 So good morning everybody and welcome to the opening press conference of the 2018 Sustainable Development Impact Summit. I'm Terri Toyoda, member of the Executive Committee of the World Economic Forum. So just a little bit about the format that we'll follow today. After a brief introduction about the summit I will introduce our co-chairs. Look to them to speak for a few minutes about their role, give us some reflections about being a co-chair for the summit. Then following that I will open up the floor for questions. Try and take a couple at a time and look to the panelists for their response. I would ask that you keep your questions to the theme of the conference. As I'm sure there's an opportunity to follow up for individual conversations about their individual organizations or portfolios as you see fit. So thanks for sticking to the theme of the conference in your questions. In addition to the audience I should mention that this will be live streamed and we do have an audience of over 10 million now on social media. So please do know that this is being widely cast. Last year we had over 500,000 hits and views on the opening press conference. So the message is being sent there well beyond the room this morning. So thank you. So we're particularly excited about this year's summit. It's designed to be a very unique platform. So this year we'll be spotlighting 100 coalitions that we think are the best examples of public private cooperation. And we're bringing everyone together to actually look at how we can build out and expand each one of those coalitions as we think this is the best way to meet the sustainable development goals and the global challenges that we face leading up to 2030. It's really much more than just a meeting. It's an opportunity, a network, a platform for how we think new models of partnership need to form. It's a new way of collaboration. And as the international organization for public private cooperation at the forum we really believe it's our responsibility to try and shine a light and spotlight some of these best examples. And our co-chairs are very much leading the way on some of these initiatives and showing this new form of collaboration. Today I'm honored to be joined by our co-chairs and a Schwab Foundation social entrepreneur awardee. So let me introduce them. We've got Prime Minister Lars Loeke Vasmussen, Prime Minister of Denmark. We've got Barbara Novik, Vice Chairman of BlackRock, Sunil Bharti from Bharti Enterprises Chairman, and Brooke Tiigabu. And she is the CEO and founder of WizKids and we'll learn much more about each of their portfolios. Let me start with the Prime Minister. We've been leading many global and national partnerships, really I think demonstrating and championing this new form of collaboration that we hope to see today. Tell us a little bit more about why it's an important role for you to be a co-chair of this year's Sustainable Development Impact Summit. Thank you. Thank you. Well, I'm pleased to say a few words about that. But first of all, I would like to thank the World Economic Forum for organizing this summit. To me, the Sustainable Development Impact Summit is a unique platform for exactly that, sharing best practices, inspire to action, and to be inspired, so I'm looking very much forward to this. And I'm delighted to be co-chairing the event. It underlines the strong collaboration between Denmark and the World Economic Forum. And I also think it demonstrates that Denmark is ready not only to participate but also to lead and to act. And action is exactly what we need. And this is why I am pleased to share Denmark's know-how on the power of partnerships, so to speak. Because if we are to deliver on the Paris Climate Agreement and the Sustainable Development Goals, we need to bring actors together in new ways, show that sustainable development is also good business. In fact, as I see it, the partnership notion embedded in Sustainable Development Goals number 17 is the key to unlocking the rest of the 16 goals. And I'm pleased to say that Denmark, along with seven other countries, have spearheaded the creation of a new global initiative, partnership initiative called Partnering for Green Growth and the Global Goals 2030, or simply P4G. Together we will facilitate market-driven public-private partnerships within key economic areas to deliver on the Paris Climate Agreement and on the Sustainable Development Goals. And this approach I think holds an enormous potential. Denmark has shown by example that it is possible to become greener and richer at the same time. On windy days in Denmark, all of our electricity is produced by windmills. And we are well underway to reach our goal of net zero emissions by 2015. So I hope that we can help other partners and countries to follow the same path. And I'm pleased that the World Economic Forum has partnered up with Denmark and the P4G initiative. And I'm so delighted that we will host the first P4G summit in Copenhagen next month. And I hope to see many of you there. So by the right now, we are right here taking action as well. And I hope we have a productive and inspiring meeting today. So thank you very much. Wonderful. Thanks to you. And we'll hope for more windy days in Denmark. Great. Barbara, let me turn to you now. I think Larry Fink's famed call out, let's say, to CEOs earlier this year really started to push forward that trend that we're seeing amongst business. And I know there's now quite an investment in investor stewardship going forward or how to engage publicly listed companies in kind of this value creation for the longer term. You can tell us more about that and how you're using this role as a co-chair to try and promote that agenda. All right. So thank you, Jerry, and thank you for inviting me to be a co-chair. I think all of us share as a general theme that we want to leave a better world for our children and our grandchildren. I don't have grandchildren yet, but someday, hopefully soon, don't tell my daughter that. But in all seriousness, I think BlackRock as an asset manager does have an opportunity to lead in this area. And I think, you know, when you think about our overall theme as a company, our objective is to create good financial futures for our clients and some of them are intermediaries for their end clients. And we look at