We cant simply go on growing the way we are growing. So the idea of Sustainable Development is to overcome what will be growing disasters like our super storms air in cities that we choke on in the major cities of asia, pervasive drought. For example, the megadrought in brazil just now. Some of you may have seen the really frightening but impolite unpredictable predictable story in the New York Times that said and sao paulo now where theres a massive drop that was basically unattended by policymakers for year as it was unfolding. There is now a fever epidemic because water storage tanks were put around the city and lo and behold mosquitoes are breeding in them and disease is soaring and sao paulo. This is a general proposition. You push them out of their normal state. Youre not going to get the one thing going wrong. Ebook it many things going wrong. Its predictable that the unpredictable will occur and thats whats happening in sao paulo. And you have drought, forest fires, mega floods, one in a thousand your floods in bosnia, serbia, the baltics region. Last summer, huge storms in japan. Similarly because of the very heavy loading of water in this warming climate. So you get more snowfall or you get more rainfall in the wet places. And the dry places become drier, whether its sao paulo or california now which has a megadrought. One of my colleagues at the Earth Institute published last week a study showing that these mega droughts are likely to intensify in the 21st century india southwest and enemy planes because the climate model say those will be dry zones. And this is where the droughts or today around the world actually this is a map from october. I dont like this, frankly. Youve got the mideast in drought. And in conflict. And those are related as well. A couple of days ago another group of my colleagues published another paper in the proceedings of the National Academy of sciences showing that the syrian conflict which broke out in 2011 was preceded by five years of unprecedented drought and huge displacement of populations. I was with one of the leading humanitarian organizations yesterday in new york and they were saying mrs. Is booming. Theres more refugees, more displaced people more horrendous cases of suffering than ever before, and we were both commiserating, there is no way that our humanitarian system can keep up with this, its impossible. If we dont head off the growing number of crises and get ahead of these environmental disasters, we will find them running out of control. Now, this is the map i promised to show you. This is the summary for 2014 of the climate anomalies. It was warm everywhere in the world except for one little place which was us so other than that, or if you happen to live out, if you happen to be i guess i caught it in the north atlantic you felt warm everywhere except i guess angola namibia and the u. S. Northeast. Is meandering cold war front which is that over the winter cutting to the deep south of the u. S. And it is doing it again this year, whether thats a longterm new normal or whether its just an odd anomaly is obviously too early to say. Now, what of the quantity about all about all of this . I do believe that Sustainable Development is the calling card of our time, because it is the philosophy that says we need a holistic approach that puts economic, social, and environmental objectives in a holistic framework on par. Not just chasing gnp, not just chasing the bottom line of income, but and economic, social and environmental framework that holistic that combines these societal objectives. As an Analytical Framework is the study of complex nonlinear interacting, natural, and human systems. So Sustainable Development is both an analytical approach as well as a moral approach, in my view, both the positive and they normative framework for our time. What is important and i think maybe very lucky for us is that the 193 Member States of the United Nations decided in 2012 that we must put Sustainable Development as the core organizing principle for Global Development for the coming generation. And so at the United Nations is set to number 2527 the world will adopt Sustainable Development goals. Im putting a lot of hope in his because in general the world doesnt agree on very much of anything, but when it does agree on some things, at least they can get noticed. And the fact that the world is going to agree most likely pending the ongoing negotiations of the u. N. On new sustainable goals, i believe this can be a core organizing principle for the coming generation. In fact, as you know well there will be three major summits one after another in 2015. In september adopting the Sustainable Development goals in december agreeing we hope for the First Time Since signing the u. N. Framework convention on Climate Change on an actual way to the that treaty. And thirdly, in advance of those two summits, the financing for Sustainable Development summit in midjuly. So the diplomatic season is packed. Its packed for a lot of reasons that it all came together this year. We wont have another chance like this in a long time where we have the possibility to change course globally. And whats amazing for me is that the concept of how to change course, good concepts are on the table because theres nothing in this distracted world to say that we even hit on the right concepts, but we are actually right there within grasp with a chance to set good goals, to set a new