Governor’s address by Dr. György Matolcsy

Welcome to the green finance website of the Magyar Nemzeti Bank.

The sustainable catching-up of Hungary is based on sound economic theory, a synergetic institutional network and a significant pool of experts. In terms of the theoretical basis, the axioms of the previous schools are replaced by the theses of the new, long-term, sustainable economics. The green transition of the Hungarian economy requires a range of innovative incentives that reflect innovation, measurability and transparency. And all these developments cannot do without adequate human capital, so we also have a shared responsibility to develop the capacity of experts.

Green finance is a sub-area of development for sustainability, where we also need to apply the above three pillars.

The central bank's green finance vision emphasises that the new economy will be based on new resources and will build on this to achieve a new balance between market and state, and build on the deep structures underlying the economy. All these correlations can be read in detail in the global discussion paper "New Sustainable Economics", also available on this website.

We are developing a set of incentives to coordinate the activities of Hungarian economic agents, which are presented in a comprehensive way on this website, simultaneously addressing public and financial institutions, the research community, companies and households. Our sustainability efforts are based on our Green Programme, launched in 2019, which, at the launch of this website, reached a milestone on its 5th anniversary. In the spirit of transparency, I would like to emphasise that the Magyar Nemzeti Bank is also continuously striving to reduce its own ecological footprint within the framework of the programme.

Green finance goals can only be achieved if we have enough green finance experts. In response to the growing demand, we have launched a complex capacity-building programme combining university and peer education, schools’ academic competitions, support and recognition of scientific research, and scientific dissemination.

I hereby invite all our readers to join the sustainability turnaround and its revolution of ideas.