WEBVTT 1 00:00:03.810 --> 00:00:06.780 Climate Investments is a billion-dollar investment fund 2 00:00:07.970 --> 00:00:11.020 with a unique goal to reduce emissions. 3 00:00:11.020 --> 00:00:13.310 We are backed by some of the world's largest 4 00:00:13.310 --> 00:00:15.200 oil and gas producers, 5 00:00:15.200 --> 00:00:17.540 and this gives us a unique platform 6 00:00:17.540 --> 00:00:20.350 because we not only deliver capital, 7 00:00:20.350 --> 00:00:25.010 but we are also able to pilot and deploy these technologies, 8 00:00:25.010 --> 00:00:28.310 and therefore scale them worldwide. 9 00:00:28.310 --> 00:00:31.070 Solving the climate challenge is by necessity 10 00:00:31.070 --> 00:00:33.520 a collaborative exercise. 11 00:00:33.520 --> 00:00:36.080 This challenge is much too large for any one country 12 00:00:36.080 --> 00:00:39.070 or any one company. 13 00:00:39.070 --> 00:00:41.070 We have to work together. 14 00:00:41.070 --> 00:00:44.740 And so coalitions like the Oil and Gas Climate Initiative 15 00:00:44.740 --> 00:00:47.573 are critical to drive the industries forward. 16 00:00:49.550 --> 00:00:52.640 The climate challenge is a systemic problem, 17 00:00:52.640 --> 00:00:56.370 and it arises from all our human activities- 18 00:00:56.370 --> 00:00:58.450 from the food we eat to the clothes we wear, 19 00:00:58.450 --> 00:01:01.630 how we travel, and how we heat our homes. 20 00:01:01.630 --> 00:01:04.730 So we need to look across the entire system, 21 00:01:04.730 --> 00:01:07.590 and that is why collaboration is so key. 22 00:01:07.590 --> 00:01:10.550 The success of our fund is measured by its carbon impact- 23 00:01:10.550 --> 00:01:13.710 so reduction of carbon from our investments 24 00:01:13.710 --> 00:01:15.560 and our activities. 25 00:01:15.560 --> 00:01:17.670 Now, that might sound simple to you, 26 00:01:17.670 --> 00:01:19.940 but it's actually a new art, 27 00:01:19.940 --> 00:01:22.540 and there are no standards in the industry. 28 00:01:22.540 --> 00:01:24.990 So again, we're collaborating. 29 00:01:24.990 --> 00:01:27.670 We're working with a whole bunch of other funds 30 00:01:27.670 --> 00:01:31.520 to develop methodologies that we can all adopt 31 00:01:31.520 --> 00:01:35.300 so we have common terminologies and common success. 32 00:01:35.300 --> 00:01:37.800 We've been working with BCG since the inception 33 00:01:37.800 --> 00:01:39.280 of this fund. 34 00:01:39.280 --> 00:01:42.210 They help us with our strategies, 35 00:01:42.210 --> 00:01:44.410 and they help us understand how we can deliver 36 00:01:44.410 --> 00:01:45.960 those strategies to the market. 37 00:01:46.800 --> 00:01:49.460 What's been really unique about this partnership 38 00:01:49.460 --> 00:01:52.480 is the unflinching honesty 39 00:01:52.480 --> 00:01:54.600 and the collaborative spirit 40 00:01:54.600 --> 00:01:56.660 that this team has brought to us. 41 00:01:56.660 --> 00:01:58.890 And that is what we need to do together 42 00:01:58.890 --> 00:02:00.037 to drive change.