The functions of the Green Finance Institute (ŽFI) are defined in the 2023–2026 Lithuanian Green Finance Action Plan and the Law on the National Development Bank, while the shareholder’s expectations letter reflects the goals set by the shareholder.
The 2023–2026 Lithuanian Green Finance Action Plan foresees the establishment of the ŽFI and outlines actions aimed at promoting the development of green finance, creating a favorable ecosystem for green investments, encouraging greater investment in green products, and contributing to the broader green transformation of the Lithuanian economy. The ŽFI is largely responsible for implementing these actions. In carrying out the actions set out in the Lithuanian Green Finance Action Plan, the role of the ŽFI is as follows:
| Coordinates public and private sector cooperation in the field of green finance, thereby promoting the development and expansion of the green finance ecosystem in Lithuania and contributing to the green transformation of the Lithuanian economy | Provides consultations, technical, and expert support to public and private sector entities in implementing green transformations |
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Prepares methodological materials (methods, guidelines, etc.) for assessing the sustainability of projects |
Increases access to sustainability-related data and promotes the dissemination of information about green finance |
| Organizes training and events on sustainability topics | Initiates and provides proposals for solving issues related to sustainable (green) finance and their implementation |
The Law on the National Development Bank assigns specific functions in the field of green finance, which the ŽFI carries out within its area of competence:
| Provides proposals and expert (technical and methodological) assistance to state and municipal institutions and agencies in the area of green finance, and regarding necessary decisions to improve the investment environment and access to financing for project-implementing entities | Develops the sustainable labeling ecosystem |
| Initiates and proposes scientific research related to green finance | Conducts educational and informational activities |
| Coordinates public and private sector cooperation in the field of green finance | Promotes Lithuania’s name in the field of green finance |
In response to the shareholder’s expectation to become a leading center of knowledge and expertise in green finance in the Baltic region, the ŽFI plans to develop cooperation with public sector entities across the Baltic region by sharing best practices and sustainability initiatives, implementing joint projects, and organizing international conferences. To fulfill the shareholder’s expectation to take an active role in promoting financial literacy among Lithuanian businesses, the ŽFI implements various measures that not only provide knowledge about sustainable financial solutions but also encourage companies to make responsible, long-term decisions.