 So, we're starting our Davos with the most important topic, the future of our planet. So it's great to see so many friends here and also people that I had the pleasure to work with over decades that I know are very committed to making sure that our planet doesn't catch fire and that we also use the necessary tools that we have to make sure that we get climate change under control and that we follow up now on the pledges from Montreal. That was an amazing meeting for the first time. We decided 30 by 2030, 30 percent of our nature should be protected for future generations by 2030. Since we now have 70 percent of nature we have decided to use, maybe we can let those coming after us decide if about the 30 percent left. I don't think that's a bad idea. This is really about also making sure that this is a decade of delivery. So far it hasn't been, but it's time to change. Mr. Jean Shayk and Rania, thank you for your leadership there. We know it's about financing. No, we have to walk the talk by also making it possible. There is a financing gap on all the pledges we have made. And we have made progress. Remember John, before we went to Paris, we were both foreign ministers back then, and we also were on track for like a four degrees thing. After Paris, I think it was reasonable to think that we at least could make it three degrees. Of course, the goal was 1.5. After Glasgow, I think we were more or less on track to 2 degrees. I think after Charme there is a possibility to reach 1.5 and we did not move away from 1.5, but it's now about financing. It is really making sure that the whale ball technology both on mitigation but also adaptation has to be implemented. And that's why we have also gathered the philanthropic community here. And we know we can do more in this field. I saw a report last night preparing for this that only 2% of the philanthropic funding goes to nature and climate. Philanthropy is doing a lot of very important things in many, many sectors globally. That's for sure. But I think there is a potential to step up in the area related to our planet. Because here we are really defining if we are going to have really sustainability in the future. You can see the Gaia initiative is very important for us. The Gaia initiative, of course, is our planet. Greek mythology is really about how we can make sure that philanthropy also does its part when it comes to saving our planet. So we have a great panel and also a lot of great people in the room that I know is super committed. I couldn't think of anyone, and I mean this from the bottom of my heart, that could introduce this topic better than Secretary John Kerry. John, you have been so committed to the environment, oceans, climate. And even as Secretary of State in the U.S. where there is a lot of geopolitics, we know that. It's not a lack of that still. But even as Secretary of State, you put the oceans and climate on top of your agenda, and I don't know any other Secretary of State that has done it in the way you did it and no other foreign minister. So it's a pleasure to have you back in Davos, John, my dear friend, and I'll give you the floor here. Thank you. It really is important to be here. Let me try to settle down here and focus on the task at hand if I can. And I'm privileged to share a few thoughts with everybody here. I keep, I sat up last night, my daughter is here, she does a lot of work in health, and we met up last night, we're sitting there talking, you know, something like that. How do we change the way people are thinking about this and talking about it, and why is it that allegedly wise adult human beings, CEOs, some of them, United States senators, some of them, a whole bunch of those, want to ignore science and want to ignore mathematics and want to ignore physics and somehow cannot bring themselves to do what we need to do. And when you stop and think about it, it's pretty extraordinary that we select group of human beings because of whatever touched us at some point in our lives are able to sit in a room and come together and actually talk about saving the planet. I mean, it's so almost extraterrestrial to think about quote, saving the planet. And if you said that to most people, most people, they think you're just a crazy tree hugging lefty liberal, you know, do good or whatever, and there's no relationship. But really, that's where we are. You look at what's happening with species, half the species in the planet have been already killed. And if you look at the way we live, the incredible sort of destructive process of growth, the way we interpret it, not as enlightened growth, but as a robber barren growth, driven by a lot of different things. We had 18 separate $1 billion cost events in the United States last year. And you look at Pakistan, where 30 million people in one single event were displaced and their lives were affected, you know, extraordinary upheaval. You run around the world. I'm not going to do it now because this group is as smart as any group and you know what's motivating you and bringing you here. But damn it all, we have to find a way to get really serious about bringing the corporate world on board around the world. Mark, thank you for you and a whole bunch of folks who have been just brilliant leaders in really laying this out. That's not a throwaway, thank you. It's making a huge difference. There is a, I'm thinking for the first time in the last years because of what Burger just said about we were somewhere around three degrees, three to four when we went to Paris. And we're not now. So there's on the one