the bank of albania has decided that - without prejudice to its legal mandate of price stability - to give its contribution in this regard. our efforts are focused on three directions, as following : first, monitoring climate risks and strengthening our analytical capacities in this area. at the moment, we have to admit that there is a huge gap in climate - related data. however, overcoming it as soon as possible would establish premises to further improve our macroeconomic models, scenario analysis and risk assessment. in turn, this helps us better calculate climate risks and the implications that the transition to a carbon - neutral economy may have. in the last years, the bank of albania has increased the knowledge on the economic and financial consequences of climate change, through the scientific researches in this regard. second, promoting green finance. to this end, we have recently approved the " strategy for the management of financial risks related to climate change, 20232025 ". the purpose of this strategy is making banks aware on the need to identify, measure and monitor the risk that comes from climate change, until the issuance of complete guidelines by the european banking authority for the 2 / 3 bis - central bankers'speeches inclusion of this risk in the supervisory processes. meanwhile, in the current year we plan to draft a climate risk guideline in order to encourage banks to include climate risks in their framework on risk management. in this process, the alignment with the ecb initiatives will also be considered, taking into account the practices of other countries as well. third, strengthening collaboration with national and international partners. addressing risks of climate change and transitioning to a sustainable economy are global challenges. therefore, the share of information, expertise, as well as the recognition and implementation of best practices to handle climate change, are crucial elements for successfully addressing this challenge. we work with the albanian and international partners to increase knowledge, awareness and transparency on climate - related issues. since 2020, the bank of albania is a member of the network for a green financial ngsf ), while we have been collaborating for a long time with the world bank ( finsac ), the state secretariat for economic affairs of the swiss government ( seco ), vienna initiative, and others intuitions. we are also working to reduce our environmental impact by implementing measures to save energy. dear participants, thanking you for participating in the launching of the ebrd regular transition report, i kindly invite you to become an active part of discussions on the messages it provides and try to reflect them

uk and the european union is one of them. the anti - globalist movement and barriers to the free movement of goods, people and capital appear as harmful to the overall global economy. however, their negative effects fall disproportionally on emerging countries, such as albania, and the western balkans in a broader sense. let me know outline our assessment on the potential negative implications resulting from brexit and the relevant effects on the central banks in the region. 2. potential implications resulting from brexit for albania and the region brexit is certainly a determinant factor for the european union and the euro area. as such, it has left its mark in albania and the region. it may be accompanied by direct or indirect, short - term or long - term negative effects in the labour, goods and services markets. overall, the direct implications for albania and the region are assessed as minor ones, given that 3 / 4 bis central bankers'speeches trade exchange with the united kingdom is low. to illustrate my point, the export of albanian goods to the uk accounts for only 0. 2 % to the total over the past ten years, whereas the share of imports amounted to around 1. 1 %. the stock of british foreign investments in albania shows low rates, whereas the impact of emigration and remittances indicators is somewhat higher, but still a non - determinant factor. on the other hand, indirect effects would depend on brexit ’ s impact on the european economy and banking system. brexit may also translate into institutional developments that will affect the rules of european economic and financial market development, as well as european integration processes. in other words, implications for albania and the region potentially exist, but still remain difficult to identify. i would rather not dwell very long on this topic ; however, i do believe that today ’ s discussions will help us understand these processes and assess in advance the potential political and economic implications and consequences for our countries. i would like to stress that all of us in the western balkans remain hopeful that brexit will not generate centrifugal forces, which harm our european integration processes, initiate setting barriers to free trade and movement of people, and encourage further fragmentation of the european financial system. 3. monetary policy and financial stability in the post - brexit period the coordination of the monetary policy with the necessary measures for safeguarding financial stability remains a challenging issue for policy makers even in better days. the challenges to this