shut down and new ones should not be opened? does it mean that a healthy economic development of our country should be slowed down or prevented? most certainly not! this is why we need to enable uninterrupted development, but one that is greener – and all of us must participate in this and start doing our share of the work. growing environment sustainability problems that we increasingly face have become visible everywhere around us. these are global challenges, posed particularly to future generations. hence, it is no surprise that environmental challenges have been the focus of global leaders ’ attention over the past years. economic policy makers are also devoting more and more attention to this issue. voices are getting louder in recent years. they emerged in europe, then in the usa, and now 1 / 3 bis central bankers'speeches they are roaring from asia, too – they are calling not only for awareness raising, but for action in greening the planet as well. from economic and financial perspective, this implies rewarding projects aimed at reducing carbon use and increasing reliance on alternative sources of energy. more specifically, an efficient method is sought for sanctioning, from the financial market perspective, toxic emissions in production and processing. the transformation to a “ green ” economy has numerous, scientifically confirmed advantages. it is expected to be the key engine of sustainable global growth in the medium and long run. depending on the region where they operate, financial markets have developed new, “ green ” instruments ( such as “ green ” bonds ). the purpose of these instruments is to increase the level of financial flows towards “ sustainable ”, environmentally friendly projects. “ green ” bonds are gaining in popularity, not only because of their importance for mobilizing funds for environmentally acceptable industries, but also because of the numerous benefits they offer to both issuers and investors, while having positive final effects on the general population. a well - known example is that of germany which decided to issue “ twin ” green bonds, with the same characteristics as the conventional bonds. to ensure price equality, they committed to performing the so - called switch transactions – exchanging one bond for the other. central banks worldwide also took action. some central monetary institutions have already adjusted their strategies and goals ( and many are planning to do so ). thus, in addition to targeting low and stable inflation, the bank of england recently decided to update its remit to include support to environmentally sustainable growth. environmental objectives were also included in the ongoing monetary strategy review by the european central

entire economy. it is for this reason that sadc must maintain high standards of regulation for our financial markets. the chairperson, ladies and gentlemen, i note from the conference program that you will also reflect on the impact of the financial crisis on the sadc region. this is commendable as it is a subject of interest to everyone. with these remarks, it is now my pleasure and privilege to declare the conference for the committee of insurance, securities and non bank financial authorities officially open. distinguished delegates, ladies and gentlemen, thank you for your attention.