A market study of over 300 medium and large enterprises in North Macedonia found that only 7 percent consider themselves green economy experts while 30 percent are completely unfamiliar with the concept, according to a press release. The survey was conducted under the Greening Financial Systems programme to assess sustainability practices and climate risk exposure. Despite low awareness levels, over a quarter of respondents saw competitive advantage and revenue growth as key benefits of moving to greener practices.
The programme is implemented with the National Bank of the Republic of North Macedonia and has delivered targeted training to financial sector officials. It introduced the Climate Risk Navigator tool that enables the central bank to assess climate-related risks and guide financial institutions toward global standards. EIB Global Representative Björn Gabriel said the programme makes a strategic investment in North Macedonia’s financial resilience by equipping regulators and banks with tools to manage climate risks.
Governor Trajko Slaveski said the programme represents a crucial step toward advancing sustainable economic growth in the country. By integrating climate and environmental risk considerations into strategic objectives, it strengthens the resilience of North Macedonia’s financial system. Technical assistance through cooperation with EIB Global plays a key role in strengthening institutional capacity and adopting best international practices for green economy transition.
Beyond regulatory support, the programme provides tailored technical assistance to four major banks including Komercijalna Banka, NLB Banka, ProCredit Bank and Sparkasse Bank. This help enables them to integrate climate scenarios into their business strategies and better identify green investment opportunities among small businesses. Banks are learning to assess climate risks and opportunities as part of their regular lending decisions.
The programme launched in May 2024 with funding from the International Climate Initiative on behalf of the German Federal Ministry of Economic Affairs and Climate Action. It contributes to the NDC Partnership’s work on climate finance readiness and greening central banks. The initiative represents part of broader efforts to help countries strengthen their financial systems for climate resilience and supports building local capacity.
