 OK. Good morning everyone. Welcome to another day in Davos. My name is Dominic Warray. I am the head of public private partnerships here at the World Economic Forum and we have a little kind of media briefing for you on climate change. You'll have noticed in the program for Davos in 2017 in our global risk reports and in other products we've created in and around the annual meeting this year that climate change and action on climate change is a key theme. We have a changing political context in the international sphere so there are some very interesting rhythms that are going on in the global decision making process and I'm delighted with the panel that we have for you here today to perhaps discuss their reflections on some of these issues, the importance of climate change action, and to look to the year ahead and see what might be the most important trends and things to focus on. We are joined this morning by Patricia Espinosa, who is the Executive Secretary of the United Framework Convention on Climate Change, and if you're looking for anybody who's at the apex of everything that's going on internationally on this topic, Patricia is your person. We're also joined by Lord Nicola Stern, the President of the British Academy. Mae'r gwrthodau cyforfod yw'r amser maen nhw'n gweld eich dweud y dyfodol o'r reportau ddiwedd y 2007, ac mae'n 10 oed bwysig. Gweld eich dweud, mae'r reisio'r unrhyw ymddangos o'r ffordd mwyn i'n gweithio i gael eu cyfnod, ac mae'n gweithio i'n gweithio i gael ei ffordd. And then also by Jennifer Morgan, the Executive Director of Greenpeace International, who as an organisation probably need no introduction one of the foremost campaigners on climate justice, climate action that we have on this planet. So a great spread of public sector, civil society and leading intellectual, academic and scientific thought for you. So with no further ado, let's jump into the conversation and we'll start maybe with you. Some people might say given some of the changes politically that we've seen recently that maybe there's a weakening of political interest globally on climate change that Paris has solved the problem back in 2015 and we're all moving on to other issues. Do you sense that there's a lessening of momentum on climate change amongst the countries and governments you're dealing with or is in fact momentum growing on this topic? Thank you. Thank you Dominic and thank you all and it's great to have the opportunity to speak about this very important issue that as we all know has been given a very predominant role in this session of the World Economic Forum and I think it has, they have done so and it's happening like that for the very good reason that we continue to be affected by the effects of climate change and climate change produces loss of lives, loss of livelihoods really a lot of suffering by mostly the most vulnerable people. So fortunately actually what we are seeing after Paris is not only momentum has been maintained but I would say there is a lot more enthusiasm and there is clear tendencies that are coming up not only from the side of governments which by the way they have made a record in international politics by managing to get the Paris Agreement entering into force in less than one year. It's a very complicated and very complex agreement and it was ratified in a record time as of today over 125 countries have ratified it. So that's a very clear signal that momentum has been kept. In international politics also there have been some significant agreements reached at ICOE on hydrofluorocarbons as well. So I would say that in that regard it's very clear the momentum and the spirit of Paris has been maintained not only on the side of governments but also on the side of business and civil society in Marrakech and probably against the expectations or the fears. We did manage to get a lot of enthusiasm. We managed to get the Marrakech partnership for global action being launched with an incredible number of initiatives and commitments being announced by business and even groups of individuals. So I would say Dominic that fortunately we are in a situation where people are realizing that climate change is about the well-being of people. Businesses are realizing also that climate change is about competitiveness. It's about opportunities and at the political level we have a scenario where there is really broad agreement that we need to continue to be working on this agenda. That's fantastic. Well we see certainly at the World Economic Forum more interest than ever before from business leaders, investors, technologists and governments to discuss the issue and get into some detail on the topic. If I may, what's the agenda for the year ahead for you at the UNFCCC? There must be a lot of work to do. There is a lot of work to do. We will have the next conference in Bonn. Bonn not as Germany as a venue but Bonn as a venue of the UNFCCC secretariat and it's going to be presided over by Fiji. So this is already a very special feature, very novel development, a small island country presiding over this huge conference where the secretariat of course will provide all of the support it is required. What do we need to do there? We need to continue working on what we call the rule book of the Paris Agreement which is the manual. What do we need to make the Paris Agreement operational? What are going to be the methodologies that we will use in order to make measurements? How are we going to ensure transparency? What are going to be the provisions, the prerequisites for providing support in terms of financing, in terms of technology to developing countries? So all of that needs to be done. At the same time we need to keep a movement and by movement I would say we need to get the action agenda continuing and getting all the different stakeholders engaged because this is an agenda where governments alone cannot deliver. We need really the participation of business of civil society, of individuals, of scientists, of everybody in the world. Thank you. Lord Stern, if I can turn to you, you're well-renowned as one of the leading economists in this space and you've done some amazing work recently with the new climate economy on the