A report released shortly after I came to the New York Fed showed that the typical New York State community college engages with more than 100 local employers, spanning every industry sector.4 More recently, the New York Fed hosted an event that explored ways to advance economic prosperity in rural areas.5 Many great insights were shared, including a framework for workforce development programs that contained four principles: 1) fashioning a strategy around a community's assets; 2) designing programs that are adaptable; 3) including traditionally marginalized groups in decision-making; and 4) bringing together community, business, and government leaders-like you are doing today. 2/3  BIS - Central bankers' speeches  Conclusion Developing career-building programs that meet the needs of local employers and are accessible to job seekers is critical to bridging the skills gap. Collaboration is a key component of any successful program. By joining together, we can advance the economic resilience of rural areas like Columbia and Greene Counties-and strengthen our Jenga tower. 1 Columbia-Greene LWDA Local Plan, July 1, 2021 – June 30, 2025. 2 Office of the New York State Comptroller, Availability, Access and Affordability:  Understanding Broadband Challenges in New York State, September 2021. 3 Investing in America's Workforce, a Federal Reserve System initiative in collaboration  with the Heldrich Center for Workforce Development at Rutgers University, the Ray Marshall Center at the University of Texas at Austin, and the W.E. Upjohn Institute for Employment Research (2019).

Internationally, the Government Pension Fund – Global is therefore often cited as a best practice fund. But perhaps we should add that the transparency competition between funds could be enhanced. The underlying motivation of these investors and whether the investments may be politically motivated have been called into question. Some fear strategic acquisitions of companies that are of considerable national importance. There have been calls for these funds’ investments to be monitored closely. The management of the Fund is based on two ethical commitments: First, there is the consideration relating to future generations. The Fund must ensure high capital returns at a moderate risk, by means of professional management with effective control of operational risk. Second, the Fund must respect the fundamental rights of those affected by the companies in which the Fund has invested. The instruments used here are the exclusion of companies from the Fund’s investment universe and the active exercise of ownership rights. The Ministry of Finance excludes companies that produce certain types of weapons. They also exclude companies when they identify an unacceptable risk of contributing to gross corruption, severe environmental degradation, and serious violations of human rights and of fundamental ethical norms. Norges Bank exercises its ownership rights by voting at general meetings and through direct contact with companies. Moreover, priority is given to combating child labour and we look critically at how companies influence the authorities in environmental issues. Over time, engaging in dialogue with companies is probably a more constructive approach than exclusion.