STRATEGIC PLAN 2025-2027. National bank of Republic of North Macedonia

In the Strategic plan 2025-2027, National Bank emphasizes its commitment to building a sustainable and green economy and increasing awareness of climate change. Considering the financial stability, it identifies the economic and financial risks associated with global warming. This includes climate-related physical risks affecting assets and infrastructure, as well as risks arising from transition to a carbon-neutral and circular economy.

Some of the most relevant activities in the climatic field include:

• Climate-related research and its effects on the economy;
• Building and maintaining a segregated portfolio within the FX reserves with an ESG outreach, in accordance with the best international practices and standards
• Strengthening the financial system resilience to climate-related risks and stress-tests for the banking system resilience to climate risks;
• Adjustment to international trends for applying measures against adverse environmental effects and use of renewable energy sources;

Expected results include:

• Increased analytical capacity for timely identification of climate-related risks and their impact on each segment of economy;
• Identification, measurement and management of climate (ESG) related risks of the FX reserves portfolios;
• Improved banking system resilience to climate-related risks, increased capacity to underpin green transformation of economy and advanced supervisory practices to deal with climate risks;
• Improved sustainability in daily operations, accomplished sustainable development goals, increased awareness of climate change impact.