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"Central and Eastern Europe is uniquely positioned to become a leader in green technology," according to a press release for the fourth annual Green Transition Forum, which is being held June 26-28 in Sofia, Bulgaria.
But the region still faces "substantial challenges," including regulatory barriers, funding constraints, and the need for more robust infrastructure, the release notes.
In fact, a recent report from Erste Group found that Central and Eastern Europe "appears to be underdeveloped in terms of pension fund systems, a status that places burdens on private households' budgets and public finances."
The report also found that developing the capital markets in the region would provide growth opportunities for years to come and help finance the green transition and further digitalization the region requires.
The forum's mission is to "foster dialogue, showcase best practices, and facilitate the development of the region's future sustainability roadmap," the press release notes.
Speakers at this year's forum will include Iliana Ivanova, European Commissioner for Innovation, Research, Culture, Education, and Youth; Rosen Karadimov, Minister of Innovation and Growth, Bulgaria; Svetoslava Georgieva, of the EIC Fund Board; and Jason King, CEO of Yettel.
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The Central Bank of Nigeria (CBN) released the Nigerian Sustainable Banking Principles, an agreement signed by 34 banks, including the original eight of the nation’s leading banks, that covered nine key areas: environmental and social risk management, environmental and social footprint, human rights, women’s economic empowerment, financial inclusion, environmental and social governance, capacity building, collaborative partnerships and reporting.