 Welcome everyone... ...here in the room, and watching our live streams from around the world to day two... ...of the World Economic Forum Sustainable Development Impact Summit... ...here in New York City. We're very excited with the plenary agenda that we have for you this morning We have some outstanding speakers that are going to focus particularly on actions and next steps to tackle the climate change crisis that we face. Maen nhw'n rhoi bod o sefydig o'r corffl iawn i New York yw'r Unigog Rhannwg Llywodraeth Cymru ar g seniorsur Ysgrifesodd Ysgrifesodd i chi i wneud o'r Daeligus ac oedd o'r cyffredinol o'u r Felly, nid oedd ydych chi'n ffordd o gwybod wef GM Yn Yn Ymwyllteb yn ymwneud cyfnodol ystod yng ngynghwyr New York City yng Nghymru of New York City Bill de Blasio? Mewn ystod y dda. Dwi'n amser i chi i gyd, ddim weltych chi. Thank you Dominic and of course thank you Klaus and everyone at the world economic forum for all you do. Thank you for gathering us this again on this occasion for such an important discussion. I know you're here to think about the issues of the entire world and we need you to. I hope you get a chance to spend some time in New York City, around New York City, and with real New Yorkers. I hope you enjoy the life of this city. Now, let me tell you, I represent 8.6 million people, and I like to say I represent 8.6 million highly opinionated people. I have literally never met a New Yorker who said to me, you know, I could go either way on that. I don't have a strong view. I have never ever had that experience. So if you engage New Yorkers, you will get an earful, and you will get the truth. And I think we like it that way. And this is a very good place for people to come together, not just because of the presence of the United Nations, but because we in New York literally, we have all the peoples of the earth represented here, living here, every nationality, every ethnicity, every faith. And we find a way to do that with a kind of practical harmony. I'm not here to tell you it's perfect. I'm not here to tell you it always works. But there is an interesting equilibrium that has been created, and people find a way to work it out. And that gives me hope every day. It gives me hope for our earth. It gives me hope in terms of addressing the challenge that we face here. But since I am in New Yorker, it's my obligation to also speak to you bluntly about that challenge. And I will be brief, but to the point. I think even though it's early in the day, we are all here to start thinking about the big issues and the big challenges. So I'd say at this simply, the question before us, two questions really to my mind. One is modern capitalism capable at this moment of addressing global warming. And I think it is possible, but so far it is not happening. So the answer at this moment, sadly from my point of view, has been no to date. And then the question is modern democracy, modern government capable of addressing global warming. And to that, I can only give you a definite maybe. And I say that because there are some great examples out there. And I'll speak briefly about what we're doing in this city, but I also think we can all admit that the debate, the discussion and democracies around the world is still wanting. It's still far from where it needs to be if we're actually going to address this topic. There are still too many things that take our attention away from the existential threat. There are too many smaller matters or parochial matters that are clouding us and our judgment from being able to focus on the thing that we all have in common we all need to address. So the blunt truth is we are not there in any way. And as we gather here today, I'm not saying that as a hopeless statement. I don't think anyone in this room is here because you don't have hope. But I do think we're at a point of greater honesty than we were perhaps in previous years. I think some of the realities of this country. And I'll say it politely but firmly, our own national government's failure to address climate change right here has awoken a more honest conversation all over America. And that is ultimately to the good. I cannot for a moment forgive the mistakes made in Washington. But the fact that the people are listening and watching and responding in a very different way is cause for some hope. But it's going to be incumbent on all of us to change the dialogues, not just in our nations but where we live. And I think what we're seeing at this moment is that people around the world no longer believe that national governments will be the source of the solution. We would like to believe that. We could aspire to that. We should all try and work for that. But more and more the demand rightfully so is that local governments and regional governments carry the weight more and more. And obviously we want to see the private sector, the non-profit sector, NGOs all responding kind. Here in this city if you go back even eight, nine years ago I think there were plenty of people not focused on climate change. Plenty of people were not so sure how real it was and then came Hurricane Sandy which brought extraordinary devastation to the city. The worst natural disaster in our history. And it's a painful truth that after that event there were very few climate change deniers left in New York City. And I have to tell you I've traveled this nation over these last months in my previous work as a presidential candidate and heard... That was Friday. That was a long time ago. Things move fast nowadays. But I heard the voices of people all over America and that dialogue was very different than what you see on cable news or what you see online or what you hear from the well-known commentators. There was tremendous urgency and a tremendous spirit of do-it-yourself and bluntly because there was not faith that corporations would save us or our national government would save us. It was a sense, a deep sense that it had to become a matter of personal responsibility right down to the local level. Here in New York we have taken the actions that I hope cities and governments all over the world will take, setting the goal of being carbon neutral by 2050, ensuring that we facilitate in every way the things that really will make a difference. We have the toughest law