Sustainable finance solutions in Central and Eastern Europe

The International Sustainable Finance Centre (ISFC) hosted the first Central and Eastern Europe Sustainable Finance Summit on 17-21 May 2021, the first ever conference on the different aspects and contexts of finance and sustainability in Central and Eastern Europe. Prepared by Czech, Polish, and Hungarian organizations, among others, the online conference discussed current issues related to the green financial transition, sustainable finance, and innovative financial solutions.

On 21 May 2021, Managing Director László Örlős of Hungary’s Western Balkans Green Centre Nonprofit Llc. (WBGC), participated in a panel discussion on financing the green energy transition. With representatives of Czech, Polish and Romanian mutual fund managers and consultancy firms, the inspiring discussion covered the European Green Deal and the EU Taxonomy Regulation as well as their everyday application.

In his comment, László Örlős added that the Western Balkan countries face a great challenge to accelerate development of their economies while complying with international and EU climate and environmental standards and commitments.  He pointed out that the WBGC's portfolio includes a number of projects integrating renewable energy sources, preparing energy investments or developing government capacities and expertise, which will contribute to the green economy transition and the expansion of the economies of the countries in the region. The WBGC's activities supports the creation of regional cooperation and facilitates connectivity, which are also priorities for the green transition and the functioning of the circular economy.

The WBGC's Call for Applications for Grant Financing Opportunity for Preparatory and Capacity Building Activities Related to Climate Protection Projects in the Western Balkans Region (WBGC Programme) has been locally and domestically acknowledged as a useful tool to support the implementation of climate protection investment ideas and efforts. Preparations for the next WBGC call for applications are underway, and the call is expected to be launched by the end of H1 2021.

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Széchényi 2020