Bank of Canada joins Central Banks’ and Supervisors’ Network for Greening the Financial System

Introduction to Politics

Article 1: Press Release
“Bank of Canada joins Central Banks’ and Supervisors’ Network for Greening the
Financial System”
https://www.bankofcanada.ca/2019/03/bank-canada-joins-central-banks-supervisors-network/
In a recent press release conducted by the Bank of Canada on March 27, 2019, it announced
that it has collaborated with the “Central Banks’ and Supervisors’ Network for Greening the
Financial System (NGFS)”, as an initiative for promoting and implementing the concept of
green finance and adopting the best practices for climate risk management in the financial
sector. The Governor of Canada said that the Bank is proud of being accepted as the member
of NGFS and will take all possible measures to overcome the climate related risks for the
financial systems. This is a good initiative taken by the bank, as the climate related concerns
are rising day by day as indicated by the ‘Paris Agreement on climate change’. The climate
related issues are highly important for the monetary stability, as the natural environment is
the defining feature of the national identity of Canada. The collaboration will help in
greening the operations of the bank such as pursuing the LEED certification, promoting
carbon disclosures, reduction in waste production and energy consumption and such others
(Bank of Canada, 2019).
This article presents a good idea and sets a good example for other banks all across the world
to go green in their operations. However, the article does not provide information regarding
the benefit this initiative will cause to the society. Such measures taken by the organizations
improve the climatic conditions on the whole and thus, improve the environmental quality for
the entire community.

Article 2: Newspaper Story
“Philippines protests hundreds of Chinese ships around disputed island”
https://edition.cnn.com/2019/04/01/asia/philippines-china-ships-spratly-island-intl/index.html
The Government of Philippines has recently filed a diplomatic protest against China as
hundreds of Chinese vessels were found to be present illegally in an island under the
administration of Philippines Government in South China Sea. The governments of both
China and Philippines are involved in this dispute. The concerns of the Philippines
Government is justified in this report as the presence of more than 275 vessels is not a normal
incident and needed immediate concerns of the naval forces. However, the Chinese
authorities stated that these weapons could be the fishing vessels and unarmed but, the
concerns of Philippines are justified as they do not need to assert their sovereignty every
time. This act can also be a treated the society as it may be an initiative of China to enter into
the land of Philippines and plan any act, which can impact the freedom of the country. Also,
the same island is about to host military exercises between Philippines and the USA and thus,
it can be an act of China to breach the confidential information between the two nations. The
article presents the perspective of the Philippines Government more strongly than the Chinese
government in a way that it does not create any bias. The article presents the perspective that
no country must try to impact the sovereignty of any other nation or breach the
confidentiality protocols (Cable News Network, 2019).