infrastructure opportunity that the climate change challenge offers. But I guess also you've seen in the World Economic Forum meeting these past few days there's a lot of other discussions around economics as well on the challenge of growth and inclusivity. I wonder what your reflections are on these various strands of the agenda. Thank you. Thank you Dominic and Nick will do. The story of climate and sustainability, inclusivity and growth is one story. They are intertwined, mutually supportive. If you look at what's involved in climate action sustainability, tremendous amount of it is around efficiency and that's good for growth and living standards. A tremendous amount is about cities that function well, cities where you can move and breathe and be productive. Sustainable infrastructure is at the heart of the story of sustainability over time. We will more than double our infrastructure in the next 20 years in the world, more than double. Is that infrastructure going to look like the old one or is it going to be very different? If it looks like the old one we're in deep trouble because we will not then reduce emissions at the pace we have to. To be well below two degrees which was our Paris target and very sensibly so because if we're two degrees and above the world becomes a dangerous place. So if you look at the bits of the story of what's involved in a much more sustainable climate friendly world you can see the reasons I've described that this is the growth story. This is a story of rising living standards of well-being more generally but also a productivity even in a sort of rather conventional and not very imaginative sense of productivity that we have when we sometimes think about growth. This is the growth story of the future. Infrastructure investment will give you the extra demand we desperately need now and of course you would want that done in a way that is investing in the growth story of the future. In the medium term you drive innovation, creativity, discovery of the classic Schumpeterian kind. That's the medium term growth story and there is no high carbon long term growth story and the attempt at that would self destruct on the awful environment it would create. This is the growth story in the shorter term, the medium term and the only one in the longer term. So if you talk about sustainability, climate friendliness, climate responsibility and growth I hope what I've said makes it very clear that these are mutually intertwined, supportive. Actually you can't have one without the other. What about inclusivity? Well cities that function well where you can move around are very important for poor people. They usually travel further for their work than richer people. If you look at rural areas, there are, depends how you measure it, probably a billion or more people without access to power in the world. If we can do that in a way that gets them very quickly, for example decentralized solar energy, they are much more able to participate in the economy. The children are much more likely to be educated as they can study in the evening. That particularly affects girls and women who are usually tasked with finding the fuel if there is no other form of energy. So the inclusivity story, I've just given a couple of examples, one city and one more rural, but it's much more beyond that. Solar panels need to be put somewhere, somebody's got to do that. That's quite labour intensive activity, maybe quite capital intensive to make them, but the job of putting them in the right places involves labour as well, much more than you find in fossil fuels. So wherever you look, you see that intertwining of growth, inclusivity and sustainability or a climate responsibility and that's absolutely fundamental because all these three things matter and the fact that they're self supporting, in fact you can't have in any long term way or medium term way one without the other, is a fundamental importance and we have to speak of them together because that's the way the world comes to us and that's the way we can make the world. That's fascinating that really kind of turns on its head this perhaps rather old fashioned idea that anybody who wants to tackle climate change is putting a break on the economic growth and innovation. What you're saying is quite the reverse, there's inclusivity, there's innovation, there's new technologies, there's access to energy, there's jobs. We're not talking about forever, we're talking about the next 30, 40, 50 years where we have to break the link between economic activity on the one hand and emissions on the other and that period of the next 40 or 50 years which will shape the future of the planet is a story of very exciting growth and change and inclusivity. I'm not telling you that growth goes on for hundreds of years, I don't know, but we do know that if we are not responsible about the climate it gets stopped pretty quickly. I have to ask Nick, are you hopeful, do you feel more optimistic than when you produced the report 10 or 11 years ago? I'm enormously optimistic about what we can do. If you see how the world has changed in the last 10 years or so, who would have thought that the cost of a solar panel would have come down by a factor of around 10, divided by 10 roughly speaking, maybe more in that time period. Who would have thought that the major car manufacturers of the world would be making plug-in hybrids or electric cars? The advances we've seen in buildings and insulation and what we're starting to see in energy storage and so on. That has been an amazing place of technical progress and it shows that if you move something up the social and economic priorities the creativity of people is quite remarkable. I mean, HIV aids moved up because it forced itself on us and there was a very powerful, turned out to be a very difficult problem actually but in terms of the medical side of it. There was a tremendous response. If we move the issues up, things happen. I've been astonished by the way in which technical progress has moved. We have Bertrand Picard here. Who would have thought he'd be flying around the world on a solar aeroplane? He would have thought that 10 years ago but I'm not sure the rest of us would