on earth now requiring the retrofitting of big buildings for energy efficiency and bluntly it works because it comes with serious penalties if the companies involved don't do it. I believe in good will but accountability is needed too. We're retrofitting all of our public buildings to make them energy efficient. We're making our vehicle fleet electric. We're getting all of our electricity for the use of our city government from renewable sources over the next few years. We're putting up electric charging stations all over the city for private vehicle users. These are only pieces of the solution but we're showing they can all be done at once in the biggest city in the country and we need to do that in every city in every town all over this world. We're also divesting from the fossil fuel industry. People in this room may have different viewpoints but I'll tell you that the divestment movement must grow for us to get out of this crisis because right now we all say we're moving off of fossil fuels but we're simply not doing it fast enough. The divestment movement is part of how we force the equation. I urge everyone in this room if you represent a city or a region or a national government or a university or a foundation anything that has a pension fund divest from fossil fuels now to help us move forward. Bluntly we have further taken the action of suing some of the fossil fuel companies because we believe they knew exactly what was happening with global warming and they aided and abetted it and did not take actions to tell us the truth all of us and they've caused damage that must be compensated. Everyone here will have their own view of what's the right way forward but the one thing that should be a common understanding is the question of urgency. We are not even close to where we need to be and all of us have the opportunity to set that bar a lot higher and I hope this discussion today will do that. Last thing I want to say to you is another reflection on my experience out around this country and I will tell you that I came away from a deep examination of the feelings, the views, the concerns of the American people over these last months. I came away much more optimistic despite the challenges we face, much more optimistic because of the question of ownership. I think it's fair to say in this country and I think we've seen it in much of the industrialized world that the role of people as owners of their society, the personal responsibility they were taking for the changes needed, it was drifting, certainly here in the United States of America, drifted precipitously. Many people came to the conclusion that their voices didn't matter, their votes didn't matter, their involvement didn't matter, there's a danger in that to say the least, there's even greater danger for younger people and I've heard the voices of teenagers of college students, high school students who talk about the dangers ahead when it comes to climate change and they talk about it with a fear there may not be much of a world left for them and some of them talk about how it's easy to not want to participate or not want to be involved if you don't think there's a possibility of anything good up ahead. But what's inspiring is how many more I met starting with the youngest people I could possibly imagine would care and would be involved like some of the climate marchers on Friday. There were so many 10-year-olds and 11-year-olds and 12-year-olds who gave me very eloquent explanations of why they were marching and that gave me a lot of hope. But this point about ownership to conclude, I saw all over this country people believing it was actually their responsibility. In a funny way their decreasing faith in their national government and their institutions was starting to turn into increasing faith in their own ability to make change. Somewhere in there is something very positive that could lead to longer term structural change for all of our societies. People actually believe that they are the stakeholders in the truest sense and it's their obligation to make change. I ask of everyone today, please, do all you can to foster that belief, to support it, to listen to it, to show people who are starting to take ownership for their future that you commend them, you honour them, you bring them in, you support them, you facilitate them because that's the only hope. Our institutions have let us down, our governments have let us down, our corporations have let us down. If we continue at this exact pace, we will fail. I don't think the people have let us down. I actually think the people are ready to show us something greater than we've ever seen before but we have to listen. We have to embrace it. If we do, we can build, I think, that brighter future we all aspire to. Thank you so much. Thank you so much, Mr Mayor. You set the tone in the scene for what will be a sparkling conversation, I'm sure. It gives me the utmost pleasure and delight to introduce our next speaker to offer some thoughts for you. Dr Lisa Jackson, vice president at Apple, former administrator of the Environmental Protection Agency here in the US. We're so delighted to have you join us. I know your diary is incredibly busy but maybe you can come up and share a few thoughts and reflections to the audience. Lisa Jackson. Thank you, Dominic. I'm not sure I'm busier than the mayor of the city on a day like today but it is really a pleasure to be with you. Thank you for this wonderful gathering in the Weft tradition. A special greeting to UN Special Envoy Luis Alfonso de Alba Cangora. And it's a pleasure to see you still standing after day one. And to all the business leaders present here today. I am always wary of jumping on the moment bad wagon. The idea that these are branded moments for us makes me a little cynical and skeptical but today I'm sorry I'm in. Throwing the cynicism aside and saying this really does feel like a moment. Because it's daunting as we all know the global climate challenge is I can't help but feel that our capacity to address it. And we just heard some pretty inspiring ideas for the things we must all do and not talk about from the mayor. But our capacity is greater than it's ever been right now. Gathered here in this room gathered across the city. We have business leaders global