the risks and opportunities related to sustainability, it is less clear how it should go about this. usually, the first thing companies want is a strategy. now, if we want to combat climate change, if we want a sustainable economy. wouldn ’ t it be wonderful if individual companies ’ strategies would somehow be aligned with a much broader world strategy? wouldn ’ t it be wonderful if such a strategy for the world existed? if we are all in the pursuit of happiness, if all men are created equal, not just those of us living today, but all men and women that will come after us, shouldn ’ t we urgently formulate a strategy for the world? fortunately, the world does already has such a strategy : the sustainable development goals of the united nations. and, keeping that in mind, a suggestion i would give to companies is : innovate, while using what ’ s already there. join a platform, cooperate, form strategic alliances ; get an overview of what ’ s happening ; connect with others. today is a great example of just that. for example, the netherlands banking association has recently launched a public consultation document proposing how the dutch banking sector can support a number of the un sustainable development goals. businesses could follow suit by launching a similar initiative. we cooperate on this matter as well : the dutch central bank is part of the g20 green finance study group and of the european high level expert group on sustainable finance. this expert group is mandated by the european commission to come up by the end of this year with nothing less than a comprehensive strategy to turn eu financial regulation green. it will publish its interim report by means of public consultation by the end of next month. if you want to directly influence eu green finance strategy and policy please don ’ t hesitate to send in your comments. using our convening power on a national level, the dutch central bank created a national cross - sectoral platform for sustainable finance, bringing together representatives from all over the financial sector as well as the relevant ministeries, and stimulating the creation of working groups that take on a range of sustainable finance issues. one of these working groups works on sdg impact measurement and consists of a several dutch insurers, pension funds and banks together with major multinationals such as philips and unilever. their goal is to develop a methodology that will allow them to assess the impact on the sdgs of any investments they make. if investors around the world start doing this on a large scale, you can

word of welcome by klaas knot, guug - cpmi - iosco hg workshop – de nederlandsche bank, 25 april 2017 welcome to you all here at de nederlandsche bank. welcome to this highly relevant workshop. today you ’ ll be paving the way for an optimal governance model for the unique transaction identifier, the uti. that ’ s quite a challenge. for without an effective and efficient governance we cannot ensure a globally consistent high quality of the data used in the industry. and high - quality data are just what the industry and regulators alike urgently need. since being a member of the financial stability board, i have become increasingly aware of this. for both the public and private partners attending today, i won ’ t need to stress the great benefit that high - quality data will bring. ever since the 2008 crisis, otc derivative counterparties have been facing a rise in the burden, and consequently, cost of mandatory reporting. a trend that is the effect of bad quality data. this trend can be reversed once we have utis in place, along with unique product identifiers, which will be briefly discussed as well today. for then a trade report will be suitable for use by various regulators as well as for micro - and macroprudential analyses. high quality data are independent of jurisdictions. if designed and implemented well, we can finally match transactions between counterparties on either side of the atlantic. supervisors with a microeconomic scope need high - quality granular data. and international regulators want the full picture, based on high - quality aggregated data. evidently, regulators and the industry both need financial data that are comprehensive in scope on the one hand and detailed enough, on the other. detailed enough for assessing and monitoring risks and vulnerabilities on the part of counterparties and on that of the financial system. high - quality granular data fit for aggregations can provide the analytical input policymakers require to make informed decisions. in order to serve this purpose, the data must have the right scope, be easily accessible and meet the highest quality standards. the legal entity identifier project is a case in point. finally, here ’ s a global register for identifying all counterparties active on the otc markets ; a register that can be used by both the industry and all regulators. so, ideally, the governance structure you are building today, should ensure we can continue to have usable and reusable high quality data. and once the