Frankfurt School’s International Advisory Services (IAS) are cooperating with TBC Bank in Georgia to strengthen the bank’s ESG capabilities. As a leading financial institution in Georgia, TBC Bank is committed to making long-term, sustainable contribution to the country. To this end, the bank is launching the TBC ESG Academy, established with the support of the Green for Growth Fund (GGF) Technical Assistance Facility and The European Fund for Southeast Europe (EFSE) Development Facility.
On 22 February representatives of Frankfurt School and the European Investment Bank (EIB) conducted a training for the TBC board and management on climate / ESG governance issues. The capacity building session is part of the one-year project, supported by the EIB Eastern Partnership Technical Assistance Trust Fund (EPTATF).
The board-level training focused on several aspects including good governance, oversight and management of climate-related risks and opportunities, building on the framework developed by the Task Force on Climate related Financial Disclosures (TCFD) that enables stakeholders to understand carbon-related assets and their exposures to climate-related risks. The training was particularly beneficial in strategising the role of the board and management in embracing the importance of key climate-related factors as potentially important drivers of TBC Bank’s business conduct. Additionally, the session focused on presenting the main project takeaways delivered by the Frankfurt School consultant team that closely supported TBC Bank in the implementation of their climate action strategy.
Fatma Dirkes, Vice President and Director, Frankfurt School International Advisory Services: “We are pleased to have supported TBC Bank in further developing and implementing its strategy regarding climate-related risks and opportunities. Green and sustainable finance constitute a core subject of the transformation process towards a sustainable and climate-resilient global economy. Building on almost two decades of development finance experience in Georgia and the Caucasus region, Frankfurt School is committed to support leading financial institutions such as TBC Bank in elevating the importance of risks and opportunities that arise from climate change.”