By ANDREW MULENGA –
THE Bank of Zambia (BoZ) says it has recognized climate change shocks as an important area of supervisory as well as central banking policy focus.
BoZ Governor Denny Kalyalya said the impact of the current climate change shocks on the economy particularly through the financial system cannot be overemphasised.
Dr Kalyalya said this in a presentation delivered on his behalf by the director for financial markets, Isaac Muhanga at the just-ended National Economic summit in Lusaka.
“Central banks, BoZ inclusive are now playing an active role in promoting sustainable finance through capacity building, setting the regulatory framework, encouraging green loans and products as well as introducing climate change considerations into their monetary and financial policy mandates,” he said.
