 Right good afternoon everybody lovely to see you all back again. My name is Dionnell I'm the CEO of the global resilience partnership and Really great to follow the amazing panel we had earlier on I really like the combination of sort of the rational thinking that it only takes 10% of what we're currently investing in the energy sector to To transform at the reality of what's being faced in the Gambia as well as the honest and human and emotive component that we saw from The extinction rebellion and youth representatives. So really very good start But the first the previous panel was meant to lay out the challenge and the urgency with which we need to act and now this group the the challenge of this group is is to describe how we respond to that challenge and we've very happy to have such a diverse panel with us and I think the central principle of resilience is that Decentralized and inclusive decision-making especially in uncertain and Unpredictable situations decisions are best made closest to the ground. These are the people who understand the situations best unable to respond best to these Challenges so the subject of this panel discussion is getting money to where it matters the most So getting those who are at the front line of these impacts In a position in which they can respond to the challenges that we're facing And I really like the the title of this this session leading from the front because I think we need to get on the front foot We need to lead from the front But we also need those who are at the front line of these impacts that we're facing to have a better leadership role in the decisions We make So this is really what we're wanting to discuss We heard in the last session that those who contribute least to climate change are bearing the most of the impacts and yet Only about 18 percent of international public climate finance is and even less of private Finance is lead is reaching the least developed countries So money is just not reaching the places where it is needed the most But I think I reiterate that we should not slip into a mentality of victimhood here That this is not a narrative of the global north helping the South We're all in this together and this is a narrative of unleashing the creative potential of those that are at the front lines of climate impact So I think broadly if we look at the panel, I've got a full panel Yes I'm going to ask my panel to try and stick as much to the timelines as possible Gabrielle He has going to be flashing a time card or telling you to Start wrapping up when your time has come so please if I can ask you to to stick to your time of about five minutes To seven minutes if you have to in your initial interventions And then we're going to try and take as much interactive discussion as possible and the way we have it here We have three speakers who are very well equipped to describe the challenge that we're facing So we have the Honourable Minister Sam chiptores Minister of order environment from Uganda We have a representative from the Government of Tanzania miss Lucy sendy and we have Beth Chatecqua BT who is the Deputy Director of slum dwellers international these are organizations and Countries and governments that are at the front line of these impacts So what I'm going to do is take interventions from them We're going to then stop and take a few questions to make it interactive and then move on to the rest of the panel To describe some of the responses. So we have people from the adaptation fund. We have a differed representative we have insurance sector Willis Towers Watson and We have the renewable energy and energy efficiency partnership Represent and I will introduce those people to you as they Have their their turns to speak so I'm going to start off then if if I can with the Honourable minister Minister Sam chiptores from the Minister of water environment in Uganda Minister you've been you've been cabinet minister of water environment in Uganda since 2016. You've also served on the Nile River Council of Ministers not an easy task. You're well equipped with dealing with complex issues Now if I look at some of the statistics, I see that the green climate fund says that they're Investing about seven hundred million dollars in Uganda. I Look at the global environment facility and I see they've approved five hundred million dollars for Uganda But when I look deeper into the the list of projects, I see that most of these projects are being implemented by UN agencies So minister, it would be great to hear from you. I think you're well equipped to Describe to us whether the climate finance that you're receiving one is enough to Meet the challenges you're facing But also if it is actually reaching the people the communities that need it the most minister over to you Thank you very much Good afternoon, ladies and gentlemen I would like first of all to Sing the mayor of London For convening this is a very important conference I would like also to thank the government of UK and IED For for inviting us to participate in this very important discussion as we are all aware Scientific evidence as it's now clearly confirmed that climate change is real Under with us. I Think all of us agree Except perhaps one gentleman in Washington who doesn't agree But I think all of us are convinced That climate change is real in Uganda We have learned painfully That climate change is real and And the interest it is impacts are devastating in 2010 landslides on Mountain Elgon Killed over 40 people. This is in the mountain area of the country in 2016 Many other people were killed in the same mountain and the other side of the mountain In the Volambuli district that is Near where I come from Also come from Mountain Elgon and then 2017-2019 just a few months ago The same landslides killed about eight people in the same area government Try to relocate to relocate these people in fact There are over 10,000 people who require to be relocated to safer areas But so far we have only been able to move About 100 people Because you have to provide housing you have provide water you have to provide electricity rods schools so these people are still in those areas and The government is doing all the time to move them But because there is so simple a bit small we cannot do this at a go the frequency of Droughts what I've been experiencing a lot of drought And some of you may aware And that Uganda is dependent on the rain for agriculture 98% of our farms depend on rain We wait for God To irrigate our farms and somebody was telling me this morning what I was telling him you said even to God needs help So we need irrigation we have Produced an irrigation master plan for the country But this requires a lot of money to to implement But we have started We have started we have we have got We have started a few irrigation schemes and in fact small irrigation schemes Which we expect that some of our citizens with the means Can replicate them on their farms But we urgently need irrigation although our emissions are almost negligible We produce 0.1 percent of the world's greenhouse gases Although although this is almost negligible some of the activities we undertake In our day to today day today in the country our people undertake Excercise bed the problem electricity and gas is Beyond the reach of many people So our people are forced To use firewood for cooking In fact The use of firewood For cooking the use of firewood and and building materials has reduced Reduced our forest cover from 24 percent in the 1990s to now about 9 percent This is a very serious problem and Although we have a lot of electricity It is still expensive because some of the International companies That helped us to To put up these dams charge the exorbitant amounts of money and we Government has to pay the people have to pay this money within a certain time That is why electricity is still expensive Uganda's welcoming policy towards refugees has also created problems We have We have over 1 million refugees in Uganda and You know these refugees come without anything So if they want to cook they have to depend on the trees if they want to build they have to depend on the trees and these ones have even contributed a lot to deforestation in the country other problem your first is with the Chinese introduced powder rice Before that we did not produce rice in the country But when the Chinese came they introduced powder rice The consequences of this are that our wetlands have been invaded The wetlands have been invaded not only by the Chinese, but also now by Ugandan's who have Invaded the wetlands to grow rice and I It is it is government has been Thinking of a big thing these people from the wetlands But you cannot simply evict a somebody without providing alternative Livehood so We are trying to look for money to see how we can compensate these people so that our let our wetlands can be freed from encroachment These are and the many others are eliminated in our NDCs our ambition is to decrease our greenhouse gases gas emissions By 22% by 2030 so One day international community pledged That they would provide a hundred billion dollars as climate finance We're all excited We thought now Would deal with this problem of climate change However, as you all know Money has not been forthcoming So we expect the international community We expect the international community To fulfill this obligation now We have a problem with this money when even when this money is available