transition to a green and low - carbon economy. https : / / www. ipcc. ch / sr15 / m. nachmany & j. setzer, ‘ global trends in climate change legislation and litigation : 2018ssnapshot ’, grantham research institute report, may 2018, p. 5. the work of the european committee on disclosure requirements is also something we encourage as a financial supervisor. it contributes to more insight into - and transparency about - climate - related risks and exposures of financial companies under supervision. the network of central banks and regulators for greening the financial system, the ngfs - of which by the way our hosts, the banco de espana where among the first members - the network is growing and growing. it is now almost easier to name the central banks who haven ’ t yet joined, than to give you a full list of all central banks and regulators who share our concerns. i stand here also in my capacity as chair of this network. the network that in its first publication stated that climate change is a driver of financial risk. the network that stated : taking the consequences of climate change seriously, falls squarely within our mandates as central banks and supervisors. the network that called for action by setting six recommendations to manage risks and scale up green finance. these six recommendations were published in an ngfs report earlier this year, and are already seeing follow - up. next year, we expect to come up with at least three new publications, with which we facilitate the financial sector to assist in reaching the objectives of the paris agreement. one about transition scenarios and guidelines for scenario - based climate risk analysis. and a publication on current environmental risk assessments methodologies. and a guide on integrating climate & environmental risk into supervision. and while exchanging experiences and ideas, the fifty - four ngfs members are also looking closer into risk differentials between green and brown assets, and the market dynamics around green finance. the climate crisis needs to be fought on many fronts. many actors have a vital role to play. governments, private firms, ngos, scientists, consumers, the press... and of course, also the financial sector has a vital role to play : banks, insurance companies, pension funds, investment funds, credit rating agencies. and, and this is why i stand here : also central banks and supervisors have a vital role to play. the good news is, that a growing number of us realises this, and acts upon it. all 54 members of

emmanuel tumusiime - mutebile : farewell party for the 2010 retired staff speech by prof emmanuel tumusiime - mutebile, governor of the bank of uganda, at the farewell party for the 2010 retired staff, kampala, 17 december 2010. * * * members of the board deputy governor governor ( s ) emeritus invited guests retired staff staff present ladies and gentlemen it gives me pleasure once again to host 30 retiring staff for the year 2010 who has diligently served the bank and our country. i want to acknowledge with gratitude their selfless contribution in the service of the bank. to have served the bank until retirement is not a simple matter. we all know that you started service in this bank when you were many but some of your colleagues fell by the wayside. it is for this reason that we who are still in the bank, look at you with admiration and gratitude for a job well done. we thank you sincerely for being exemplary. you may be aware that while presiding over the commissioning of the new building for mbale bank of uganda regional branch, his excellency the president stated that bank of uganda staff is the most exemplary and professional in uganda. to this end, i would like to congratulate the entire bank staff. bank of uganda as you are all aware plays a leading role in the exceptional story of reform and development that uganda has so far experienced. distinguished guests, ladies and gentlemen, uganda ’ s banking sector emerged out of the recent financial crisis unscathed and the outlook for the sector is very promising. credit growth has remained robust, largely on account of improving business conditions and moderating credit risks. the ratio of nonperforming loans to total loans has been reduced to below 5. 0 percent reflecting overall improvements in asset quality. in addition, banks have remained well capitalized with capital well above the regulatory minimum. the sound and stable financial sector has in turn enhanced the effectiveness of the conduct of monetary policy by the bank of uganda. the bank has managed to contain inflation to a stable and single digit level. bank of uganda has also taken the following measures to promote financial inclusion : promoted mobile money transfer services designed a regulatory framework for tier 4 institutions that includes the regulation of saccos promoted the development of an effective framework for financial literacy and financial consumer protection made proposals to amend the financial institutions act 2004 to provide for islamic banking and finance. i want to emphasize that within the financial sector, bank of uganda with its regulatory mandate will continue to