direction on the world Energy System, and to organize a new framework for financing Sustainable Development. Sobieski geez this is the breadandbutter business of the world bank of course so they asked dg the number one is in world policy and hunger within reach. By 2030. The bank led the way for the u. N. Member states in adopting this goal. Of what they say is go for it make a sound serious plan of action in cooperation with other partners, and lets get on with it. And lets not cut corners or fake it because we have a chance actually to do it and to follow the words with action that can make a difference. There will be another goal health for all your we dont have health for all. We have so Little Health system that weve just gone through the people disaster in the three countries of west africa. This is the time to put in place basic Health Systems for all and we are lucky with president jim kim heavy this institutions that we have one of the worlds leaders and Public Health that could help lead that, but its not going to happen by itself and its not going to come from the private sector. It comes from Public Health, not private health. Thats why we call it Public Health. And we should remember that. And we need education for all because one of the sdg will be that all children, girls and boys incomplete and secondary education. And this we know would have Huge Positive feedback effects and ramification for development. Going down the list expanded infrastructure, decarbonization of the Energy System, climate safety, protection of marine and terrestrial ecosystems, reducing inequalities rounds out the essence of the Sustainable Development goals. They are not finalized yet but that idea to economic social and environmental pillars is absolutely set. We know every time you have a goal, you need a roadmap. And i think this is extremely important. The basic concept for goldbased development is fantastic back casting. Datacasting means such a target enter date and then work back from the future date and target to the present to say what are the things that need to be done between now and then, or then and now in order to get this done . This is not forecasting. This is not casting, saying how to make the bridge to where we want to be in 2030 . I really would like to see the bank do this on significant scale across all its objectives. How do you reach the target . Its not good enough to dream. Its got to be planned. Its got to be thought through. This is mainly about complex investing, because its complex in the that the investments are in human capital, natural capital, business capital, infrastructure capital, social capital. So its a complex investment problem, but we know how to get to the targets if we care to. This is just an example of how does one decarbonize. If you look at the series plans for handling the Energy Climate crisis, you basically have to move from a carbonbased economy to a zero Carbon Economy by around 2070. Thats a mega transformation for a world that for the last 200 years has grown up on fossil fuel. But we have the technological next to do it or are within reach, but it requires a strategy. And this graphic which i wont go into detail, says the strategy ever is based on three big pillars, energy efficiency, zero or low carbon electricity, and essentially electrification of the coast. The good news is we will all be driving test was soon, or the equivalent. They are a lot of fun, they are much better cars and they dont emit Greenhouse Gases out of the tailpipe. And to this is the kind of change that we are going to need in the future. We are going to need publicprivate partnerships to develop and diffuse the technologies for the era of sustainable develop whether its in Energy Systems agriculture systems, smart cities or ict enabled health, education and government. I think our governance institutions also need radical overhauls. Im looking forward to the day when we all draft legislation together and we all vote on it and we can bypass whats going down, up and down the block in congress where they dont represent us and we dont need them to represent us anymore. Against unlike 1789 we dont have to take our horse and carriage to washington. We can actually decide as citizens. Its an example but i think its an important idea that we can use our new Information Technologies to overhaul what we are doing to make systems that can work in the 21st century. Financing for development is core for this institution as the worlds financial leader for development. What do we need for success in the sdgs . I think we need new global fund for health, education smallholder agriculture. We need increased official Development Assistance especially new donors like china and others because they all the donors are tired. They have cut their taxes on the rich and then they say we dont have any money. We did actually to go after the 1800 billionaires by helping to solve world problems. The forbes list this weeks this week showed the 1800 billionaires have a combined network of 7 trillion the 1800. If you put that into a Columbia University endowment or a world bank endowment, that would have a payout of 350 billion a year from those 1800 individuals. Im going to be going doortodoor soon and id like anyone else who wants to join me door to door to join me on that adventure. Because i really do believe that there is an opportunity for those individuals who have been, for whatever reasons, blessed