There's a big problem with it Accessing it is a nightmare. It is very difficult to access climate finance Very very difficult the apart from the fact That most least developed least developed countries don't have the knowledge and expertise To prepare bankable projects apart from that the accreditation process Leaves a lot to be desired, you know before you access some of this money you are expected to be accredited and This process of accreditation accreditation is extremely long and a cumbersome the financial institutions Demand a lot of documents and And So many You give this the asking for another it is no wonder that sometimes we abandon the whole exercise and and I decide and hope to use Some of this Intermediaries intermediaries such as UNDP for instance We had we we used the UNDP to get the money from GCF We're in climate fund. Now when this money is availed when when DC Intermediary such as any UNDP Get this money the normal charge between 10 to 20 percent as Commission so that one 10 to 20 percent goes to These institutions and then Part of this money is used to pay consultants and when it reaches the country Like for instance street when to reach Uganda expensive vehicles are bought In fact as a minister we're making a lot of noise But they tell me it is in the contract very expensive vehicles are bought so that What really reaches? the communities is probably 10% of Of the money what reaches what really? Freak was down to the community is probably about 10% the rest of the money has been taken by This institutions Went to which is national governments. Those ones want to buy vehicles instead of using a pickup They want to use land cruisers Big land cruisers in fact in my minutes prior use a smaller vehicle I use a smaller vehicle than my technical people because they are the ones who control the money for Us politicians they give you a vehicle for you They know that we are temporary any time You can leave office and enough for us every five years we have elections and Uganda's history that members of parliament very few survive after five years 90% are thrown out so this technical people know that The hammer is coming for us in fact In the next one year we shall be having elections and I think I'm on my way out Yes, oh Sorry, sorry, sorry, I was enjoying myself I was enjoying myself So in that in light of the above challenges We feel that We should not lament least developing developing countries developed countries should also Ensure that they participate in They contribute to reducing the effects of climate change It should be a partnership between this developed countries and Our friends from the developed world. We should all Have a partnership We contribute the we also contribute we should not only in fact what? What was what I was when Discussing this morning with somebody was saying We can be able to Get money from our budgets. We can mobilize our people for instance to do certain things in Uganda for example our country is mountainous but We can mobilize our people To have what they call terracing This can be done We can also mobilize our people to plant trees For instance our government provides about 20 million trees every year free of charge our people can plant trees So what we need to do is we people should we play our part as third world countries? With our efforts being complimented by the developed world. So let me stop there. Thank you Thank you very much for that Very good Description and and ending off I think on a great point Which I I think is the essence of the sustainable development goals to move away from a world where the Global north is funding development in the in the global south to one where we're working on this together It's a partnership that we're all working on together And you describe some of the challenges of getting money onto the ground where it matters So I'm going to turn now to miss Lucy sendy who's representing the Tanzanian government and Lucy was a previous deputy director of economic and productive Sorry the previous director in the department of Economic and productive sectors and now is a senior climate change advisor to that group She also Advises the least developed countries group. So Lucy perhaps you can give us an explanation from the Tanzanian perspective Are you facing similar challenges to what the minister has just described? Yeah? Thank you facility data moderator for for this opportunity Good afternoon ladies and gentlemen Tanzania is one of the least developing countries faces the similar challenges and The honorable minister from Uganda and also from the Gambia have clearly outlined What are the challenges of adaptation in countries like Tanzania, Uganda and Gambia? But I just wanted to add more challenges specifically to Tanzania Tanzania is a big country But 56% of Tanzania is dry land So you find that communities of Paso Ariesian farmers Make their living from rain-fed agriculture and also from rain-fed livestock keeping so This climate is also Influenced by different patterns of rainfall increasing temperatures and also incidences of drought and floods But the most important thing is that Tanzania depends on agriculture for its Economic development and it about 65% of the workforce Is employed in agriculture and most of them are women and youth So the vulnerabilities in terms of gender Dynamics is also Huge so this makes Tanzania and the other developing countries to be threatened by climate change and not only their livelihoods, but also on the nation's ability to fulfill its own International obligation such as the sustainable development goal so a country like Tanzania Uganda or Gambia must take urgent action and We have heard that the governments and their people should also think on how to contribute on how to Develop interventions that will bring resilience to their people I want to talk about financing because financing for climate change is a big problem and for country like Tanzania which has developed its National climate change strategy it needs about 500 million US dollar per year plus its own resources But from 2000 up to now the development and international communities in Tanzania has only recorded 150 million US dollar of support so you can see how the gap is and We have also been made aware of the long processes of the big Climate change funds like the GCF or maybe the adaptation fund, but then most of our countries end up being accredited for the small or micro Size and this is about 10 or not more than 50 million US dollars per project And most of the projects will be for three to five years, so what I want to say is that there is a significant finance gap and This should be overcome by the government themselves and also the other partners as soon as possible I would also want to share a little bit on the Lifewear initiative and that Tanzania Puts his support behind the lifewear initiative because most of the initiatives in this initiative They are the ones which we are currently doing so if we can relate ourselves to the lifewear It talks about decentralized climate finance talks about social protection talks about Rapid transit talks about all the other projects which are also doing in our country so we think maybe this is a Very good initiative for us. It is our own own bread and we think if it is supported Then we are sure that will make some huge steps In terms of local climate finance Tanzania is implementing a project which is known as decentralized climate finance mechanism and Tanzania through the president's office regional administration and local government is working with the consortia of National and international and local partners to make sure that money is taken where it matters and This mechanism Has been piloted in a few districts, but it has already shown good successes Where the districts or local governments have been able to establish? District level adaptation funds and also they've been able to establish a community committees and also electing community leadership and also the project has assisted communities to use resilience planning a Communities have been involved in planning and also Communities have been made aware on how to use Weather information services, so we think that building on this pilot Tanzania is On the right track to make sure that money goes where it is needed most and Tanzania in implementing these projects It has made Commitments it has made commitments through the project to make sure that the finances which goes to communities is About 90 percent 70 percent is being prioritized by communities and 20 percent is being prioritized by local government authorities for actual investments and Only 10 percent is used before administration, so we have said tested this and We have managed to develop about 35 projects The project has ended in the first phase But the projects are going on well under the supervision of the local government authorities and Management of local communities So we think this can be done and we think if they are there any other countries who would want to Implement a mechanism which ensures that the communities are empowered to make their own decisions to plan and make Priorities then I think maybe we can talk about the decentralized climate finance Let me conclude my talk by saying that This decentralized climate finance is also Implemented in four three other countries. It is implemented in Senegal Mali and Kenya and I know there are other countries which are also in the process of Implem