mr brash addresses the question : what can new zealanders expect of monetary policy in the long term? address by donald t brash, governor of the reserve bank of new zealand, to the northern club, auckland on 25 march 1999. introduction mr chairman too often, both in the reserve bank and, i suspect, in financial markets, we are inclined to lose sight of the longer - term, or strategic, issues of relevance to monetary policy. we get preoccupied with whether the official cash rate should really have been set at 4. 50 per cent rather than at 4. 25 per cent, as if this detail had any enduring significance for the real economy and the lives of ordinary new zealanders. i don ’ t want to imply that the short - term tactics are irrelevant – far from it – but they are very much less relevant than the longer - term issues, particularly when the official cash rate itself is explicitly up for review on a regular basis. so today i want to address the question, what can new zealanders expect of monetary policy in the long term? the monetary policy framework is profoundly democratic the first point to note in answering that question is that the answer depends on what parliament wants monetary policy to deliver. it is sometimes suggested that the reserve bank seems to be a law unto itself, and that don brash seems to run the country. nothing could be further from the truth. in new zealand, the reserve bank is subject to an act of parliament, and parliament can change that legislation by simple majority. this is also true in australia, the united kingdom, the united states and many other countries, of course, but it is not now true in much of europe ( where the european central bank is a creature of the maastricht treaty ) or in those countries where the central bank has been given essentially unlimited independence under the constitution. moreover, that act of parliament requires that, within the general directive prescribed by the act, the governor of the bank must sign a written agreement with the treasurer setting out quite explicitly what the governor must achieve during his or her term of office, the so - called policy targets agreement. that agreement can be changed by mutual agreement at any time during the governor ’ s term of office, and can be overridden by order - in - council if the government wants a change and the governor does not. so what monetary policy will deliver in the years ahead is essentially a matter for the public, through parliament, to determine. the reserve bank and i

benjamin e diokno : sustainability in investing speech by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the year - end market forum for maybank philippines'25th anniversary launch, 23 november 2021. * * * to finance secretary carlos p. dominguez national economic and development authority undersecretary rosemarie edillon ; ms. puan fauziah hisam, chairperson of maybank philippines incorporated ; ms. abigail del rosario, president and ceo of maybank philippines incorporated ; chua hak bin of maybank kim eng singapore ; guests, ladies and gentlemen, good afternoon. i am honored to be here at the year - end market forum for maybank philippines ’ 25th anniversary launch. since maybank opened its doors in the country in november 1997, the bank ’ s network has grown to over 60 branches nationwide. through your corporate social responsibility initiatives and various community and sustainability programs, you were able to demonstrate maybank ’ s brand of humanizing financial services. bsp commends maybank ’ s sustainability initiatives. we recognize the maybank group ’ s long - term commitments launched in july 2021, including the mobilization of 50 billion malaysian ringgit in sustainable finance by 2025, carbon neutral position by 2030, and net - zero position by 2050. we also commend the bank ’ s governance reforms reflecting its desire to integrate sustainability principles in its corporate structure. as banks take on the “ green and sustainable ” path, bsp provides the enabling regulatory environment to drive sustainable finance in the country. bsp is also leading by example. we endeavor to embed sustainability principles in everything we do as an institution, as guided by bsp ’ s sustainable central banking program. this program underscores the essential roles of the bsp as an enabler, mobilizer, and doer. as an enabler, bsp provides policies and structures that will support and facilitate sustainable finance. in this respect, we have issued the sustainable finance and environmental and social risk management frameworks. released in april 2020, the sustainable finance framework highlights the overarching principles of integrating sustainability and esg considerations in banks ’ corporate and risk governance frameworks, business strategies and operations. this framework also underscores the responsibilities of the board of directors in institutionalizing sustainability principles within the organization. supplementary to this is the environmental and social risk management framework. this framework gives