have thought that 10 years ago. It is amazing what's possible and we're only beginning. That I think has been very exciting. The climate side is more worrying than it was 10 years ago. Many of the things that we knew were happening are happening quicker than we thought and that is really worrying. The temperature story has gone on being a bit more powerful. Technology better than we thought. The climate science is still more worrying than we thought and the political will, it's varied. But what we, it's been slower than I'd hoped, but what we saw at Paris in December 2015 was quite remarkable. Let me bring in Jennifer Morgan if I can as the head of Greenpeace. The climate story is worrying, Nick Stern says, so perhaps there's some illustrations of where we seem to be at in terms of how worried we should be. This idea of the movement that one needs to make it happen, your perspectives on where we are on that from civil society and the great campaigns that are led to really force this into the agenda and make people not only take it seriously but unlock the innovation and the opportunity that has been described by our other panellists. Absolutely, it's great to be here and be on the panel and share some of the thoughts of the supporters that all stand behind me as the head of Greenpeace. I think one trend to note and then where we are, I think climate change is starting to get to the point where it needs to be, which is front and center of every conversation. And if I think about before Paris, it was kind of an environmental issue over there, I feel that Paris helped it become part of the core that everyone needs to look at. If I think about, I was here two years ago in the climate change conversation, which was I think an attempt on the other side and now as you noted and I have noted that climate change is a discussion that is in many of the conversations here. So it really is though about the pace and the scale of the change and perhaps next year we can have the whole thing be about climate change because I think it is so intrinsic to everything and the risk that were pointed out in the report as being top risk on the implementation of mitigation and adaptation. So can we get there? Okay, we get that this is a massive problem and opportunity, but what are we doing? I think people get it more than ever because it's impacting their daily lives. And I see it both on the level of urgency. For example, you have right now people, whether it be students in Oregon, whether it be I'm meeting tomorrow with the Swiss grannies. The Swiss grannies is an amazing group of elderly women who are taking their government court for their lack of implementation, lack of action on climate change. They're here tomorrow, I'm going outside to meet them. You have Filipino who suffered from the typhoon who have gone to the Human Rights Commission in the Philippines. That commission has now written to all of the carbon majors asking them for their plans on climate change. They are continuing that work. You also, though, see our ship, the Rainbow Warrior, was on its way to Marrakesh, a Sun Unitsus tour. Tremendous hope, tremendous action of people all the way started in Beirut in a part of the world when wouldn't necessarily think that solar is real. And mayors and schools and moms and dads are all working to make that possible because they see it. It's affordable. It's moving forward. And I think the other thing about the job side of things and the movement is, as Nick said, the jobs are real and there are a lot of jobs in the solar industry. They have to keep moving forward on bringing them in and they're very job intensive. But also I think what we're working on is to find a just transition for the jobs that need to transition away. And I think that's a very important thing and Greenpeace is very committed to that, working with the labor unions to make that part of the justice story real. That level of deep determination in the public along with things like showing up in the streets around certain things, pushing for this and that. But I think the level of creativity that I see of our supporters and many, many others is important and I would even go to say that the movement is every all of us. Because if I look at the 630 companies and investors that signed a letter to the new Trump administration saying keep climate front and center, if I look at the mayors that came together at the C40 conference who are moving forward, they get cities. This is real. This is our air. This is the way people get to work. This is our children's health. So I think that if you combine that then with President Xi Jinping's speech yesterday, no one's mentioned that. But I think that was quite a remarkable moment and a very clear statement from the Chinese president that China is moving forward. This is what they see at the center of their economic development and they see a responsibility on the Paris agreement. So it's not fast enough or big enough yet and that's what we're after. We have to peak emissions. They're going in a decent way but by 2020 and have a rapid decline after that there's opportunity in that disruption and in that change. But everyone here needs to have internalized that and go back home and think how am I going to make that possible in my life and in the corporation or the government where I'm working. I just want to pick up on the point which Jennifer underlined just at the end there. The issue isn't any longer about the direction of change. That argument I think now is an argument that people understand and they embrace and with enthusiasm it's not just a fear which is well founded about what happens with unmanaged climate change. It's also the opportunity of developing, growing, doing things in a different way that's so attractive. That I think is increasingly shared around the world and it's reflected in the kinds of examples we've given. That's the direction of change. What's worrying is the pace and the pace of change is simply not fast enough. As I said a little earlier, if we get in the next 20 years our infrastructure investment wrong, that will be more, we're putting down more than the infrastructure that we have already in that time. If we get