 Thank you so much. So my name is Freda Lager. I'm a research associate at the Stockholm Environment Institute, working specifically with these issues of trans-boundary and international aspects of climate change and adaptation. And we're really happy to see this subject being one of the core subject of the conference here this week. It's the first time this happens in the Nordic adaptation conferences. We've got the whole history here from Richard. So happy to see. And I'll do my best to introduce the topic for you, hopefully make it less complex and more understandable. Yeah, why it matters. Talk a little bit about Nordic exposure to these types of risks. And hopefully provide some food for thoughts or seeds for conversations in the days ahead. Let's see, yes. And so starting where we're at, it's a very timely topic to be talking about. The 20th started in crisis. We've all suffered through a global pandemic, really showing us how interconnected and interdependent our global systems are. How risk can propagate from one sector to another, from one country to another, and across continents. We've also seen extreme weather events around the globe, as never before, major floods, heat waves, forest fires, et cetera, really affecting global systems, global production systems, and supply chains. And last year, Russia invaded Ukraine, also having real effects on, as we were talking about before, we should mention, example, the wheat markets and a lot of the food markets around the globe. All of these types of risks, interacting to create the food crisis that we now have, the energy crisis that we are suffering through, the global inflation rates that we are seeing. It's the first time in decades that global poverty and global hunger is rising and net rising across the globe. And climate change is only a part of this, but it will only increase the severity, frequency, and length of these kind of disruptions on the global system and keep interacting with other type of risk drivers globally. And this is why when we think about climate change, risk, and adaptation in this current system of perpetual and multiple crisis, we need to also rethink what adaptation means. And so this is our definition of transboundary climate risks that we work with. And we look at both the impacts of climate change that cross borders, but also just as importantly, the actions that we take to respond to those risks and how those might have unintended or intended consequences in other countries. Let's see. We've been working, I just wanted to introduce the topic properly to you. So we've been working with kind of conceptualizing transboundary climate risk through pathways. Just to make it more understandable, less complex, these types of risks can flow via trade. So climate risk can have impacts on production systems that are important for global systems, or supply chains, or even transport systems. Climate change will have an impact on financial markets, financial flows, foreign direct investments, insurances, remittances, et cetera. The movement of people will be affected. Migration flows altered by climate change. Also tourism will change. And we have biophysical systems, shared ecosystems, or river basins, for example, where we'll have shared risk across biophysical systems due to climate change that we need to respond to jointly. Recently, we've been working with this for a while, so recently we've added on three more pathways of risk, how climate change also drives geopolitical risk. We've already seen it. What a stress is one example of this. The risk, so the psychological aspect for this, basically risk perception and risk awareness changing, and risk to shared infrastructure or important international infrastructure. So this is kind of how we look at transboundary climate risk in the global system. We've been focusing a lot of our research on trade, and that's also what I've been spending most of the time doing this presentation to talk about. Coming back to where we are in the Nordics, and I want to talk to you a little bit about our exposure to transboundary climate risk, what we know right now. We share some traits to Nordic countries, not only language and culture, but also economy. So we are all small, open economies, very dependent on imports and exports for our economies to function, deeply embedded into the global systems. In Sweden, for example, one-third of all jobs are directly dependent on exports. More than half of all the food that we consume in the Nordic countries are directly imported to our countries, and then we're not even including or talking about inputs that we need for our own agriculture to function, such as fertilizers or fodder or fuel, for example. We've been doing some research together with Norwegian and Finnish colleagues, some of whom are here today as well, looking at Nordic exposure to these transboundary climate risk. And I'll start in the deep end. This is some results coming out of the food, the deep dive into the food system that we did. This is this graph show, climate risk in the crops, sorry, embedded consumption of maize, rice, wheat, and soy for the Nordic countries. So what you see in red here is major trading partners where the yield production is predicted to decrease towards the end of the century. And blue is opportunity markets where we're actually predicted to increase yields due to climate change in the future. So a few key take-homes. One is that Iceland is not in this image, and it's because we don't have this. This is very detailed data, and we don't have as good data for Iceland, partly because it's such a small country, and it's not included in a lot of these global data sets where we derive this type of data from. And I just wanted to mention specifically, we have other type of data for Iceland, but it's not as good. So it really matters the quality and accuracy and detail of the data that we have to be able to assess these types of risk, really matters. I think the second take-home is that the risks are pretty similar across the Nordic countries, and this is not only true for these food commodities, but it also has similar patterns across all sectors of the Nordic. So it makes a really good case for collaboration for the Nordics on these types of issues. The third take-home, which is also the last of this one, is that the risk really differs between different crops, different commodities. Here we see Mason rice being much more risky than wheat, for example. It's also true for sugarcane and coffee that was also included in this food analysis. Coffee, for example, is a crop where more than half of all the coffee-producing regions in the world are at risk to stop being able to produce coffee just 30 years due to climate change. We'll come back to this more. So we did not only look into food, we also did a general assessment of exposure to transboundary climate risk for the Nordic countries across all sectors of the economy, looking at monetary flows, embedded water use, embedded land use, and looking at domestic climate risk in the trading partners or in the origin countries where these things that we consume and use for our own production systems are being produced. And when we did that assessment, five key sectors popped up as more exposed to transboundary climate risk than others. So besides from agriculture and food production system that I've been talking to you about, the transport system is highly exposed, and especially so in Denmark and Iceland. Current and future energy systems, finance and investment markets, sorry, sector, and machineries and electronic sectors, all really, really crucial sectors for our societies and our economies to function. I was happy to hear Circo before talking about the need to look also into future systems and to the degree that these types of risk have been studied in the Nordics. One major blind spot is that no one has so far been looking at future systems and future societies and the types of risk that they will face in relation to transboundary climate risk in the future. An example of why this is important is if we look at the green transition, for example, all of these sectors will be heavily modified and affected by the green transition. And it matters because the green transition is super mineral and metal intense. Copper and lithium are two core minerals that we will need much more of in the future. And this is what it looks like today. So half of the current mines of copper and lithium are already located in highly water-stressed areas around the globe. And so these dependencies and risks will change as our societies change, as our economies change, as our trade patterns change. And so it's important to also take that into account. I'm reaching towards the end. Just wanted to kind of remind you, I've been talking, trying to at least talk to you about why this matters, why transboundary climate risk matters. Sorry. In this new era of perpetual multiple and interacting crisis, it is even more important that we try and address and assess and understand these types of risks and that we work together in order to actually do something about them. It does require us to think about adaptation, not only as this local and territorial type of thing, but actually think about the risk that may cross borders. But also the way that our adaptation action might have effects, intended or unintended, across the globe. It also provides opportunities to engage in building global resilience or engage in local adaptation building elsewhere, also in order to safeguard our own interests. So in case of the coffee case, for example, where it's very clear that if you want to be able to drink coffee in the future with a change in climate, adaptation needs to happen in the coffee producing regions that are there today. And the Nordics, I think that's the last point, is really interesting, I think, both because we are so, we have an interesting place or potential role to play because we are so exposed, so embedded in the global system. We also have a big tradition of working with environmental diplomacy, international solidarity. And so we could really play a big role in being kind of front runners in understanding and addressing and working together towards addressing these types of risks. So it's an exciting place to be, I think, when we talk about this. Very last thing is we co-founded something called Adaptation Without Borders, a partnership together with two other European institutes, ODI and Idri. And it's a good platform if you want to engage more on these issues or understand what's happening or get some information. We're also launching Global Transboundary Climate Risk Reports for the first time on Thursday. So that might also be something that might be fun to read on this topic. I hope I made it less complex and not more. I did not know. Thank you so much.