The Monetary Authority Organizes a Specialized Workshop to Enhance the Financial Sector's Capabilities in Sustainable Financing and Climate-Related Financial Risk Management

SadaNews - The Monetary Authority organized a specialized workshop to enhance the capabilities of the financial sector in sustainable financing and the management of climate-related financial risks, as part of the initiative to assess the knowledge gap and training needs (TNA) and build capacity in the field of sustainable financing, in collaboration with the European-Palestinian Credit Guarantee Fund (EPCGF).

Members of the Sustainable Financing Working Group at the Monetary Authority, as well as members of the Sustainable Financing Working Group for the financial sector, participated in the workshop, alongside representatives from various functions related to sustainable financing in banks and specialized lending institutions, including risk, compliance, credit, product development, data management, and reporting.

The workshop aimed to enhance the practical capabilities of the participants and enable them to integrate the principles of sustainable financing and climate-related financial risks into their work and institutional operations, contributing to enhancing the readiness of financial institutions to implement best international practices in this field and supporting their efforts in developing sustainable financial products and services.

The training program included key topics such as the fundamentals of sustainable financing, governance and institutional readiness, regulatory frameworks and taxonomies, management of climate-related financial risks, environmental, social, and governance (ESG) standards, integration of environmental and social management systems (ESMS), development of sustainable financial products, and data management and disclosure. The program included a range of practical applications and case studies that enabled participants to link the proposed concepts and tools with situations and scenarios that simulate the Palestinian reality.

This workshop is part of the capacity-building program in sustainable financing, which the Monetary Authority launched following a recent strategic meeting on "sustainable financing and climate-related financial risks," and it embodies its commitment to implementing the sustainable financing roadmap and building the institutional capacities of the Palestinian financial sector, thereby enhancing its readiness to adopt best international practices and supporting financial stability.