that wrong then any chance of two degrees is lost. To get infrastructure investment moving strongly and in the right direction in the next 20 years means moving quickly now. It takes time to build these things. Those decisions have to be taken now. The concern for infrastructure around the world and its centrality is growing. When, for example, President Trump said he's very keen on infrastructure investment, that's surely a good thing. I hope that that infrastructure investment will be modern, clean, smart and resilient. Would you want it to be outdated, dirty, not so smart and fragile? That wouldn't seem to make much sense. How we do this infrastructure investment, which is increasingly accepted as a strong way forward, how we do it is absolutely critical. Thank you, and I saw in terms of the pace issue, and President, you are nodding vigorously. We'll come back to you in a second. Is there any kind of questions or ideas from the briefing? Just let us know who you are for the purpose of the... Javier Blas from Bloomberg News. I thought it was very interesting that it has taken about 24 minutes of the briefing to talk about Trump. If you think about Paris, the US administration was one of the leading forces in getting the Paris Agreement done. Now you have a much different administration with President-elect, soon to be President, that has so much agreement about the issue of climate change, believing that it's not real. Secretary of State is coming from the oil industry, head of the Environmental Protection Agency who wants to dismantle more or less everything that has been done over the last eight years. Ahead of the Department of Energy, who comes from oil producing estate. Patricia, were you telling us that the momentum is there and nothing has changed? I use with all of this. I find it difficult to believe that the political momentum has not suffered at all. Where are you getting this optimism? If I may also for Jennifer, more or less the same question. How do you see now the political momentum? Can the pace of change that we have achieved over the last few years on climate change continue if you have a US administration that is not playing a leading role as it was in the past? Thank you. Yes, I would say that really stating and firmly believing that the momentum has been maintained does not mean that we don't recognize that there are challenges ahead. And where do I get this optimism? Well, I think that the signals have been very clear. Not only the agreement entered into force, so it's not a legal obligation for all of us, for us in the secretariat, of course in terms of helping countries to comply with their commitments. But it has continued to gather ratifications by countries. So even every week we are getting new countries that are ratifying. So that now we have over 125 ratifications. Just a little over one year after the agreement was signed. It's really a record. So that's to me a very clear signal. We recognize the many challenges that lie ahead. And we, of course, like Nick is saying, we really firmly believe that the process of transformation, the movement has started. Yes, we need this movement to be going at a much faster pace than it has happened until now. We need much more financing to be mobilized in order to allow countries to be able to comply with the commitments that they have made and are willing to fulfill. And we need to be much more efficient in getting the different entities together that can help each other and support each other. But I did want to emphasize, and going back to Nick's and Jenny's first point, that one opportunity that I also see that makes me optimistic about what we can do is the fact that we not only have the Paris Agreement and the NDCs, the goals that are in the Paris Agreement, we also have the sustainable development goals. So, and I believe those have to be seen and addressed together. It's just one agenda on the real, on the ground, in the real world, there is only one development agenda that has to incorporate fully the climate change element. It's not a climate change agenda and a sustainable development agenda. Thank you. Running a little bit out of time, but I guess that was the question of the moment from the floor, Jennifer, so maybe the last word is yours on picking up on that. Sure. So, of course, we recognize that the fossil fuel industry is being proposed to come into the U.S. Cabinet. In fact, it was a Greenpeace young supporter who stood up at the Tillerson hearing and asked other senators to be brave and to reject his nomination. So, and I, but I think two quick things that have happened since the election that give me the hope that you're asking me about. And on the governmental level, what I have seen, number one is yesterday's speech by Xi Jinping, very clear signal. Number two, Chancellor Merkel's G20 agenda has climate change and sustainability front and center. Number three, the climate vulnerable forum at Marrakesh, which is a group of 49 countries most vulnerable to climate change, has said they are moving forward 100% renewables, which is the infrastructure we need for that. And they're ready to do more in knowing full well who the next president of the United States is going to be. And domestically, it's just important to know that it doesn't happen from one day to the next that a president comes in and changes these things. The Clean Air Act has been in place since Richard Nixon's time. Environmental organizations are ready to sue if they are not implemented. And there is so much support around the country for action from all of these communities, the business community, mayors, et cetera. So, yes, we are ready and but I think also we are working united with people from all over the country in the world who are ready to move forward. And, you know, it can come. Thank you. So that doesn't sound like a cop out to me at all, which was the rather provocative title of this media briefing. Thank you, panellists, for that discussion. I'm sure there will be some follow up afterwards. And thank you for watching and listening through the social media. That's the end of our media briefing on climate change at the World Economic Forum annual meeting 2017. Thank you.