We will go ahead and get started. The Environmental EnergyStudy Institute thank you for joining us back i hope everybody got all the candy. Thank you for joining us this morning we have a wonderful panel and will be learning about the Global Commission of a global call for leadership. The urgency of Climate Change may feel more acute but the issue of Climate Change has been with us for decades. Esi stated in 1988 addressing Climate Change is a moral imperative. Many scientists m Public Policy experts have been working on the issue proposing solutions i hope what were actually seeing his momentum to act there is some evidence this is the case last week i testified before the Senate Energy committee that probably would not have been the case a few years ago in Speaker Pelosi and the House Select Committee is another example. As we know now that inaction on Climate Change makes it harder and harder to achieve. We have to act now to contribute to that momentum constantly reinforce it. So we can inform policymakers of the best and latest data and best practices to share Lessons Learned to help them understand the urgency to make meaningful progress to address Climate Change. All we need to do is start. This Morning Panel is special we have many resources to think and the efi true champion to help moderate. Focusing research on the interface of science and policy principally on issues related to mitigation at the National International level at the school of Public Health in michigan in school Public Policy university of maryland ran a division of the White House Office of science and Technology Policy and lectured on every continent and more than 20 countries i wonder how many rooms in the Rayburn Office building. [laughter] most importantly a member of efi distinguish board of directors and we could not do the work we do without her guidance and leadership so i will turn it over to you. Thank you very much. Good morning i am happy to be on the efi board to advise the commission on adaptation. Let me set the stage. We call it Global Commission adaptation report because coping with the changes that are already apparent from Climate Change is urgent and i word argue we already have delayed so time is of the essence. With that adaptation with half of my life ago working for the Congress Office of Technology Assessment i led the first and only report congress ever asked for on adaptation which included water coast and agriculture. In the second on right was the wetland in the forest in the parks. That was requested by three committees Science Based Technology environment and public worse and one works in transportation so its interesting 27 years ago congress was is already thinking adaptation may be important. The Un Commission on Sustainable Development issued a report 2007 and the World Bank Commission the World Development report focusing for the first time on Climate Change and both concluded then we knew enough to say in 1992 that passed does not prologue and it alters the baselines that planning that we have done over the last 100 years will not work in most impacts will be negative and coastal ecosystems will be challenged in every region of the globe to develop in developed countries prickle that enhance preparedness Response Strategy should be a global priority. The mitigation and adaptation that becomes less effective the faster the pace and total change of Climate Change. So its fitting two of the three commissioners of the Global Commission on adaptation asked for these reports are now serving on the Global Commission and adaptation. From the world bank doing the World Development report and then also being at the un joining forces with bill gates this year so depending on how you count this it took 27 years to get a real call on adaptatio adaptation. And as you know the Paris Agreement by 195 countries if fully implemented would put us on the blue line well past the level that is called for in the paris accord well above the industrial level at least three. Three. It will be hard to cope with that. So all the science and the Intergovernmental Panel on the Climate Change report putting that into one graph here it is. What you can see by the length of the orange bar that already nearterm risk is significant but if we move to degrees or 4 degrees c it gets much more risky. Now proactive adaptation can lockbox some of that risk and thats the great part especially into degree case that adaptation at 4 degrees is less effective and much more costly as you head toward greater change essentially we cannot adapt our way out of a 4degree world. And at the temperatures we have already reached that is not insignificant we are seeing these test ranges shifting north like west nile virus and then moving up into canada and extreme events like the fires disrupting supply chain and causing great pain and then to reiterate the climate assessments that was mandated by the Global Change act of 1990 and we are all very pleased legislation on resilience is emerging on the congress. Natural catastrophes have been increasing. This shows the number of weatherrelated disasters the floods are blue the drought of heat and fire are red. You can see in the mid eighties the number of catastrophes was 200 globally now is 600 and as you know last year alone the fires in california cost 24 billion. In 2017 all of these events cost 312 billion. That is real money we are losin losing. Also more powerful tropical storms. These are just the record setters of the strongest irma and harvey didnt even make it for being the largest and strongest but rainfall was a record of rainfall at 8 inches but irma was the longest endurance. And all of these have happened since 2012. One of the most important changes of science base is this. We say we cant attribute any single event to Climate Change but science has