CBSM's commitment

The Central Bank of the Republic of San Marino is actively committed to fight against climate change by adopting sustainable choices in several areas.

In particular, work has begun on the establishment of a special internal committee to oversee these issues, chaired by the Chairman of the Board of Directors and composed of representatives from the Board of Statutory Auditors, the Directorate General, and the Bank staff.

The main task of this Committee is to develop and adopt a strategic plan to identify and implement changes that the CBSM can make to contribute to the fight against climate change and promote sustainable finance.

In addition, as part of the Association process with the European Union, the EU ESG provisions will be incorporated into the Financial Services Regulation (adopting the MIFID II Directive) and the Insurance Distribution Regulation (IDD Directive).

Measures have been planned and implemented to reduce CBSM's environmental impact (the so-called "ecological footprint") through the digitalization of document processes, reduction of waste and plastic use, as well as infrastructural interventions to optimize the use of energy resources.