 The Global Commission on Economy and Climate was established in 2013. Its flagship initiative is the New Climate Economy Project. New Climate Economy examines the relationship between global economic activity and the risk of catastrophic climate change. The New Climate Economy Project is a new initiative that was launched in 2013 and reported last year in 2014. And it sought to answer one key question. And that is, is it possible for countries and companies to reach their objectives they already have for greater prosperity, for economic growth, for reduced poverty and at the same time take steps to reduce the emissions of greenhouse gases and the impact on climate change? The main finding of the New Climate Economy Project was that we do not have to choose. We can both take steps to meet our economic objectives for reducing poverty, for economic growth, for greater well-being in a number of ways and we can at the same time reduce greenhouse gas emissions. The New Climate Economy report demonstrates action to strengthen economic growth, reduce poverty and reduce climate risk can be mutually reinforcing. The product of an intensive year of international research, analysis and consultations the report was launched at United Nations Headquarters in New York in September 2014. The response to the New Climate Economy Project has been quite extraordinary really. I think there have now been 5,000 newspaper articles about it as one measure of the fact that this really struck a nerve. It was a question that many were interested in and it was a story told in a convincing way and based on very solid research. Unveiled by Commission Chairman and former President of Mexico Felipe Calderon the launch event was attended by UN Secretary General Ban Ki-moon and high-level delegates from government, business and the finance sector. What I think is the most important thing with the NC report is that it really changes the way countries, societies, companies look at climate action. Policy makers, decision makers, they're really struggling to take these decisions they perceive as unpopular. And what NC does is that it looks at the benefits of taking these decisions and show that economic growth, economic development is possible while acting seriously on climate issues. Stockholm Environment Institute is a key partner in the New Climate Economy project and played a central role in the formation of the 2014 Better Growth Better Climate report. SCI worked as one of the core research institutes that carried out the work for the New Climate Economy project. We had a major part in drafting the report and we also did the analysis for all the work on energy as well as some work on cities. And it comes from the fact that much of the question that the New Climate Economy tries to answer is already set the core of what SCI tries to do, which is to see how sustainable development can be made compatible with other objectives for a better world and for a better life for people. New Climate Economy is informing international debate and encouraging action among political and business leaders. NC work is really important in the short term because we are now in the run to the Paris conferences on climate change and in Paris we are expecting a major new international agreement on climate change and having a clear picture of what are the multiple co-benefits, not only economic but also energy security, energy access, infrastructure development. A clear idea of all these co-benefits could clearly help enhancing the level of ambitions. I think the New Climate Economy project and its findings are a start and I think the next step here must be to continue this work and I think research institutes like SCI have a very important role to fill in providing the confidence that this is the right direction to go.