advanced to the point this is no longer true as the blanket statement and that is from her own very distinguished National Academy of sciences. The ability to attribute Climate Change and extreme events is a big breakthrough in science. Just to give you one example the attribution of Climate Change the 2 feet of rain in 2016 in louisiana Climate Change increase the odds of getting 2 feet of rain by 40 percent. Thats a powerful statement. The temperature increase to 1 degree already we are seeing an increase of pain and suffering and cost in fact in the analysis of the extreme events of last year 21 out of 27 were seen to have a clearly increased probability from Climate Change they made those events more likely. Every sector is affected by these ongoing temperatures with the Sea Level Rise. So the Energy Sector is in our mind with lower levels wildfires affects electricity supply. And the power plants in the midwest or sometimes flooded water limits reduce productivity with reduced ability to send cold out rivers the storms are disrupting the Distribution Systems in the cooling water intake could be too hot depending on the weather. These all bring home that frequency and intensity of heat wave are flooding and hurricane hurricanes. Houston had three, 500 year events in three years. Were going to have to change the definition of a 500 year event. Passed is not prologue. And the fire area has doubled since 1984 the area of fires in the us and the burn total and the combined fires in 2017 and 2018 were 40 billion and from her own military two thirds of installations threatened by Climate Change in the next 20 years. Not 2100. So we know there is a lot of infrastructure in the path of storm surge and rising sea leve level. And this Risky Business brought it home after super storm sandy wake up call higher storm level storm surge increase the annual cost along the eastern seaboard by three and a half million in the next decade. By 2100, that number just in those regions could be as high as 507 billion. Investors are sounding the alarm calling for risk disclosure. This was amplified at the un Climate Summit last month. The World Economic forum at davos said Climate Change is the biggest risk to business and now pg e has the first s p 500 Climate Energy the time to act is now the Adaptation Commission they are desperately needed we can delay and pay or plan and prosper. Let me introduce the first of our three distinguished speakers to tell us about the Global Commission on adaptation and its findings. First we had the executive Vice President and managing director of World Resources institute. Before that director of the nonprofit and also served at as a world economist working on watershed and Rural Development projects in asia and latin america and the overall lead for the Global Commission on adaptations. Good morning everyone. I have been looking at this issue the past couple years very carefully and still have so much more to learn. Thank you for that lovely opening. First i suspect what is on the minds of the people the issue we are here for includes baseball with the Washington Nationals. Just to bring these together for a moment i dont know if you saw the Washington Post a couple days ago. An interesting article about Climate Change and baseball stadiums. And how we will need to reimagine how we build stadiums for sports in light of Climate Change. That is something i thought was particularly interesting in light of where we are today. Starting with a short video that says a word or two about adaptation. [inaudible conversations] maybe you can read along left left the unprecedented Climate Change it is a huge threat. 2100 expected more than half are at risk. By 2120 percent of the streets of Lower Manhattan to be subject to title mitigation and Sea Level Rise with extreme heat coastal defenses ins are stressed and then how to bounce back quickly so this is just a little bit so with adaptation if we spend a little time preparing videos from all over the world those that are on the front line and what it means to adapt. What i will do today is take a few minutes to talk about the Global Commission on adaptation and those findings released a couple months ago and then my colleagues will go deeper into what this means for the United States on a couple of issues with Climate Disclosure so lets start you saw the two main objectives one as alluded to talks about adaptation that people have been talking about but not nearly as much leadership and resources to put on this despite the fact quite recently this was the top risk seed by major ceos and annual survey each year. The second wasnt just to Elevate Disability but to mobilize action we want this to lead to whirl real world change on the ground setting this up for people all over the world ministers and mayors in the republican mayor of miami and a wide range of partners that were part of the overall effort the commission was launched one year ago in the netherlands because they mention the last year was trying to set the agenda for what needed to happen with the adaptation next year is translating that report into recommendations. In the point is that we receive a lot of reports talking about the problem Climate Change may create but not a systematic approach to talk about how does the world respond into building resilience and that is what we are aiming to do. There are five messages the report put forward first is about the human imperative of adaptation and second is to rethink the economics of investing in adaptation and the third is to say even with good economics we are not getting what we want to see because the barriers are in the way we need to see the revolution to understand to plan and finance to scale up and create the level of adaptation. The fourth is how we apply that to key economic systems and what that