WEBVTT 1 00:00:00.530 --> 00:00:03.240 Charmian, Dave, welcome. Charmian to you. First, 2 00:00:03.300 --> 00:00:05.960 can you just give me an overview of the work that you've been doing with the 3 00:00:05.961 --> 00:00:07.720 high-level climate champions recently? 4 00:00:08.510 --> 00:00:11.280 Yeah, indeed. So HLC, as we call them, 5 00:00:11.920 --> 00:00:14.200 have pulled together a set of outcomes, 6 00:00:14.800 --> 00:00:18.680 which should be achieved by 2030 in the sort of topic of adaptation and 7 00:00:18.681 --> 00:00:22.760 resilience, covering a range of systems that I'll come back to in a second. 8 00:00:22.950 --> 00:00:26.440 I think what's really exciting about this is that these outcomes have now been 9 00:00:26.520 --> 00:00:29.840 enshrined in the Sharm al-Sheikh agenda and outcomes, 10 00:00:29.841 --> 00:00:34.040 which is actually the first example of adaptation and resilience being part of 11 00:00:34.041 --> 00:00:38.400 global policy. And what we've done with them is pulled together some reports on, 12 00:00:38.401 --> 00:00:41.920 for example, food and agriculture and human settlements, 13 00:00:41.921 --> 00:00:43.480 on human settlements, 14 00:00:43.480 --> 00:00:47.000 seven out of ten people will be living in a city by 2050. 15 00:00:47.090 --> 00:00:51.920 So what do city governors need to do in order to create 16 00:00:51.921 --> 00:00:56.000 resilience and add up and sort of adapt the cities for both the 17 00:00:56.320 --> 00:00:59.440 people, so the social side of things, people living there, economics, 18 00:00:59.441 --> 00:01:03.120 so what's it going to do to GDP. But also the natural ecosystems as well. 19 00:01:03.570 --> 00:01:07.520 So that's part of what's in one report We've based that on what we've done in of 20 00:01:07.521 --> 00:01:11.400 major international cities in the developing and the developed world in fact. 21 00:01:12.080 --> 00:01:14.360 And then the second one that we've done is on food and agriculture, 22 00:01:14.361 --> 00:01:16.240 as mentioned, and in order to make the world resilience, 23 00:01:16.960 --> 00:01:19.960 looking forward given drought and climate events and so forth. 24 00:01:20.640 --> 00:01:25.280 There's a whole lot of change that's needed from farmer through to consumer 25 00:01:25.281 --> 00:01:26.760 and what we eat. 26 00:01:26.900 --> 00:01:30.040 And we sort of looked at each of those and who are the actors who need to be 27 00:01:30.041 --> 00:01:31.640 part of bringing about those changes. 28 00:01:31.960 --> 00:01:35.120 We've also done another couple on some of the enablers. 29 00:01:36.070 --> 00:01:40.400 Yeah, two critical enablers, Charmian, Georgie, on planning and finance. 30 00:01:40.650 --> 00:01:42.440 On planning, 31 00:01:42.440 --> 00:01:46.080 one of the key critical enablers is to enable cities 32 00:01:46.260 --> 00:01:47.680 and national governments, 33 00:01:47.880 --> 00:01:51.840 regional governments who have plans in place to understand what are the hazards, 34 00:01:51.841 --> 00:01:56.040 what are the vulnerabilities, the risks that the communities and economies face. 35 00:01:56.540 --> 00:01:59.440 And with that understanding, what are the options you have, 36 00:01:59.880 --> 00:02:01.440 what are the responses you can take, 37 00:02:02.120 --> 00:02:05.120 what are the tradeoffs in terms of deploying resources and so on, 38 00:02:05.121 --> 00:02:09.680 which then feeds into the financing question because having visibility on this 39 00:02:09.681 --> 00:02:14.120 allows you then to make the right choices on mobilizing resources and financing. 40 00:02:14.121 --> 00:02:17.640 And today, the second point of financing, it's a critical gap. 41 00:02:18.170 --> 00:02:23.080 So there's an estimate of 300 billion that is needed by 2030 to fund 42 00:02:23.081 --> 00:02:24.720 adaptation efforts across the world, 43 00:02:24.840 --> 00:02:29.280 which is likely underestimated given the frequency and severity of 44 00:02:29.880 --> 00:02:31.440 climate risk that's manifesting now. 45 00:02:32.040 --> 00:02:36.600 And today we're probably only a quarter of that financing level 46 00:02:37.200 --> 00:02:39.880 on an annual basis. So much to be done. 47 00:02:39.881 --> 00:02:43.200 And we address some of the critical barriers that need to be addressed both in 48 00:02:43.320 --> 00:02:45.320 planning and in financing to UN office. 49 00:02:46.050 --> 00:02:50.520 Charmian, what are the key challenges that leaders across all sectors face? 50 00:02:51.620 --> 00:02:55.160 One of them is the fact that whilst there is a lot of data out there, you know, 51 00:02:55.320 --> 00:02:59.120 can absolutely predict how many storms there will be or heat intensity, 52 00:02:59.280 --> 00:03:00.160 what might happen. 