hand, on the other hand, life that we're all leading right now. On the one hand, the destruction is unfathomable, flooding that's just amazing, not just in California, but Nigeria, Uganda, Mozambique and different places. And somehow we leaders to lead have got to be able to bring folks to the table and organize ourselves around real things that are really going to make the difference now that tip the balance from this on the one hand on the other. We have to make it on, here's where we are. Here's where we're moving. It's all excitement. It's all a brilliant possibility set of possibilities because of where technology and creativity and civic efforts and the marriage of young people who want a future with folks like you here who are, you know, close to young still, but moving on. The reality is folks that, I mean, this is the time where we have to get it done and make it all meaningful. The private sector is stepping up rather remarkably, to be honest with you, but not yet even at the level we need to be. Let's face it, whole bunch of companies in the world have chosen to say, I'm going to be net zero by 2050. And you and I, we know they don't have a clue how they're going to get there. And most of them are not on track to get there. So this on the one hand, on the other hand, world we're living in is where we came out of Glasgow and where we came out of Sharma Shake, that we went from the possibility that we were heading to 3.5 degrees or more warming of the planet to 1.8 degrees out of Glasgow. And if you take all the things that were promised in Sharma Shake and add them to Glasgow, you can get to 1.7 degrees and I'm sure Fati Berol will share that with you in one venue or another here in the next days. But we're not doing everything we promised, nobody. And I think about what the IEA said to us a few months ago that in order to get the 1.5 and keep it, and by the way we have not yet lost, there's still a possibility of achieving 1.5. We make the decisions that are available to us. If we treat this for the challenge that it really is, almost like World War II, when we knew that in order to win the war, and we didn't know it in the winter of 1943, but in order to win the war, we had to organize ourselves to take control of the skies and take control of the seas and be able to smash the, you know, the battlements that have been built along the coastline of France and Belgium and Netherlands and so forth. Then we had to get through it. We did it. And if you read Paul Kennedy's book, Professor at Yale, called The Engineers of Victory, you'll read how this group of mid-level folks were making big, big decisions and implementing them and getting them things done. They weren't caught up in wads of bureaucracy, it didn't take them ten years to get a siting plan for a wind farm or for a solar. We can't do that. I was talking with the White House last night with Bruce Reed and others, you know, the state of the Union's coming up and the President's got to, you know, and I think will because he believes this. We've got to move this because that's the only way we keep 1.5 degrees alive. So how do we get there? Well, the lesson I've learned in last years, and I learned it as Secretary and I've learned it since, reinforced in spades, is money, money, money, money, money, money, money. I'm sorry to say that. I mean, yes, technology, yes, exciting new initiatives, yes, organizing, winning races politically. I mean, what happened in the midterms in the United States is nothing less than miraculous. It happened because young people voted. And the second most voted issue was climate. It's a huge deal. But we have to go further. I have said this before, but I say it again. I'm convinced we will get to a low-carbon, no-carbon economy. We're going to get there because we have to. I am not convinced we're going to get there in time to do what the scientists said, which is avoid the worst consequences of the crisis. And those worst consequences are going to affect millions of people all around the world, Africa and other places. Of the 20 most affected countries in the world from climate crisis, 17 are in Africa. And if we're going to keep faith with the global south and we're going to be real about dealing with justice in this transition, then we have to make sure we're bringing the global south along, even though that's adaptation and that's resilience and talking about loss and damage and so forth. We have to do it because we have to build the political consensus that allows all of us to go forward. Now, I'm running over time and I know that. But I want to just ... I can wound up on this one, folks. Here's what we need, and we're doing it. With our deal that we cut with Indonesia, with what we did, what we did, Rania knows, that the New Effie program we put together is going to get rid of 15 gigawatts of pollution by deploying 10 gigawatts of renewables and 5 gigawatts of gas shut down, 11 turbines will be shuttered, and gas will go to Europe to help it in the context of Ukraine. Perfect symmetry. And it's going to happen because we were able to put together $500 million, a big concessionary loan from Germany, thank you, Germany, important contributions from different entities. But we don't have time, folks, to be cobbling together bespoke deals here or there and everywhere. We have to do it in a massive basis. And the key to that, one of the keys, is philanthropy. It's not the only key. We need governments to put public money into it. But there is no way to win this battle without ... I quickly put the without with the no