means and fifth is how we stimulate and promote that in the coming year and jumpstart the whole agenda. So the first point on adaptation is a human imperative. Communities and countries that often take the lease to generate the problem will suffer the most but also climate will spare no one. So just to give a couple of numbers we anticipate over 100 Million People around the world will fall back into poverty by 2030 if no action is taken. We anticipate the yield of the major crop could fall up to 30 percent with massive implications for livelihoods. Over 1 trillion per year of damages would take place around the world by 2050. But the real tragedy women, future generations will suffer the most so this is an issue that we know very much exacerbates quality in a much more devastating way. That said we have the argument that adaptation invested in resilience makes good economic sense with a wider range of actions with the returns on developing Early Warning systems with agricultural Crop Production and mangroves are other solutions and what we found every dollar we invested in these adaptations could generate for a five dollars in net economic benefit so this is a significant finding to suggest actually that countries and communities and Companies Make good economic sense for resilience further substantiated by a number of us studies that had similar conclusions. Why is that . Using another baseball example with a picture you may recall the Washington Nationals park which is the only major sports stadium in the country that is leed certified. They actually put nature to work in the stadium explaining the economics why it makes so much sense with three roofs and trees in the stadium that helps with a lot of rain and absorbs the storm water runoff and deal with extreme heat hot days in the summer watching baseball helps to cool the temperature down. Thats why this makes good sense but in addition there are two other major benefits to these investments. A white roof, grass and shrubs on the roof their electricity bills are less they dont have to cool the building nearly as much. There is good economic benefit spec on top of that the aesthetics, it looks nice and recreational benefits that people commoditize and that Still Matters to avoid the losses in the economic benefits are in part of what generates these returns. The third finding is despite these returns we dont see the uptick we would expect because a number of barriers get in the way. Often times climate risk is invisible. We find it very difficult to respond to climate risk because that collaborates between different departments within government and Different Levels of government and federal state with collaboration between public and private sector so that gets in the way of these efforts. We also see people dont really appreciate the risk of tomorrow with a tape make decisions today they recognize the Financial System isnt wired to support the upfront cost associated in investing with resilience. There is a power issue here that those that feel the greatest impact have the least in political voice. This get that why we dont see the scale. So in order to trust the barriers we make an argument of how we understand climate risk and respond to it or integrate climate risk into a public and private decisionmaking and into the Financial Sector to channel those public and private flows. So when we take that, we apply that to the food sector in infrastructure and Early Warning systems and solutions and water and if you take them and apply them wired does one start . If you are sitting in the agency where you start to build resilience . With those key entry points how to integrate into these different areas i have a few examples from around the world how people found some success with a country that is ravaged by cyclones from 197,300,000 lives in absolute tragedy. And cyclones of similar magnitude in 1990 and 2007, 2019 with a dramatic reduction of cost of lives even in bangladesh real commitment of Early Warning systems, shelter , transportation and good communication and resulted in massive reduction of loss of lives. Infrastructure to update codes and standards that are more resilient for more rainfall and how we think of infrastructure as a system not to look just at the road itself but as a system of transportation how you make the system more resilient. We look at cities and all the efforts around the world with Nature Based Solutions even just with the Washington Nationals park that really built resilience so what this report does is lay out the areas where one needs to reinvest around the world of where people have done this with incredible success. That takes me to my fifth and final point the commission is not just about reports but how you translate that into action. You see the launch in new york one month ago where we had a commission not only launch a report but action. We focused on the area and within the next year to think of the concrete steps taken to build resilience for go so for example with Food Security looking at how to increase or double investment in Agricultural Research and expand access to insurance finance markets to whether these types of shock were doing this with the bank and that Gates Foundation to move this agenda forward were doing this across the board. It is an incredibly exciting moment to talk about this with all of you so now i will turn this back to introduce the next speakers i am delighted to be here. Thank you. Now you brought up sports i remember more than a decade ago Sports Illustrated did a article losing stadiums due to Sea Level Rise. I thought youll also lose the everglades maybe we should pick up on the sports. Real turnover to the director for kleiman reit one Climate Resilience practice working to integrate climate considerations into all planning and programs for go