and local organizations a powerful chorus of individual voices all determined to see action taken and to take actions themselves. And they are rightfully demanding that government leaders step up to the moment we are in. Now I did spend 25 years in public service and there's a long time. One of the things I heard the most often is that we cannot stop the worst effects of climate change just from actions voluntary actions from business. We need government leadership and I want to align myself with that position because nothing we do or say here absolves government of the responsibility and the urgency of this moment. But the other thing I heard time and time again as a regulator was that businesses are looking for cost effective solutions. That those solutions if they meet and exceed regulatory requirements actually provide business opportunity. Now I see new evidence of this every day that when businesses do what we do best which is tackling challenges like our planet's environmental challenges. In a time effective and cost effective manner there is a huge opportunity for tremendous impact. And we can take responsibility and see and put into place mechanisms that will ensure that those opportunities are realized. Now we do set out to do that at Apple about a decade ago tapping into resources innovation ingenuity to transform our operations and set a new direction for our entire industry. Our ambition is no less than that. We tried to be intentionally transparent about our process this is in a company not necessarily known for being eager to talk about what is doing behind the scenes. But we believe that our place in the world means that we have a responsibility to do the right thing and take it seriously. Our commitment led us to a significant milestone last year. We operate Apple on 100 percent renewable energy around the globe and for businesses like ours that can't be the end of it any longer. Our resources our scale our relationship with consumers our seat at the table with other stakeholders all of these give us a chance to go further now. We need to use the levels that we have within our reach. So in addition to running all of our own operations on renewable energy we're challenging each and every one of our suppliers to do the exact same thing. And beyond that to actually add renewables to the grid not to use the existing renewables out there but to actually say because I'm here there will be new renewables on the grid. And they are stepping up so far more than 40 of our manufacturing partners have committed to power all of their Apple production with 100 percent clean energy. And once they figure out they can do it for their Apple production they actually do it for their entire production. In one year we got to 44 we doubled from 22 the year before. We're on track so far to exceed our goal of bringing four gigawatts of clean energy onto the grid. We're tracking for a combined six gigawatts of new clean energy around the world where both we and our suppliers work to support their efforts and our own we launched a 300 million dollar clean energy fund in China. We did that with 10 of our suppliers last year. It's the first of its kind program to help more businesses tap into renewable energy. And today we are announcing that one year later the program's first projects have already added a combined of 134 megawatts of clean energy to China's national grid. Now as we engage with our suppliers they are seeing what's possible and many of them want to go further. They see the benefits of clean energy not only for the environment but also for their customers and for their bottom line. Now I don't mean to paint a rosy picture we all know this is hard and complicated work depending on where you operate clean energy sources can be hard to find. There are still too many barriers to access in far too many places. We could throw our hands up but we shouldn't. We can't. This is a challenge that we now find ourselves working together with others to solve. We have to show up to voice our support for clean for climate change action and for renewable energy policies around the world that help ease the transition we are hoping to be a part of. This week I'll be meeting with policymakers and my team will be meeting with like-minded businesses and policymakers as well because we know that the collective voice of businesses can make an even broader impact. Together we can show that it is possible for businesses to free ourselves from fossil fuels and run entirely on clean energy. And we can demonstrate that there is no conflict between a healthy planet and a healthy bottom line. I always say Apple CFO does not run when he sees me coming. We don't have to resign ourselves to a climate catastrophe friends. That's true if and only if we act right now. It's true if every one of us commits to doing the absolute most we can not just enough but more. Join forces advocate for smart strong policy at every level. It takes us a long time but I know it took us a long time to get here and I believe that humanity is at that inflection point. I know we're all inspired by Greta Thunberg by the clarity and moral voice she brings to this issue. We too have no less a moral obligation to Greta's generation to all the generations that follow to address this problem head on with clarity and purpose meaning and energy. Not in a few years not when it's convenient not when the boss says it's okay but right now before it's too late we have to make those children proud. Thank you very much. What a marvelous kind of scene setting introduction. We now have our panel discussion so I'd invite our panelists to come up to the stage. I'll introduce you as you can so that we can get right on to the discussions. Mahendra Singhi who's the chief executive officer of Dalmere Cement please come up. Mr Singhi was at the United Nations Climate Summit yesterday championing high ambition action from heavy industry sectors like Cement. Catherine Garrett Cox who's the CEO of Gulf International Bank in the UK Young Global Leader of the Forum and also the chairperson of the Clean Air Fund. Rhianmarie Thomas who's the chief executive officer of the Green Finance Institute in the UK. Dr Thomas has been working on green finance issues for a long time and was global head of green