53 00:03:00.920 --> 00:03:04.880 But actually bringing that together to understand what the impact will be on the 54 00:03:04.881 --> 00:03:06.440 people living in a particular city, 55 00:03:06.570 --> 00:03:10.760 on the economics of that city and on that ecosystem of that city. 56 00:03:10.870 --> 00:03:14.200 That's something that is quite hard to do. And then the solutions, 57 00:03:14.600 --> 00:03:17.760 many of them are very costly. Not all of them, but many of them are. 58 00:03:17.761 --> 00:03:21.720 So knowing which of those levers to pull on and so forth, 59 00:03:21.930 --> 00:03:24.000 it is not a straightforward thing. There's another, 60 00:03:24.001 --> 00:03:28.680 So there's the data and the capability to apply that data and do that sort of 61 00:03:28.681 --> 00:03:30.960 analytics. That's definitely a challenge that they have. 62 00:03:30.961 --> 00:03:35.040 Another challenge is that the responsibility for this often lies across many 63 00:03:35.041 --> 00:03:38.600 different areas, whether it's across the agriculture ministry, 64 00:03:38.880 --> 00:03:39.680 Ministry of Agriculture, Ministry of Finance, 65 00:03:39.680 --> 00:03:41.120 Ministry of Economics and Planning, and so on. 66 00:03:41.290 --> 00:03:44.000 So there's a horizontal complexity there. 67 00:03:44.001 --> 00:03:47.360 There's another piece which is actually this can and should be done at a 68 00:03:47.440 --> 00:03:50.760 national level in order to understand overall what resourcing may be required 69 00:03:50.761 --> 00:03:52.880 and where the priorities are. But at the end of the day, 70 00:03:52.881 --> 00:03:56.680 the solutions needs to be understood and implemented at a local level. 71 00:03:56.681 --> 00:03:59.400 So there's a whole sort of vertical piece there that used to be 72 00:04:01.010 --> 00:04:04.440 managed and so forth. And that is, that's not really happening yet today. 73 00:04:05.040 --> 00:04:06.320 So what do business leaders need to do? 74 00:04:06.890 --> 00:04:10.440 So business leaders in the private sector play a critical part in driving 75 00:04:10.441 --> 00:04:12.520 adaptation action. So corporates, 76 00:04:13.000 --> 00:04:16.440 particularly those that have critical supply chains, critical infrastructure, 77 00:04:16.441 --> 00:04:19.920 provide essential goods and services to the economy. 78 00:04:20.640 --> 00:04:24.000 They need to think about the adaptation plans and where they build resilience to 79 00:04:24.001 --> 00:04:26.560 protect their assets and interest of their supply chains. 80 00:04:27.200 --> 00:04:28.480 Investors need to think about this. 81 00:04:28.481 --> 00:04:31.600 They need to incorporate physical climate risk in their investment decisions. 82 00:04:31.601 --> 00:04:35.760 The insurance industry needs to think about how they re-tune their frameworks on 83 00:04:35.761 --> 00:04:39.400 risk and time horizons, and what role they play in 84 00:04:41.200 --> 00:04:45.440 enabling funding and adaptation. So multi-party action and importantly, 85 00:04:45.441 --> 00:04:49.200 this needs to happen in close concert and collaboration with the public sector. 86 00:04:49.201 --> 00:04:52.640 So you get the multiplier impact of private sector involvement, 87 00:04:53.160 --> 00:04:54.960 building resilience, not just for their own interests, 88 00:04:54.961 --> 00:04:56.760 but also for the broader economy and society. 89 00:04:57.740 --> 00:04:59.920 Why is funding in particular so important? 90 00:05:01.490 --> 00:05:04.480 So planning is really the starting point, right? To really understand, 91 00:05:05.000 --> 00:05:08.760 you have multiple hazards like sea level rise, storms, extreme heats, 92 00:05:08.761 --> 00:05:10.560 they're going to hit any given location. 93 00:05:11.090 --> 00:05:14.160 So what's the impact it's going to have on lives, livelihoods, 94 00:05:14.161 --> 00:05:15.440 the natural ecosystems? 95 00:05:15.441 --> 00:05:20.400 What does it mean in terms of economic impact to productivity, 96 00:05:20.401 --> 00:05:24.040 to output, the health care system, to food, to water. 97 00:05:24.290 --> 00:05:28.320 So multiple impacts that come together at various frequencies and severity. 98 00:05:28.610 --> 00:05:31.880 So planning is really the starting point to have an appreciation to understand 99 00:05:31.980 --> 00:05:36.520 how these impacts then translate into socioeconomic outcomes. 100 00:05:37.380 --> 00:05:42.360 And it allows you then to think about and consider the different 101 00:05:42.361 --> 00:05:45.920 options you have to respond to manage the different tradeoffs and allocate 102 00:05:46.120 --> 00:05:50.640 resources to responses that give you higher socioeconomic impact to protect your 103 00:05:51.160 --> 00:05:55.440 region, your economy, your communities. So a critical starting point, 104 00:05:55.580 --> 00:06:00.000 but one that is fraught with many constraints today. There is data, 105 00:06:00.001 --> 00:06:01.440 but access to the data is important. 106 00:06:01.510 --> 00:06:05.880 Having technical capacity to evaluate these things critical for local national 107 00:06:05.881 --> 00:06:07.680 governments, for the private sector, 108 00:06:08.440 --> 00:06:13.360 and being able to integrate this from national government to local 109 00:06:13.361 --> 00:06:17.720 government across sectors is another key part that is much needed 110 00:06:18.090 --> 00:06:20.480 to enable planning to have an impact. 111 00:06:21.270 --> 00:06:23.400 Dave, Charmian thank you so much.