Let me start by saying I think that the world should be pro-growth. The answer to the future is economic growth. It is not protectionism, or putting in place barriers, so that the world shrinks.

Each company should focus on sustainable development and growth. At the end of the day, the world should focus on getting individuals and countries out of poverty. Therefore, inevitably, as we push for this we will face challenges on climate, on water and air pollution. Personally I believe that water shortage may well be the most challenging issue that the world faces in the next century.

But you know, I always reflect on the fact that had I said before becoming chief executive of Standard Chartered that in the coming years we would see 9/11, Sars, tsunami and New Orleans people would have had me locked up. You all have to reflect on the unexpected events that have happened in the last decade, and indeed in the last 20 years, you all have to individually play a part in being responsible. We mustn’t overreact to situations, but nor must we underreact. We need pragmatism and balance.

There’s one issue that we all need to focus on with great urgency, and that is financial inclusion. By financial inclusion, I mean the provision of financial services to poor people who would not normally have access to finance.

The great thing about this podcast is that I have no idea who you are, or what your background is, so I can’t predict any preconceived views you have about what I’m going to say. But what I do know is that you have access to a PC. If we presume that internet access is a proxy for wealth, this puts you in the top 18 per cent of the world’s population. And while you may very well have experienced the reality or effects of poverty, you are unlikely to be living in poverty today.

As the chairman of a truly international organisation I’m fortunate enough to travel frequently. My travels take me far and wide, and on my travels I’ve seen first hand the catastrophic effects of poverty. No individual, global company or national government is insulated from the devastating impact of poverty.

Many people think financial inclusion came about as microfinance in Bangladesh 30 years ago. This is just not true. Financial inclusion is not a new concept. No one quite knows really where it began. Examples include the Chit funds in India, the Susus of Ghana, and the credit institutions of the 19th century in Europe.

So if microfinance has been around for centuries, am I crazy to talk about financial inclusion as a new, innovative business idea that will change the way we live our lives?

As I’ve said previously, we live in fast-changing times. The world really is changing in a way that we can’t predict where it is going and how it is going to change. But I think that makes life, and our lives in particular, very very exciting.

Today countries in Asia such as India, Indonesia and China are booming. I believe that in the future there will be 25 world cities that really matter, and over half of these cities will be in Asia. For example the current population of each of Shanghai and Mumbai is greater than that of the entire population of the Netherlands.

The strengthening of China and India will impact the way we all live our lives. As China opens up, we will see a re-positioning of global brands to sell into China. We see increasingly frequent examples of investment into Europe by Indian, Chinese and other Asian companies alike. But what is clear is that this growth needs to be sustainable, and this is where financial inclusion is vital. It means not just the provision of loans but also of current accounts and insurance and other banking products. The success of these countries is being driven by emerging middle classes and a strong entrepreneurial spirit.

China recently announced that they’re encouraging rural finance in six major provinces by inviting financial institutions to apply for licences to provide microfinance products to farmers. Now this is a great step in ensuring the sustainability of China’s growth.

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