support their technology, human capital, and market development. we will enrol eligible applicants in deal fridays, a programme jointly organised by mas and enterprise singapore, where they will gain access to the investor community. 7 / 8 bis central bankers'speeches conclusion the future of money, finance, and the internet will have far - reaching effects on economies and societies. it is important that public authorities and the financial and technology communities work together to shape that future, so that money, finance, and the internet can be forces for good, helping to expand economic opportunity, enhance social inclusion, foster stability, and protect our planet. ultimately, money, finance and the internet must serve the people who use them. mas is committed to partnering you on this exciting journey. have a great fintech festival! 8 / 8 bis central bankers'speeches

2019 french energy - climate law makes it mandatory to disclose not only on climate - and biodiversity - related risks, but also on how financial institutions and corporations align their strategies with international climate and biodiversity goals. page 11 sur 12 of course, the implementation of double materiality raises significant theoretical, legal and operational challenges. xxviii but we should be thinking about this seriously rather than ignoring the topic, if we truly understand that preserving ecological stability is a prerequisite to price and financial stability. 4. conclusion let me conclude with two brief messages. the task ahead looks like an uphill battle : academic economic departments, policy makers, central bankers and supervisors remain far behind the curve when it comes to acknowledging that our socioeconomic systems need to operate a radical transformation. we know that those who dare to question the status quo face strong pushback or even reputational risks for their careers. they may be considered “ activists ” or “ dreamers ”. however, we have no choice but to restore nature as much as possible, as quickly as possible and finance can play a role in this task. the magnitude of the change require makes it difficult but also promising. no generation on earth for the past 12, 000 years had such a responsibility to keep the world alive. moreover, paradigm changes sometimes occur faster than expected, and there are great rewards for those who dared to explore new frontiers. it goes without saying that exploring these new frontiers of climate and nature in macroeconomics and finance should be done as seriously as possible, as we will be held to an even higher standard than our peers. it is my hope and belief that this conference will be a step forward toward this end. page 12 sur 12 * i thank romain svartzman for his assistance in preparing these remarks i dasgupta, p. ( 2021 ). the economics of biodiversity : the dasgupta review. steffen, w., grinevald, j., crutzen, p., and mcneill, j. ( 2011 ). “ the anthropocene : conceptual and historical perspectives. ” philosophical transactions of the royal society a : mathematical, physical and engineering sciences 369 ( 1938 ) : 842 – 67. https : / / doi. org / 10. 1098 / rsta. 2010. 0327. iii ceballos, g., ehrlich, p. r., & raven, p. h. ( 2020 ). “ vertebrates on the