misguided path. in particular, the significant efforts made in the region over the recent decade to bolster financial sector efficiency and innovation, which in turn promotes financial integration, could be disproportionately curtailed. in addition, it has only been recently that the global attention has also turned to enhancing supervisory intensity and effectiveness as an essential component of the financial reform effort. this is a welcome move and will add a critical dimension to the consideration of future reforms by national authorities. in asia, financial reforms were already accompanied by a significantly strengthened supervisory approach and safety net arrangements, which served to check unfettered innovation and reckless risk - taking behaviours and promote strong incentives for prudent risk management. for these reasons, our banking systems have been resilient through the global financial crisis and have continued to remain strong since, despite continued risks in the global economy. as we contemplate the raft of reforms that will continue to occupy the global agenda in the next few years, our considerations should be to pursue domestic and regional solutions that will deliver a more resilient financial system without impairing the continuous provision of efficient financial services that are vital for our economies. let me conclude my remarks. while many challenges remain, asia is at the cusp of experiencing significant collective economic growth and development. asia should however significantly draw important lessons from the global financial crisis and recognise the implications of greater interdependence. in addition, the sovereign debt crisis in europe relates not only to fiscal matters but to debt management which has significant implications for financial markets. while fiscal issues may remain a national matter, its financing and its broader consequences needs to be addressed. given the positive environment in asia, the opportunity needs to be taken to put in place the necessary arrangements to best address these challenges. the world is increasingly now looking towards asia. with these enabling conditions, asian economies would be better positioned to collectively strive and work towards achieving the shared vision of financial and economic integration that will not only unlock our potential but also enhance the prospects to contribute towards a more balanced and sustainable global economy. bis central bankers ’ speeches

trillion by 20501. our vision for malaysia to facilitate and catalyse green finance flows for the betterment of the planet aligns closely with our aspiration of becoming the renewable energy hub for asean, as well as to serve as an international gateway for islamic finance. we see the opportunity for more innovative solutions such as blended finance to support a just and orderly transition. to illustrate, by combining concessional financing and commercial funding, blended finance can help increase the bankability of high - risk green and transition projects. blended finance can also ease transition costs especially for small and medium - sized enterprises. being a nation blessed with unparalleled biodiversity, nature conservation holds paramount importance for malaysia. our rich ecosystems not only contribute to the global tapestry of life but also form the backbone of our economy and the livelihoods of many malaysians. by safeguarding our natural treasures, we ensure the sustainability of vital resources, supporting agriculture, forestry, and fisheries. as stewards of this diverse and precious land, embracing nature conservation is not just a responsibility but a pathway to a sustainable and resilient future for malaysia and beyond. 3 / 4 bis - central bankers'speeches climate and nature - related risks are tightly intertwined. climate change, driven by factors like emissions and deforestation, exacerbates extreme weather events and biodiversity loss. these changes, in turn, heighten risks of more frequent disasters, shifts in disease patterns, and challenges to food and water security. recognising these interconnections, bnm has been and will continue to actively build its knowledge and understanding of nature and role of the financial sector in nature conservation. as i wrap up my remarks, let me reiterate that malaysia welcomes the opportunity to work with partners to deliver on our commitments to fight climate change. on its part, bnm is fully committed to providing a sound and facilitative policy environment that allows for innovation to meet the large financing needs for climate risk mitigation and adaption, while strengthening climate risk management practices within the financial sector. malaysia also recognises that while the climate challenge requires urgent action by all, it is equally important for the world to chart the path forward in a just and orderly manner. this means striving to improve the wellbeing of communities all over the world, particularly for those most affected by climate change and the transition. only by promoting positive outcomes that benefit everyone and by minimising negative impacts and unintended consequences – such as