The Head of SARAS is a Speaker at the Panel Discussion of the Sustainable Finance Forum Organized by the National Bank of Georgia and the International Finance Corporation (IFC).

Davit Mchedlidze, Head of SARAS, was a speaker at the panel discussion of the Sustainable Finance Forum of the National Bank of Georgia and the IFC-SBFN. This year’s Forum was attended by more than 200 participants from 15 countries, including high-level representatives of EU and SBFN member states and central banks, local financial institutions, international organizations, private and public sector representatives, universities and other stakeholders. The event was opened by the Vice-President of the National Bank of Georgia, Ekaterine Mikabadze. 

In his speech, the Head of SARAS focused on the reporting and disclosure of Environmental, Social and Governance (ESG) issues. He also informed the public about SARAS’ future plans, which include the translation of Sustainability Reporting Standards roadmap (EFRAG CSRS) and its publication on the SARAS website, as well as awareness campaigns at both central and national levels. 

The Forum also discussed current experiences in developing a sustainable financing framework. Participants also discussed the latest developments and challenges in this area, particularly in developing countries. Topics discussed included the management of ESG and climate-related risks by regulators and market participants, the role of taxonomies in ensuring sustainable financing, and the importance of disclosure and transparency. Discussions also covered the private sector’s perspectives on the challenges and opportunities of sustainable finance. In this context, participants shared their future plans and projects with the audience. 

As IFC’s Regional Manager for the South Caucasus, Ivana Fernandes Duarte, pointed out, sustainable solutions require billions of dollars of investment, and the financial sector has a critical role to play in attracting those investments.