louis kasekende : strengthening economic links between china and uganda remarks by dr louis kasekende, deputy governor of the bank of uganda, at the dinner in honour of dr. zhou xiaochuan, governor of people ’ s bank of china, kampala, 19 may 2014. * * * honourable minister responsible for finance, mrs. maria kiwanuka the governor of the peoples ’ bank of china the ambassador of the peoples ’ republic of china to uganda board of directors, bank of uganda permanent secretary / secretary to the treasury permanent secretary, ministry of foreign affairs chairman, uganda bankers association chairman, uganda manufacturers ’ association the president, uganda chamber of commerce and industry executive director, private sector foundation executive director, uganda investment authority chairperson, association of uganda foreign exchange bureaus chairperson, kampala city traders association ( kacita ) distinguished delegates from the peoples ’ bank of china management staff of the bank of uganda ladies and gentlemen good evening the purpose of this dinner is to welcome the governor of the peoples ’ bank of china dr. zhou xiaochuan and his delegation. dr. xiaochuan, it is a great honour to welcome you to uganda, on your first visit ever to this country. it marks the growing importance of china to uganda and our hope is that your visit will cement the relationship between the peoples bank of china and bank of uganda and also boost trade and investment between china and uganda. over the last decade, china has become a very valuable partner for development in uganda, as evidenced by the increasing bilateral trade between the two countries, project aid, and the significant investments by the chinese government in the areas of infrastructure development such as road construction, hospitals, railway, electrical power and communications, and oil. apart from strengthening trade and direct investments between china and uganda, i believe that there is a great deal to learn from china ’ s achievements, which include steady and robust growth for two decades, often with the highest annual growth rates in the world ; a record in poverty reduction that is unparalleled in human history ; and among the world ’ s top 2 in economic size, trade, technology, science and other areas of the 21st century. china has been very successful in structural transformation, modernisation and economic growth. let me highlight three major lessons of china ’ s development which are of relevance to uganda and africa : first, the structural transformation has involved shifting huge numbers of bis central bankers ’ speeches workers from low productivity agriculture to modern industries, while simultaneously increasing agricultural production

speech by mr ravi menon, managing director, mas, at the finan … as for transition risks, it is estimated that up to us $ 20 trillion of assets across the energy, industry and building sectors globally could become stranded by 2050. financial institutions cannot [UNK] to ignore these risks. mas has co - created with the financial industry a set of guidelines on environmental risk management. these guidelines are distinct from those in other jurisdictions in two ways : first, they cover environmental risks beyond climate change – such as pollution, loss of biodiversity, and changes in land use. these risks can interact with climate [UNK] to compound environmental degradation and depress asset values. second, the guidelines extend beyond banks to include insurers and asset managers, and are calibrated to each sector ’ s business activities. the guidelines set out expectations for financial institutions to assess, monitor, mitigate and disclose environmental risks. financial institutions should adopt sound methodologies and tools to identify and assess the environmental risks relevant to them. they should monitor their exposures to geographies and sectors with higher environmental risks, and the carbon intensity of customers and investee companies. they should develop specific risk mitigation policies for sectors posing higher environmental risks and support the transition of riskier customers and investee companies towards sustainable business practices. they should disclose their approach to managing environmental risks and the impact of these risks on their financial performance. disclosure should reference internationally accepted reporting frameworks, such as those by the fsb taskforce on climate - related financial disclosures ( tcfd ). mas will assess environmental risk in our supervision of financial institutions. this will include assessing how financial institutions integrate environmental risk management with their business operations. within the next two years, mas will incorporate climate - related scenarios in our annual stress tests for the financial industry. disclosure of environmental risk applies as much to non - financial corporates. https : / / www. mas. gov. sg / news / speeches / 2020 / harnessing - the - power - of - finance - for - a - sustainable - future 6 / 13 14 / 10 / 2020 “ harnessing the power of finance for a sustainable future ” - keynote speech by mr ravi menon, managing director, mas, at the finan … only then can investors price climate - related risks and opportunities and asset managers construct and manage sustainable portfolios for their clients. the singapore exchange ( sgx ) requires listed companies to produce annual sustainability reports on a comply - or - explain basis. sgx will