We need a regulatory framework that encourages prudence, requires maintenance of adequate capital in relation to the risk in the balance sheet, and that deals with issues in liquidity management. And this must be coupled with close off-site and on-site monitoring of compliance with the regulatory requirements. In Mauritius, the banking system continues to be sound, stable, well-capitalised, liquid and profitable.
Indeed, it has to be, as climate change is an existential threat to the future of our planet. People sometimes think that climate change mitigation is difficult or a relatively new challenge.