using this mechanism. So what I want to say is that there are many lessons that we've learned and This include the delivering of local climate finance To improve the scale and also the effectiveness and also to help governments to Access and distribute in your ready existing financial management architecture Tanzania has shown that it has the ambition and the capability to be a world leader in delivering effective appropriate adaptation initiative that have a potential to be transformative and We think it is time that The changes are made into these international funds the changes are made into our Partners the international organization to make sure that money gets where it matters Business as usual is not working and I think this is time for real change. Thank you Thank you so much Lucy and so a very clear example of how we work at a local government level or a Subnational level to build the capacity of those Institutions to be able to accept finance a great initiative and very positive to see that you hear that that is working well And it's a replicable Lucy. So thank you so much for that now. We're going to move on to grassroots civil society organizations So we're going to move to Beth Chatecourt BT who's the deputy director for slum dwellers international now STI is Described as a global social movement of the urban poor And a network of community-based organizations across more than 30 different countries I think my experience of slum dwellers International what they do so well is having their feet on the ground being embedded in local grassroots civil society organizations But still being able to reach at a global level and and to be able to engage in Global processes so wonderful to have an organization like that Sheila Patel the founder and head of STI is on the global Commission of adaptation that was spoken about in the previous Previous panel so from your side with your your your organization is at the forefront I mean, what are the challenges that you're seeing in terms of the the funding reaching your organizations that you work with? And it's lovely to be here. It's great to always come to London when the weather is kind I Think as STI what we have done over the last 20 years is to create aggregations of the even poor across The country's way we're working in to develop very systematic processes that look to not only developing conscious and Collective mechanisms to address local challenges One of our flagship programs is around data collection where communities of the even poor collect data around in their communities And they use this information to negotiate with local authorities around Service provision or or tenure security the information collected that not only shows Sort of like deprivation so for instance what toilets are not there or what tenure is not there, but also looks at what adaptation Strategies people are employing or what challenges can be attributed to climate change that are resulting from from the The deprivations that people face so one aspect that I spoke to in a meeting that we had earlier in the morning is around how sort of like the nexus between solutions to climate change and Full-scale evictions for communities that are living in in our communities in Sort of like spaces that might not might be perceived as Unfavorable the minister from Uganda spoke about Communities that have gone on to wetlands and Unfortunately in some cases when when when government seeks to address these challenges It results in full-scale evictions. So for for for us the data we are collecting around Looking at climate change is all not only looking to see What is not there, but also how can communities in partnership across the divide with city governments with Development agency can actually develop solutions to climate change that do not result in further Shocks being visited upon already vulnerable communities I think if we I like the This tagline leading from the from the front and you can you can interpret front is too like as in in front Or is in a front line where the action or where the the fight is where the war is and if we are to be true to the ambitions of the SDGs we require ambitious Programs and new ways of doing things new architecture. I think the last two panellists have spoken about the the inadequacies of the existing Architecture around our climate finance And we see this or if governments for instance can't access climate finance How you can imagine how communities of the ebb and poor or coastal or associations of Pastoralists would would fare in those instances. So we we think that there is Actually an agency to develop an architecture that can actually deliver Two people were actually doing something on the ground and it is our contention that People who have to live with these issues adapt anyway. They have to they have to they have no choice So if there's a flood they are going to build a makeshift bridge if there's a fire They are going to find a way to address that but there is an opportunity for all the stakeholders that are there to actually Contribute to changes that are actually significant and at scale and lasting And I think this is where we have an issue in that this is where our actions and our minds need to To come together to figure out why if everyone agrees that Resources need to be in the hands of those that are most affected. Why is it not happening? Where the shortfalls? Why is it? You you you would be addressed to find anyone who would argue with you if you said Pastoralists require to be equipped with resources whether they are financial whether it's Capacity to be able to address their everyday challenges You'd be hard-pressed to find anyone would argue with you to say that the ebb and poor who now are a billion living in slums require resources and capacity and Partnerships to be able to address the issues that they face on an everyday basis But perhaps our challenge is a collective is to look at what kind of what is it that we need to unblock These issues that are at the at the fall of what is looking these resources that have been made available but are not getting to where they need to get and I think one of our take line is this day has always been that the resources of the ebb and poor matter So none of the poor from the world are coming is begging begging They they have resources they've the viral commission who are our partner in this conversation If an adaptation fund that has been giving loans to communities to address incrementally small Local actions at the community level SDI set up About ten years ago in ebb and poor fund We where we put we were able to get a ten million granted We've managed to leverage it to nearly a hundred million now in Land in housing in sanitation, so they obviously our models across there that actually can can demonstrate scale We have set up city funds where local authorities were cash-strapped are able to put in even the smallest that That they can to to to leverage resources that the ebb and poor themselves ever ever Set aside my sense is for us to move forward we have to think It's kind of like to put all this issue on its head a bit and see how how how do the ebb and poor communities give each other Or I keep saying ebb and poor communities because that's where I'm coming from But I would like to include pastoralists I would like to include all these other social movements that are working on natural resources How do they use resources and they don't ask for massive amounts? These are these are very small incremental loans that are managed at the local level and that can create change Incrementally, and I think they these systems need to be flexible. They need to be easy They need to to trust that there is Some accountability in those local communities that communities can actually hold each other accountable for resources And that they have systems and that and this includes local authorities as well These systems need to trust that that process can if it's not there It can be built through peer learning if it's there It can be enhanced and made better And I think this is how we can kind of like shift this forward and I will reiterate again We communities collect data. They know what where where the what what sports are they they Experience that they have this information and there is a An opportunity to build on that capacity with new knowledge with new technology I think it's a travesty that there is this money that's sitting some way and it's not being used or it's not being accessed And I think we have to challenge ourselves and ask ourselves. Why are we not moving? Why is it? Why are we not making the change if there is this agency? Why is it? Why are we not making the change and I I believe in SDI and our partners why re in Wimbledon. Yeah, we are very willing and open to move this Sort of like ship forward is it way. Thank you So that's a very interesting topic of these local Fans these frontier funds I think they refer to in many ways that are drawn that are built from grassroots Organizations that are able to then provide loans and funds micro loans and micro funds at the level that it matters and To be able to promote those funds is I think a massive Opportunity for us, but I presume bet that this not only requires movement on on your side on the civil society Organization but also providers of capital into those funds It'll require two sides of that argument to come right. Yeah, right I'm gonna break now because we've heard now