On 25 April 2023, the Closing Event on sustainable financing project called “Reorient Croatian Development Bank’s (HBOR) Operations Towards Sustainable Financing and Green Transition” took place in Zagreb
With the project that started in 2021, HBOR has initiated a systematic adjustment to the requirements of the sustainability and sustainable financing regulations.
The project was carried out with funding by the European Union via the Technical Support Instrument, in cooperation with the Directorate-General for Structural Reform Support of the European Commission.
The project objective is to support HBOR in understanding environmental, climate and social risks and their implications on business as well as to ensure the development and implementation of a comprehensive set of sustainable finance policies, procedures, tools and metrics.
The closing event was attended by the Management Board of HBOR, representatives of the management and the HBOR project team, representatives of an international consulting team composed of the Frankfurt School of Finance and Management, Germany, TRINOMICS, the Netherlands, and EKONERG, Croatia, and a representative of the European Commission.
At the event, the activities carried out throughout the 20-month long assignment were presented, as well as the delivered tools and lessons learnt from the project, through which HBOR’s capacities to support the green transition of Croatia and the EU have been strengthened. In addition, the main themes of implementation activities were presented: allocation analysis, climate risk integration, building data infrastructure for sustainability disclosures, adopting the Sustainable Finance Framework and Strategy, as well as continuous capacity building.
HBOR continues to contribute to Croatia’s transition towards a low-carbon economy and build up its internal technical and financial capacities for sustainable investments, while at the same time aligning with the upcoming sustainability disclosures requirements.