banking at Barclays Bank. Robin Sital who is the co-chair of the Global Shapers Climate and Environment Steering Committee. Last but by no means least is the architect of yesterday's United Nations Climate Action Summit, Ambassador Louis Alfonso de Alba. As Lisa Jackson was saying Ambassador you're now sitting down but it's amazing that you are kind of metaphorically still standing after all of the work and on behalf of everyone in the room just a big round of applause to thank you all of your efforts. I know these things are so not easy with the systems that you had to work with and being a member of the steering committee I'm so impressed by the leadership that you showed in getting the United Nations and all of its partners and constituents to that day so thank you on behalf of everyone. In fact with that segue maybe we can start with you sir and encourage you to provide a little bit of a readout to the audience of what happened in your thoughts and reflections and perhaps next steps. Ambassador. Yes well good morning to all of you thank you very much Tommy. Let me start with some reflections if you allow me because building on what the major de Blasio was saying I can share also my own personal experience and I will start by saying that what I have seen in the last 10 years is a radical change and I hope that the summit that we organized yesterday and the events that took place also over the weekend. Will be the beginning of a new stage in the fight against climate change and I see some fundamental differences. The main one is not is not only the number of deniers but the optimism that you feel the number of factors that have become major players in the fight against climate change. What we saw yesterday was leadership but leadership coming not only from governments leadership coming from the business sector from civil society from unions groups organized groups of the civil society and that I think on itself is a fundamental change. There is not only optimism that things can be done but there is also a sense of individual responsibility. Which is growing. I don't want to diminish the responsibility of the governments in setting the policies but I think this is going to be very important. If we all understand that we can all contribute to the solution that's very good. There is a fundamental difference between member states at the United Nations because the divide between developed and developing countries is blurring. Everybody is taking responsibilities on their own and the majority of member states are not looking any longer into what their neighbors or others are doing. They are assuming commitments and nobody is looking for excuses at least not as it used to be and that's also very important. So this optimism, this capacity to participate in the solutions needed to be showcased at the United Nations itself. Having on a stage all those factors at the same time in a single form not in a divided setting as it was in the past I think it was a great achievement. The second point that I would like to make is that the Secretary General Antonio Guterres has been able to set up the bar very high, much higher than the one that member states and other stakeholders had before this process started. We are all talking now about the 1.5 degree as the target is no longer 2 degrees. We are very much aware of the difference between 1.5 and 2 thanks to the special report of the IPCC and the Secretary General has been able to set up that as the goal. Some countries may still have some difficulties but the majority at least publicly they have all embraced that goal and that implies that we need to have a much higher level of ambition than the one we previously envisaged. We need certainly to take into account that the goal of carbon neutrality is not going to be reached soon after the first half of the century. It needs to be reached before the end of 2015 and that's also quite important. He has set up the bar very high also because he has been very bold on actions that need to be done in the short term to achieve that goal and he has started with coal and its insistence on the reduction of subsidies for fossil fuels, the end of the building of new coal plants, the use of the tax action of the private citizens instead of taxing the polluters is resonating. The direct calls that he has been making to member states and I will highlight that he has been addressing not only the major economies which is obviously one of our priorities but he has also tackled those countries that may become major emitters in the near future if they do not change the trajectory. So it's a huge effort to raise the bar and I think that even though it's quite evident that it's not going to happen from one day to another, it is moving forward and that level of ambition is quite evident. Let me also highlight that the importance that the Secretary General is giving to action, no more speeches, no more talk, action, concrete things that can be immediately delivered and that brings me to the second part of your question, Dominic. What's next? For the Secretary General, the weekend, both the Saturday, Sunday and Monday events are only the beginning of a new process. It's not the end and he has given clear instructions yesterday to all the UN system and its partners including the World Economic Forum on which you play a major role as part of the steering committee and supporting the industry track. He has given us a specific mandate to translate into immediate action, all the presentation, all the initiative that were presented yesterday and we have very clear deadlines. The first one is to be able to arrive by the beginning of December this year to the next COP in Santiago de Chile with a comprehensive report that will identify not only the actions but those that are going to be responsible. Org are already taking action to make reality those commitments to translate into facts what it has been said yesterday. I'll give you a few examples. On the pledges that we heard from the seats, which is one of the most vulnerable groups and one of the leading groups in terms of ambition and pushing the agenda forward. The Secretary General will address immediately the main concerns they have when it comes to finance and we will be addressing the question of risk and the question