three speakers outlining the challenge of getting finances to where it matters the most and Take any questions from the audience at the moment. I have one right up here off the bat over to you One of the main themes is that there isn't enough funding however when we look at military spending and how much money is fuels the military industrial complexes in all of our Countries we noticed that not only does it take up a lot of money, but they are among the biggest emitters of Carbon dioxide So my question is especially to our guests who Sit with the fellow secretaries of defense. Can you look them in the eye and Say that you must reduce your carbon emissions and your military Activities can we also look our politicians especially in the global north in the eye and tell them to stop supporting Fascist military regimes for corporate benefits the same corporate benefits that have helped us reach where we are today Thank you good Very fundamental question Let me see if there any other questions that we could take before we go on any further questions I've got two at the back. We'll just take these three for now if you don't mind and then we'll move on to to the rest of our speakers as well just Hello, good afternoon Mark Harvey from the resurgence urban resilience trust I'm wondering if the panelists think that there is something to be learned from the the more agile Mechanisms coming out of the forecast based financing sector or even the insurance sector Or do you think actually because they're often linked to time-sensitive events that they're less suited to tackling some of the kind of the the longer term perhaps less time-sensitive kind of adaptation issues that we're also discussing on the panel good Thank you so much, and I think we we have someone on the panel who will love to take that up Simon I'm sure you'd love to take it up in a moment Right one more question over there It's not better. There we go. Perfect My name is John Swart. I'm with the Bretton Woods project here in London I'd like to ask the panelists who've spoken if they have any reflections on the role of the World Bank and other Multilateral development banks within the sort of climate finance architecture and in particular this issue of getting fun funds to the front line It's really welcome any thoughts you might have on whether they're playing a productive role and how they could be How they could better serve the LDCs from your perspective Perfect. Thank you so much. So those were three very interesting questions starting from the amount of money that we allocate to spending to the use of more agile forecast based Financing mechanisms and the role of the World Bank What I'm going to suggest now is that we move on to the rest of our panelists and the rest of the panelists should be Thinking both of what was said by the previous panelists in terms of setting up the challenge but also thinking of these questions that have been posed from the Audience in in your response. So if I if I could move on then for a I'd like to move to you. So for a Madziwa is the coordinator of the readiness program at the adaptation fund now the adaptation funds readiness program helps to strengthen the capacity of National and regional implementing entities. So these entities that the Honorable Minister spoke about Lucy spoke about these entities that are implementing Financing activities to be able to receive and manage these climate finance. I also know in my home country for a You have a small grants program, which has been very successful providing micro grants to where it where it is needed the most For a how would you respond to some of the challenges and what is the adaptation fund doing to respond to some of these challenges? Well, thank you very much Dion and Thank you for the invitation to come and participate in in this panel I'm not going to respond directly Because I want to give a little bit more information about the adaptation fund and what the adaptation fund does And through that I'm hoping that I'll also address a lot of the issues and and challenges mentioned by the previous speakers. So the adaptation fund Was established in 2008 under the Kyoto protocol. It's a fund established under the United Nations Convention on Climate Change So it's a constituted body under the the UN convention As of January of this year the adaptation fund is also Or has also been formally serving the Paris Agreement and there are only Four constituted bodies that are formally serving the Paris Agreement the others being the Green Climate Fund The least developed country funds special climate change fund Both under the global environment facility and also the adaptation fund is a fourth one So the adaptation fund finances concrete projects and programs that are based on country needs Views and priorities and that also helped vulnerable communities in developing countries adapted climate change And the primary strengths of the adaptation fund is direct access modality I'll get into a little bit more about that later It's streamlined an efficient project cycle where we have a results-based project implementation and disbursement process We also have partnership with civil society and in particular We involve civil society in direct engagement on project monitoring and also the adaptation funds ability to accommodate innovative funding sources So the overall portfolio of the adaptation fund is that to date we We have committed over half a billion US dollars to some 84 plus Concrete projects that are implemented on the ground by developing countries and To date the adaptation fund board has approved a little over 303 million US dollars to finance 24 concrete and localized climate change adaptation and resilience project in least developed countries And these are in Africa and Asia the projects implemented by the LDCs are all country-driven and are based on the needs views and priorities Of the LDCs and in addition four of these projects under implementation via our direct access modality and what the direct access modality does is it enables national implementing entities which are entities identified and chosen by the Governments of developing countries themselves to directly access financing from the adaptation fund and To manage this financing all aspects of this fund financing including identification of projects Project design implementation and monitoring so the whole project lifecycle is under the direct management and supervision of the national governments if you will of national implementing entities and the adaptation fund was first fund under the United Nations convention to operationalize this direct access modality Globally and now of course we are also talking about enhanced direct access which gives a little bit more control In decision-making to the recipients of funding to actually make funding decisions to local Submitted projects and proposals and the small grants project in South Africa for example is one of those Projects that are implementing enhanced direct access so through the readiness program of the adaptation fund the fund provides readiness and capacity Building support to strengthen the capacity of developing countries to receive and manage climate financing and to help National implementing entities because these are the entities that can access that can use the direct access modality to receive and manage Adaptation financing and to navigate the funds project lifecycle so the readiness program upholds the adaptation funds inclusive driven process In its approach to delivering readiness and capacity building support In an effective and sustained manner So in addition the readiness program also provides knowledge transfer and learning between entities And with climate change stakeholders to enhance direct access to adaptation finance The fund is constantly evolving. It was established in 2008 But it has been changing in response to the needs and the dynamic nature of capacity gaps and challenges some of which We've heard here today in accessing adaptation finance and particularly those challenges and gaps faced by LDCs and SIDS And so in October of 2017 the adaptation fund board adopted the funds medium-term strategy This is a five-year strategy running from 2018 to 2022 and this strategy Emphasizes and is anchored on three strategic pillars which are action innovation and learning and there are four cross-cutting themes that underpin the strategy one of these cross-cutting themes is Long-term institutional and technical capacity for effective adaptation now the importance of these strategies that it opens It has enabled also new funding opportunities and new funding windows for developing countries and some of these Innovation grants that basically developing countries can access to if I can put it Maybe bluntly to test out an experiment on Adaptation initiative and projects on the ground and I think the adaptation fund board Is one of the very few boards that have accepted this risk and liability That such innovative projects have a chance of failure or success And it's willing to take on that risk and make this funding available to to pilot these new Innovative approaches other funding windows include the enhanced direct access window. I mentioned we have learning grants that are part of this Strategy and also projects scale up so the adaptation fund board recognizes that our Projects that are being funded have got a cap of ten million dollars And there are these project scale-up