bank will continue to take care of its major business which is to take care of the value of the rupee. i think we have taken a fairly good approach to it so far – the rupee has been quite stable and i see no reason why it should not continue on that track. i would like to thank all those who have participated in these competitions, all those who made the competitions possible, all those who marked the papers, deputy governors and my colleagues from the bank who participated in the different activities that led up to making all this possible. let me wish you all – the teams, parents, teachers, everybody dear to you, a very merry christmas and a happy new year. thank you for your attention. the jeux des iles ( games of the islands ) of the indian ocean is a multi - sport competition whereby athletes from the various islands of the indian ocean meet since 1979. they are held every four years and are currently gathering seven delegations : mauritius, seychelles, comoros, madagascar, mayotte, reunion island and the maldives. mr vivian gungaram is the secretary of the mauritius athletics association. stephan buckland is a retired mauritian track and field athlete who competed in the 100 and 200 metres. in 2001, buckland became the first athlete in history to win the 100m, 200m and the 4x100m relay at the francophone games in ottawa, canada. bis central bankers ’ speeches

, known as scope 3 emissions. in many sectors, this is crucial for understanding a company ’ s climate risk. we will also work on other climate - related issues where we believe international standards may be useful. one example is the use of emission allowances. our work with companies begins with setting clear expectations. we have formulated our expectations in a set of expectation documents. when it comes to climate change, we already expect companies to have a climate strategy, set emission targets, report on progress, and stress - test their business models against various climate scenarios. in future, it will be natural for us to emphasise towards a net zero emission horizon. this will give clearer direction to our ownership activities. exercising ownership active ownership will play a key part in work on addressing the fund ’ s climate risk. a dialogue with companies will be particularly important. chart : climate increasingly a dialogue topic our dialogue with companies reflects our expectations. last year, we held around 3, 000 meetings with companies. as you can see from the chart, sustainability is increasingly on the agenda. 3 / 6 bis central bankers'speeches we plan to increase both the breadth and the depth of our climate - related ownership activities. we will give particular priority to the highest - emitting companies and companies that have not published climate plans or have inadequate climate reporting. we will also step up our ownership activities aimed at the financial sector, which is exposed indirectly to climate risk through loans and investments. we tailor our dialogue to the sector and the situation. steel and cement are good examples. these companies currently have high emissions, but their products will still be needed in the lowcarbon economy. much of our dialogue on transition plans is therefore about the technological advances and investments needed. we also raise the need for industry standards and the issue of lobbying, which is a major challenge. chart : companies ’ climate reporting is improving we are seeing signs that our efforts are paying off. for example, when we analysed the reporting of 1, 500 companies, we found that those we have actively engaged with have made more progress in their reporting on climate strategy than the other companies. of course, we cannot claim all the credit for this progress. but progress it is. in future, we will provide more information on our dialogue with companies – what we talk about and the changes we see. drawing attention to it is a tool in itself. reporting and voting our dialogue with companies will not have the desired result in every case. we can then hold boards to account