MONROVIA – The Central Bank of Liberia (CBL) has been admitted as a Plenary Member of the Network for Greening the Financial System (NGFS), in a move described as a major breakthrough for Liberia’s climate-responsive financial reforms and sustainable development agenda.
According to a release issued by the Central Bank, the decision was unanimously approved by NGFS members on April 10, 2026, in line with Article 7 of the organization’s Charter governing plenary membership.
The NGFS was established during the One Planet Summit held in Paris in December 2017 by a coalition of central banks and financial supervisors seeking to strengthen the role of financial institutions in addressing climate-related risks while supporting environmentally sustainable economic growth.
Since its establishment, the network has expanded into a major global platform with more than 171 members and observers worldwide. The organization promotes the exchange of best practices, supports research on climate and financial risks, and encourages the integration of climate and environmental considerations into financial regulation and policymaking.
Liberia’s admission into the network is expected to deepen the country’s collaboration with international financial institutions and development partners while strengthening the CBL’s institutional capacity to address climate-related risks within the financial sector.
The release noted that membership in the NGFS will enhance the Central Bank’s ability to integrate environmental and climate-risk considerations into critical functions, including financial stability oversight, banking supervision, monetary policy implementation, and institutional planning.
The development also aligns with the CBL’s broader reform efforts aimed at modernizing Liberia’s financial system and strengthening resilience against emerging global economic and environmental challenges.
As part of those reforms, the Bank has already conducted a national assessment of climate-related issues affecting the financial sector and developed an implementation roadmap. Joining global platforms such as the NGFS was identified as a key recommendation under that strategy.
The release further stated that the Executive Governor and members of the Board of Governors of the Central Bank welcomed Liberia’s admission into the network and expressed appreciation to the NGFS leadership and membership for accepting the country as a plenary member.
They reaffirmed the Bank’s commitment to advancing sound climate policies, promoting sustainable finance, and strengthening cooperation and knowledge-sharing within the global financial community.
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