The European Investment Bank's Technical Assistance Program Has Been Implemented at Terabank. In collaboration with international experts, a climate risk management and green financing framework has been developed, aligning with both modern Western standards and the National Bank of Georgia’s sustainable reporting requirements.
The program consisted of two components. The first focused on developing a methodology for climate risk management and reporting in compliance with IFRS S2 requirements, preparing a climate transition plan, assessing climate risks and opportunities, and establishing methodologies for calculating greenhouse gas (GHG) emissions, which will serve as the foundation for Terabank’s climate business model.
The second component—the Green Financing Framework—aimed to integrate sustainable finance into the banking sector, develop an environmentally responsible lending strategy, create new green financial products, and adapt internal processes accordingly. Notably, this framework aligns with both the National Bank of Georgia’s Green Taxonomy and the EU Taxonomy, following best international practices. As part of the program, green financing strategies were developed, forming the basis for new green loan products tailored to market needs.
Additionally, Terabank employees underwent specialized training as part of the Green Financing Program. Training sessions, informational and working meetings were conducted, and educational materials were developed on climate risk management and green finance. Trainers were also prepared to support Terabank’s team in successfully integrating new processes, methods, and tools, as well as managing the climate transition process.
The Green Financing Program launched in January 2024 and lasted for 14 months. Based on the program’s results, Terabank will develop various green financial products and offer new opportunities to interested customers.
