White Paper On Risk Management In The Financial Sector

On 30 June 2025, the NBU Board approved the White Paper on Environmental, Social and Governance (ESG) Risk Management in the Financial Sector.

ESG risks – a set of environmental, social and governance factors that can affect a company’s sustainability, reputation and financial stability.

The white paper outlines a vision of the future state of financial sector ESG risk management and identifies, in particular

the prerequisites for managing ESG risks in the financial sector of Ukraine, including the level of relevant risks, the state of regulation in this area and the NBU’s mandate;
the vector of regulatory development, in particular, future requirements for products and activities, building a corporate governance and risk management system, and information disclosure;
a forward-looking vision of ESG risk management directly in the financial sector of Ukraine, including the implementation of risk management in the corporate governance and internal control system, proper assessment, implementation of optimal processes for collecting and processing customer information, disclosure, etc.

At the first stage – from 2025 to 2026 — the main requirements will apply to banks, and at the second stage – from 2026 to 2030 – they will apply to other socially important financial institutions that have a significant impact on sustainable development and higher exposure to ESG risks.