Banco de Portugal published today its commitment to sustainability and sustainable finance.

This document, approved by the Board of Directors, sets out the priorities of Banco de Portugal to address the challenges of sustainability and sustainable finance, in particular climate change. 

The commitment sets out priorities for Banco de Portugal’s conduct within its mandate of price stability, financial stability and economic advice, as well as in terms of its internal management.

In it, Banco de Portugal defines as key areas identifying and assessing climate-related risks, implementing internal sustainability practices, participating in national and international fora where measures with a potential impact on the financial system are discussed, and establishing partnerships and communicating on these issues.

The document also provides a background on this issue, an analysis of the approach taken by central banks and supervisory authorities and a review of the work undertaken so far by Banco de Portugal.