also a branch chief at the Us State Department in the Climate Change office and before that spent eight years with care helping Communities Reduce disaster related risk and a lead author of the Global Commission of the adaptation report. Thank you so much. Good morning everyone. What i want to do is take the overview of the report as codirector of the commission being deeply involved in this report but also with the Us Government part of the federal government to take the key messages that were laid out for what this means in the United States. Often times for those of you who were working in the adaptation space, there is a tendency thinking of adaptation we think about bangladesh of the world. We dont think about of countries like the United States or china or germany. The report tries to make a global call not just about the country needing to adapt to the impact of Climate Change but nations like the United States will also be affected by the impact of Climate Change. So these revolutions talking about the understanding of finance and applying that to the key system of agriculture and City Infrastructure is just as relevant in the United States as bangladesh. So first, why should we care . Talking about the human and economic imperative i want to talk about what this means for the United States and actually talk about the economic imperative as a taxpayer it is critical or federal resources that the title to plan and prosper or delay and pay is key for the United States as well have to change the way we think about the cost ratio. We have been in this for about two decades the trend is we think of adaptation and the images of devastation and what we need to do in terms of cost and what it would take to actually adapt but what we dont make is as visible is the benefits of adaptation spending up front investment to make sure we are resilient in our infrastructure to build back after disaster strikes. But a building that is stronger and more resilient. And to help us avoid at the back and when responding to emergencies with Disaster Relief as well as economic productivity. If we dont do more to adapt the way we operate that expectation ease is we will spend tens of billions of dollars by 2075 on Disaster Relief as a result of rising sea levels. Another example farmers in the midwest will face increasing risk with crop reduction that impacts their lives and livelihood but also our federal budget and terms what the federal government does subsidize premiums those premiums will go up as well is the payout. The economics in the United States are very clear we presented numbers of one dollar investment a preparedness equals four or ten in response. As the economic imperative the second for me which really wasnt covered in the report but just as important to the federal Government Agencies provide Critical Services to people. And those agencies functions and services are impacted by Climate Change and made functional in a changing Climate Program will impact the ability to do its job and in january last year releasing a study how over 3500 military installations face climate risk from drought and flooding in severe wind the dod trading system is impacted and Training Facilities in the west that are impacted by higher temperatures and quite frankly they cannot train anymore in some places because its too hot. The third reason we need to care about adaptation has to do with the human and moral imperative. Climate change will impact everyone in the United States however some communities will be more vulnerable with less capacity. Studies have shown the correlation between urban rates and climate vulnerability shows a pattern the poor the city the higher the vulnerability and lower the preparedness. One of the key messages is we should not accept a world where some can adapt and others cannot one of the task force on state local tribal leaders a few years ago talking about climate preparedness and resilience i was struck by something with the mayor of hoboken said after her Hurricane Sandy we cannot rebuild after sandy in a way that has an island of protection were only certain people in hoboken. So the issue of equity and moral imperative is important in the United States as well. So what is happening . If you look at that report state and local and try that one tribal leaders submitted to the president a few years ago there were numerous examples for go houston has created mobile Solar Powered Community stations to operate off grid and conserve one serve communities that basic needs after a disaster to illinois to colorado infrastructure in the aftermath of disasters in a way that is stronger and better than how those other disasters hit southeast florida has a coordinated planning effort to adapt to Sea Level Rise and then examples like delaware and maryland lowlying states that requires constructions project to meet standards that recognize the changing risks of climate. Lots of bright spots happening in the United States the federal government has any central role to play to support these local efforts by providing leadership and guidance and information and encourage preparedness and supervise adaptation with the revolution to understanding planning and finance if congress can play a role to ensure this happens at the federal level given those Important Service services, there is an opportunity to codify elements of the executive order 13653 revoked 2017 on the grounds it made the us less competitive. There were several key components first calling on federal agencies to modernize programs for state and local communities and then and emphasize the role of federal agencies to provide information and data and decisionmaking tools to state and local level for preparedness and resilience. Third required all agencies to develop and implement comprehensive plans to integrate