Magyar Nemzeti Bank is among the first central banks to create a dedicated green bond portfolio within its foreign exchange reserves.
We can use our financial decisions to support green objectives: over the coming years, mitigation of the negative impacts of climate change and adaptation to changes will become the most important tasks facing the international community.
In the near future, Magyar Nemzeti Bank will create a dedicated green bond portfolio within the Bank’s foreign exchange reserves in line with the recommendation of the Network for Greening the Financial System, a voluntary organisation of central banks and supervisors working on the issue.
The decision will make it one of the first central banks that recognise sustainability considerations in their reserves management policies by creating a dedicated portfolio.
The move to create the dedicated green bonds portfolio is consistent with the central bank’s social responsibility and environmental strategy objectives.
From cacti through algae and vitamin-rich flowers to drought-resistant root vegetables, Knorr and WWF have compiled a list of 50 nutritious foods whose consumption would be more advantageous for human health, while their cultivation would benefit our planet relative to our present dominant food sources.
A number of fashion designers have reacted to climate change and its consequences with their collections shown at the Paris Fashion Week.
Clean water is a great treasure, yet we waste a lot of it for no good reason: for instance, a dripping tap can waste up to 75 litres per day. It is our obligation to save water: it leaves more for others, and we can also save money.
The fashion industry is one of the most harmful for the environment: it wastes water, pollutes the air, encourages overconsumption, wastefulness and also produces massive quantities of waste. The damage caused by the monthly replacement of fast fashion collections on the shelves of fashion stores would fill a very long list. But how can we counteract it?
Most people are aware that any unnecessary calories we ingest are detrimental to our health, but few consider that food consumed in excess of our real needs – and the energy, water and other resources used for its production – is of little utility, it is practically wasted.
The textile industry is one of the most polluting industries of all: it produces microfibres and chemicals and uses huge quantities of water while making 150 billion new articles of clothing every year. The environmental load caused by the fashion industry causes inestimable damage, and the best way to counteract that is to choose clothing made of more sustainable textiles. But where are they?
Food waste is a growing problem in developed countries. Massive amounts of perfectly edible food is thrown away because of merely aesthetic blemishes. The psychological factor behind the phenomenon is disgust, which may apply in relation to edible insects, as well. That attitude ought to be reconsidered from a climate protection perspective.
In recent years, a new concept related to environmental pollution has gained wide-ranging recognition: microplastics. The term denotes pieces of plastic smaller than 5 mm resulting from the break-up of plastic items. During washing, clothing made of synthetic fibres sheds many microfibres that pollute our waters and damage our environment.
A BBC article suggests that people’s personal responsibility doesn’t stop at reducing car traffic: eating and shopping habits must also be rethought.
Pope Francis urged people to change their lifestyles and to take concrete action instead of empty words in his message communicated on the Fifth World Day of Prayer for the Care of Creation, issued to young people raising their voice for the environment on 1 September.