Mauderer steps up as new NGFS chair with ‘ambitious agenda’

February 8, 2024|Written by |Network for Greening the Financial System

Sabine Mauderer has taken office as the new chair of the Network for Greening the Financial System (NGFS), with Fundi Tshazibana becoming vice-chair.

Mauderer, executive board member of the Deutsche Bundesbank and previous NGFS vice chair, has replaced Ravi Menon after his two-year stint as head. Tshazibana – deputy governor of the South African Reserve Bank (Sarb) and chief executive officer of South Africa’s Prudential Authority – will take over Mauderer’s previous role.

Both appointments are for two-year terms, starting last month.

Mauderer has served as chair of the group’s workstream on scaling up green finance. She has also spoken on the need for central banks to address nature-related financial risks and strengthen international efforts to foster price and financial stability.

Mauderer said she looks forward to working closely with Tshazibana and the NGFS membership to “push ahead with our ambitious agenda”, and thanked Menon for his “outstanding work”.

Adapting to climate change is one of the “great tasks and challenges” that lies ahead of the global community, said the new chair, and the NGFS plans to “intensify its work” to scale adaptation finance, she said.

As chief executive of the Sarb’s prudential authority, Tshazibana has advanced prudential oversight of climate risks. She also previously served as an alternate executive director for the International Monetary Fund’s executive board, as well as an analyst for South Africa’s national energy regulator.

“Sabine and Fundi, as the new NGFS chair and vice chair, will bring the NGFS to new heights and advance this important work of greening the financial system”, said outgoing chair Menon.

Menon has also stepped down from his position as managing director of the Monetary Authority of Singapore. He was replaced on 1 January by Chia Der Jiun, who has previously worked in leadership roles within MAS, the Singaporean government and the IMF.

In an interview for the NGFS, Menon thanked the group’s membership for their “enthusiasm and passion” and urged members “to build on this momentum to carry on with the work ahead”.

This page was last updated February 8, 2024

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