way to win the battle because someone will edit it and say, Kerry said there's no way to win the battle. But truthfully, folks, the secret to this is this partnership, gaying. First, I thought it was a great wine, but seriously, it's a moment where we can pull ourselves together and we have to do this day to day and bring the private sector to the table. We have to unleash, Mark Carney knows this as well as anybody, we have to unleash the trillions of dollars for bankable deals. How do you create the bankable deals? You have to leverage. You have to bring people together to take first loss, to minimize the risk. The minute you do that, you can get a deal like we got with Indonesia, with Mexico, with Vietnam. Final thing I'll say, I've said this many times, but I want you all to focus on it. 20 countries, 20 economies equal 80% of all the emissions. You solve the problem to start with by making sure all of those 20 countries are doing what they need to do. And that includes the United States, China, Russia, India, Indonesia, Mexico, Brazil, you know who they are. We have to pull them to the table and leverage further. And I think that's doable. But time is in fact running out on us. So I hope everyone will look at this initiative. We've had many different initiatives. You all put money in to help us with the global methane pub. And you put money in to help us close the deals in many of these cases. So you're playing an absolutely critical role, but we've got to all figure out how do we leverage further? How do we augment this in order to be able to win the battle? What's exciting is, and this is not false optimism. I saw a technology the other day that's going to create usable no-CO2 gas, which uses existing CO2 and heat and other things to be able to put together this new LNG. These are the things that are going to change the world. These are about 70 new battery companies all of a sudden that are spouted up because of the IRA in the United States. And the reaction of the country shouldn't be, oh my God, you shouldn't be doing that. That's putting us in an unfair position. Do it too. Everybody's got to do the same thing to accelerate this process even more. So God bless all here. Thank you for being part of this. Let's honestly show the world that we can get the job done. Thank you. Thank you. Thank you Secretary Kerry as well as Borge for your comments. Vice President Elgo, I don't know whether you want to take a seat in front. There is a chair. You're fine? Okay. And thank you all of you for being here and being part of the Gaia community. Over the last more than 50 years, the World Economic Forum has been very much focused on fostering public-private partnerships to improve the state of the world. And today is an important milestone because you've added the third P into that public-private construct to see how we can scale, catalyze and mobilize a lot more action around climate and nature. And only if we join forces can we really move in time to deal with the challenges ahead. I have a very diverse panel here representing the public-private as well as the philanthropic sector. And I also want to save some time for comments from the floor. So if I could turn to Mark first, you have been co-chairing the Glasgow Financial Alliance for Net Zero G-Fans for a period now and also been a very strong force in promoting climate action, climate ambition, accountability amongst financial institutions. Can you tell us your thoughts around how Gaia could actually work with G-Fans and a lot of the many other global initiatives to support climate and nature action? Sure. And I'll try to be brief and pick up on what Secretary Kerry was saying and let me pick out and actually let me salute the JETP initiatives with Indonesia, Vietnam, others, Newefe as well, which you have been so instrumental in getting done. I think I want to use them because it illustrates points where philanthropy can come in and leverage huge amounts of capital. This is the key point. So one of the things in the Indonesian JETP is there's a couple of hundred million dollars of philanthropic capital, which is going to be used to help with project preparation. It's drudgery. It's the specifics of the actual project. You know this well, Minister, that has to be done. Yes, we could get the MDBs dealt with it, but it might take too long. So the philanthropic capital is coming in, helping with that. We need advice in various countries around enabling environments as well. Technical assistance, this is measured in relatively small dollar terms, but it unlocks and to give the examples of, for example, the Indonesian one, it's ultimately a $20 billion financing which shifts the curve for Indonesia by almost 20% of carbon over the course of this decade. In Vietnam, it's even bigger. It's almost 30% over the course of this decade. So the point being, small amount of money early on, getting the projects ready. That's the first. Second element, and I'm sure we'll get into more detail on this, others will, is around the whole world of carbon credits, biodiversity credits, debt for nature swaps, and the ability to help unlock. We need layers of capital, again, to catalyze investments that need to happen to help stop the wanton destruction of our ecosystems. Over 11% of emissions last year were from deforestation itself, 11% of total emissions just cutting down. We need to slow, stop, reverse that and private capital has an important, or philanthropic capital has an important role to help build something that will bring much bigger layers of private capital. Last