The Croatian National Bank has adopted the Climate Strategy for the period from 2024 to 2026, which defines the objectives and priorities in the field of adjustment to and mitigation of climate change. The inclusion of climate issues in the work of the CNB is based on its legal mandate and objectives defined in the Treaty on the Functioning of the European Union and the Paris Agreement.

We are publishing our climate strategy at the time of the United Nations Climate Change Conference COP 28, which, among other things, takes stock of progress towards the goals of the Paris Agreement and the financing of a sustainable future. Like other central banks of the Eurosystem and as a member of the Network for Greening Financial Systems (NGFS), the CNB recognises and accepts its role in addressing this global problem.

Already earlier, with its climate declaration, the CNB decided to make commitments, within its mandate, to fight climate change, and the strategy defines and presents a long-term vision. By adopting it, we mainstream climate and environmental considerations into all areas of our action and identify and manage the risks to price and financial stability associated with climate change, while supporting the transition to a low-carbon economy. In addition, we undertake and coordinate internal activities related to climate change and achieving our own climate neutrality.

The main objectives and priorities for the next three-year period set out in the climate strategy are to understand climate risks to price and financial stability, to integrate climate risks into the supervision of credit institutions and financial stability, to support the transition towards a low-carbon economy, to reduce its own carbon footprint and to support climate change-related activities.

The climate strategy, which also contains an action plan, presents in detail the plans and measures related to climate change that the CNB intends to take.