earlier, a number of welcoming developments are taking place in our financial sector. but, much more can be done and need to be done to foster an ecosystem that promotes the overall sustainability — that will discourage misallocation of resources, limit corruptive practices, and help preserve our environment. adoption of best practices in sustainability is not just about making positive impacts to our society, but it can also be beneficial to financial institutions in a number of ways. first, it can help ensure long - term sustainability of financial institutions themselves. growing acceptance of sustainability practices globally has encouraged new standards and practices and raised the expectation of our society. early adopters of sustainability practices can meet society ’ s ever - increasing expectation ; take lead in setting new industry standards ; and make timely and necessary adjustment to their business models. these sustainability practices will help financial institutions mitigate strategic, operational, and reputational risks. second, financial institutions can better attract and retain a new generation of talents, especially the millennials, who are increasingly more attracted to firms with sustainability and philanthropic practices4. this is no surprise because these young individuals are becoming more concerned of sustainability issues and want to take part in making positive impacts. therefore, firms with strong sustainability values and practices can attract these talents by offering the additional satisfaction beyond remuneration benefits. third, adoption of sustainability can help financial institutions gain access to increasing pool of capitals, given the increasing volume of funds and investment products based on sustainability the 2017 millennial impact report. the millennial impact project, 2017. 5 / 6 criteria. it is estimated that more than a quarter of assets under management globally are now invested using the environment, social, and governance or esg principles5. ladies and gentlemen, it is now up to all of us — financial institutions, policymakers, and leaders — to embrace sustainability and incorporate its guiding principles in our daily lives and business practices. the objective of the bangkok sustainable banking forum is to raise awareness of the various issues of sustainability and identify gaps within our financial sector. seeing much enthusiasm from our high - level participants this morning, i am certain we can make positive changes for our future generations. i would like to take this opportunity to thank all of you for taking the time out of your busy schedules to be here with us. i would also like to thank the speakers, some of whom have traveled from different parts of the globe, for being here to share to with us their insights and best practices. let me, once again, urge all of us

mission to overcome deflation. our monetary policy initiatives will also contribute to shoring up the potential growth rate. the bank aims at providing accommodative financial conditions and dispelling people ’ s persistent deflationary mindset by pursuing “ qqe with a negative interest rate. ” we believe it will contribute to creating a business environment that encourages firms to pursue more proactive investment strategies and make greater efforts to improve productivity. if all economic entities bis central bankers ’ speeches fully take advantage of this extremely favorable environment, this should help to improve the potential growth rate. i fully expect this will happen. concluding remarks japan needs to raise the trend growth of the economy. this is necessary not only for the sake of the current generation but also to ensure that future generations can enjoy a decent life with a sense of hope and security. to that end, we need to utilize both demand - and supply - side measures to the greatest possible extent. now that the bank of japan has taken monetary easing one step further at the end of last month, i think that the original third arrow of abenomics, the growth strategy, must also fly faster. the challenges ahead are formidable, but it is time now to deliver results, no matter how difficult the challenges are. i hope that by doing so japan sets an example for other countries similarly facing a decline in trend growth. i will stop here. thank you very much. bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches bis central bankers ’ speeches