the sustainability. Where can we make an impact? I would break it into four different areas. One is to offer products, and we actually are one of the leaders in sustainable products, whether it's ETFs, it's mutual funds, it's private funds, wind power, low carbon, all sorts of things across the spectrum, and offering products in different markets in ways that clients can buy them if they choose to allocate their assets that way. The second is in both using data and encouraging data. So to be able to make good investment decisions, you have to be making it on real information, and that is a nascent part of the industry. It is improving, it's certainly getting better, but it's something that we have focused a lot of resources on, getting data, improving data, and also doing research on the data to show how you can use this in positive ways in portfolios. The third is what you mentioned, the stewardship. And we look at stewardship as a fiduciary role. We're looking to maximize value in client portfolios, and if you think about the long-term value, a company that is in business 10 and 15 and 20 years from now, that's a very important component. Larry's letter addressed, he called it a new engagement model, and the concept for us is when you look at the assets we have under management in the equity space, 90% of those are in index funds. We follow the index. We're going to own that company, whether we like the business they're in or not, whether we like the management or not, we're going to still own it. So the best way we can encourage change is through engagement and our voting. So this is a very important focus for us. We've already increased the team this year. We're going to continue to increase the team for a while going forward, both resources on the technology side, but also resources on the people side. And then the fourth pillar of sustainability is how do we run our own company? And people don't talk about that enough in the asset management space, and I think it's a question that people should be asking. So we're not in the manufacturing business. We don't have some giant manufacturing facility that's some energy pig. But we run data centers. Data centers are actually very large energy users. We have designed data centers to be very energy efficient and to use hydropower. So that's a way we can contribute ourselves. Here in the U.S., there's a pension for delivering paper to people. And until recently, the SEC required that we deliver reams and reams of paper to mutual fund holders. And we lobbied very hard to get what's called eDelivery. So basically, we can deliver that same information electronically, which is probably the way the consumers prefer it. And if they don't, they can ask for paper. So they've made it, the default is now going to be electronic. It'll take a little while to kick in. But that, to me, is just such an obvious environmental issue and yet one that if we didn't push hard would continue to waste trees, waste paper, et cetera. So I think looking at how people are running their own company, how they're using their resources and their influence to make changes beyond their borders, I think, is a very important component. And again, one that's not really talked about enough. Right. Right. Well, it's a very comprehensive program and I think a real bellwether for other institutions given you are the largest asset management company. So thank you. Hopefully we can lead a little bit. Yes. Thanks for leaning in. And on that note, Sunil, you have responsibilities beyond the chairman of RT Enterprises with GSM, GSMA, as the chairman also of ICC. Tell us about how you're using those roles and how that marries up with this role as being a co-chair. Well, I'm here really in my capacity as the co-chair of this summit, which is an important summit. In fact, an important point in our lives to stop and assess where we are going in terms of the impact of SDGs and how SDGs are being fueled further, accelerated. I also wear two other hats. I'm the chairman of GSMA, the World Wide Telecom Technology Body, which has all the operators of the world, mobile operators and other tech companies. And I've now the honorary chair of International Chamber of Commerce headquartered in Paris. All these bodies are deeply engaged with the UN on the SDGs. And in fact, tomorrow GSMA will be coming out with an impact assessment report of how technology is firing up the SDGs agenda to ensure that there is near enough time to completion of the same. We are monitoring a number of issues there. In fact, the other part that I represent is from the emerging world as opposed to the developed world. So I had a different lens, the way we look at issues, limitations, needs. And if I give you some data points which have been considered a success that would be in sub-Saharan Africa, where child mortality rate has come down by 35%, under five child mortality rate has come down as dramatic as 50%. India which has been making progress, we have had a reduction of child infant mortality at 7.5%. Nevertheless, all of South Asia where we had lots of issue of forced girl child being married away, there's a huge amount of movement there and we are seeing a significant drop in girl child marriages. Parents are themselves now ensuring that the girls are attaining the right age, legal age before they get married. So there are a number of good things happening out there. India has taken upon itself, picking up the Prime Minister, the big climate change agenda. Although India as you know for 10, 15 years have been saying about equally a differentiated treatment because India hasn't had the chance to exploit nature but it took upon a leading role in France. And today Prime Minister Modi is leading the international solar alliance and India has committed to go above 200 gigawatts of solar power within the shortest possible time frame and more and more solar energy is being delivered at half the price of grid power in India. It's been a remarkable achievement. The same happens around the wind. Issues of concern that agitate my mind is really are we moving fast enough? I personally think there is too much restlessness out there. People are young especially in countries like India, Bangladesh, Africa and they're not going to wait forever. And therefore you are seeing some stress in the society