of graduation and we will be convening the main actors, both from the governmental side, the financial institutions etc. That will have to happen in the coming weeks because if we do not do this kind of follow up we risk to have yet another summit on which many good ideas, many good proposals are made public and at the end not much happen. This idea of immediate follow up and commitment will need to continue beyond Santiago and it is quite clear that we have as a second stop which is probably the most critical one in this fight is going to be the COP in Europe. I think I can mention the UK by now even though it's not official but the COP in Glasgow is going to be a critical moment because by then Member State need to come with seriously enhance NDCs. I don't just revise NDCs but because of that I think we have an opportunity to build a program of action for 2020 which is going to be very solid and we will need to continue the partnership with different stakeholders. Give me great pressure to be here today because it is an opportunity to engage you, the World Economic Forum and all your partners in that follow up during 2020. Thank you very much. Thank you. Ambassador I remember this time last year it was hot off the press that you'd been appointed the special envoy by the Secretary General for the summit. You've had a years journey coming through and out the other side. On a personal reflection, what are you most proud of from that journey? What gives you the most pride looking back on yesterday and the journey that you had to go through because it was an immense challenge? Well it was a big challenge and for those of you who are familiar with the UN it's not easy to change the practices and I feel very proud because we got to a level of understanding and support from the Member States first which was the most difficult part in the sense that things need to be done differently. That the time of negotiations have ended and we need to move into the implementation of all the commitments and they were willing to engage with different stakeholders to do that on the same stage. It was not an easy task but I think it was a different summit from the previous one in that sense that it was much more inclusive and we gave a saying to a number of constituencies. But let me also recognize that most of the success of yesterday is due to a number of factors which help us in building through the coalitions a number of proposals initiatives and I also need to pay tribute to the Jude movement. Without the strength of the Jude movement it would have not been possible. That's why we opened a space also for the Jude on Saturday and we organized the first ever Jude summit at the United Nations. Thank you investor. It is true I think from the process that you led things will never be the same again in terms of these cops and diplomatic processes. The fact that you had youth and industry in the UN at the same time was a kind of extraordinary moment for that building. I'm sure some people were quite confused as to what was going on but that positive disruption that you brought to the system were all extremely impressed and grateful because as we heard from our opening speakers this is what we need to do in terms of the systems change. Thank you. And to that end let me turn to Mr Singhi who is the CEO of Dalmia Cement in India. Now you might think well that's a bit strange why do we have a cement company from India on the panel but you'll soon quickly realize that in terms of these champions of change where actually what seems impossible can be done will be done and will be spread to other sectors of the economy. We do really have some fascinating stories. So perhaps Mr Singhi you can very very briefly tell us not only about the sector and what's possible but some reflections from an Indian industrial perspective on this challenge because we might not have expected to have an Indian cement giant on the stage. Thank you. Happy green morning leaders of all walks of society. Brothers and sisters of global family. It's a great pleasure and it's a great honor given by WEF and particularly Mr Dominic to share what's happening in the world. First I would like to say time is changing. Time has changed. Mind is changing. Mind further may change. And most important is the people or the organization or the system who used to watch who is polluting what that's changing. Yesterday it was a pleasant surprise when the young leader was asked what's the message for you to these leaders and she replied immediately. I am watching. I am watching. You know earlier it used to be government it used to be NGOs. But now the good news is that the millennials the young people who'd be watching the government the civil society the industry. Now we all have to introspect in what way I am contributing to the pollution. Whether it's the government or it's the industry or the individual by his own lifestyle. And then one has to know that this is how I would be changing. Like what Mr Dominic has said that how cement sector and particularly Indian cement company at such a high stage big stage. Where one can talk to New Yorker also and the leaders also. Friends it's just because of the change of mindset that we not only my organization Dalmai Cement but at the same time many forward looking organization of Indian cement sector as well as from global sector are trying to introspect and change with the change. I know that they all can contribute to the overall purpose of keeping first the temperature rise up to two and also to be net carbon zero by 2050. Lot of actions have been taken but it's still global cement sector is understood as hard to abate polluter. But the moment you would like to appreciate the impacts or the efforts which cement sector is making I'm sure in time to come the sector would be known as possible to abate. Now to bring to you what is possible let me say the first step was to monitor our own carbon footprints earlier it was never the term which was used few years back but now we know that what are my carbon footprints and where I have to lead. I would say the global average maybe 900 kg carbon emissions pattern of cement but then companies are trying how they can bring it to 700, 600, 500, 400 and there are various possibilities which are there which have