About
The NGFS is a group of central banks and supervisors that are willing, on a voluntary basis, to exchange experiences, best practice standards, and contribute to the development of environment and climate risk management in the financial sector.
To this end, the NGFS defines and promotes best practices to be implemented within and outside of the membership of the Network, and conducts analytical work on green finance.
The NGFS are aiming to make impact through the central banks and supervisors on the basis of six main workstreams and task forces:
- Supervisory workstream
- Scenario Design and Analysis workstream
- Monetary Policy workstream
- Net Zero for Central Banks workstream
- Nature-Related Risks task force
- Capacity Building and Training task force
- Adaptation task force
Who does it impact?
Central banks and supervisors that are members of the NGFS, as well as finance market, if the standards developed by NGFS are considered as market practice.
Status: Launched
The NGFS was launched at the Paris One Planet Summit on 12 December 2017.
The work is an ongoing process where central banks and supervisors exchange experiences, best practices, and contribute to the development of environment and climate risk management in the financial sector on a voluntary basis. The NGFS' most recent publications has focused on providing guidance and recommendations on how the financial sector can manage climate risks and support the transition to a sustainable economy, including a guide to climate scenario analysis for central banks and supervisors, published 13 November 2025.
Relation to other initiatives and regulations
The NGFS is linked to the Paris Agreement as it aims to strengthen the global response required to meet the goals of the Paris Agreement.
Participants
As of November 2025, NGFS consists of 148 members and 23 observers.
A list of current member central banks and supervisors can be found here.
Thommessen's comments
In our view, membership is uncontroversial and the NGFS facilitates a platform for central banks and regulators where the various elements involved in the climate risk and movement towards green finance can be reviewed.
We are of the opinion that the NGFS will contribute to catalyse the central bank and regulators' work towards pushing the financial system towards green investments and strengthen the efforts of the financial sector in achieving the goals of the Paris Agreement.
The reports published by the working group of the initiative are also tackling relevant questions for members of the financial sector. These reports may prove to be central, when the national agencies implement these strategies on a national level.