Monetary Policy Framework Enhancement
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ESG: The Government is committed to climate
action policies
The goal is to make economic growth consistent with a pathway towards low
greenhouse gas emissions and a climate-resilient economy, through macroeconomic,
fiscal and financing policies.
Creation of the Ministry of Environment (July, 2020).
The Government joined the Coalition of Finance Ministers for Climate Action (October,
2020).
The Central Bank joined the Network for Greening the Financial System (November,
2020), and announced a diversification strategy of the international reserves' portfolio
towards a green bonds' investment fund (September, 2021).
The Helsinki Principles were explicitly incorporated in the 2020-2024 Government
Budget Law, putting climate resilience at the center of the planning and design of
economic policies and fiscal management (December, 2020).
The Ministry of Industry and Energy launched the national road-map for green hydrogen
production.
The Government will launch in November 2021 its Long Term Strategy on Climate
Change, with an aspirational goal of net-zero Co2 by 2050.
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