– what we are doing here – is a vital component. we must develop clear guidelines on green finance. the temptation would be to be loose with definition and regulation, in order to ensure that nairobi is the entrepot in this new, and essential, field of finance. however, the entrepot model can have its drawbacks. we must remember that sometimes these may bring the detritus of trade, much as they could bring in high quality commerce. we cannot accept, or afford, to give cover to those who only wish to burnish their greenwashing credentials. thus, we must look at the highest quality of green bond issuance. the guidelines that we are launching today should be guided by the green bond principles, which outline clearly how projects are selected, and how proceeds are managed and used ; as well as which information is disclosed to investors and how. we must also position nairobi to be a global centre for the green assessment of bonds. issues such as verification, consultant review and ratings can be refined here, and we should develop and attract global experts in these fields. it is my hope that when we look back a decade or two hence, we will recall this morning fondly, saying to each other that'we were there ', when we set nairobi on the path to being a capital of green bonds and green finance. and, incidentally, finding me will be fairly easy. i will be the retired old man reading a book under a tree in uhuru park! thank you for your attention.

speech governor signe krogstrup ’ s speech at the conference new types of digital money at danmarks nationalbank 9 march 2023 check against delivery introduction ladies and gentlemen. it ’ s a pleasure to welcome you to the conference on new types of digital money here at danmarks nationalbank. digitalization, new technologies and financial innovation are changing the nature of society. they also touch at the core of central bank mandates of monetary and financial stability as well as secure and efficient payment systems. central banks are therefore increasingly analysing the implications for the future of the monetary and financial system. danmarks nationalbank is no exception. we pay close attention to ensure that society reaps the gains while minimising potential costs of these developments. this is no simple task. innovation in digital money and payments is moving fast and the direction is uncertain. we have to assess how to best respond to developments as they unfold. but we also need to stand ready to change our assessment when circumstances change or new insights emerge. this is why we have convened you all to this conference today. i ’ m looking forward to the presentations and discussions on the agenda. as a central bank, we want to engage, we want to learn, and we want to be challenged! but i would like to start by emphasising what we do know, from monetary history and scholarship. i will then discuss some of the implications for our assessment of future types of money. page 1 of 8 1. lessons from history on the functioning of money history has plenty of examples of money that worked well and money that didn ’ t. for money to work well, it needs to … be an efficient and broadly accepted means of payment. … be the unit of account in which prices of goods and services are denominated to anchor our sense of the relative value of different goods and services. … and finally, hold a stable predictable value, or purchasing power, over time. this is essentially what we mean by price stability. underlying these attributes of money is trust. you accept money as payment only when trusting that others will do so as well, now and in future. you hold money trusting that it will maintain its purchasing power over time. without trust, money does not function. so, where does trust come from? in earlier monetary history, trust in the value of money was ensured in so - called “ commodity money ” ; money with intrinsic value and use in its own right. examples are plentiful : cigarettes