The Central Bank of the Republic of San Marino reported on its participation in the Network for Greening the Financial System (NGFS) Plenary in Pretoria on 9 and 10 March and used the European regional session to propose a reflection on biodiversity loss in the Mediterranean Sea and the potential implications for financial stability in coastal countries. The central bank linked environmental degradation, pollution and biodiversity reduction to potential economic and financial vulnerabilities, including impacts on asset values, credit quality and insurance exposures, as well as broader financial system resilience. It proposed three lines of work: strengthening analysis of the effects of Mediterranean biodiversity loss, developing dialogue with governments to identify and strengthen prevention policies, and assessing cooperation with other regional organisations, including the Union for the Mediterranean. The NGFS has 149 member central banks and supervisors, and San Marino joined in 2024.
Central Bank of San Marino 2026-03-11
Central Bank of the Republic of San Marino proposes NGFS work on Mediterranean Sea biodiversity loss and financial stability risks
The Central Bank of the Republic of San Marino highlighted its participation in the Network for Greening the Financial System Plenary, proposing a focus on biodiversity loss in the Mediterranean Sea and its financial stability implications. It emphasized the link between environmental degradation and economic vulnerabilities, suggesting enhanced analysis, government dialogue, and regional cooperation. San Marino joined the NGFS in 2024, which includes 149 member banks and supervisors.