been employed as a technique so that one can look at and one can give confidence to the people and the public. That though cement is gray from outside concrete is gray from outside but from inside it's green it would be green and that's why we are talking of the economy also and the cement also gray to green. So ladies and gentlemen if I talk of my organisation of few of such companies of India I would like to say that in terms of low carbon economy transition we are one of the best I'm not trying to offend anyone but I'm trying to say and I'm not saying this this is being said by an organisation CDP who has huge environmental data and they do sector specific study and Dalmia cement is number one in low carbon transition low carbon economy transition and at the same time four other cement companies of India in the same category and the region being is it's India's culture to live in harmony with nature it's Indian cement sector's culture to share what's being done by each and everyone and I'm like to say here that we are quite different from the philosophy Apple which says like the system has said that we don't share much what's happening behind the scene but we are the people we are the organisation we do share what's behind the scene and behind the mine and behind our mind was and is that first we have to tackle the problem of carbon emission and that's why as an organisation Dalmia cement has committed that they would not be net zero carbon but they would be carbon negative they would not do it by 2050 but they would be doing it by 2040 and the region is the philosophy which says clean and green is profitable and sustainable what we have understood so far in our last few years journey that the more we make the more we take actions on sustainability positiveness we make more profit we become more cost effective cost effective may not be in a first year second year third year but ultimately and we have to look at not short term but mid term and long term and I would like to say now that when we have to move from like say like bi-organisation which is having the lowest carbon footprint now I have to move minus 30 by 2040 what to do and there are few things which are happening for which we have already taken action we would be using and many others also like he has said I have to talk about Indian cement sector that we would be using 100% renewable power by 2030 we would be avoiding 100% coal of fossil fuel by 2035 by using biomass, bamboo plants, plastic waste, municipal waste and so on of the things which are not in a major way happening in India we would be ensuring that we produce more and more green cement which is blended cement so that people are able to appreciate this product like the way now organic products are being appreciated and lastly and most important would be to clean the air because everywhere the talk is how to clean the air so we would like to capture carbon dioxide which comes out of the cement plant, cement process and then use it, we would not like to store it we would not like to defer the problem but at the same time we would like to use it and this technology is being worked out we have already started our actions and then we are setting up what's largest CO2 capture and nutrition plant of 500,000 tons shortly so important is that we have been able to change mindset I am sure the way World Economic Forum is saying that they are committed to improving mindset of the world so the point is things are possible, provided we are industry is or civil society is supported by whom not by the government but by the finance so good part is that we have a partner from finance here who would also like to say that in what way they would be supporting not cement sector but overall world for innovations for the future for new technologies and the moment that happens I think people's mind would open up because we need partners who can take calculated risk with us and we would like to create opportunities in challenges so friends I am very happy to assure all of you that cement which is a material which creates happiness without cement you can't get house you can't get shelter you can't get infrastructure so I call it is a happiness material so I am here to deliver happiness and in delivering that happiness I would need your support your confidence in us that yes we would do it will be possible to obey the pollution and we would sit with you how to create a happy world so thank you Mr Dominic and thank you and thanks for your attention. Thank you so much. It is interesting this pretty aggressive targets which are being delivered upon by not only your company but others in the sector which involve kind of Indian based technologies leapfrogging technologies innovative finance for those not only net zero but a positive contribution through carbon capture and use of that into other materials there's a lot going on in India what was fascinating about this journey was that so called developed countries were learning a lot about these technologies so we had this very interesting interaction with Sweden and India and suddenly the idea of technology transfer was going the other way so in terms of the innovations coming out of India in a technology space it was fascinating. If I can turn on to others in the panel Catherine Garrett Cox is here of Gulf Investment Bank there's some quite interesting things in there isn't there I mean there was aggressive greenhouse gas emissions reduction by a heavy industry sector air pollution reduction finance for new technology development I know some of your partners are very interested in and leapfrogging technology how do you see these things shaping up from your perspective on the financial side. So I wonder how many of us had a sleepless night last night reflecting on Greta's words if you choose to fail us we will never forgive you. And I think I was struck as I went to bed quite late last night thinking that whatever I do on the brief time that I have on this world it has to make a difference and speaking not just to someone that's worked tirelessly in finance for over 30 years and specifically in sustainable finance for more than 15 but somebody who is now leading a wonderful group of people at Gulf International Bank who are mobilising an asset management strategy with a very clear focus of scaling sustainable development with a focus in the Middle East. These are extraordinary times and I think that finance has such a critical role to play in this regard and I really think that the challenge in the gauntlet that I throw down to each and every one of us is actually as the ambassador said we have an individual responsibility. It's very easy to hide behind a corporate business card behind a flashy office and I think that each and every one of us needs to think about the sector that we're in and we've heard some great examples of what's happening in India and with your cement company. I absolutely salute what you're doing and particularly now as chair of the Clean Air Fund we have a big project in India and the shocking statistic just in air quality is that 90% of us live in countries where the state of the air quality is damaging our health. That's more than 6.8 billion people. 