The meeting, held on 9–10 March 2026 and hosted by the South African Reserve Bank (SARB), was chaired by NGFS Vice Chair and SARB Deputy Governor Fundi Tshazibana. It brought together more than 180 representatives from central banks and supervisory authorities across 76 countries, reflecting the continued expansion of the NGFS and the growing demand for its technical work.
In her opening remarks, NGFS Chair Sabine Mauderer, First Deputy Governor of the Deutsche Bundesbank, stressed that while international cooperation was under increasing pressure, climate change remained a physical reality with material financial consequences. She emphasized that the NGFS was responding by strengthening its strategy, sharpening its analytical tools and reinforcing cooperation across jurisdictions.
Discussions during the plenary focused on translating analysis into practical solutions. Members examined how improved data and analytics could support climate adaptation and economic resilience, and how nature‑related risks, including the value of ecosystem services such as water, could be more systematically incorporated into supervisory practices. Participants also exchanged views on the next update of short‑term climate scenarios, aimed at better capturing near‑term macro‑financial risks, and on the implications of climate change for monetary policy, including its effects on food and energy inflation.
The programme featured contributions from global leaders, including Elizabeth Maruma, Executive Director of the United Nations Environment Programme Finance Initiative (UNEP FI), and Frank Elderson of the European Central Bank, who underlined the importance of international cooperation and evidence‑based approaches to managing climate and nature risks.
At the plenary, NGFS members agreed on three strategic priorities for 2026–2027: remaining a technical incubator for innovative approaches; providing scenario expertise; and strengthening capacity building to support practical implementation across diverse institutional and regional contexts. The NGFS also announced the introduction of regional groups to further enhance inclusiveness and responsiveness within its growing membership.
The Coalition of Finance Ministers for Climate Action participated actively in the Pretoria discussions, contributing to exchanges on capacity building, delivery and international cooperation. The Coalition’s engagement reinforced the importance of alignment between ministries of finance, central banks and supervisors in translating analytical work into concrete policy action and strengthening macro‑financial resilience. The exchange built on the Platform’s launch in São Paulo in November and the technical workshop held in London in January, highlighting the importance of sustained cooperation between ministries of finance, central banks and supervisors to support practical delivery on climate and nature‑related financial risks.
Concluding the meeting, Vice Chair Fundi Tshazibana highlighted that while climate and nature‑related risks were complex, they were not insurmountable, and that sustained collaboration and proactive engagement remained essential to building a more resilient and sustainable financial system.