WEBVTT - Government Net-Zero Strategy Playbook

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<v Speaker 1>Hey, everyone, So think back your first semester of college.

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<v Speaker 1>You walk into the room for economics one oh one

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<v Speaker 1>or microbiology or art history, whatever it is. You take

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<v Speaker 1>your seat, the professor walks in, and the teaching assistant

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<v Speaker 1>passes out the syllabus. It outlines the material covered and

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<v Speaker 1>the exam dates. Great, you know what to do. You're

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<v Speaker 1>a good student, you'll be fine. But you quickly realize

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<v Speaker 1>this isn't high school, and your parents are two thousand

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<v Speaker 1>miles away. You end up studying a lot, but it's

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<v Speaker 1>all kind of trial and error, and you crammed night

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<v Speaker 1>before the exam. Anyway, what you need is a study

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<v Speaker 1>guide to help you know what and how to study,

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<v Speaker 1>what works, what's not worth spending time on. And you

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<v Speaker 1>need to study group to share notes. Well, forgive the analogy,

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<v Speaker 1>but it's kind of the same thing. For climate change.

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<v Speaker 1>We know the exam is coming up, and unlike any

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<v Speaker 1>of my college exams I thought were just so important,

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<v Speaker 1>this one actually is. To be specific, without real action,

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<v Speaker 1>the world is likely to hit one point five degrees

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<v Speaker 1>celsius about pre industrial levels between and so sooner than

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<v Speaker 1>I expected. That means this decade is critical to get

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<v Speaker 1>things going okay. So countries and companies have begun to

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<v Speaker 1>level up their decarbonization ambitions, many aiming to go net

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<v Speaker 1>zero by but for the most part of not laid

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<v Speaker 1>out clear pathways to getting there. They're putting themselves in

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<v Speaker 1>the position of having to cram the night or decade

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<v Speaker 1>before the exam and at that point it's too late.

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<v Speaker 1>As I said, this decade is critical to get things going,

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<v Speaker 1>but they need a study guide so they can implement

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<v Speaker 1>the clear strategy and aced the exam. Well, Bloomberg has

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<v Speaker 1>that study guide. Today. We've got BEENEF head of Energy

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<v Speaker 1>Transitions Louisa tomorrow to talk about the net zero Pathfinders initiative,

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<v Speaker 1>just launched on the eighteenth of October. The idea is

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<v Speaker 1>to provide a resource of actionable policy ideas and case

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<v Speaker 1>studies of what's worked around the world to help policymakers

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<v Speaker 1>and other stakeholders design and implement decarbonization strategies today. So

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<v Speaker 1>a study guide to help jurisdictions plan their climate strategies

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<v Speaker 1>and figure out their study groups. And Louisa will mention

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<v Speaker 1>this again in the interview, but go check it out

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<v Speaker 1>at Bloomberg dot com. Forward slash net zero Pathfinders or

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<v Speaker 1>sending examples of what's worked for you and your stakeholders

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<v Speaker 1>at pathfinders at Bloomberg dot net as a reminder being

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<v Speaker 1>if does not provide investment or strategy advice, and you

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<v Speaker 1>can hear the full disclaimer at the end of the show.

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<v Speaker 1>I'm Mark Taylor and you're listening to switch on to

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<v Speaker 1>be net podcast. Louisa, thanks for joining, Thank you for

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<v Speaker 1>having me here, Mark, and welcome to London. You just

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<v Speaker 1>moved over from from Apollo, Is that right, Yes, that's right,

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<v Speaker 1>moved exactly a month ago, sweet right on, just in

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<v Speaker 1>time for it to get dark here all the time.

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<v Speaker 1>I'm sorry we're pulling you away from the summer over there,

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<v Speaker 1>but we're really glad to have you, and we're really

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<v Speaker 1>glad to have you on the show today to talk

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<v Speaker 1>about what countries and companies by extension can do to

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<v Speaker 1>reach net zero targets. Now, let's start off just by

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<v Speaker 1>digging into that a bit. We're going to start this

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<v Speaker 1>show with the assumption that climate change is a thing,

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<v Speaker 1>that it's real, that it has dire consequences if we

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<v Speaker 1>don't get it solved. All that, and one way to

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<v Speaker 1>do that is by setting what are called net zero targets? Now,

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<v Speaker 1>can you just start us off by explaining what a

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<v Speaker 1>net zero target is. I'm not your target is simply

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<v Speaker 1>aiming or pablishing the goal data, country or a company,

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<v Speaker 1>we will produce less greenhouse gas emissions. Then it takes

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<v Speaker 1>from the atmosphere, so not to start getting to zero,

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<v Speaker 1>but getting to zero net emissions, which is, by the way,

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<v Speaker 1>it really hard considering how we produce everything today. And

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<v Speaker 1>when I say we, am referring to us as a

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<v Speaker 1>society as a participants of the economy. Yes, there you go,

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<v Speaker 1>and everybody, just so you know, I called called that out.