4.2 million people are dying every year because of poor air quality and the worst people who were affected by this will be children, the sick people in developing countries. So we have real challenges here and the mayor spoke to us so eloquently this morning and said we're not doing enough and we're not doing it fast enough. So I would say speaking from a finance sector we know the client science is there. We can't afford to ignore it anymore. I had a bit of a shocking experience when I reached immigration last night at JFK and I gave a broad smile to the chap who was about to stamp my passport and he said what are you here for, how long are you staying? And I said well I'm here until Thursday and I'm involved in some climate discussions and he went not another one. I said what do you mean? And he said you know we don't believe it. It's all fiction. None of us believe it and he pointed to all of these colleagues and all of the other booths. And so I said well if none of you believe it the hall will be very empty tomorrow so thank you for turning up. But I think the real challenge for finance in terms of not only mobilising capital but we have to be advocates for this. We have to include the number of people in this conversation. It's not enough. It's just not enough. Hopefully the fact that we're all sitting here wanting to talk about it, wanting to have the state of urgency that we're hearing from Greta, from the mayor, from everybody means that we want to do something about it. But I think the challenge to each and every one of us is slightly, as Lisa said at the start, do something that will make your children proud. I have four children, four wonderful children. When I spoke to two of them this morning I said what should I say? And they said this matters. So this matters for our children, for our grandchildren. Whether you have a role in finance, whether you have a role in bringing new technologies, whether you have a role in advocacy, in running an NGO. Don't just sit on your hands, walk out of this room and do something. Thank you. Thank you so much Catherine. Robin maybe it's time to turn to you. There's many things that you are doing. I don't know how you have time to do all of these things looking at your kind of bio. But particularly in terms of these movements that you're involved with on climate and environment. I mean you're on our panel, you're hearing this. What's your assessment? What's your scorecard? What do we need to go out and do next? Robin. Well thank you very much first of all for having me on this panel. Hello to the global shapers out there. Thank you for doing the awesome work that you guys are doing. So I'd like to pick up on a few things that folks have mentioned. So you know a sense of responsibility for everyone that's involved as well as you know the young people of the world are watching but we are also acting. So it's an interesting kind of time to be a young person in this world. I remember growing up like growing up last I guess a couple of years and people would come up to me and say oh you know you're doing such great work and I don't remember what I was doing when I was your age. Definitely not what you're doing. And I just had a moment of reflection with my fellow shaper Carl this morning on that and saying well it's funny that we are in this position as young people. It's not that you know we we did wake up one day so you want to make a change but it was more so we don't have a choice. So we don't have you know necessarily a choice as a young person not to take action and not to be part of this movement. And yeah so that was kind of an interesting reflection on that. But to the point of you know yeah making sure that we are taking a sense of responsibility for this and we are taking action in the global shaper community. Of over you know 10,000 young people around the world in over 150 countries now we are working on this specific issue around climate and environment. And we've set some ambitious targets for ourselves because that's what's needed. So you know by 2020 we're hoping to engage and mobilize over one million people to take climate action either on a policy side and or through climate action in the local communities in which they're from. So it's this interesting it is an interesting time and I think there's like this unstoppable movement. And as you mentioned the UN Secretary General did mention that this movement is because of the youth. And so we're here not only to you know ask our world leaders to raise their ambitions but we're also here to take part in that ambition and executing on that ambition. Yeah so you think I'll leave it at that. No thank you that was brilliant. I think there's something brilliantly scary for the older generation about this movement. Not least for the politicians who can see a vote bank going in a certain direction or for companies or businesses who can see customers or actually employees as well they're trying to attract. So it's almost like the power is shifted you know from before when I was growing up and it's these big corporations and governments and actually there's a kind of a younger generation going well you know I'll vote that way I'll use these things I won't use that. It's very very interesting what's going on so do not underestimate that million kind of person network do not underestimate that series of influence and go for it