This shows the importance of international coordination also when it comes to crisis resolution. Thank you for your attention. BIS Review 113/2010  9
Fraziali Ismail: Climate action in the Malaysian financial sector Keynote address by Mr Fraziali Ismail, Assistant Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the International Greentech & Eco Products Exhibition & Conference Malaysia, virtual, 20 October 2020. * * * To date, there is a genuine buzz in global climate action. The Paris Agreement, with 197 signatories, provides a pathway for nations to step up their climate mitigation and adaptation efforts. The UK for example, is committed to a ground-breaking target of net zero carbon emissions by 2050. There is zero budget natural farming in Andhra Pradesh in India, the great pivot to natural farming in China, the wide spread adoption of electric buses in public transport urban fleets all over the world, including Malaysia. Seventy two central banks and supervisors around the world, including Malaysia have come together via the Central Banks and Supervisors Network for Greening the Financial System (NGFS) to pursue climate action. This coalition of the willing has initiated several initiatives such as identification of best practices on supervisory and macrofinancial dimensions of climate-related risks. The issue is clearly now being mainstreamed in discussions at international and state levels, among regulatory agencies, at board levels across industries, in schools, and the list goes on. But while the hills are covered, there are mountains ahead. Green financing is still lacking; green investments remain under funded.