 We had a discussion about how fast the world is changing when we look at investment in landscapes, and it's changing very fast indeed. The Nature Conservancy, after all, has been buying lands for 60 years, but what's happened in the last four or five years is that there's been a realisation that investing in land is just a good idea, that there's enormous returns to be had that are not inconsistent with conserving the natural value of the assets in that land. One of the challenges of the conservation movement when it comes to landscapes is that the focus has been so heavily on carbon and the impact of deforestation and other interventions in landscapes that either reduce the absorbative capacity of those landscapes from sequestering carbon dioxide in the atmosphere or, worse still, in the deforestation process lead to greater emissions directly. And so there's been a global movement, the most visible part of which might be the Red Plus initiative, to try to convert the mitigation of deforestation into carbon credits that could be sold and traded on various carbon markets around the world. We're still in the early stages of that and I think there's a general sense of disappointment that those markets have not already had the impact that people would hope they would have when they were conceived on protecting the tropical forest from further destruction. That it is helping and it will help but it's not the whole story. So what we heard about yesterday was some of the other ways in which landscape can generate investment income and we've also heard about the enormous amount of capital that's available and lining up really on the sidelines to come and participate in this market. So we're a very interesting point in time where that sort of confluence of better understanding of the value of landscape and appetite on the part of investors to invest in those landscapes is converging and I'm seeing a lot of change right now. Yeah I think absolutely there's no question about that. So what are the signs of that? So one sign of it but this will sound a little bit remote from the world of landscapes but one sign of it is that we're seeing a very big movement towards disinvestment from fossil fuel companies. Now that is not just the activity of lobbying journalistic initiatives that's really happening with real investors. You could look at the Norwegian sovereign wealth fund, you could look at fund managers who are looking very closely at the stradded assets question like generation investment management and those are in the vanguard but you're seeing many following them. Many are asking the same question can we really own the shares of coal companies and even oil companies even gas companies in the long term given where the planet's got to go in relation to carbon emissions and the answer is no we can't and people know that it's just a question of how quickly they come to act on it. Now if you start disinvesting from those asset classes where's the money going to go? Traditionally where that money is gone is either been allocated to the rest of your portfolio so you just exit one one class of securities and you redistribute across everything else you own that's one thing you could do but you can also take a more pro actual approach and invest in for example renewables or you can invest in energy efficiency and so forth and there's now the problem with those asset classes is that they're still relatively young and they're relatively small compared with the fossil fuel industry from which you're disinvesting but that's changing very fast very fast indeed and people are seeing that you know investing in solar investing energy efficiency can be very attractive. Now that isn't the same thing as investing in landscapes but what the world is waking up to is the fact that you know one-third of sequestration of carbon emissions is absorbed by tropical forests and other land-based ecosystems and they're saying to themselves hang on a minute let's compare the cost of sequestering or avoiding the emission of a giga ton of carbon let's compare the cost of doing that through investment in restoring or protecting landscapes versus making that an investment of the same amount in energy efficiency or in renewables or other alternative fuels and so there is no question that these are going to converge and there's enough appetite in mainstream investors pension funds life companies sovereign wealth funds banks there's no question they're asking that they're asking the deep questions now about how do we do this not whether we're going to do it but how do we do it