preparedness into Agency Operations and overall objectives with an emphasis in the executive order to not silo adaptation but built it into the way agencies operate day to day. Also to require all agencies report on that progress with accountability. What do we achieve with this effort . The federal government during this period you can see an increase of general awareness. There was a lot more fact finding and looking at how Climate Change would Impact Agency omissions. That was great it was more rare to see the agencies take on specific actions to go from Risk Assessment to actually take action to address those risks but that said one those bright spots existed what struck me at that time was had so basically what that did as a result was so training kits so in that Community Development. With those block grants after disasters. The Rockefeller Foundation also partnered to launch a 1 billiondollar competition awarding funding for resilience. And then with these that wonder why is Veterans Affairs here what does that have to do with Climate Change . And those are at risk of Sea Level Rise so as a result so to develop new or retrofitting facilities it was a requirement they take the best available Climate Science into account. So looking at the agencies they struggled with three things that is similar to the revolutions. Climate data. What data and how to use it and how you apply that and strategies. To figure out where the data was and how to use that data and on planning. I remember being in meetings people would say tell me how much the sea level will rise then i will take that into account. Then you have scientists that basically say plan with uncertainty you have good Civil Servants trying to figure out with no expertise what to do with that information. And then to do the Risk Capacity to identify solutions. And agencies struggled with that. And others talk to each other there is a lot of collaboration to figure it out. This is something people had to do in their daytoday jobs at no additional funding. With a couple of recommendations. So this is a longterm process and needs to be invested as a longterm process and legislation is key to ensure we dont have these fits and stops. Over the last few years we need to collaborate to have the most usable and actionable data and then to put climate preparedness into daytoday business and then not keep thinking how Climate Change is the Disaster Relief but to take those ways to reduce those cost upfront. Another and those that have an easier time rebuilding in a stronger and more resilient way. Finally the issue of equity. How can we at the federal and state and local level ensure that marginalized in underserved communities do not continue to be the most vulnerable or have the capacity to adapt. Because communities will need to move and what we need to do to support those on the receiving end will need Financial Support as well. And those that translate into the us context. Thank you. You are absolutely right it is very clear awareness at the city and state and tribal level has been increasing and mayors are on the front line to respond to these extreme events if you look at the burgeoning of the resilience offices. But the last speaker directs the Sustainable Finance center at the World Resources institute. And is for energy and environment and working on climate finance in that capacity in international negotiations. And serving on the board of the agreeing climate fund and hes the author of the financing chapter. And with these that contribute i now want to focus on the private sector. So talk about the economy which is a huge amount of the large corporations. And how they prepare and to take Action Companies will be affected by these impacts it is clear they affect the bottom line and Business Operations and facilities with a couple of examples. The food giant is very aware that Climate Change is beginning to affect with those products that what we know and love. Think about bloomberg and then to have their servers in the basement that came within inches add wiping out the entire operation of his company. And airlines that are concerned about the ability of the planes to take off an extremely hot air or shipping lines when port facilities and warehouses and railroads get flooded. Its clear that these large corporations are keenly aware. They call that supply chain risk. In many cases and at the federal level and it is a very powerful tool so we have this Capital Market that is enormously liquid and very importantly they are trusted by investors all over the world thats a makes these markets so powerful. Because they are transparent with the Securities Exchange commission is required to tell us the investors about what could be material to impact the values of securities. As a result thats what investors can use to make decisions. So the question is Climate Change immaterial . Should they. I remember having a conversation in the hallway of the treasury where i said maybe we should start thinking about this reality of climate risk. Then the companies would be reporting it. So they have been dealing with the risk of different types theyve experienced hurricanes and floods and that type of risk and the severity of events and sometimes in that cascade effect. So then to view the Capital Markets some years ago there was a famous speech that said what we should do is get companies to disclose their climate risk and how they take these risks into account and what do they do with the risk . And wide exactly do they have planned . And as that becomes quantified then its known to the consumers and the investors. And then to become visible. And with the lower ability and then they find themselves encouraged by the market. And thats the theory. And with that Major Initiative and with the task force financial disclosures. But this is still