grants that are available to help developing countries start thinking about scaling up Perhaps approaching other funders including the Green Climate Fund bilateral cooperation and other sources of financing To enable already implemented projects under the adaptation fund to be scaled up So I'll just very briefly I've got a minute left and I'll very briefly just give a snapshot of the support Resources available to least developed countries and developing countries in general from the adaptation fund To support readiness and capacity building Targeted towards adaptation project. So we have grant-based support and we have non-grant-based support We have a number of grants including South South corporation grants, which are supposed to facilitate peer-to-peer Capacity building in order to access climate finance or adaptation finance from the fund We have a readiness support package Which does essentially the same but offers a whole suite of tools and instruments to support developing countries to access money from the fund I heard a little bit about the challenges of Attaining or obtaining accreditation with the funds with the adaptation fund in these particular two particular grants Supposed to enable and facilitate and provide support to access funds from the adaptation fund We also have grants to support project development Including technical assistance grants to comply with environmental and social Save guards and the policy of the fund And we have non-grant based support which includes regional and training workshops to support accreditation and project support And I'm also very happy to actually just mentioned that the adaptation fund in 2017 held a global workshop for LDCs in Ethiopia in Addis Ababa to discuss access to climate finance by least developed countries and Project the development of projects and putting together pipelines that can be funded by the adaptation fund on adaptation We also hold webinars seminars country exchanges. We had a country exchange in Chile Where we brought in it was south-to-south country exchange and and and the purpose is to learn and exchange information and knowledge and Adaptation projects and accessing adaptation finance through some of the instruments available from the fund And then very lastly very quickly. Lastly, we have a community of practice that we have Facilitated by developing countries and this is also in partnership with other funds like the green climate fund And and we're in partnership also with the Paris committee on capacity building on this community of practice to provide Information and set up a platform for learning and sharing For developing countries to come together and discuss some of these issues and challenges They're facing and the adaptation fund is very much involved and committed To to at least trying to address some of these challenges and work together with developing countries To increase the amount of finance flowing to LDCs and developing countries and of course to support The the an increase in the quality and number of projects that are being implemented in developing countries. So thank you very much Excellent examples and I really like what you're doing in terms of decreasing the the onerous Requirements in terms of application building capacity, but specifically the points you made around risk appetite I think that's important that it's not only about capacity. It's also about risk appetite of many of these donor organizations and funds so with that I'd like to move over to Malcolm Brudeau who is senior advisor to the UK Department of International Development and As many of you will know if it is a major investor investor in development globally I think we estimate in excess of 10 billion pounds per year So a major investor and so Malcolm just you know over to you How is how is different taking into account some of these challenges and perhaps? Shifting its risk appetite to be able to get money to where it matters. Okay. Thank you very much and good afternoon everybody I'm gonna say I'm gonna talk about four things Fairly superficially because I don't have much time So first is the finance and the gaps that we have The second is why do we need to change the system? We have at the moment The third is what we're gonna do about it, especially through the climate summit And the fourth is why the life AR initiative fits in and why I find it so exciting So I think that first off if you look at Global warming we all know massive you all know the numbers But certainly mitigation finance is running about four or five times the amount of adaptation about adaptation funding and costs of adaptation in developing countries 140 billion a year 300 billion a year by 2030. That's a big spread. I'll come back to that There's a big spread there and also, of course natural hazards which we see the global increase at 1.5 trillion in 2003 to 2013 of damages for from natural hazards now That's a very large amount of money in addition The rest of the world doesn't stop with about 90 trillion going to go into infrastructure in the next 15 years And we know we get a roughly one to four return on making that infrastructure resilient So in terms of actually shifting into making sure that countries and people can adapt and shifting to make sure that investment is fit for purpose for the future is tremendously important But delivering that impact isn't easy It isn't easy because we're not dealing with simple things that can be dealt with by one project in some linear way of thinking We're dealing with a very complex system and every time you change one bit all the rest changes as well And that's not easy So the first thing is the political commitment to engage with that complexity and push change through cannot be and the need for that can't be underestimated and Certainly one of the things that DFID has learned is that making those connections from national to regional to local to community to individuals is critical and that flow of information both up and down the chain is what is needed to make things actually work so For many countries so in many countries there's a degree of support that will be needed to help this process go forward technical And support to actually make things happen down to you know make helping people travel to to provide news to local people so life AR I think is very critical in Helping to enable that control to help to enable that system to thrive whereby countries can put in place the infrastructure to engage with the complexity that they need Look cause local decisions and getting engaging with local people and what they do is critical And I will tell you one story from a long time ago. I came across a farmer. He was breaking terraces on his land And I said what why are you breaking the terraces? Well, he said First year of a terrace you lose about 20% of yield as the terrace establishes I need to feed my family next year and besides he said every year there's food for work to build terraces So in the kind of top-down siloed projects that end up not talking to reality Have litter the history of development and that has got to change And there is the only one way of changing that is by talking to people And actually having to shift the dial on the way things are done So that's why the UK with Egypt Malawi Bangladesh, Netherlands, St. Lucia Leading on adaptation and resilience for the forthcoming climate summit We want to shift the dial on the way business is done in delivering adaptation and resilience One of those is scaling up finance We need to get more finance in there And that's both public finance and private finance as well There's no point investing in a bridge. It's going to fall over in 10 minutes Also the important about saying well, where is this? How are these decisions being made? How is climate factoring into decisions that are the systems in place to enable Communities and countries to make the right decisions no more farmers breaking terraces because that's the best way to get The maximum amount of a system that on offer We also need to make sure that we deal with natural hazards. I said, you know 40 trillion or whatever it was I can't remember the number myself now in natural hazard damage That's a misleading figure if you flood a sub suburb of Miami I mean the leather seats of those Maserati's will never be the same again and they cost a huge amount To put right together you flood a suburb of Delhi a lot of people die, but the actual the actual Monetary Loss is not not so much. So that's an important distinction to make people's lives really matter and also making sure that we Invest in the environment for food and water in the summit wants to and also through all this to make sure that the Tools on data and technology are available to help all this to happen And I think for me the political signal that life AR gives Where the least developed countries will stand up and show leadership and say we know The kinds of changes that we need to make we invite people to start being much more effective in the way that they deliver On tackling climate change and building adaptation and resilience is potentially an extremely powerful message And we would like to put that at the heart of the climate summit because making a difference with people Rather than doing it to them is the way forward Our project has come up a number of times and the excellent project of bringing together the LDC group and driving an agenda From that group and inviting donors