point, which is that we have a need in all of these situations, and I'm going to defer to the minister because she's been an architect of this in Egypt with NUFE. We need a just transition. These changes bring widespread displacement of workers, impacts on communities. We need retraining. We need on-the-ground assistance there and now, and again, a real role for philanthropic capital. My core point is that these interventions unlock tens of billions of dollars, and I'd like to say that the private sector is going to move in and do them, and maybe they should, but we can't wait, and that was a core point of John's, and actually in many respects the expertise resides elsewhere, which is in the philanthropic community. Thank you, Mark, and maybe this is a good time to turn to Minister Rania. You just came off hosting COP 27 in Shamalshik, and the underlying or key theme out of Shamalshik was fulfilling pledges, NUFE. Could you tell us a little bit more about how philanthropy, because I know there's a whole chapter dedicated to the role of philanthropy in the guidebook on just financing, tell us more about how philanthropy can support the fulfillment of pledges and commitments. Thank you very much, and it's great to be here and see everyone after we had meetings in Shamalshik, and I want to thank the WEF for bringing on philanthropy. I remember when we had our panel in Shamalshik, it was mentioned, you know, the missing P. I said no, it's a prominent P, and really philanthropy is a prominent P in the equation. Mark explained that. Something else which is quite important, Secretary Kerry mentioned the global south and the point of just transition. We won't be able to move forward on our pathways of climate action and development unless we have that prominent P with us. MDBs, everybody knows that the amount of money they provide is not enough when it comes to helping with project preparation, etc. The 2% that was mentioned in the video, I think that if we take a closer look at philanthropic money that goes to agriculture helping farmers, which is adaptation, which is climate. We don't find that 2% a little bit bigger, and that is what we need to focus on. For mitigation, there are metrics that we can actually benchmark against for adaptation that does not exist, and therefore we need to work collectively to be able to also push philanthropic action and money into adaptation resilience to avoid things that happen in Pakistan to actually push forward on the investable projects, and this is what we try to put together. I want to thank all our partners when it came to Egypt's country platform for the nexus of water, food and energy, Secretary Kerry, Mark Carney, and putting this together was a very important exercise to show that if we are able to define as country what our priorities are with respect to climate and development, we will be able to mobilize financing and put all this puzzle together so that whether it's mitigation or adaptation, we can move forward. Philanthropy is important. We as governments need to give a compelling and convincing argument. We need to be transparent with the project itself, what is needed. I believe philanthropy and MDBs need to work more closely together, and there's an ongoing debate on how MDBs need to redefine their work, and I think there's an element of philanthropy contribution coming in there, both in terms of work on the ground, but also maybe in projects which are defined as important for governments given their work with different MDBs, there is a way to scale and increase magnitude. Let me conclude by our work on just financing, very, very important. During Sharma Sheikh with GFans, with the private sector of philanthropy, we put together the Sharma Sheikh guidebook for just financing, and as you mentioned, there's a chapter on philanthropy. We had Rockefeller with us and other philanthropists, and there we have a whole chapter on capital providers, what are the ticket sizes, what are the risks that are being taken. So we need during this year, as we're still presidents of COP, we didn't end in charm, it started in charm, to try and roll out the discussion around the different findings here. This was a collaborative effort. So two points, the just financing and also country platforms, so that we are addressing both mitigation, adaptation as fast as possible, and the prominent P, we keep on pushing the message. Thank you. Thank you, Minister Rania. Indeed, for Gaia, it's about growing the pie, so we encourage and mobilize more individual institutions to come forward to champion climate and nature. It is also not about diverting funds away from social causes and other activities, but it's how we can integrate climate nature considerations when we are giving, and finally is around how we can be more effective in this giving to link this mighty P with public private action so that we can move at speed and scale. I want to now turn to Desmond, who is the CEO of Tomasic Trust, and you've just launched the Philanthropic Asia Alliance to look at mobilizing more philanthropic action in Asia. Right. It's obviously a very important region because there's growing wealth in Asia. And also that this is also a region where there is a lot of scope for climate action. Can you tell us a little bit more about your plans forward? How do you intend to one, mobilize more institutions to step forward and also to deploy working through the Gaia platform? Well, first of all, thank you very much, Kim Wei, for inviting me to be part of this very distinguished panel. It's correct to point out