EIB Advisory supports Albania’s national green taxonomy

The Bank of Albania has presented the green taxonomy, marking a milestone in enhancing the financial market, strengthening climate reporting, and aligning Albania with EU climate objectives.

As a national framework that defines what investments qualify as environmentally sustainable, it was developed with support from the European Investment Bank (EIB) under its Greening Financial Systems (GFS) Programme, in close cooperation with public institutions, as well as the Albanian financial sector and business community.

In her opening remarks, the First Deputy Governor of the Bank of Albania Natasha Ahmetaj commended the finalisation of the process as an important achievement, highlighting the contribution of the EIB and the inter-institutional cooperation.

“The green taxonomy,” emphasised Ahmetaj, “should be considered both as a reputational issue and an expression of willingness to support sustainability, as well as an instrument that will increasingly influence how capital is channelled towards the economy.”

The initiative provides investors, banks and businesses with a common set of rules and criteria for identifying green investments in sectors such as water and waste management, construction, transport and manufacturing.

"Today's event is an important step in developing Albania's capital market, attracting investment and making green lending business as usual," said Alessandro de Concini, Head of the EIB Representation to Albania. "It also brings the country closer to EU standards and its market, reinforcing decarbonisation, competitiveness and climate resilience."

During the event, the key elements of the third and final draft were presented, including the overall green taxonomy framework, the technical screening criteria and the legislative arrangements.

The EIB’s GFS Programme, managed by EIB Advisory, provides tailored support for central banks and financial institutions to develop and implement policies, frameworks and tools that strengthen climate risk management, scale up green finance and build long-term institutional capacity. The programme is financed by Germany and Luxembourg through the Greening Financial Systems Fund, and is implemented in close coordination with the NDC Partnership.