In September 2007, Bank Negara Malaysia initiated the Financial Sector Talent Enrichment Programme (FSTEP) to train and prepare 1000 highly qualified graduates for immediate placements in banking and insurance institutions. This effort is undertaken in collaboration with the industry and training institutes and is aimed at boosting the supply of well-trained and competent personnel for the financial services industry. In the area of Islamic finance the continued international expansion has increased the demand for talent and expertise in the industry. The establishment of the International Centre for Education in Islamic Finance (INCEIF) in Malaysia in 2006 represents a structured investment in the development of human capital to support this global development of the  2  BIS Review 25/2008  Islamic financial services industry. The programmes are for practitioners and graduate students. In addition, it is envisioned that INCEIF will act both as a professional certification body as well as an education centre for post-graduate programmes in Islamic finance. With the firm commitment to build human capital, the challenge is to formulate the appropriate strategies and mobilise the resources necessary to produce results that will enhance the intellectual capital of the industry. This will require the combined efforts of internal strategies within banking institutions, that involves a holistic approach that coordinates the strategies for human resource management and development reinforced by strategies for organisational development. This will also involve putting in place the appropriate processes and structures. A total solution will be required. These efforts will also need to be supported by education providers.

4  See: https://www.ngfs.net/sites/default/files/media/2020/09/03/ngfs_charter_final.pdf IPBES (2019). The Global Assessment Report on Biodiversity and Ecosystem Services. Accessible at: https://ipbes.net/global‐assessment 6 Dasgupta (2021). The Economics of Biodiversity: The Dasgupta Review. HM Treasury. Accessible at: https://www.gov.uk/government/publications/final‐report‐the‐economics‐of‐biodiversity‐the‐dasgupta‐review 7 See: https://www.governo.it/node/16923 5  3  The Sustainable Development Goals offer a useful set of targets to achieve this overarching objective, starting with the COP26 conference, that ‐ as I think I said before ‐ we are co‐chairing with the United Kingdom.” As regards health aspects, I am sure that Mario Monti, chair of the Pan European Commission on Health and sustainable development launched by the WHO‐Europe,8 who had already made several proposals in March 2021, will go into more depth when he takes the floor. The scientific community estimates that 60% of known infectious diseases and up to 75% of new or emerging infectious diseases are zoonotic in origin.9 Hence, the Covid‐19 (regardless of its origins, which have not yet been confirmed) should be considered a clear warning of what could happen if we fail to act on biodiversity loss.10 It is therefore very promising to see that this conference has organised two panels on the question of biodiversity and the financial system. This is in line with the growing acknowledgment that biodiversity‐related risks could also pose a threat to financial stability. The OECD11 and the Dutch central Bank (DNB12) have already published reports on biodiversity‐related financial risks; the NGFS13 has started to work on this question as well.