that there is massive challenge and also massive opportunity in Asia. I think if you look at the size and magnitude of what we're talking about, we know that Asia is home to 60% of the world's population. It counts for 42% of global wealth. At the same time, of course, it's also responsible and accounts for more than half of global emissions. And I think if you look at the global climate risk index, the estimate is that almost two-thirds of most climate-vulnerable countries lie in South Asia and Southeast Asia. So it's a severe concern for everybody in Asia. In fact, the Swiss Re-Institute, I saw one of the scenarios which postulated that if we were to look at the collective Asia GDP, the assessment is that this would shrink by 25% over the next 25 years if nothing is done about climate change. So these are huge, complex challenges for us to solve. We know that no one can do this alone. We also know certainly not to the kind of scalable impact that is much needed if we're all to combat climate change as what Secretary John Kerry said in a race against time. So what we're looking to do at Temasek Trust is we believe that collaborative philanthropy is crucial to bring together public, private, and the philanthropic sectors to address the more systemic, structural, environmental, and social challenges, which is why we set up what we've called the Philanthropy Asia Alliance last September. This is intended to pull together collective resources and expertise with the view to catalyzing comprehensive solutions to prime Asia as a force for good. It's an action-oriented alliance. And we're now actively reaching out to like-minded partners from across the world, not just in Asia, to try and come together as a coalition for that kind of change that we would like to see in Asia. Like-minded partners who also see the need, also the impact and the opportunity of Asia on planet, people, to also help to foster the kind of regional peace and progress that we'd like to see. And we hope to bring as many of these partners together in the PAA, Philanthropy Asia Alliance, which looks at a few levels of partnership. At one level of partnership, it's in donors coming together to pool their financial resources, both for philanthropy as well for impact investing, and in the kind of innovative financing that we're seeing today around blended structures as well as an outcomes-based financing or a pay-for-success kind of model. We're also looking for partners who would be willing to come together with us to manage programs on the ground in Asia. And certainly we're looking to see how research, knowledge, expertise can come together in this alliance to help us to enable the kind of capabilities and change that we'd like to see. Any kind of partnership in any form of alliance is what we're looking, try and forge through the Philanthropy Asia Alliance that Tomasic Trust is looking to put together. I welcome all of you to join us this September when we formally launch the PAA at our annual summit in Singapore and to join us at any level of that kind of partnership. But importantly I would like to thank the WEF for being a strategic partner to the Philanthropy Asia Alliance. This is important in terms of scaling impact. We think that GAIA is exactly the kind of global platform that allows us, in fact it fits with our resolve and our purpose, and it allows us to actually drive the kinds of thematics that we're keen to push forward through the PAA. Those thematics are no surprise. It's in the area of nature and climate as one broad thematic. It's in the area of holistic and inclusive education as another area and it's in global and public health in a third area. And we already, as I was saying, this is action oriented so we've already started calls to action to drive forward in each one of these areas. So we look forward to having as many people partner us as possible. Thank you very much for listening. Thank you Desmond. And I know that you've been quite successful because even at the initial launch of this idea there has been four or five partners coming from Hong Kong, Indonesia joining forces to see how we can better mobilize action. Not enough unfortunately but we hope to get a lot more. Better if I could turn to you now because you run a business but you've also been thinking about philanthropy for a period now, right? Strategic philanthropy in the Gulf region and in fact you've set up a few centers that's focused on studying the space. I know you've also recently been appointed as the COP 28 champion for corporate as well as the philanthropic sectors. Can you tell us how Gaia can help to scale efforts in the Gulf region and beyond and also your plans and give us a bit of a preview on what we can expect at COP 28? Sure, thank you. So just a quick disclaimer unlike many people in this room I'm not an expert on philanthropy nor climate change. I'm a good student of both but I am a staunch believer in the catalytic potential for philanthropy to really move global systems to address all challenges really facing humanity and our habitat and of course climate philanthropy is no different. Now I've often referred to philanthropy in general as being the forgotten child of the capital system. I think we're slowly being reacquainted with that child but that child is all grown up and so we've got to stop treating it like a child and I get frustrated when I hear that philanthropy on the whole you know it's nice, it's good, it feels good but it's not going to move the needle because it's relatively small. First of all on the quantum it's not small