would be. I'd say the the tone it's come out certainly of the of the summit ambassador which is extraordinary times very very exciting times and. Remarie does it sets it up for a very interesting challenge you're closely involved with the UK government who will be expected to host the COP 26 in Glasgow in Scotland at the end of 2020. That's a particularly important milestone in the more sort of intricate world of the climate process when this Paris agreement everyone talks about is supposed to begin and there's supposed to be higher ambition from governments to reach these targets. So there's a journey to go on between today and the end of 2020 and as well given all of your other backgrounds and influences hugely influential in the kind of financial space. I don't want to call it green finance anymore that sounds a bit sort of segmented but in the proper finance space. How are you feeling about where we're getting to and what messages would you give particularly perhaps to others in the audience who have not only from corporations but also from the financial community. I mean you've been in many boardrooms and meetings I'm sure we're trying to convince people this isn't some sort of random campaign. It's actually pretty core to the future but we'd very much welcome your thoughts and reflections. Thanks ever so much Dominic and thanks to the wealth. I think Catherine already made some excellent points about how vital it is for finance to play its role and it's vital for two reasons. One of which is finance is going to be a key enabler of the investment in the transition. The trillions needed for us to invest in our economies cannot be met by the public purse alone and therefore will require the inclusion of the capital markets and the institutional investors. And a second reason is that there are 42 central banks and eight observers who have come together in the network for greening the financial system. Because they recognize that the single greatest systemic risk that faces the financial industry is climate change. And that the political and economic fallout of having an unstable a financially unstable financial services sector is something that as you say green finance sounds like a very confined label but its implications and its amplifications across all SDGs is huge. I want to share my story about coming through customs if I may in that they're obviously doing a bit of a routine down there. When I arrived I was asked why I was in New York and I said very proudly that I was here for climate week and the guy asked me and sort of Jesse said you were a protester and I went no I'm a banker which really threw him. But I think it makes a bolder point which is that none of us have been through a zero carbon transition before. And your words ambassador about having a space yesterday where you brought together such a diverse set and a broad set of people across industry across science across politics across finance. As financiers we're going to have to seek inputs from a far broader set of stakeholders that we have ever had to do historically. Green finance is about embedding science into everyday financial decision making and that isn't something that we've had to do previously. So in recognition of this the UK government as you say hosting the COP next year jointly with Italy have set up a green finance institute and I'm the very proud first chief executive of that effort. And we're bringing together policymakers and the city of London to look at real economy outcomes and figure out how do we start channeling and mobilizing capital towards the transition. Looking at risk is incredibly important but we cannot finance the transition unless we actually deploy the capital. And we know as Mayor de Melasio reminds us this morning and I did like to hear from the mayor of the city that never sleeps telling us we all have to move faster. I thought that was a particular highlight but we know that we need to recognize what those barriers are and work collaboratively using knowledge share from different sectors to break down those silos and get the money moving. And so 12 weeks ago we launched our institute and we focused particularly on the decarbonization of buildings. This week we announced a coalition yesterday we announced the coalition to look at climate resilient infrastructure both in the UK and globally. And we're also looking at commodities and the deforestation from palm oil and soy and making sure that those commodities when they come into the supply chain in the UK are not causing further environmental degradation. And in this the UK has a fantastic case study and I'll finish on this because I don't want to talk in platitudes or aspirations I prefer to talk in actual results. 40% of global wind installed wind capacity sits around the British coastline which is an incredible achievement and has led to great prosperity and the rejuvenation of certain economic areas in our country. And that is a fantastic case study of targeted policies that were brought out specifically to look at bringing out contracts for difference for example, bringing out auctions to create a marketplace for the offshore wind and the energy provided. Also aligning seabed leasing with land leasing at a particular point and importantly bringing finance into the equation by setting up the UK Green Investment Bank many years ago which met the funding gap and crowded in private investment today. That industry is financed entirely by institutional investment or private investment but it shows what can happen when there is collaboration between public and private sectors towards genuine ambitious goals. Thank you so much. We'll have to draw ourselves to a close here. We could go on but across the politics that we heard from the mayor across large scale innovation companies across heavy industry, across the financial sector, across the youth and across the United Nations family this mobilisation of bringing together these different stakeholders has been unlocked I think by this process ambassador. So thank you again. But it's going to be a tough journey and if we're going to come back again in the year to your point, Rianmarie, be very good to have some specifics in terms of what we've got under our belt. If you could give me a round of applause for our panel.