OTP Fund Management


Bank Austria Creditanstalt

,28 September, 2004 | Budapest, Hungary On September 28, the members of the Central and Eastern European Task Force gathered for their second meeting following the kick-off meeting in May. Seven representatives of task force member institutions participated in the meeting, while further six interested institutions joined the group meeting. The meeting was kindly hosted by OTP Fund Management. A dinner for the task force and the UNEP FI Steering Committee had been sponsored the night before by Bank Austria Creditanstalt.
The meeting was dedicated to discussing the geographical scope of the task force work as well as to push forward the projects that were initiated at the kick-off meeting in Sofia. Due to huge economic differences participants agreed on forming two subgroups within the task force. One group will deal with the European Union Accession states; the other subgroup will focus on the particular needs of Russia and states of the former Soviet Union as well as the Balkans states. The task force dealt in detail with the results of the survey on “Finance & Sustainability in CEE”. The study highlighted the main fields of interest in sustainable finance among CEE financial institutions as well as drivers, barriers and experienced benefits. The outcomes of the study resulted in a work programme for 2005 that will focus on further awareness raising, environmental credit risk management and setting up a training program. As environmental credit risk was identified as the main sustainability issue by the CEE financial institutions surveyed, the task force suggested to create a web-based environmental credit risk information platform for Central and Eastern Europe.