as we know it's well north of a trillion dollars a year could well be double that or more if you consider all the philanthropy we're not counting or not measuring which again to put it into context is five times global ODA so it's not small but leaving the quantum aside the quality is really where as Mark was referring to is really where it matters and it's nature of obviously being more nimble, more patient, more risk tolerant and more equitable. Strategic philanthropy is where it's going to drive that multiplier effect in partnership with business and government so in many respects I think climate philanthropy can be that glue that binds together business, government, civil society towards better outcomes in furtherance of our climate and nature goals. Now just something to mention on the emerging markets because it was mentioned of course including by Secretary Kerry as we know emerging markets today the climate philanthropy within emerging markets is is relatively low for various reasons probably a fair bit less than the two percent global average but we do know of course that these markets are going to bear the brunt of the climate crisis and in so many respects the climate challenge will be won or lost within these markets but I am optimistic that we're seeing great change in these markets and I think we're at this inflection point now for a number of reasons first of all I think much greater institutionalization of philanthropy across emerging markets that's a very positive trend that is happening secondly I think this um generational transfer of wealth huge that's taking place not just globally but within Asia alone we expect five trillion dollars or more to be transferred from one generation to the next and this is to a generation that's far more attuned to both the risks and the opportunities associated with climate action and third I think is general awareness globally but also in these markets of the interconnectedness of the climate challenge really addressing challenges within all our systems health food security national security of course you know social justice and so on and so forth so we are at that inflection point just a quick note on cup 28 of course a cup 28 presidency is well aware of how challenging this is but is up to meeting that challenge by really creating these systems of collaboration this global architecture for all these players to come together and to pull capital but also ideas and energies to generate and create that multiplier effect and one of the things that cup 28 presidency would like to do is of course collaborate very closely with Gaia to build this community not just within philanthropy but also linking philanthropic players with other systems of capital including I think very importantly venture capital to help to promote better venture philanthropy to help to drive technology at the r&d level to help to scale up action so I think it's an exciting time again commend wef for all the great work that it's doing and just deliver that message that cup 28 wants to collaborate and cooperate with everyone to co-create these these solutions to address these these challenges nature and climate thank you better we have 10 minutes and I'd like to open the floor for any comments from the audience yes the gentleman yeah got your hand please introduce yourself and then so we know who you are my name is husband sake and I'm from Pakistan and I represent the global shakers community so my question is regarding so we are talking about opening solutions but at least like Pakistan is in time to present it already so what quick solution we can take so that we don't fail these kind of situations in next year so do you have any comment in terms of short term solutions for developing entries any any reactions from the panel solutions of to prevent situations so adding further because while you're talking flood past five months ago but there's still water over there people are still living in camp people are still living in shelters so we need to be prepared for another flood in coming years so we need to come up with solutions we need to have all disaster management solutions so that we are better prepared so yeah I just want to make a solution for this if I can just say that during COP 27 one of the breakthroughs was a loss and damage trust and you know we need to expedite the financing that goes into loss and damage because this is one example where certain areas in Pakistan are lost and therefore they there needs to be an expedited push push forward but again there were so many pledges made while back if countries had done adaptation projects to protect from these climate disasters we wouldn't be in that situation so I think we just need to push further and further the message and try and be more more fast with with all these initiatives in terms of implementation I'll just say very I mean the question proves the point that the resources are wholly inadequate the speed of deployment is wholly inadequate and I would say as well that the scale of understanding or the granularity of understanding of future disasters is still inadequate in other words we have we are more and more precise and sophisticated if you will on mitigation and the pathways on carbon and the mapping to outcomes but actually from a from a risk map from the scale and the likely location of of these disasters we're still at early stages now part of what's being put together is through the GRI and others using the global insurance industry is to get much better about that that has to be in parallel met with resources