National Bank of Serbia Governor Jorgovanka Tabaković addressed the Network for Greening the Financial System (NGFS) Annual Plenary Meeting in Amsterdam, calling for climate goals that are ambitious but realistic and achievable, and for coordinated action by all institutions and market participants to manage climate risks. She argued that progress since the Paris climate conference has been slower than intended, and that goals should be communicated in a professional, clear and simple way to secure broad support, including from industries that may face short-term losses but medium- and long-term gains. Tabaković highlighted the negative effects of climate change on economic growth, employment, wages, inflation and citizens’ purchasing power, and stressed that sustainable results in climate risk management depend on involvement across the financial system and beyond. The NGFS Chair, Sabine Mauderer of the Deutsche Bundesbank Executive Board, highlighted the importance of a strong voice from Eastern and Southeastern Europe.
National Bank of Serbia 2025-09-03
National Bank of Serbia Governor urges realistic climate goals and broad participation in climate risk management at NGFS plenary
National Bank of Serbia Governor Jorgovanka Tabaković, at the NGFS Annual Plenary Meeting, emphasized ambitious yet realistic climate goals and coordinated action to manage climate risks. She noted slow progress since the Paris climate conference and stressed clear communication for broad support. Tabaković highlighted climate change's adverse impacts on economic growth, employment, and inflation.