some notable deterioration in the personal loans category of the banks ’ loan book. it is my expectation that stanbic bank zambia limited and other banks ’ will enhance prudence in their lending activities and strengthen their risk management systems as a way of minimising further deterioration of the banking industry ’ s loan portfolio. it is also my firm belief that banks will continue to conduct safe and sound practices even under challenging times and therefore help to mitigate the risks that the financial system is currently facing from the adverse developments in the global economy and the global financial system in particular. chairperson, in conclusion, i wish to take note of the commendable step that stanbic bank zambia limited has taken to build its own offices here in zambia after a long presence in the country. i am hopeful that this initiative will create a more expansive and customer - friendly environment for your customers. i congratulate you for this milestone. i thank you for your attention.

contingent on these uncertain technological developments. a key dimension that asset managers will need to build into their portfolios is climate resilience. they need to ask some searching questions. how will climate change affect the businesses that the portfolio is invested in? which are the firms in the portfolio that have not made credible efforts to decarbonise their operations? what are the investments that run the risk of being stranded assets in a net - zero world? what are the investment opportunities as the world transitions to a low - carbon economy? there have been significant policy moves on the sustainability front that will attract keen investor interest in the years to come. in us, the introduction of the inflation reduction act will direct nearly $ 400 billion in federal funding to incentivise low - carbon investments – in areas such as clean energy generation and storage, electric vehicle manufacturing, and carbon capture. in europe, the repowereu plan will mobilise up to €300 billion of investment in areas such as renewable energy, storage and energy efficiency, to achieve the 2030 target of a renewables share of 45 % in energy production. there are also significant opportunities for sustainable investing in asia. according to mckinsey ’ s estimates, net zero by 2050 would require about us $ 9. 2 trillion of investment per year. out of which, around one - third or us $ 3. 1 trillion would be in the asia pacific. southeast asia has high potential for climate action. estimates from bain shows that five sectors - renewable energy, electric vehicles, forest conservation, built environment and sustainable farming - account for 60 % of southeast asia ’ s carbon abatement potential [ 7 ]. for example, renewables such as solar and wind will reach an annual us $ 30 billion opportunity by 2030, while electric mobility will be an annual us $ 50 billion opportunity by the same period. to meet these needs, we need to catalyse blended financing. many green and transition projects in emerging markets pose risks that are not commensurate with their expected returns. we need catalytic or concessional capital from multilateral banks, public and philanthropic sources to improve project bankability and crowd in private sector capital. we need to strengthen the financial ecosystem to deploy blended finance at scale. this involves looking beyond the financing of individual projects and moving to a portfolio approach whereby concentration risks can be reduced through a diversified pool of assets. for instance, via multi - asset funds which invest in small scale renewable energy projects in specific markets