by great good fortune to give back now because theres no way in the world that a physical find that individual can use of that money, can use any more than the tiniest fraction of that money. And we need to make a private Financial System work better. Why was the private Financial System financing drilling in the arctic, for example, for oil . What lesser cause good to be in the whole world and finding new highcost arctic hydrocarbons . We already have more than all the hydrocarbons we can safely use. We have to strand a lot of those. Why are we putting new money drilling in the arctic, for heavens sake . Why are we even debating a project as ridiculous as the Keystone Pipeline . We cant use safely the oil sands. So why are we debating that . Because we dont have a plan and because the vested interests are very powerful. Thats the only reason. So when you a Financial System that directs money to the right causes. If he still goes forward ideal to help but i also believe that whoever interest in it will go bankrupt later on, because we cant use that stuff safely. So lets say it measure it and understand why its not a good investment, aside from the fact that it is not a wise public policy. What are we thinking of . Politicians dont want to do carbon arithmetic. They dont even want to do arithmetic, and that is really a serious problem. And were going to need a significant boost of the sustainable infrastructure around the world. You can have no doubt this institution will play a core leading role in helping to mobilize private funds alongside public funds, what is Development Banking after all, in order to fund the trillions of dollars of new sustainable infrastructure. Want to talk about all of the specifics, what to do. This life actually is from a wonderful article from Nature Magazine last month which estimated where we should be stranding the oil gas and coal because its to highcost, its to carbon intensive to safely use. And what it shows, for example is that 74 of canadas oils thats mainly the oil sands, are unusable safely in a two degrees celsius limit world. In other words, if they keep climate safety you cant use the stuff, and thats the basics we got to be making very clear to ourselves. Africa, still the epicenter of extreme poverty, has wonderful possibilities for moving forward. Just to mention perhaps the best Solar Energy Potential in the entire world. Its a region that is the most impoverished, the bottom of the development, but its got a wonderful solo resources, and im looking forward to the revenge of the desert when places that have been impoverished up until now suddenly have the highest Quality Energy source of the whole world, not just for themselves, and we should help build that out for them for ending poverty and or provide a clean, low Carbon Energy system. In general, just like we need targets for health and education, i really do want the world bank to help put on the map, whats the goal for sustainable infrastructure for the year 2030. This is an exercise for africa for energy and transport. Lets have goals. Beenthen lets think about how to finance those projects with a blend of public and private financing. So just to conclude come in this new age of Sustainable Development, what are the critical roles of late institutions like the world bank and others, the Major InternationalFinancial Institutions . First, countries had Poverty Reduction strategy papers. They were very helpful for directing attention to the needs of the poor and for Poverty Reduction. I do believe that as part of the new Sustainable Development goals, the u. N. Member states will encourage countries to have Sustainable Development plans. Im really looking forward to the United States having one because its urgent here to address inequality and to address our increasingly dangerous Environmental Crisis. So that will be one part of the work ahead, support countries in implementing their Sustainable Development plans. Second, of course, is Leverage Private sector financing for sustainable infrastructure and Climate Change mitigation and adaptation, one of the great challenges of the coming generation. And a third is to support and partner with new global funds for health, education ecosystems smallholder agriculture so that we can make a high quality targeted scaled investments to achieve the Sustainable Development goals. Ladies and gentlemen, thank you very much. [applause] i said we would leave room for about 30 minutes of questions. But, of course, it we is all of the time for questions you will be able to cite any books and some people may want their books signed, so lets new ones that a little. There are quite a lot of people watching online and ive received some questions. Ill take one of those. In the meantime if you have questions can get lined up in front of the tube mics there so that people in line will be able to hear. So jeff, let me start with some quick questions here. Lets start with this one. Do you think Nuclear Power should still be pursued as a way to develop the earth sustainably . We are in the u. N. Sustainable Development Solutions network calling on each country to make a deep decarbonization pathway and what we mean by that is to look forward 40 years essentially to say how can our economy given our Resource Base reach very low levels of co2 emissions. Roughly one tons per capita, or between one and one that have tons per capita, for example, by the year 2050. Each c