is important to the bangko sentral ng pilipinas. both mr. zink and mr. pilling have given us a useful and comprehensive background on the objectives, issues, efforts being made towards expanding financial education and inclusion. i would like to tell you about our experience at the bsp. the vision of the bsp as the country ’ s monetary authority and supervisor of the banking system is to be a catalyst for a globally competitive economy and a financial system that delivers a high quality of life for all filipinos. while financial education may not immediately be considered a core function of a monetary authority or a supervisor of the banking system, it is actually quite intrinsically linked to our overarching goal and vision. to us, financial education empowers people to manage their resources with prudence, instills the discipline of saving regularly, and safely grow their money. thus, we believe that financial education empowers the citizenry to become effective partners of the bsp as productive economic agents and improves people ’ s lives. with the importance we attach to financial education, the bangko sentral is implementing a nationwide economic and financial learning program. we follow a multi - dimensional strategy bis central bankers ’ speeches covering 1 ) the learning sector including schools, public and private sector research work, and 2 ) the transacting public. for the “ learning ” sector, we created economic and financial learning centers at our head office, three regional offices and 18 branches across the country. these are our primary in - house communication channels and the public ’ s focal point of contact in the bsp on information concerning economic and financial matters. the bsp also conducts outreach activities, such as targeted seminars and expos to promote greater awareness and understanding of essential economic and financial issues. for the transacting public, the bsp created the financial consumers affairs group ( fcag ), a unit dedicated to assisting consumers who have concerns related to banking and financial services. we have also forged partnerships to broaden and deepen our reach. among others, we are in partnership with the department of education for the integration of lessons on saving and money management into the elementary education curriculum of our 14 million elementary pupils. parallel to this, we forged partnerships with the bank marketing association of the philippines for the development of affordable child - friendly bank products including savings account with a minimum opening balance of p100 or less than us $ 3. 00. we have also partnered with international organizations to help us benchmark our

on global developments and domestic experiences on cg and esg. i hope you all take advantage of this opportunity. conclusion we thank the ifc and the world bank for your sustained support to the bsp and the banking industry. thank you to this community of regulators, government agencies, the banking associations, the sustainability advocates, colleagues and guests, for joining us in this endeavor. we will surely keep you involved in the next steps of the bsp - ifc partnership. thank you and good morning. - - - - - - - - - - - - - - - - - - - 3 / 4 bis central bankers'speeches 1 grindle, merilee s., june 2010, “ good governance : the inflation of an idea ”, harvard faculty research working paper rwp10 – 023, kennedy school of government. e. g. circular 855 on credit risk management framework ; circular 808 on technology risk management ; and circular 900 on operational risk management. corporate policies and practices that enhance the competitive advantage and profitability of the company while simultaneously advancing social and economic conditions in the communities in which it operates. shared value is not corporate social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success. ( harvard business school, institute for strategy and business ). 4 adapted from the swiss sustainable finance center. members of the sustainable banking network that have issued regulations / roadmaps / standards that specifically promote esg standards. frankfurt school - unep centre for climate & sustainable finance. “ delivering the green economy through financial policy ”. technical paper, march 2014. 4 / 4 bis central bankers'speeches