as well. So one is that are we moving fast enough? The second part is are we putting enough money at work to ensure that we can achieve the SDGs? The answer to both of them are perhaps no. We need to accelerate a program. There are over $300 trillion of financing in various forms of shapes. How do you focus those finances towards the needs of SDGs especially in those countries which need it the most? So there is a very large agenda out there. The hope comes from my other head that I wear of GSMA. Technology will be able to accelerate the process. Today there are more than a quarter million education apps. So if you have to educate the society the only and the fastest way is not to build more universities and schools which should be done in any case. But you have to go through the digital medium of putting out education in the hands of the people at large. Smartphones are now down to $50. They're powerful computers in your hands. You can do a variety of things on these phones and take up the benefits of the same. Same happens in healthcare, agriculture. I mean I can keep on naming so many sectors which will benefit which are directly linked to reduction of poverty, increasing education, climate issues. All of that guys can be supported. So I'm here to lend my voice both on behalf of my region, emerging markets, Africa and India where I operate, GSMA and ICC and of course the very old person who's been involved with the VEF activities. I co-chaired the Davos Forum in 2007 and I've been deeply engaged with this activity. Right. I look forward to that continued engagement. So finances, technology, but we need to be moving much faster, so great messages. And now I turn to Brookty. You really are the, you embody turning an idea into action. You have a national program that reaches five million children every week in Ethiopia. You're like the Sesame Street of Ethiopia. Tell us a little about that journey. First of all, thank you so much for having me here. It's really an honor to be asked to take part in the session with co-chairs of the summit. I started out as a primary school teacher in Addis Ababa, Ethiopia and I quickly realized that without public kindergarten, my students were entering a school at age seven already at the disadvantage to children their age and other parts of the world. In a country where one third of the population is illiterate, it's heartbreaking to see that children are dropping out in primary school, not dropping out of education and college or high school, but primary school. So I had to find a way to change that. I didn't have many to create kindergarten in every corner of the country, so I was inspired by the lack of Sesame Street to see the television could contribute to early childhood education on a massive scale. So I had no idea how to create television program, editing or anything like that, but my husband and I turned our socks to puppets and our living rooms to production studio. We launched the first educational television program in the country that's called A High Love Learning. It's a Jura family which educates children about science, health, reading and character development. We are now reaching about five million children every week on national television delivering quality education for more than 10 years. Our videos and books are being integrated in the school system in Addis Ababa and expanding throughout the regions. So the road to making an impact as a social enterprise is never easy. I have been turned away hundreds of times by well-meaning partners because I run a social enterprise and not an unprofit organization. Before I was even asked what kind of impact I'm making in my community, I was turned away because I don't take one of the boxes on a form. If we are focusing on impact, we need to put impact first. I'm excited to be in this press conference in particular because we cannot achieve the sustainable development goals without a grassroots movement from within our community. If I were to say one thing about what I would like to see achieved in this summit, it is an increased awareness of the need to find local champions of the issue we hope to address on the ground within the communities we are working with. We need to connect local champions who are filled with creativity, drive and vision with influential leaders like those in this room. I'm encouraged by increase in donors like VCID working with local organization, including social enterprise in my country, Ethiopia, but it does not come easy. Local champions to change within their community are often not ready or equipped to deal with bureaucracy required and working with a large-scale government donor. Local organizations have to be committed to work through the challenge of working with local champions. When those efforts fail, we have to keep trying. We can't give up. We have to ask those local champions whose what aspect of the process are strained on them and learn how to transform ourselves into effective partners for local champions. Just as much as local champions need to transform themselves into effective partners for outside organization. And all the amazing topics are on our schedule over the next two days. We need to remember to reflect do we have the voice of local champions with a drive and purpose to work within the community we are targeting. We need to listen and persevere and be ready to change not just our procedures and expectations but our vision. Empowering local champions to lead the way means that we must be ready to follow. Are we ready to embrace a new structure that drives impact such as social enterprise? Are we ready to scale that impact and innovations? Are we a woman and youth at the center of our design? So the way I see it, the path for making sustainable impact is to connect the passion and vision on the grassroots level to the powerful and influential present in this room. Thank you. That's a very inspiring story and you absolutely gave the right call out to what we need to do to take this all forward. Great. So let me turn to our audience. Yes, please state your name and affiliation and again a reminder to keep to the topic of the summit. Thank you. Thank you so much. My name is Irene Hell. I report for New Speak Middle East and Copenhagen Post. I'm delighted to see three of the biggest champions of the SDG goals