credits generated from the verifiable reduction of emissions can improve the economic case for many transition projects. mas has published a working paper with mckinsey that outlines how highintegrity carbon credits can be generated from future emissions reduction due to the early retirement of coal - generated power and replacement with cleaner energy sources. such transition credits can potentially enable a broader market - driven financing mechanism and help to crowd - in private capital at scale. we will be sharing concrete initiatives on scaling these financing mechanisms and announcing new partnerships to take them forward. finally, resilience. with long coastlines and heavily populated low - lying areas, southeast asia is one of the world's most vulnerable regions to extreme weather and rising sea levels. singapore can play a useful role in pioneering and scaling urban solutions to build climate resilience. let me highlight some examples. to address rising temperatures, we have piloted the use of cool paint on flat facades to reduce the amount of heat they absorb in the day and emit at night. we are exploring the use of smart sensors to collect wind flow data for more robust environmental models which enables achieving cooler temperature with better ventilation. to address sea - level rise and heavy rainfall, we are strengthening local capabilities and expertise. we have set up a coastal protection and flood resilience institution ( cfi ) singapore. this is a multi - institutional and inter - disciplinary research centre to advance domain knowledge as well as explore innovative solutions. to address potential disruptions in food supplies due to climate change, we have taken steps to build a more sustainable and resilient agri - food system. for example, we have plans for a high - tech agri - food hub that can raise food production capacity to up to three times of current levels. this future hub will harness technology for efficient waste management and reduce water consumption by capturing rainwater for farming use. in short, the singapore pavilion aims to foster active partnerships across businesses, research institutes, civil society, youth groups, and government agencies. it aims to connect across countries and sectors to drive change and create impact. 3 / 4 bis - central bankers'speeches i invite you to be a part of this collaboration and wish you a fruitful experience at the singapore pavilion and at cop28. 4 / 4 bis - central bankers'speeches

, which has seen promising results. 90 % of the 2019 cohort who were from non - tech jobs completed the programme and have taken on good tech jobs in financial institutions. another 530 are going through the programme from the 2020 and 2021 runs. i am pleased to say that ibf is launching the fourth run of this programme this year, with close to 700 training places – which is double the number offered last year. ibf and wsg will also launch a new wealth management accelerator programme ( wmap, pronounced as “ we - map ” ). wmap targets mid - career professionals with a passion for customer relationship management and an interest in pursuing a career in wealth management. the three - month programme will include structured and on - the - job training to provide participants with the skills to be licensed and hired into relationship management roles. seven major retail banks are participating in this inaugural programme, to fill close to 200 job roles. the third pool of local talent that we want to tap on is our network of overseas singaporeans. overseas singaporeans in finance and in technology are well placed to excel in singapore ’ s international financial centre. they have a solid understanding of overseas markets, useful networks, and good experience working in a cross - cultural environment. indeed, many returning singaporeans have progressed well in their careers and taken on leadership roles here. take for example melissa lim who returned from germany. melissa is a technology & innovation strategy director at standard chartered bank, where she is involved in driving the bank ’ s tech strategy and other transformation projects. prior to that, melissa spent five years in frankfurt, germany, where she was the head of investment platform transformation at allianz global investors, leading a global team to deliver strategic investment transformation programmes. melissa is one of the panellists for the relocation fireside later today, so do tune in to hear more from her. i hope that more overseas singaporeans – when you are ready to return home – will take up opportunities in singapore ’ s vibrant financial sector, grow further in your careers, and make a difference here in asia. as important as growing the singaporean core, we must continue to welcome and embrace high quality global talent. i know questions have been raised on singapore ’ s continued openness to global talent. first, the pandemic - related border controls were very difficult for many of our expatriate staff and their families. many firms faced challenges bringing in foreign manpower due to our border controls. today, we are