very obscure group. And to lead a voluntary group and to put together that was pretty common sense. To advise companies how they should advise this risk and then going out in 2017. And then to actually do this. How do you put that into the reports . And the bottom line is that there was a status report over 1000 companies were studied. About 25 percent that were aligned and only 4 percent are disclosing ten of the 11. Its going to slowly. That we should not cast too much blame. And it is hard to quantify the risks you have to model some things to get the right data to make sure youre getting some things right. And those that have a disadvantage as well. As they go out there with their climate risk but the competitor still does a. And then to be more risky than somebody else. So today i would be secretly prepared for climate risk while denying it in public. And that is the problem with disclosure. And thats whats holding back the budget. What can we do now . So at least three things on the table the Climate Risk Disclosure act by senator warren basically that would require every Public Company to disclose a series of things including those strategies by the Climate Crisis. And then to work for that with the private sector with the Community Investors it is crucial that type of Authority Comes from congress otherwise its left to the financial regulators with a voluntary environment and that guidance. Meanwhile in europe it sounds very boring but very important but there is a list to be aligned with the Paris Agreements to provide a sense of credibility. And with the adaptation. And that is truly sustainable. And that is good for adaptation. And that is universally a pride. And with that reference point. It has been consulted. Then as around 2023 and then to move in a major economy. And finally this is a focus everywhere the city of washington dc but these are focus mostly on the mitigation side we did have some bonds for adaptation and resilience. To find exactly what was allowable high quote resilience or adaptation. And then to turn these into law. And then to realize there are limitations as part of that regime. In my view there is an obvious need toward mandatory disclosure regime thats also what that contains and then to be gradually introduced to make sure the market can work through them they are complicated things but those other initiatives are in that type of environment to be regularly introduced with a set of common standards or metrics if everybody chooses and what they report on those temperature targets and it is crucial this information and to all the companies. This is very centralized action. And and those that dont have the resources and the burden on them is true. And then especially now that the approach is run for five years. And this has happened before and its important that we begin the conversation and then a single standard not to compete with. And that transparency with the market transparency but it will not necessarily help that position. Of any assistance to support to those communities to build that resilience the market will discriminate between those that are riskier or less risky or may move swiftly to punish those that are not taking action. Also that resilience will be very difficult for them to achieve. Thank you for the opportunity. We look forward to continuing the dialogue. Your point is very well taken as International Markets are moving very strictly and quickly with Climate Risk Disclosure. Made me think of Goldman Sachs the only lit building in midtown manhattan that it takes a system. But that infrastructure and the finance so it is your turn to ask questions. I cannot believe we sat through all of that without applauding. [applause] but before we get into q a. To give a special thanks to our friends at the select committee. And then to have two of them today senior Counsel Communications director. And i thank you for being here today. The select committee on the Climate Crisis is developing a set of policy recommendations for congress you taken that will be made public next year and we need your ideas and policy proposals as groups and organizations and as individuals with that information and request is Climate Crisis absorb reuse or capture 80 percent of storm water runoff by 2030 and the fourth is the neighbors to the north in canada with Nature Based Solutions like natural infrastructure to restore salt water marshes to help with coastal flooding. Now we will turn to the audience. It with the coastal flooding risks other than the us that was not served because we could have a and improvement in that data set turns out to be 6 feet with this Machine Learning took that down at 6 inches so now those with annual flooding more than previously understood. The 150 million also known as high tide line and to double at the end of the century. How do we ensure that companies are doing the analysis at climate risk but other data as it becomes available that the risks are way worse than understood today. A couple of thoughts. And that i mentioned in my remarks those big Institutional Investors that hold large chunks of shares in these companies to engage and ask what he is doing. And what baseline scenarios you are considering most probable and what are the redundancies and other safeguards to put in place and it will be crucial because they have to be taken quite seriously to do the risk and even to deal with the super risk. And those that take into account the best data available. And that there is a moral hazard and the perception that the government will come and bail you out. We all know about the Flood Insurance program and that commission adaptation to make sure that companies do not do nothing because that there is damage with that implicit government guarantee to pool the resources into those communities. Of course government