The Central Bank of the Republic of San Marino (CBSM) reported on its participation in the Network for Greening the Financial System (NGFS) plenary in Pretoria on 9 and 10 March, where it raised biodiversity loss in the Mediterranean Sea as a potential financial stability issue for coastal countries and proposed further work within the NGFS. CBSM highlighted how environmental degradation, pollution and biodiversity reduction could translate into economic and financial vulnerabilities, with impacts on asset values, credit quality, insurance exposure and overall financial system resilience. It proposed three lines of reflection in the European regional session: strengthening analysis of the effects of Mediterranean biodiversity loss, developing dialogue with governments to support prevention policies, and exploring cooperation with regional bodies including the Union for the Mediterranean. The update also noted that the NGFS has 149 members and that CBSM joined the network in 2024.
Central Bank of San Marino 2026-03-11
Central Bank of the Republic of San Marino proposes NGFS work on Mediterranean biodiversity loss and financial stability
The Central Bank of the Republic of San Marino (CBSM) participated in the Network for Greening the Financial System plenary, highlighting biodiversity loss in the Mediterranean Sea as a potential financial stability issue. CBSM proposed strengthening analysis, developing government dialogue for prevention policies, and exploring cooperation with regional bodies. The NGFS has 149 members, with CBSM joining in 2024.