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<v Speaker 1>I asked Lisa to clarify that because I'm just really

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<v Speaker 1>conscious that been for Bloomberg. We're analysts, not advocates, and

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<v Speaker 1>we're going to say we a lot in this in

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<v Speaker 1>this episode here today, and it's just going to refer

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<v Speaker 1>to all of us collectively as the human race or humans.

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<v Speaker 1>The reason why I say ways, because we, or the

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<v Speaker 1>word we, will not get to zero if every single

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<v Speaker 1>person and company and sector and government player isn't involved

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<v Speaker 1>in this race. So, now that we know what net

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<v Speaker 1>zero is and what it's designed to do, can you

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<v Speaker 1>describe for us. The commitments that countries have made around

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<v Speaker 1>that six years ago, in two thousands fift change pair

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<v Speaker 1>is the government's most governments around the world have agreed

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<v Speaker 1>to keep the increase in global warming below two degrees

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<v Speaker 1>and to make efforts to limit it to one point

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<v Speaker 1>five degrees. Why is that important? To degrees in one point?

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<v Speaker 1>This is what i PCC or the inter Governmental Panel

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<v Speaker 1>on Climate Change estimate. This is the maximum that we

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<v Speaker 1>can increase global warming to limit catastrophic climate change effects.

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<v Speaker 1>So that's why it's important. And I think the basic

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<v Speaker 1>thing that's important to understanding is we're not talking about

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<v Speaker 1>reducing the global warming. We're talking about limiting the increase

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<v Speaker 1>of global warming. So government's got together six years ago

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<v Speaker 1>and they had agreed to make efforts to limit this

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<v Speaker 1>global warming, and they do this by committing to take

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<v Speaker 1>action and committed to limit the two emissions. However, since then,

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<v Speaker 1>we have not really gotten any better. To be more specific,

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<v Speaker 1>the i p c C estimates that emissions need to

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<v Speaker 1>fall about forty five belows two thousand ten levels by

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<v Speaker 1>two thousand thirty to reach net zero on to town fifty.

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<v Speaker 1>So twenty years later, however, we have actually increase emissions

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<v Speaker 1>by around one five per year between ninety nine and

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<v Speaker 1>two thousand nineteen. The good news is that over the

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<v Speaker 1>past years, especially over the one year and a half,

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<v Speaker 1>governments have started to take more action towards establishing NAT

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<v Speaker 1>zero commitments, and today about seventy countries that represented around

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<v Speaker 1>forty nine percent of global emissions have established and that's

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<v Speaker 1>your target. The challenges they don't actually know how to

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<v Speaker 1>get there. Okay, that seems to be the kicker there.

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<v Speaker 1>So if we can back up or recap, all these

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<v Speaker 1>countries got together and said, hey, we want to reduce

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<v Speaker 1>submissions to reach a certain target. And then you're saying,

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<v Speaker 1>kind of nothing, nothing has happened. There's some stuff for

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<v Speaker 1>some efforts have been made. I guess we can get

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<v Speaker 1>to that. But more recently they're saying, okay, actually we

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<v Speaker 1>want to make a net zero target, but we don't

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<v Speaker 1>know how to quite get there. Is that right Most

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<v Speaker 1>are not saying we don't know how to get there,

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<v Speaker 1>but through this they don't. It's a very hard job.

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<v Speaker 1>There's a few reasons why it's very hard. Firstance, we

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<v Speaker 1>need to start acting right now because a lot of

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<v Speaker 1>governments and the takeholders in general are talking a lot

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<v Speaker 1>about thousand fifty THOUSTA doesn't sixty. But we need to

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<v Speaker 1>act now, and we need both action if we really

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<v Speaker 1>want to change this emissions run. So if you leave

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<v Speaker 1>it till to get started, you're never going to meet

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<v Speaker 1>a target. Then we're done. Another reason why it's very

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<v Speaker 1>hard is because it touches on every aspect, every sector

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<v Speaker 1>of the economy. It touches on everyone's lives, which means

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<v Speaker 1>that collaboration is key there. And to be honest, policymakers

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<v Speaker 1>and many of the key stakeholders are not really good

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<v Speaker 1>at collaborating. Right. Everybody's playing their own game. But it

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<v Speaker 1>has to change if we're serious about getting there. When

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<v Speaker 1>you and I were talking about this before the show,

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<v Speaker 1>you mentioned what countries have been trying has mostly been

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<v Speaker 1>kind of trial and error up to this point. So

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<v Speaker 1>they made their commitments, they made their net zero targets,

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<v Speaker 1>they're trying to collaborate, it seems, but the things that

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<v Speaker 1>they're actually doing our guests in check or trial and errors.

