felipe m medalla : painting the central bank of the philippines green speech by mr felipe m medalla, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the launch of the sustainable central banking strategy, manila, 21 december 2022. * * * doctor ulrich volz of school of oriental and african studies university of london ; department of environment and natural resources licenses, patents, and deeds division chief alvin joseph constantino ; asian development bank southeast asia department officer - in - charge winfried wicklein ; of course, our friends from the banking sector - i see bankers'association of the philippines ( bap ) president tony moncupa there ; my dear colleagues in the monetary board and our deputy governors and assistant governors - my partners in doing what bangko sentral ng pilipinas ( bsp ) has to do for the country - and of course, all of the guests, allies in sustainable finance, good afternoon. why climate change matters to the philippines – and the bsp i will start by answering some of the challenging questions that people ask me on climate change : " why are we even concerned about climate change? " we [ the philippines ] are a victim. we are very small in terms of [ global greenhouse gas ] emissions, and we are late in contributing to emissions. sabi nga eh, " small na, late pa, pero kasama [ sa apektado ]. " now, of course, my answer always has been that : we will be affected. indeed, all those estimates of vulnerability and damage, we are usually in the orange to the red color in the heat maps. for instance, climate change could very obviously affect food supply. as we know from our own history of inflation, this could lead to large supply shocks, supply - driven inflation. sov we have to know how to prevent what economists call, " second - order effects " ; how supply - shock inflation can become more permanent inflation depending on what the central bank does. the other point is that, clearly, it [ climate change ] will affect how we regulate banks because, obviously and as [ bap's ] tony [ moncupa ] would attest to, capitalization requirements should be commensurate to the risks. the more risky you [ r activities ] are, the more capital you have to put up. and, clearly, climate change will add to the risks. so

jean - claude trichet : the us economy, the euro area economy, and their central banks speech delivered by mr jean - claude trichet, president of the european central bank, at the award ceremony on the occasion of the “ 6. karl klasen journalistenpreis ”, hamburg, 7 december 2007. * * * sehr geehrte damen und herren, ich freue mich, heute abend gemeinsam mit ihnen diese festliche atmosphare genießen zu durfen, und es ist mir eine ehre, der hauptredner der verleihung dieses journalistenpreises zu sein. ich danke ihnen, herrn kai - jacob klasen, herzlich fur die einladung und finde es bewegend, heute abend im rahmen dieser veranstaltung dr. karl klasen zu gedenken. die stiftung, die diese preisverleihung ausrichtet, hat sich das lobenswerte ziel gesetzt, journalisten zu arbeiten uber die deutsch - amerikanischen beziehungen zu inspirieren, und zeichnet diejenigen aus, die sich durch ihre beitrage um die festigung der bindungen zwischen deutschland und den usa verdient gemacht haben. was die geldpolitik anbelangt, so stehen die transatlantischen beziehungen nun im breiteren kontext der interaktionen zwischen dem eurosystem und dem federal reserve system. in meiner funktion als prasident der europaischen zentralbank habe ich mich stets darum bemuht, die engen und freundschaftlichen verbindungen zu unseren us amerikanischen kollegen zu pflegen und zu starken. [ ladies and gentlemen, it is a pleasure for me to be here today in this festive atmosphere, and an honour to be the main speaker at this journalist award ceremony. i am very grateful, mr kai - jacob klasen, for your invitation, and i am moved to pay tribute tonight to the memory of dr karl klasen. the foundation hosting this ceremony has the commendable purpose of inspiring and rewarding journalists