Environmental, social and governance (ESG) standards are becoming increasingly important for business competitiveness, access to financing and integration into the European market, said Second Deputy Governor of the Bank of Albania Natasha Ahmetaj.

Speaking at the conference “Turning ESG Standards into Business Value – Competitiveness and Sustainable Growth in Albania and Kosovo,” Ahmetaj said the transition to a more sustainable economy requires businesses, banks and institutions to adapt to new European requirements. She stressed that companies must assess climate risks, meet EU regulatory requirements and invest in more sustainable and environmentally friendly business models.

Ahmetaj also highlighted the key role of the banking sector, which remains the main source of financing for the Albanian economy. Banks must adapt their reporting and risk-management practices while directing capital toward sustainable projects. She also announced that the Bank of Albania, together with the European Investment Bank, is working on an Albanian Green Taxonomy based on European standards. The taxonomy will help identify environmentally sustainable economic activities and guide investment toward green projects.

Ahmetaj said reliable and transparent data will help banks and investors better assess risks and opportunities linked to the green transition. She added that, amid Albania’s EU integration process, businesses should see ESG standards not only as regulatory requirements but also as an opportunity to improve competitiveness, expand access to financing and integrate more effectively into European value chains.

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