TIRANA, Oct 23 /ATA/ The Bank of Albania, in partnership with the European Investment Bank (EIB), organized the thematic workshop “National Green Taxonomy: Principles, Governance, and Interoperability with EU Standards,” as part of the Technical Assistance Program for Green Financial Systems.

The Green Taxonomy is a classification framework that determines which investment options are environmentally sustainable.

Natasha Ahmetaj, the Second Deputy Governor of the Bank of Albania, highlighted that developing the national Green Taxonomy is part of the integration efforts the Bank of Albania is undertaking, in line with the commitments outlined in Chapter 9, “Financial Services.”

According to her, this development marks a new step towards fully harmonizing the Albanian financial system with European standards.

“The drafting of the Green Taxonomy for Albania provides a crucial tool for directing capital towards investments with positive environmental and climate impact. It goes beyond an institutional obligation or technical formality, becoming a real opportunity for the sustainable transformation of the economy in line with national objectives, as well as the protection of the financial sector,” she emphasized.

The European Investment Bank’s representative in Albania, Alessandro De Concini, praised the close cooperation with the Bank of Albania and the tangible results achieved so far.

“The Bank of Albania has taken significant steps in building a comprehensive green finance agenda through the implementation of its Green Strategy, the publication of guidelines for banks on managing climate-related risks, the development of a stress test on transition risks, and the initiative to establish an ESG Committee — a practice aligned with international best standards,” he emphasized.

The workshop addressed the governance framework of the taxonomy, the principles and criteria for identifying and developing economic sectors, as well as methods for incorporating climate adaptation components.

The event represents another milestone in advancing the green transition of Albania’s financial system, reaffirming the Bank of Albania’s leadership in promoting sustainable policies, integrating climate-related risks into financial markets, and aligning with EU standards for green finance.

/sm/