A recent market study conducted under the Greening Financial Systems (GFS) programme surveyed over 300 medium and large enterprises across key industries in North Macedonia to evaluate sustainability practices, climate risk exposure and green finance adoption. The findings revealed low levels of awareness about the green economy, with only 7 per cent of respondents identifying as experts and 30 per cent entirely unfamiliar with the concept. Despite these gaps, more than a quarter of participants recognised competitive advantage and revenue growth as potential benefits of adopting greener practices. Insights from interviews and focus groups are being used to design a climate risk disclosure framework for banks, expected to be finalised in 2025.
In partnership with the National Bank of the Republic of North Macedonia (NBRNM), the programme has already introduced targeted training and the Climate Risk Navigator tool. This equips the central bank to better assess climate-related risks and guide financial institutions towards alignment with international standards. According to EIB Global Representative to North Macedonia, Björn Gabriel, the initiative goes beyond technical assistance by strengthening financial resilience, fostering innovation and supporting inclusive growth.
Governor of the National Bank of North Macedonia, Trajko Slaveski, underlined that the programme marks a significant step in integrating climate and environmental risk considerations into the country’s financial system. He highlighted that technical assistance and cooperation with EIB Global are essential for building institutional capacity, enabling knowledge exchange and aligning with international best practices to ensure an effective transition to a green economy.
In addition to regulatory support, the programme is delivering tailored technical assistance to several local banks, including Komercijalna Banka, NLB Banka, ProCredit Bank and Sparkasse Bank. These efforts are aimed at embedding climate scenarios into business strategies, enabling banks to better identify green investment opportunities and advise small businesses on sustainable approaches. Launched in May 2024, the GFS programme is funded by the International Climate Initiative (IKI) on behalf of the German Federal Ministry of Economic Affairs and Climate Action (BMWK), and contributes to the NDC Partnership.
