WEBVTT 00:00:00.200 --> 00:00:02.120 Sunita, thanks a lot for joining us today. 00:00:02.120 --> 00:00:03.160 Thanks for having me. 00:00:03.560 --> 00:00:06.840 So COP28 has been exciting with thousands of people here, a very 00:00:06.840 --> 00:00:09.800 active presence of the private sector with lots of C-Suite 00:00:09.800 --> 00:00:11.640 conversations taking the leadership. 00:00:12.200 --> 00:00:14.120 But as they say, the tone starts at the top. 00:00:14.640 --> 00:00:17.960 And I was wondering, in that context, and given the hat you 00:00:17.960 --> 00:00:21.440 wear, what do you see the role of governance and boards in the 00:00:21.440 --> 00:00:23.000 climate change conversation? 00:00:23.280 --> 00:00:27.200 I think the environment has been simultaneously fascinating, 00:00:27.200 --> 00:00:29.000 stimulating, very inspiring. 00:00:29.400 --> 00:00:32.600 But as you mentioned, tone starts from the top, and the 00:00:32.600 --> 00:00:35.720 boardroom I feel is not sufficiently represented here. 00:00:35.920 --> 00:00:39.640 We've got the largest mobilization of the private 00:00:39.640 --> 00:00:40.440 sector and 00:00:40.440 --> 00:00:44.720 the guardians, the long-term stewards of companies, are the 00:00:44.720 --> 00:00:46.080 board of directors. 00:00:46.280 --> 00:00:49.880 They need to be aware of the emerging risks that come from 00:00:49.880 --> 00:00:51.200 the climate emergency. 00:00:51.400 --> 00:00:54.800 They need to understand how to measure, mitigate this, and of 00:00:54.800 --> 00:00:57.280 course seize opportunities that are arising. 00:00:57.680 --> 00:01:00.640 This clearly falls within the ambit of directors' 00:01:00.640 --> 00:01:03.920 responsibilities and I would like to see that this very 00:01:03.920 --> 00:01:07.320 important stakeholder group is better represented at COP. 00:01:08.160 --> 00:01:08.720 That's right. 00:01:09.160 --> 00:01:11.880 And I think one of the things boards do really well is to take 00:01:11.880 --> 00:01:12.680 a longer-term view. 00:01:13.000 --> 00:01:16.280 And if there was one issue that requires a long-term view but 00:01:16.280 --> 00:01:18.680 short-term action is probably climate change. 00:01:19.280 --> 00:01:23.120 I was wondering if there were some examples that you had in 00:01:23.120 --> 00:01:25.800 mind of good practices in that direction. 00:01:26.080 --> 00:01:29.680 So in the work that I'm doing at Climate Governance Malaysia, 00:01:29.680 --> 00:01:33.160 which is part of this global network supported by the World 00:01:33.160 --> 00:01:36.440 Economic Forum called the Climate Governance Initiative, 00:01:36.440 --> 00:01:39.760 and also I wear another hat at the CEO Action Network in 00:01:39.760 --> 00:01:40.280 Malaysia. 00:01:40.560 --> 00:01:44.560 What I'm seeing is a bifurcation between businesses who still 00:01:44.560 --> 00:01:48.680 think that this is a reporting and disclosure problem and those 00:01:48.680 --> 00:01:52.880 businesses who are working hard to embed sustainability into the 00:01:52.880 --> 00:01:54.280 DNA of their business. 00:01:54.600 --> 00:01:58.440 They understand that this is a transition which all of society 00:01:58.440 --> 00:02:02.360 wants to see and they want to be ready to deliver the goods and 00:02:02.360 --> 00:02:06.280 services which are just cheaper, faster, better, and better for 00:02:06.280 --> 00:02:07.240 the environment. 00:02:07.680 --> 00:02:10.480 So I do see businesses already working on that. 00:02:10.760 --> 00:02:13.680 It's very clear not all businesses will survive the 00:02:13.680 --> 00:02:17.240 transition, especially when a negative externality like carbon 00:02:17.240 --> 00:02:18.120 is being priced. 00:02:18.920 --> 00:02:22.640 The thought leaders are already looking at nature, and 00:02:22.640 --> 00:02:25.320 biodiversity, and planetary boundaries. 00:02:25.720 --> 00:02:28.880 So I see this very clear bifurcation between those who 00:02:28.880 --> 00:02:32.440 get it and those who still don't understand the extent of the 00:02:32.440 --> 00:02:32.840 crisis. 00:02:33.040 --> 00:02:34.080 Yeah, completely agree. 00:02:34.080 --> 00:02:37.480 And if you were to ask me, I see the glass as half full, and not 00:02:37.480 --> 00:02:39.000 half empty coming out of COP. 00:02:39.000 --> 00:02:39.960 But what do you think? 00:02:40.760 --> 00:02:42.000 I've been so inspired. 00:02:42.000 --> 00:02:45.720 You know, there are thousands working tirelessly behind the 00:02:45.720 --> 00:02:49.080 scenes to negotiate, as observers, to try and come up 00:02:49.080 --> 00:02:52.520 with solutions for this seemingly intractable problem. 00:02:52.960 --> 00:02:55.960 And then there are thousands more, because in total, we've 00:02:55.960 --> 00:02:58.440 got 70,000 people visiting COP this year, right? 00:02:58.720 --> 00:03:01.840 There are thousands more who are supporting this conversation. 00:03:02.040 --> 00:03:05.200 People like you and I, you know, who are trying to engage 00:03:05.200 --> 00:03:08.440 further, push the discourse along, coming up with studies, 00:03:08.440 --> 00:03:11.800 and reports, and opinions, and insights, just to try and help 00:03:11.800 --> 00:03:12.680 facilitate this. 00:03:12.920 --> 00:03:14.920 So I find it tremendously inspiring. 00:03:15.360 --> 00:03:16.040 Thank you so much. 00:03:16.040 --> 00:03:17.240 Thanks for joining us here today. 00:03:17.320 --> 00:03:18.240 Thanks for having me. 00:03:18.240 --> 00:03:19.080 Thank you.