and others to support that agenda. So Thank you very much. Welcome. So we're now going to move over to Simon Simon you wear many hats You one of those is a strategic advisor to Willis Towers Watson is a Quite an important player in the insurance sector as well as risk management sector. And when we think of the insurance sector we always think of this rising insurance gap so a bit what Malcolm was speaking about is that the the economic losses versus the insured losses is growing and then you know Puzzles me that this is a massive market opportunity. That's surely the insurance sector will be should be capitalizing on but you also told me before the break that insurance is an important part of D-risking capital investment. So insurance can be a key player in getting investments into the places where it is needed under the right conditions You like to give us some thoughts Simon sure and I'm actually going to start with with something that you didn't mention Dion which is that You know Willis and and our peers in the insurance industry About 25% of Willis's business and Willis intermediates insurance. It doesn't sell insurance directly. It doesn't hold risk But about 25% of our business is linked to climate risk. So we are helping 25% of our business is directly helping Corporates and public sector manage climate risk around the world So and the tools we we need to use to do that effectively are the very same tools the Quantitative analytical tools that you need to manage Climate risk in the development context and adaptation and so I think what one of the really big points that I want to make is that understanding risk and then having a good Framework to make smart investments in adaptation which are going to make a big difference in the Medium to long-term under different climate scenarios as well is really important and there are literally a thousand people Across our company who are doing this on a day-to-day basis. And so I think that's something Significant of the insurance industry can bring To this to this space The second point is is to pick up on your your point Deon is is unlocking private investment requires Management of the downside risks of that investment and if that investment is going into adaptation then climate risk is going to be part of the equation and to get private investment flows to to To work Those those de-risking tools need to be in place a big pension fund like the The Ontario teachers which was mentioned earlier Their normal investment strategy that they may get pressure from From the grassroots to change the way they do things They're going to get increasingly get pressure from regulators, etc. And the Bank of England here in the UK is leading the way on that To to look at long-term climate risk But they'll still need to go through their normal investment Analytics and so they're not going to jump in blind into suddenly putting a lot of money into a climate adaptation Or mitigation come to that But if we can provide the the normal tools that they would expect to see when they're making those investment decisions and insurance Is one of those or risk management more broadly then I think that that can help to unlock that that flow and To be honest the you know public money has got to be part of it But the trillions of dollars that are They're invested every year by the global private sector including actually insurance companies insurance companies are the second biggest investors in in the world It's a class of investors in the world So it's really important that we that we Understand how we tap into those those investments And Then the third point I wanted to make was was some of the it was mentioned earlier in the first panel about Kind of cross-learning and I think Emma talked about cross-learning on on adaptation and mitigation from from south to north As well as from north to south and one of the things I've been working on innovative insurance solutions in in in the Caribbean and in Africa in the Pacific Trying to bring some new thinking about how insurance can be applied to to some of the challenges facing the the climate vulnerable countries and We're now seeing that some of those tools are starting to be Seen as being useful to fill the insurance gap actually in the developed world So in North America wildfire is a very good example wildfire risk is is escalating incredibly quickly in the Western US And there really aren't the tools the normal insurance tools that would be brought to bear to to manage that kind of Situation both again in the public and the private sector So it's it's very interesting to see that that some tools that we've developed and I have to say the insurance industry is not the most innovative Financial service provider, but but I do think that some of that in very innovation that we've managed to to deploy in the In in those developing world countries, it's especially to address climate risk are now working their way back into into the Develop world as well. So the insurance gap is certainly real But it's it's real everywhere and I think the pace of climate change is really is really making that more and more obvious and they just just the final final one because you asked us to address the questions of their marks was I think was kind of directly to me so long-term climate risk is certainly a very different from from from an insurance perspective from from sudden onset, so hurricanes floods etc But the insurance another part of the insurance industry covers certain events covers life insurance and so some of the thinking around life insurance we think can be brought to bear to to come up with with some instruments which may both Meet the meet the needs of kind of long-term climate change Impacts, but also can all drive the can incentivize the the Reduction of that overall risk ie mitigation of climate of carbon emissions If we set it up right and and that architecture is is not simple for sure But I do think that there are some some lessons from the life insurance industry about how you go about doing that Which we're looking to to test out a little bit and we're doing just to just to close and Come back to another another point was made earlier, which is these these parallel threads of the of the CBD and the climate cop and the the impact of climate change on our on our ecosystems and that that Feedback loop that that then has to exacerbating the the challenges of climate risk and One of the areas we want to to test out this long term life in let's call it life insurance for for Ecosystems is in for coral reefs and we think that there's a there's a case that that You know, we all know reefs are on a short life span unless we do something about ocean warming and and acidification and And so we want to we want to see if there's a way to to align all of the interest so that we can we can actually bring that tool to bear And I think despite your own remarks about the insurance industry not being the most innovative industry I think I'm seeing a lot of new innovation coming out. So hoping that we can escalate that So bearer, I'm sorry to put you at the last end of a long panel But you represent both the renewable energy energy efficiency partnership as well as a Specific program that you're working on underneath that which is the beyond the grid or sorry beyond the grid fund for Zambia so How are you seeing this and the combination of both public finance and private finance to be able to drive? renewable energy Expansion in Zambia, right? Thank you very much, Dion. Good afternoon to you all I think that's a that's an important question and a debate. I think for a long while we've been Discussing how private sector can fund some of the climate action and climate development agenda and how it can You know contribute to To what we're looking at from an energy perspective clean energy agenda interestingly enough that in Zambia when you actually look at the rural population It's very sparsely populated And so it becomes really difficult for the public sector to provide energy services to the rural populace The Swedish government then put out a tender to say how can We design a fund to attract private sector to bring on technological solutions To provide energy services to the rural populace. So grandmother in Mbala 50 after 50 I'm sorry five decades of independence in Zambia still doesn't have modern energy services But is able to make a phone call on a cell phone. So how can we emulate what happened with the Telcoms industry in the energy sector and provide energy services to the rural populace and What actually happened is that we then as as reap were contracted to create a Funding mechanism where private sector could access finance to provide those Energy services into the rural areas. So beyond the grid fund for Zambia is a results based financing mechanism That that basically catalyzing public finance to attract The private sector to provide energy services into the rural areas where they would not have done that without The the public finance support, but the public finance support the way it was actually structured was that One of the conditionalities was to attract Private sector financing. So Right now under round one Of of the fund for companies have been awarded about 12 million US dollars and the 12 million US dollars at the time of contracting actually leveraged from the private sector About 20 million and this is at the time of contracting not even over the period of the four years