we remain resolute in pushing ahead with our initiatives against climate change risks. however, the effects of climate change are rapidly intensifying and are also become increasingly intertwined with environmental degradation. hence, it is the need of the hour for all key stakeholders of our society, including scientific resources and private businesses, to combine their efforts for the national climate action of mauritius to become really meaningful and inspire positive change internationally. as we look ahead, if we aim to achieve sustainable and inclusive recovery, we should not be oblivious to our green credentials. indeed, building a greener, more sustainable and more climate - resilient economies is now an important part of the growth equation. we, at the bank of mauritius, have 3 / 4 bis central bankers'speeches already begun this journey by taking the right step in launching the climate change centre. four task forces have been set up, and i invite all stakeholders to actively interact with them, and with the climate change centre, to further the climate change agenda and contribute to the elaboration of strategies. the involvement of stakeholders is key especially as regards capacity building, exchange of information and data sharing. there is a dedicated webpage which the bank has created. you can see it on the screen right now. the webpage contains all the relevant information and contact details. ladies and gentlemen, the launch of the bank of mauritius climate change centre is indeed a major step for the country. it is a legacy for future generations. it is even more timely, as it comes to us as a prelude to cop - 26, which is due next month. with these words, i thank you all for your attention and look forward to having a meaningful discussion with you during the break - out session. 4 / 4 bis central bankers'speeches

harvesh seegolam : launch of the bank of mauritius climate change centre speech by mr harvesh seegolam, governor of the bank of mauritius, at the launch of the climate change centre, port louis, 14 october 2021. * * * mr frank elderson, chairman of the network of central banks and supervisors for greening the financial system ms danae kyriakopoulou, senior policy fellow at the grantham research institute on climate change and the environment at the london school of economics and political science distinguished guests online viewers ladies and gentlemen good afternoon it is my pleasure to welcome you, both physically and virtually, at the bank of mauritius for the launching of the bank of mauritius climate change centre. the last decade has witnessed growing interest among policy practitioners, including central banks, for onboarding climate change considerations into policy design and implementation. this can be substantiated by the manifold risks that climate change directly or indirectly poses to the mandates of central banks, namely price stability and financial stability considerations, with potentially disrupting effects on the financial system and economy at large. looking back, i can say that the landmark 2015 speech “ breaking the tragedy of the horizon – climate change and financial stability ” by mr. mark carney, former governor of the bank of england, then chairman of the financial stability board, and currently un special envoy on climate change, might have triggered the interest of central banks in the climate change topic and put the pressure on them for initiating climate actions. further, with the un intergovernmental panel on climate change ( ipcc ) recently highlighting potential global warming of above 1. 5 degrees celsius, unless actions are taken for deep reductions in carbon dioxide and other greenhouse emissions in coming decade, the onus is definitely now on central banks to take forward the climate change topic as part of their sustainability agenda. ladies and gentlemen, climate change is increasingly being regarded as the next main global threat to economic activity after the covid - 19 pandemic. indeed, recent polls show increasing awareness of climate change particularly at the level of youngsters. more than half of the people in middle - income and least developed countries, and nearly three - quarters among people in small island states and high - income countries deem it a global emergency. the covid - 19 pandemic has brought 43 percent of the world ’ s population to worry about climate change. however, unlike the pandemic which is largely recognized as a ‘ black swan