Very shortly, we will also be launching Malaysia's cross-border QR payment linkages with Indonesia, Thailand, and Singapore. Customers of participating financial institutions can now make retail payments by scanning QRIS, NETS, and PromptPay QR codes via mobile banking or e-wallet apps. As an added treat, we have merchants from these countries offering local delectables here today – do visit them and try making cross-border QR payments yourself! With that, I hope that you will find today's discussion enriching and enlightening, and contribute to the wider discourse on the state and future of our economy. Sasana comes from the Sanskrit word for message and education. It is my hope that the sasana we come away with will translate into important reform actions that will strengthen the foundations of our economy and propel Malaysia forward. Thank you, and have a productive Symposium. 3/3  BIS - Central bankers' speeches
MAS is committed to further reductions in our energy consumption, in line with public sector targets under GreenGov.SG. We aim to achieve this by: upgrading all fluorescent lightings to more energy efficient motion-controlled LED lightings; installing solar panels on the rooftop of MAS Building and Currency House; and adjusting the indoor air-conditioned temperature from 24°C to the energy optimal level of 25°C. We will focus on reducing air travel which typically accounts for close to 50% of our measured emissions. Emissions from air travel for official business has been rising due to MAS’ active and growing participation in international and regional fora. Going forward, we will look for opportunities to reduce air travel in line with new norms of international engagement in a post-pandemic world. Our biggest challenge is to reduce the environmental footprint of currency issuance. We are still collating emissions data on the excluded outsourced currency operations. We estimate they will eventually account for 40–60% of our carbon footprint. We are engaging our currency vendors to reduce their emissions upstream. Some of them have done so through sourcing renewable energy and printing carbon-neutral notes through carbon offsets. Ultimately progress on emissions reduction in currency operations hinges on a reduction in public demand for notes and coins. MAS will continue to promote electronic payments, the use of good-as-new $ notes for Lunar New Year, and e-gifting during festive seasons. If Singaporeans can reduce their use of cash, it will help to reduce the environmental impact of currency operations, and ultimately the carbon footprint of Singapore.