, the Ministry of Foreign Affairs, the Ministry of Labor and Social Protection of the Population, the Ministry of Trade and Foreign Economic Relations of Turkmenistan, the State Committee on Statistics, the Central Bank and the State Bank for Foreign Economic Affairs of Turkmenistan learned the international experience and discussed approaches to promotion of sustainability principles in banking.

The participants were briefed about the historical roots of the emergence of the sustainable development concept as well as its importance to ensure development that does not compromise the ability of future generations to meet their own needs.

Dr. Johanna Dichtl, UNEP Finance Initiative Sustainability Expert, presented principles for responsible banking. She emphasized that in order to achieve the Agenda 2030 and Sustainable Development Goals, as well as the goals of the Paris Agreement, active engagement of all stakeholders, including the banking sector of economy is very much important. In this regard, the implementation of the Principles for Responsible Banking, namely Alignment, Impact & Target Setting, Clients & Customers, Stakeholders, Governance & Culture, Transparency & Accountability, will substantively contribute to the achievement of the abovementioned global goals and tackle climate change issues.

During the seminar representatives of the Central Bank of Turkmenistan also shared the vision of the Central Bank of Turkmenistan on enhancing sustainability in the banking sector and highlighted the achievements made so far in this direction.

The learning session was organized according to the Action Plan for 2021-2022 of the Joint Expert Group on SDG Financing.