Cbanker: Crisis management mustn’t come at expense of sustainability

Hungary’s central bank is working hard to bring inflation under control, but the management of the current crisis must not come at the expense of sustainability goals, Csaba Kandrács, the deputy governor of the National Bank of Hungary, said on Thursday.

Speaking at the central bank’s green financing conference, Kandrács called for doubling efforts to achieve green goals.

He emphasised Hungary’s commitment to a sustainable economy, noting that the central bank had been handed a green mandate by parliament.

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The bank has launched multiple programmes in the interest of sustainability, such as conducting a stress test to determine which sectors would be most affected by climate change, Kandrács said. It has also prepared recommendations for credit institutions, launched the Green Home Programme aimed at improving the energy efficiency of households and is cooperating with universities and researchers, he added.