WEBVTT 1 00:00:00.310 --> 00:00:03.440 Emma, thank you so much for joining us today. Obviously, 2 00:00:03.440 --> 00:00:06.040 the climate topic is a phenomenally important one, 3 00:00:06.180 --> 00:00:10.240 and adaptation and resilience is one that we're focusing on more and more, 4 00:00:10.240 --> 00:00:14.960 working with governments and DFIs and companies too on this topic, 5 00:00:15.180 --> 00:00:19.480 and we're really delighted that we're gonna be joining your coalition, CCRI. 6 00:00:19.810 --> 00:00:24.600 So I just wondered if you could share a little bit about CCRI and what you aim 7 00:00:24.600 --> 00:00:26.200 to do and what you are doing? Well, 8 00:00:26.200 --> 00:00:29.880 it's fantastic that BCG is going to be part of the Coalition for Climate 9 00:00:30.200 --> 00:00:33.560 Resilient Investment. We've got 129 members, 10 00:00:34.030 --> 00:00:38.240 $27 trillion represented within the membership, 11 00:00:38.800 --> 00:00:41.240 it's a fantastic coalition, 12 00:00:41.690 --> 00:00:45.800 a radical coalition of governments, different organizations, 13 00:00:46.080 --> 00:00:49.240 financial institutions, insurers, scientists, 14 00:00:49.620 --> 00:00:54.000 all working together in the real economy to deliver 15 00:00:54.340 --> 00:00:58.960 integration of adaptation and resilience into investment methodologies. 16 00:00:59.010 --> 00:01:02.400 So whether it's systemic risk or asset level risk, 17 00:01:02.630 --> 00:01:07.600 it's fantastic the way the coalition has grown since it was launched 18 00:01:07.600 --> 00:01:12.000 in 2019, only three years ago. As you say it, 19 00:01:12.000 --> 00:01:15.520 it has to be a coalition. We have to have all these actors involved, 20 00:01:15.520 --> 00:01:18.760 and we find that in all the work that we do on this topic, 21 00:01:19.080 --> 00:01:24.000 we have to be working with the private sector, with the ministerial teams, 22 00:01:24.000 --> 00:01:27.520 with the local planning teams, really great to be part of that. 23 00:01:27.520 --> 00:01:32.240 I think this is how BCG can help the coalition because we've had a 24 00:01:32.240 --> 00:01:35.680 fantastic mobilization of practitioners doing the hard work, 25 00:01:35.680 --> 00:01:39.000 getting to the place where we were able to launch PCRAM, 26 00:01:39.000 --> 00:01:42.680 which is the Physical Climate Risk Assessment Methodology, 27 00:01:42.680 --> 00:01:46.960 getting into the detail of asset level 28 00:01:46.960 --> 00:01:47.793 assessments. 29 00:01:47.980 --> 00:01:52.760 But what we need to do now in the next phase and in the run up to the next 30 00:01:52.760 --> 00:01:55.640 COP and throughout this next year urgently, 31 00:01:56.050 --> 00:01:58.760 is make sure that more governments, 32 00:01:58.950 --> 00:02:02.240 more senior leaders are aware of the work. 33 00:02:02.330 --> 00:02:07.280 Because what's become very clear to us is the scale of events, 34 00:02:07.280 --> 00:02:12.240 climate shocks that have taken place right now. And we are not going to get 35 00:02:12.240 --> 00:02:17.040 to net zero without embedding strong adaptation and resilience plans 36 00:02:17.040 --> 00:02:18.560 into our investment strategies. 37 00:02:18.810 --> 00:02:23.720 So this is vital to adopt at pace and at scale as quickly 38 00:02:23.720 --> 00:02:24.290 as possible. 39 00:02:24.290 --> 00:02:29.040 So I think you will be a huge asset to the coalition in helping us 40 00:02:29.040 --> 00:02:31.840 achieve those goals over the year to come. Well, 41 00:02:31.840 --> 00:02:34.920 rest assured that's exactly what we want to do, 42 00:02:34.920 --> 00:02:38.960 and we want you to really call on us where our expertise can be most useful, 43 00:02:38.960 --> 00:02:43.840 whether it's at that sort of convening space or whether it's actually on the 44 00:02:43.840 --> 00:02:46.680 analytical space or on relationships or whatever. 45 00:02:46.680 --> 00:02:50.440 So we are really keen to support in whatever way we can. 46 00:02:50.800 --> 00:02:52.200 Maybe just to conclude, 47 00:02:52.270 --> 00:02:56.040 it'd be really interesting - here we are halfway through COP - what's your 48 00:02:56.040 --> 00:03:00.560 perspective on adaptation resilience and where things are getting to here? 49 00:03:02.620 --> 00:03:05.510 I still think we've got a long way to go, 50 00:03:06.170 --> 00:03:09.750 but based on the previous COPs I've attended, 51 00:03:10.150 --> 00:03:14.790 based on the time I have spent focused on adaptation and resilience, 52 00:03:15.220 --> 00:03:20.070 I can feel momentum building. But as I leave COP today, 53 00:03:20.070 --> 00:03:24.470 I'm only here for a week, I am so eager to return home, 54 00:03:24.970 --> 00:03:29.430 not to rest, but to get into that action and implementation phase. 55 00:03:29.480 --> 00:03:30.350 So for me, 56 00:03:30.570 --> 00:03:35.070 I'm already thinking about what needs to be achieved over the next year, 57 00:03:35.070 --> 00:03:39.630 making the most of all of those convening moments where we can 58 00:03:39.720 --> 00:03:43.790 discuss with governments, with civil engineers, 59 00:03:43.980 --> 00:03:46.230 with those developing the projects, 60 00:03:46.490 --> 00:03:51.030 how we make sure that resilience and adaptation is in the core of that thinking. 61 00:03:51.200 --> 00:03:52.270 So that's where I am. 62 00:03:52.270 --> 00:03:56.790 I want to leave here knowing that the talks are midway through, 63 00:03:57.130 --> 00:04:01.990 but with that desire to move to that next phase of delivery and build on the 64 00:04:01.990 --> 00:04:04.990 projects that we've already seen, fantastic projects in Jamaica, 65 00:04:05.250 --> 00:04:07.150 but how do we help the rest of the Caribbean? 66 00:04:07.890 --> 00:04:11.870 How do we help others around the world? So an exciting time, 67 00:04:12.250 --> 00:04:16.670 but we just have to get on and act. Fantastic. Well, let's do that together. 68 00:04:16.709 --> 00:04:19.230 Thank you so much. Thank you. Thanks for having me here today.