of our supervisory expectations on c & e risks by the end of 2024 at the latest. with respect to our monetary policy, the ecb is currently fully on track implementing the climate action plan that we committed to when we introduced our new monetary policy strategy in the summer of last year. to give you a concrete example, last week we announced the details of how we intend to gradually decarbonise our corporate bond holdings, starting on next monday, in line with the goals of the paris agreement. at the same time, it is important to remember that our climate action plan is not an aim in itself but rather a means for us to deliver on our mandate. that ’ s why the governing council announced in july that it would regularly review the measures proposed in its action plan to assess whether they are still fit for purpose, and continue to support the decarbonisation path towards reaching the goals under the paris agreement, as well as the eu climate neutrality objectives. and not only this. something that is clearly relevant for us and this conference is that we will adapt these measures if necessary to address other environmental risks within our mandate. expressing a readiness to look beyond climate - related risks and address environmental risks is an important initial step that i invite all relevant stakeholders to take. that applies to central banks, supervisors, regulators and international standard setting bodies. even if the current focus of the ongoing work is still on climate - related risks, our ever - evolving understanding of the materiality of environmental risks and their transmission channels implies that these risks ultimately need to be taken into consideration in everything we do. let me conclude. for the first time in 75 years the artis groote museum – where this conference is held – reopened its doors this spring. the theme of the museum is that everything is connected : plants, animals, microbes and human beings, all in a precious but delicate harmony. economics and finance are no different. taken together, households, firms, governments and financial institutions form a similarly precious – and at times delicate – equilibrium. our analysis, assessment and policy actions should reflect the fact that nature and the economy are equally interconnected and interdependent. in line with a central theme of the landmark dasgupta review on the economics of biodiversity that “ humanity is embedded in nature ”. back to “ natura artis magistra ”. nature isn ’ t just the teacher of the arts, it is also the teacher of finance. one may be inclined to paraph

##rase : “ natura finis magistra ”. [ 5 ] in fact, nature makes finance thrive. this is what ultimately needs to become fully embedded in the work of central banks, supervisors, regulators and international standard setting bodies, within their mandate. because nature - related risks are part of our mandate. thank you for your attention. 1. university of cambridge institute for sustainability leadership ( 2021 ), handbook for nature - related financial risks : key concepts and a framework for identification, march. 2. de nederlandsche bank ( 2020 ), indebted to nature : exploring biodiversity risks for the dutch financial sector, june ; de nederlandsche bank ( 2019 ), values at risk? sustainability risks and goals in the dutch financial sector ; and banque de france ( 2021 ), “ a silent spring for the financial system? exploring biodiversity – related financial risks in france ”, working paper series, no 826, august. 3. ecb ( 2020 ), guide on climate - related and environmental risks - supervisory expectations relating to risk management and disclosure, november. 4. dasgupta, p. ( 2021 ), the economics of biodiversity : the dasgupta review, hm treasury, london, february. 5. the word “ finance ” originates from the latin “ finis ” meaning “ limit ” or “ end ” and was first used in its current context in french in the sense of settling debt.