of The implementation of the fund which is an additional over the four years 24 million. So The 12 million public finance actually attracted in the market a total of 40 plus million dollars into an off-grid space that is Very nascent underdeveloped That the private sector was not really looking at and that's the the innovation behind it But in addition to the results based financing for the private sector one of the other pillars of of the program is The development of a market platform really understanding where the challenges where the barriers So it's not just enough to have a financing mechanism or a financing instrument out in the market, but we need to really understand the dynamics of You know the The challenges the barriers, how do we go about addressing the challenges and barriers? Are they policy issues? Are they regulatory issues? Is it just a systemic? Difficulty so in Zambia what we've done is we've created an off-grid task force, which is represented by government and government agencies the Corporating partners as well as the private sector to get a better understanding of what needs to be done the third pillar of the program is Data analytics and we've got a tool called Edison that plugs into the Software systems of the companies so that we actually understand what's going on from a consumer perspective We understand what what is the data on on gender who's making the decisions in in? Purchasing the the power that is generated through this private sector So we we think that it's it's a very innovative tool in the one and a half years that Beyond the grid fund has been implemented We've managed to connect over six hundred thousand households, and I think that's a huge achievement And Besides the leveraging power of of the mechanism itself It already it already has shown Results the target for the Swedish government was one million and we certainly on track for the four-year period to to reach that target by 2021 I Think there are a lot of Dion maybe beyond Beyond beyond beyond the grid fund for Zambia, which is now also actually expanding into rest of Africa going into Mozambique, Liberia and Busek Bukina Faso. I'd like to just maybe just say you know listening to the honorable minister and and some of the country issues with regards to You know accessing finance climate finance. I think it really is about Creating various different avenues for the climate finance to flow in Yes, it is available, but finance really looks at track record and understanding of how that finance is going to be deployed a lot of times and we've been working with the Zambian government as well and in fact the the the company that I'm part of Lloyd's financials limited in Zambia has Developed the national climate change fund for Zambia and one of the things that we've looked at in terms of being creative is Creating an infrastructure to absorb that kind of financing and a lot of the times Government seems to think that they they need to harness all this international finance and be the focal point but if we open up that the the channels and routes of Getting a multitude of stakeholders accessing this finance, then I think we will Develop much faster I Think the the the other challenge that minister had Had said that most projects are being implemented by different agencies capacity constraints capacity issues Again, I think we need to really understand what does that mean what are those capacity constraints a Lot of countries LDC countries when you actually look at their projects. They are wish lists They are not organized Investable projects and that's what we need to be able to do so honorable minister I think it really is time for us to sit around the table and understand if finance needs to come in it needs to have proper vehicles proper Projects and we need to be able to design those having a wish list is not Convincing enough for that finance to come into into our countries That's all I'd like to say. Thank you very much Thank you, so very and I think some would say that finance is a bit like water It it follows the path of least resistance and if you if you create opportunities investable opportunities that it will flow So thank you very much for your inputs. I'm going to open it up now for any Final thoughts. I know we're running over time. We're going to have to wrap up pretty soon But if there are any final thoughts from the from the audience in terms of questions to to the panel I'd love to take them Laurie I'm Laurie Gehring from the Thompson Reuters Foundation. I thought it's interesting some the innovation these last two speakers We're talking about you talked about insurance. Is it carrot calm or these kind of models that are being used in the West? Or can you tell us a little bit more about how the West? Western us with fire wildfire risk is looking at the Caribbean and Africa for examples and I'm just curious how far you think how many countries are actually ready for this kind of model that you're doing in Zambia You've just said that there needs to be a you know projects that are bankable How how much how many countries that are in the LDCs have that kind of bankable system now? Excellent good any other questions to take right now. We're one at the back there So we've got a question for Simon and one to Sabira so far. Yep Bueno, somos organizaciones comunitarias de base y trabajamos fuertemente lo cual es la diferente plataforma en especial el fondo comunitario de resiliencia que ha sido lo que es un trabajo fuerte a Nivell de las comunidades como trabajar la adaptación y el cambio climático a Sabora le voy a ser una preguntas en relación al Comentario que acaba de hacer ella que los fondos pueden ser manejados en diferentes Y en diferentes instituciones y de manera de lo que es acceder a estos fondos Creemos que estamos aquí para plantear un proceso comunitario como podemos hacer una estructura como podemos alinearnos a acceder a recursos no solo recursos En el gobierno porque sabemos perfectamente la corrupción y todos esos procesos que se dan dentro del manejo de los recursos y es muy Necesario crear esta plataforma que si pueden funcionar para lo que es gestionar de recursos comunitarios so I represent Community organizations grassroots community organizations and we work with a platform that brings together different community organizations Sabira talked at the end about Funds being available to different Institutions they've been the importance of making channels available so that the Money could be invested Effectively now we are Grassroots level community. How can we as grassroots organizations be a part of? this ramification of organizations that are going to get access to to funding especially when we've got to put the political aspect Into it we've got to deal with corruption At government level we got need to work with governments our platforms work with governments But we're we've got the the problem of government Corruption so how could we make the changes do what we would need to do in order to be able to be a part of these multiple channels of potential investment Thank you so much Any further questions? Don't see any any further hands, so I'm gonna ask Simon for you to to respond on on the issue around the innovation uptake and then Sabira to respond on the other two questions And then we'll do a wrap up from the panel and I want the panel to start preparing themselves Just one or two sentences on what you would improve from your institution what needs to improve to Take this agenda forward, but first Simon over to you to respond to the question So what I think the the main innovation has been the ability to bring insurance tools to to bear on things that aren't fixed assets that Fall down and then get rebuilt with insurance proceeds. That's the normal kind of way that climate risk is covered in the up until the last 20 years or so but we've been we've been looking at tools which actually use the The hazard itself as the as a as an indicator of losses, which may be to livelihoods to Ecosystems to more esoteric things than just stuff that's built and that's in the in the Western US for example, there are there are governments county governments city governments who desperately need a way of Getting financed quickly if their budgets for fire containment get shot in the first month of the fire season So these sort of tools can be applied to other climate risks particularly Where they haven't really been applied in the in the developed world, but we have in the in the Caribbean And in Africa for drought and in the Pacific for for hurricane and earthquake We have developed those tools and and and extended what the possibilities are what they can start to cover Good. Thank you salmon Sabira over to you. Thank you short as you can if you don't mind. Okay. Thank you If I may address Before I I address her her question I think it's it's an interesting dilemma I'd like to give an example About ten years ago private sector had huge difficulties in trying to speak to public sector And say that they can make a difference they can deliver so and that they were part of the solution in terms of delivering to the nation and no one was actually taking them seriously and it was every single time you went to the public sector or cooperating partner and the usual Answer was that What we only deal with governments The scenario today on the ground is very different today public sector is also Financing private sector entities as well as civil