simultaneously, the infrastructures and common tools for climate risk management such as climate scenario analysis, stress test, and climate - related data 1 / 2 bis - central bankers'speeches must be put in place to create an enabling ecosystem where financial institutions and regulators could assess and monitor the risks effectively. ladies and gentlemen, looking ahead, it is thus inevitable that our regulatory and supervisory frameworks should take into account sustainability and climate - related factors. the conduct of prudential framework in this new landscape will arguably be the most difficult task as it is relatively new and still evolving. in addition, developing economies also have the distinct contexts and challenges to consider, especially on the expertise, data availability, and collaboration between public and private sector. hence, this course is essential for us seacen regulators to understand and identify our gaps, learn the key rationale why such frameworks and tools are being recommended and, more importantly, the implementation of cutting - edge practices that have been tested and adopted internationally. we are greatly fortunate to have such a prominent list of experts to share their insights and experiences on these topics. i would like to end my remarks by emphasizing the importance of regulators'capacity and collaboration. tackling sustainable finance and climate change is a challenging process and a long journey that cannot be accomplished by solely single entity. not only do financial institutions, but central banks and financial regulators also need to learn, share, and accommodate these new approaches to ensure sufficient measures and readiness of the whole financial sector for climate risk management and green transition. i hope you all have a good learning experience and a successful course. thank you very much. 2 / 2 bis - central bankers'speeches

, and possibly new commercial bank license in 2014 if such banks facilitate our regional economic and investment policy. finally, let me turn to the progress in capital market to complete a picture of the financial sector. collective action of both public authorities and private sector since the asean crisis has rebalanced our financial market from a predominantly bank - based to a more balanced one with a growing role of capital market. sizes of the bond and stock markets have noticeably increased. number of market participants has also been rising with a more variety of financial products. moreover, since march 2012 the thai capital market has been upgraded to the advanced emerging market status in the ftse global equity index series from secondary emerging market status. more exciting development is expected to continue under the 5 - year capital market development master plan which was established in 2009. apart from the internal push, asean exchange linkage under the vision of aec is taking place this year to allow global investors to trade asean blue chip stocks at lower costs through a single platform. this initiative will ultimately raise the visibility of asean capital market and continue to attract more capital flow. to sum up, as economic integration and upgrade of efficiency and competitiveness is key to our development, thailand ’ s financial system is geared to facilitate this process. to do so, financial liberalisation will play a key role, with contribution by asean banks as well as foreign banks operating in this region. ladies and gentlemen, i would like to reiterate that with solid economic strengths and a wide - ranging development in thailand ’ s financial system, the thai economy will continue to be resilient in the face of the dismal global outlook. the bot is fully committed to sound monetary policy conduct and financial - sector development via the financial sector master plan as well as play a supporting role in capital market development master plan. let me end my remark by thanking the british business community for substantial contribution to our economy. your contribution will not only strengthen our long history of economic partnership but also bring economic prosperity to both britain and thailand. i very much hope that the mutually beneficial ties between british and thailand will blossom into the future. thank you bis central bankers ’ speeches