from public multilateral and philanthropic sectors so that the deployment is there alongside so part of the reason for the initial silence is there is not the resources there and if you know as I say the question proves it and this is part of where we need to map private expertise and and scaled up philanthropic dollars thank you thank you good morning everyone my name is diane binder from France I'm here as part of the young global leaders delegation I'm the founder and CEO of riddenopolis which is an initiative that seeks to support entrepreneurs at the nexus of nature climate and urban resilience so my question is how can big philanthropy help us deploy impact at scale because we we all share the urgency to act we don't want to hear yet other commitments of big money being deployed on climate action and nature preservation but most of the efforts are actually is actually borne by entrepreneurs so we are actually with riddenopolis creating an alliance of implementers so that we can have bigger money from philanthropists to help us deploy at scale but my question is like how can you help us how can you help entrepreneurs have an impact thank you so one of the things if I can just share one of the things that we've done through our foundation is actually to give a prize a livability challenge prize for any kind of idea that helps us with mitigating climate change and improving our resilience so as an example we've we've given a million dollars a couple of years ago to a team from Los Angeles actually that came with a really interesting idea of how to do carbon sequestration and to turn this capture into actual construction material that can be used and you know with with the million dollar prize that's only one one part of the spectrum there are a whole lot of other respondents who came in to that livability problem statement and challenge and those ideas not just this particular winning idea was those ideas were picked up by venture capitalists who are interested in scaling this and so this speaks to this point about having to bring or wanting to bring private capital into all of this space because if you can bring in the private sector venture capitalists to come and seed into all of these areas there will be a lot more energy and momentum spawning all kinds of new ideas and innovations in the space of acting against climate change just very quickly hugely important but also proven approaches at scale which I think is part of your and I would suggest one immediate thing is to connect you with the C40 initiative the large cities initiative there's important philanthropic capital behind it I will offend people if I don't name all of them so I won't start on the on the list but this and this is part of the point which I think Gaia can help with which is to pool and amplify like-minded initiatives in order to have the impact that you're looking for. Just to say that this is an opportunity that the COP28 presidency wants to and will capture because and as I mentioned linking VCs in fact in the last few weeks I've been chatting to and have soft commitments from 16 venture capital bodies or communities around the world including in India and Sub-Saharan Africa and indeed from Asia to commit to deploying a certain percentage of their venture capital funding towards through investment capital solutions and entrepreneurs who are really leading the charge in developing solutions to climate and nature challenges but also to put a certain percentage aside in venture philanthropy to really see not just entrepreneurs but also scientists to go and find them in the labs that the work that they're doing within the labs and help to scale those up so again would love to chat to you if you have ideas on how to scale this. Thank you we are running out of time I'm sorry about that but I'd like to invite Neely Gilbert who is our young global leader she's also the chair of our investment committee for the Rockefeller fund to give us your closing remarks. Thank you. Thank you all for being here and for the launch of this important initiative. When we first came together at Davos in May and we started to talk about the vision for Gaia one of the things that I shared was David Rockefeller's vision for strategic philanthropy which he bequeathed to the David Rockefeller fund when he formed it. Two things philanthropic capital should take risks this is essential risk capital for seeding the vision for the future of the world that we want to need. The second thing is that we have a moral responsibility to use philanthropic capital to find leverage in driving changes and outcomes for the way forward and Gaia reminds us of both of those critical principles. As we begin the annual meeting with the theme of collaboration in a fragmented world the concept of how different forms of capital can come together to drive greater outcomes whether it's public, private, philanthropic capital is so important as a vision for how we can move forward on our critical goals in a time of challenge. So as we continue to expand on this concept think about specific opportunities for how Gaia can move forward in driving strategic systemic change that we need as we've heard from many panelists making a difference on climate touches all of our interconnected global goals. Please I ask each of you to think about how yourselves as leaders the organizations which you can touch and others with whom you can speak and bring to the table as part of this critical work can join us in making a difference on climate and the future of society. Thank you. Thank you all.