Green Banking is a proposal to safeguard the ecosystem. Photo: www.ecologiaverde.com.
Caribbean Channel.- Cuba carries out a training and awareness process until 2025 to guarantee the success of the progressive application in the national territory of the so-called Green Banking, an initiative that is gaining popularity in Latin America.
What is the Green Banking that is promoted in Cuba?
Green Banking is committed to promoting products and services focused on biodiversity, from the incorporation of environmental risk management governed by regulations to develop green finance and banking eco-efficiency practices.
Granma
Until 2025, Cuba carries out a training and awareness process to guarantee the success of the progressive application in the national territory of the so-called Green Banking, an initiative that is gaining popularity in Latin America as its objective is to finance investments with environmental impact that help reduce the damage caused by human activities to ecosystems.
«Green Banking is committed to promoting products and services focused on biodiversity, from the incorporation of environmental risk management governed by regulations to develop green finance and banking eco-efficiency practices, promoting the mobilization of resources for such purposes. This makes it possible to reduce the existing barriers and gaps in the markets for the financing of investments with environmental impact,” declared Yanetsy Chávez Camaraza, provincial director of the Bank of Credit and Commerce (Bandec) in Matanzas to the Girón newspaper.
The application of this financial strategy seeks, among other goals, the mobilization of resources for the sustainable management of biodiversity, climate change, the rational use of natural resources and environmental quality, indicated the official.
He also highlighted that the existence of this type of Banking would favor producers or economic actors who think about these projects because they could receive advantages in interest rates or some type of guarantees.
Among the projects that can be financed with this action are those aimed at the conservation of biodiversity, the reduction of pollution, the use of natural resources such as water, land degradation and desertification; In addition, strengthening agricultural systems to contribute to food security and credits for renewable energy purposes, the newspaper indicates.
