sector finance flows with public resources has been identified as a key lever of transition. however, to get the public - private capital mix flowing, policy makers and private sector actors need better data, information transparency, and certainty on the development and rollout of emissions targeted technologies and regulations. conclusion tackling climate change is both an enormous challenge and an opportunity that we all have an obligation to respond to. it remains within our power to take the steps required to transition our economic and financial systems. it will take concerted, collaborative efforts, but remains eminently achievable. more than that, these are critical shifts we need to make if we want our new zealand companies to be best positioned to thrive in a net zero world. central banks have a supporting role to play. we can provide the financial system with processes and functions like stress testing and prudential supervision which help keep long - term goals in focus, and we can keep the risks front of mind for financial entities. we can also provide guidance and information to help markets function more efficiently, reflecting global advances in risk management and climate - related risk analysis. and we can facilitate collaboration between those developing and sustaining transition finance mechanisms. many of you are already engaged in this work and i want to thank you for your efforts. i ’ d also like to thank the banks, insurers, policy makers, agriculture sector organisations, iwi and ngos – who have taken such a keen interest, made demonstrable commitments and taken actions over the past few years. this has been both exciting and inspiring to witness, and it ’ s just the start. changing the future will take us all putting our shoulders to the wheel. but there ’ s many of us engaged in this mahi, and none of us are carrying the burden alone. _ _ _ _ _ _ _ _ _ _ _ _ 17 new zealand. ( 2021, november 4 ). submission under the paris agreement new zealand ’ s first nationally determined contribution [ review of submission under the paris agreement new zealand ’ s first nationally determined contribution ]. https : / / unfccc. int / sites / default / files / ndc / 2022 - 06 / new % 20zealand % 20ndc % 20november % 202021. pdf menon, r. ( 2023, march ). a supervisory push for transition planning and blended finance. presented at the green swan conference 2023. retrieved from https : / / www. bis. org / review

/ project / sites / rbnz / files / publications / analytical - notes / 2021 / an2021 - 04. pdf menon, r. ( 2023, march ). a supervisory push for transition planning and blended finance. presented at the green swan conference 2023. retrieved from https : / / www. bis. org / review / r230601g. pdf ministry of business, innovation & employment, & ministry for primary industries. ( 2021 ). maori economy emissions profile. retrieved from https : / / www. mbie. govt. nz / dmsdocument / 17448 - maorieconomy - emissionsprofile # : ~ : text = greenhouse % 20gas % 20emissions % 20from % 20the, 6. 4 % 25 % 20of % 20new % 20zeal and % 27s % 20gdp. ministry for the environment. ( 2020 ). national climate change risk assessment for new zealand arotakenga turaru mo te huringa ahuarangi o aotearoa. in https : / / environment. govt. nz / assets / publications / files / national - climate - change - risk - assessmentmain - report. pdf. ministry of the environment. new zealand. ( 2021 ). submission under the paris agreement new zealand ’ s first nationally determined contribution. retrieved from https : / / unfccc. int / sites / default / files / ndc / 202206 / new % 20zealand % 20ndc % 20november % 202021. pdf ngfs publishes its 2022 - 2024 work program. ( 2022, may 30 ). retrieved from ngfs central banks and supervisors website : https : / / www. ngfs. net / en / communique - de - presse / ngfs - publishes - its2022 - 2024 - work - program nicholls, k., & samarasekera, r. ( 2021 ). outcomes of the 2021 general insurance industry stress test. [ review of outcomes of the 2021 general insurance industry stress test. ]. reserve bank of 9 no longer tomorrow ’ s problem : how the reserve bank is working with its stakeholders to respond to climate change ref # 20681799 v3. 43 new zealand bulletin, 84 ( 2 ). https : / / www. rbnz. govt. nz / / media / project / sites / rbnz