On 7 February 2025, The Central Bank of Montenegro (CBCG) organized a round table on the topic of Integrating ESG principles into the strategies and policies of credit institutions, bringing together representatives of commercial banks, the Government of Montenegro, regulatory and supervisory bodies, the academic community and the Chamber of Commerce, with the aim of encouraging dialogue on sustainable finance and strengthening ESG standards in the banking sector.
In his introductory remarks, CBCG Vice-Governor Dr. Nikola Fabris pointed out that the Central Bank of Montenegro is actively strengthening the resilience of the financial sector to climate and ESG risks through the adoption of strategic policies, the development of risk management tools and the coordination of inter-institutional activities, including research on the impact of climate and environmental risks on banks’ operations and the development of the Financial Sector Roadmap to Sustainable Finance.
Vice-Governor Fabris also said: “The integration of ESG principles into the strategies of credit institutions is not only a market trend, but also a key requirement to ensure long-term stability and success. Through better risk management, support for sustainable initiatives and compliance with global regulations, credit institutions can make a significant contribution to sustainable development and achieve competitive advantages in the market. Integrating ESG principles is not only a responsibility, but also an opportunity for innovation and growth, as clients, investors and society increasingly turn to sustainable and responsible practices.”
The Secretary General of the Association of Montenegrin Banks, Bratislav Pejakovic, MSc, said that in the coming period, the focus of commercial banks will be on key areas such as digitalization and automation, with an emphasis on sustainability and ESG, as well as challenges related to cybersecurity and fraud prevention, new forms of payment systems and new ways of working in banks.
Biljana Gligoric, Advisor to the Governor for the implementation of ESG standards and innovation, spoke about the goals and status of the Financial Sector Roadmap towards sustainable finance, while Advisor to the Vice-Governor, Dr Martin Bojaj presented the results of the research on the integration of ESG principles into strategies and governance, policies and procedures, organization and reporting of credit institutions, conducted by the Centre for Macroeconomic and Financial Research and Forecasting of the CBCG.
Representatives of commercial banks, Vanja Mitrovic and Veselinka Masulovic, presented the activities and results of their credit institutions in the application of ESG principles in business. The representative of the Ministry of Energy, Bozidar Pavlovic, presented the process of certification of energy performance of buildings, i.e. energy passports.
The participants of the meeting agreed that the concept of sustainable development on a global level is increasingly becoming a part of the strategic focus in considering the long-term perspective of development and responsibility towards future generations. It was concluded that the financial sector, in cooperation with other institutions, with a strategic approach and specific activities, can not only provide