has to protect communities but there has to be a division of labor between the public and private sector. It will require demarcating the governments role where it begins and ends and to put some skin in the game. What that we recognize what is taking place globally. And one of the Strategic Investments is the topographic maps. And then to use that for the uptake and that is a huge opportunity. One of the things emphasized so my question is having seen that that the private sector step up more or do they just come quickly. While the panel thinks that perception is pretty widespread and we talked about this last week there are a lot of bills and not just introduce but committees are taking action and finding their way to the senate floor and that infrastructure including natural infrastructure and bipartisan who knows when it will come up and has a lot of potential. And with energy and commerce in particular. So maybe there is an Energy Efficiency bill but when taken together to be enacted the let me see what the panel thinks. One of the most Amazing Things we saw was a coalition of cities and states of the private sector and the Philanthropic Community to say we recognize to confront Climate Change to mitigate and to cope with these problems and that was amazing of the allaround common theme with great strength in those numbers. And the Us Climate Alliance and to work on adaptation that we are working with often times the best solutions to sequester carbon to help on mitigation and adaptation. And also a little bit to build resilience thats likely to go forward in any case. But a wide range but the adaptation is just doing growth or development and how to re fraying the narrative that could also be about what we do every day. I would like to hold on to climate preparedness but frontline communities and those it impact the Climate Change today will continue to take action to prepare one of the commissioners is the mayor of miami hes doing some great things one of the examples the miami forever bond actually voted toward preparedness actually i think there are front runner states and communities to take steps to adapt at the federal level there was a mirror from louisiana who was part of the state and tribal task force talking about she just doesnt have the resources miami or new york has but it doesnt have the resources of capacity and the federal government and the policies are needed to support those communities. I remain hopeful we can do both. And one federal asset Climate Resilience toolkit. Into blood in latitude and longitude in the work your way through thats most vulnerable. And the theme of my response in order to get this done eight eight. Cannot just be local government or state requirement it is a huge amount of coordination as we are not all pulling in the same direction at the same time. Thank you for the amazing set of talks. I have a question of Climate Change risk so with the private sector Different Companies whether Agricultural Company and then are the Institutional Investors working with institutional risk cracks and then with the disclosure act do you think theyll use the same framework or will there be a different framework . That sounds like it was aimed right at you. [laughter] that sounds like it was aimed right at you. [laughter] the tradition risk is the danger of your Business Model to be offended by changes a policy if its based on pumping oil and gas that becomes a unfeasible. And other things that we talk about and then to focus on and transition risk. And how they are willing to do with the shift with the higher price. But because of all of these disasters and they are increasingly concerned about the risk. And to be at the top of the food chain they are the most concern about risk and diverting resources. But the problem is from the companies and that it is forthcoming it with that mandatory disclosure. And now the private sector really gets it and they are concerned about it. The physical and the traditional it with regulatory change and through the supply chains. The framework would have to be different but there are two sets of people. One small addition to that is these companies with complex Global Supply chains so they need to be better appreciated two different parts of the value chain but with that Regulatory Risk has implications that others are taking action. So in that vein it does remind me with that adaptation in the private sector and it is shocking. Because the s p 100 to keep the operations going using those climate models is now only for almost 40 percent in a few years. So with the supply chain so it is really taking off and thats important. The front row was showing up today with questions. [laughter] where it is located where private investment will go. And those to take those transportation bills to keep them from building in the wrong places. Thats a good question but two things stick out to me. One is that it will move. And that means everyone will have a lot of ideas with the Committee Members can do. We heard about plot Grant Programs with Community Development but there are others and in particular the surface transportation and the costsaving transportation which conveniently to protect and those are great ways for the federal government to encourage that adaptation and investment. Im sorry im not familiar with the bill. And to be struck by the last point so to just incentivize that they know will be more risk where the one and 100 flood is now in one in 25. How can we be better how do we change and update zoning and regulations to recognize Building Public transportation infrastructure areas we know are at risk. The planning of the infrastructure is based on the best available data that has a Life Expectancy of 50 years. With no regret practices to incorporate into the infrastructure some flexible features