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Asian Development Bank Joins NGFS

Published on July 04, 2020
Current Context: Asian Development Bank has joined as an observer for France based Network for Greening the Financial System (NGFS).
Asian Development Bank Joins NGFS
  • Network for Greening the Financial System (NGFS) is a global forum which brings together all the central banks and supervisors around the globe and commits the to manage the financial risks and develop protection and saving opportunities with respect to climate change and environment.
  • After joining as an observer to NGFS, the Asian Development Bank will address climate risk management in the financial sector and will help in implementing climate finance targets and will provide expert assistance to support the transition of emerging Asian countries into sustainable economies.
  • ADB will fulfil the NGFS goals like tackling climate change, environmental sustainability, fostering regional co-operation and integration, building climate and disaster resilience and strengthening governance.
  • Static Part: 
    • HQ of ADB: Mandaluyong, Philippines
    • President of ADB: Masatsugu Asakawa

Question: 

Q.1 Which of the following organisation joined as an observer for France based Network for Greening the Financial System (NGFS)?
a. New Development Bank
b. Bank of America
c. International Monetary Fund
d. Asian Development Bank

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