and I tell you why. So you Ms. Novik, you BlackRock is probably the most powerful player when it's come to a divestment movement which is about six trillion now. Do you have any updates about your own assets shifting from fossil fuels to green and how your statement said we should go zero to neutral, influenced, all the other powerhouses in the financial world. And now I come to you Prime Minister, Denmark, 2050, you'll be climate neutral and you're still rich and happy and prosperous. So the usual argument is it's too expensive. We only have deaths in our countries, we can't afford to save the environment. Tell me please a little bit more about your partnerships. And now Mr. Mittal, so a legend in India, it's amazing that you're not just taking care of your own companies but you have these new hats going. Can you please tell me how Barthi fueled the Indian economic miracle and how you talked about technology, having technology mitigating the SDG goals. So how can technology help with SDG goal education? How can the technology help? Now India is in much better shape, I think also thanks to your brave statement, investing in mobiles. So how is your own company helping with education and how can Africa be helped out? Thank you. Okay, it's quite a suite of questions. While you ponder your answers, are there any other questions that folks would like to table? Okay, let's start with those. Barbara, I think really the question was about how are you bringing this inside then we'll turn to the Prime Minister on green economy, how are these partnerships, and then to Sunil on technology. So I think a very important clarification is while we manage quite a bit of assets, none of them are BlackRock's assets. All of the assets we manage are on behalf of clients. So we call it asset owners versus asset managers. And it's very important that the asset owners shift because we can't invest in things they don't want us to invest in. We are seeing a shift in allocations. There is an increased interest in all different kinds of sustainable mandates. That includes green bonds, it includes actually green cash now. So whether it's wind power, we have some specialty products in that area, or it's more traditional types of portfolios with a tilt towards sustainability. We have things across the spectrum. We feel our job is to bring those products to market, make it available, educate investors on why these are good for their portfolio. But at the end of the day, they have to make that allocation. We believe that as millennials age, you're going to see an increase in the acceleration of that trend, but that would be an important component to getting to where people want to get. Great. Thank you. Prime Minister. Let me be brief. I mean, you're absolutely right that we are a living example of the fact that you can combine economic growth and sustainability. And I think since I was a child, Denmark is in terms of prosperity. I think we have doubled our wealth. And at the same time, we haven't increased our emission at all. And that is due to investing heavily in renewables. And I mean, the working method has been partnerships, and we have many examples. District heating could be such an example. Combining regulatory framework with investments in research and private investments, et cetera, have led to a situation where many, many private households are linked to this district heating, which makes it much more easier to go green, because then it's not household from household from household. But we can invest in offshore wind farms, et cetera, and create the heating by these kind of resources. And I think what we can offer now is to take these lesson learned to other countries. And the idea behind P4G is exactly that, bringing C40, the network of the biggest mega cities in the world, with private companies, civil society, and countries together. And that's what we are going to do at this summit next week. And it will be very concrete. It's not about talking. We have established a secretariat in Washington, and we have had a global reach out for partnerships. We allowed people to apply. And I think we have received more than 400 or something like that. Applications. Unfortunately, the funding is not, you know, we cannot afford to support 400 projects, but we have selected 25 very concrete projects worldwide, which we are going to announce in Copenhagen. And they are, to some extent, built on the Danish experience. Very good. Well, India has taken upon technology in the early 90s, and we were all very fortunate that India decided to break the state monopoly of the telecom sector and handover to private sector. Lots of companies have come and developed mobile platforms and technology platforms, which are truly helping the society at large. India has nearly a billion connections now. And the pricing affordability is perhaps the best in the world. For less than $2 a month, you get one gigabyte a day. There's no place in the world which can give you those kind of tariffs. It is because of the scale that India enjoys. We are putting about 120 million, which is 10 million a month, of new smartphones into the market out of a billion connection, nearly 350 million R smartphones, and more or less in the next two or three years, almost everyone will have a smartphone in their hand. And as I said, it's a very powerful computer. And with that, you can then ensure that people in the deep rural India, our villages, can use their phones to do a variety of things, and more importantly, education and healthcare activities. Companies like mine also do physical activities. We have over 300 schools and villages, which are our foundation activities. We have over 300,000 little children. We are given free education, mid-term aid, uniform, a computer and school. So I think most of the corporates in emerging markets are realizing that it's important to have a society which is one day hopefully be like your society, Prime Minister. We have probably decades to go there, given the extreme poverty that our countries face. But technology is the solution to my mind. Yeah, you've got to start somewhere. All right, unfortunately, our time is up. Thank you all very much. Thank you for being co-chairs. This has just been a bit of a trailer to two days, 40 sessions. Thanks for joining us today. Thank you. Thank you.