society organizations So I think there is a lot that can be done I think for the there is a fundamental change that public sector has realized that Finance is really about providing finance to different actors state as well as non-state actors For the state to actually deliver on its mandate So I think that there's a lot of opportunity and I would probably urge you to speak to both the LDC Country reps Governments as well as the cooperating partners on that The the other the other question in terms of Capacity I think to to to replicate in in other countries I Think that is is is probably where some of the opportunities are for Various organization international organizations as well as partnering with local Organizations to provide that capacity a lot of the times you find that In the decision-making system in governments you will find a lot of the technocrats are Expected to understand how the private sector behaves. They've never been in the private sector They don't actually understand private sector. So you've got this You know silo effect the private sector is is is thinking in a particular way and the public sector is thinking in in a particular way We need to find Intermediaries who actually can connect the dots who can who can make these two entities Understand each other and that's how I think that we can bridge the gap and and have Public finance going one way and private finance also flowing in Excellent sorry, I don't actually have an answer for you in terms of how many require that but Maybe the honorable minister can can help on that. Thank you Sabir and I there will be opportunities obviously to engage after this So please do take those forward So I want to start wrapping up and I want each of the panelists if you can give me one or two sentences of What you would improve in your institution the national government of Uganda or the adaptation fund or the institution that you represent I'm going to start with you Fry Well, what would you do better if you could just one or two sentences, please? Thank you very much Dion. I wouldn't actually from the I think perspective of the adaptation fund I wouldn't necessarily say put it in that way what we would do better But I would kind of phrase it maybe in a way to say what we would do more of so And I'm sorry just very quickly before I get to that I think I need to emphasize one really important point capacity building is a long-term process you have to be committed to get into the process for the long haul and We probably need to start moving away from trying to identify quick fix solutions to building capacity Particularly when we are talking about developing countries. It's a it's a long-term process that requires commitment And on that point I think the adaptation fund has been involved with developing countries and financing Adaptation in developing countries for over 10 years the approach that the adaptation fund has been doing or has been implementing is Based on country-driven this and this is very very important the example. I heard here about the terraces You know and and beneficiaries abandoning certain approaches just got me thinking about this country-driven as approach that the other adaptation fund employs and this is a Process purely driven by the country initiated by the country and it is very important for developing countries to also take ownership of this process So I'm going to catch you there. That was well over two sentences But very important point country-driven and country ownership of these processes critical and you you said you want to do more of that Minister, I wish you what what would you suggest the government of Uganda would do more of or do better going forward? Presently government is allocating very little money for For the environment I think I Would suggest that More money is put on the government on the budget to tackle impacts of climate change I think that is good. Thank you so much. Let me do what I can before I expect others to help me That's a very very good point is that by allocating budget you are signaling your commitment And then others will help as well Simon I'd like to have a really simple measure of resilience and gains in resilience. I think Malcolm mentioned the Disconnect between the amount of money going into to Mitigation and that flowing into adaptation. I think one of the reasons is that it's it's it's relatively easy Straightforward globally to measure carbon emission reductions. It isn't easy to to measure Resilience gains So and I think if we made if we found something that we could capture capture that in that would actually open up the Pathway to to more excellent financing. Good. Thank you Simon. Lizzie I would think national governments will have to think Seriously on how to change the way of doing things In the wake of climate change, we don't do business as usual in terms of policies strategies Tools everything. Yeah, because for example the GCF gives you 50 million US dollar and you expect it to have that's very Normal Tools you cannot account for so I think as governments. It's high time now to make sure that we have Serious thinking on the way we do things how we do things. Yeah, excellent. Thank you very much Malcolm vestmore in systems that Enhanced the flow of knowledge and information up and down so everybody knows What there is available and what can be done? I think we need to make sure that finance is patient and long term And I think we need to make sure that we continue to invest and invest more in understanding impact and understanding What then the next steps might be which is similar to the adaptation measuring thing. Yeah, but not quite perfect Thank you so much. Welcome Sabira We are the grid fund perspective. I think what we could do better is Right now we're looking at clean energy Provision of clean energy in the rural areas I think one of the the conversation and partnerships that we need to to build In-country partnerships is really looking at consumer affordability Programs and how can we enhance livelihoods so where is the money actually going in? I know that's not something that beyond the grid fund can can do but we can actually partner with local organizations to get a better understanding of How consumers can afford energy services being provided by the private sector. Thank you very much. Thank you best Just to reiterate that I think is STI and other social movements. We believe that The global architecture on finance for climate change needs to change and we're not expecting others to do the change We are willing partners to co-develop what this needs to be in order to address very grounded Challenges that the even poor and other groups are facing so we feel that we have something to contribute to that process Excellent. Thank you so much. So there you have the wrap-up done by my panel country-driven country ownership budget allocations by government measurements of resilience changing from business as usual invest in in systems of knowledge across scales Consumer affordability understanding consumer affordability and co-development So thank you very much to my panel if you can just join me in giving them a round of applause And thank you to all of you for staying the course. We ran a little bit over but thank you very much been very Exciting and stimulating and great to have you all with us Tracy, do you have any final announcements? Simon will make final announcements IID who I work for The GRP the global resilience partnership Willis towers Watson for providing us with these fantastic facilities and London climate action week I just want to say thank you to everybody for coming along Thank you particularly to each and every one of our panelists for an incredibly engaging Discussion we have heard a really rich panoply. I think of challenges, but also a practical ideas That can provide us with potential solutions for addressing the challenge of the climate Emergency a few things that have stood out for me though from our our counterparts in the LDCs is the the fact that climate change is happening now Lives are at risk and lives are being taken by climate change by disasters and by the the effects of people's the effects of climate change on people's lives and livelihoods But we have been given about 11 and a half years now it is by the IPC 1.5 degree report to Achieve the kinds of changes that we need to achieve in order to avoid the climate emergency hence the urgency with which governments private sector stakeholders and all of us need to act to support the most vulnerable in The least developed countries as well as in the developed countries to adapt effectively We've heard each and every one of the LDCs speak And also representatives of the grassroots movement speak to the challenge of accessing the money that they need to adapt with that urgency We've heard some extremely positive ideas about how we can build a capacity over the long term provide patient Financing but is that capacity building and is that patient financing going to deliver the finance with the urgency that is needed? That is the challenge that I put to financial institutions donors and the private sector to support the LDCs And the most vulnerable communities who are at the sharp end at the front Of where time climate change is is having its effects in order to make the transition happen as quickly as we need to see it With that, I'll call the meeting to a close and thank you all For your attention and for your contributions