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<v Speaker 1>That right, nobody has a real clear strategy as far

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<v Speaker 1>as I can tell. We're all figuring that out together

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<v Speaker 1>right now. Right, And when I say collaborations key is

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<v Speaker 1>not just about one country collaborating with another, which is

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<v Speaker 1>important because the word has to learn from the other's

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<v Speaker 1>mistakes about what works and what doesn't work. Otherwise we're

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<v Speaker 1>going to take way longer together and we don't have

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<v Speaker 1>this time we as the word as a society. Also,

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<v Speaker 1>it also means collaborating across all policy layers in one country,

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<v Speaker 1>which means city level policymakers collaborating with national level policy makers,

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<v Speaker 1>which is sometimes it's very hard. And it also means

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<v Speaker 1>the stakeholders, finance sector, civil society collaborating with government and

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<v Speaker 1>collaborating among themselves. So collaborations really a fundamental aspect to

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<v Speaker 1>get there. But we also understand that there there are

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<v Speaker 1>challenges with this collaboration. Can you tell us a bit

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<v Speaker 1>more about those challenges? First, the challenges when we're talking

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<v Speaker 1>about a transition to a new economy, we're talking about

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<v Speaker 1>something that we will touch on every single aspect of

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<v Speaker 1>the economy, and that we'll touch on every by these lives,

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<v Speaker 1>every industry, which means that it's not a job that

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<v Speaker 1>can be done in isolation. In practice, we will need

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<v Speaker 1>to see policy makers interacting with each other. We need

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<v Speaker 1>to see city level policymakers working together with national level,

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<v Speaker 1>international level to make things happen. And we will also

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<v Speaker 1>need to see the finance sector to civil society engaging

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<v Speaker 1>with governments and other players. And to be honest, most

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<v Speaker 1>of those takeholders are not very good at collaborating. And

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<v Speaker 1>the second challenge is that this is not something that

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<v Speaker 1>we can plan a lot or only plan, because we

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<v Speaker 1>need to start acting right now. So this engagement has

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<v Speaker 1>to happen right now because policy makers and other players

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<v Speaker 1>are talking a lot about action for two fifty but

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<v Speaker 1>we don't have this time to wait, so we need

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<v Speaker 1>to get started really soon. Okay, so how do we

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<v Speaker 1>get there? How do we get started? This week we

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<v Speaker 1>have launched a new Bloomberg initiative that aims to help

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<v Speaker 1>policemakers and all your stakeholder solve those these questions. The

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<v Speaker 1>name of the initiative is Nazio Pathfinders. This is a new,

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<v Speaker 1>completely public initiative that aims to help policemakers and under

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<v Speaker 1>stakeholders design and implement the carganization strategies today, not in

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<v Speaker 1>ten years, but today. And we also aim to help

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<v Speaker 1>those players simplify their search for a climate solution, and

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<v Speaker 1>we do this by leveraging content capabilities of many Bloomberg

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<v Speaker 1>organizations and also many of our partners. That's cool. How

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<v Speaker 1>does it work? Walking through it a little bit? So,

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<v Speaker 1>if I'm a policymaker and I want to make use

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<v Speaker 1>of the new net zero Path Finders initiative, what do

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<v Speaker 1>I do? Is it like a reference library of like

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<v Speaker 1>projects that have worked, or is it a consulting service.

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<v Speaker 1>We have just launched a public website where we highlight

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<v Speaker 1>the key challenges and the key solutions in the Race

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<v Speaker 1>to zero, and we also have a interactive library where

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<v Speaker 1>policy makers and other stakeholders can future by sector, policy

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<v Speaker 1>layer and key peelers which I would touch on in

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<v Speaker 1>a minute of Nazio strategies and find examples of what

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<v Speaker 1>is working for others, what other policymakers have implemented that

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<v Speaker 1>has actually proven to have effect and impact in the

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<v Speaker 1>carbonizing some sectors of their economy, or on leveraging financing

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<v Speaker 1>for example, or engaging the view society to get to

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<v Speaker 1>some successful the carbonization measure. That's cool. So it's like

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<v Speaker 1>a menu of things I can choose from that have

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<v Speaker 1>proven to be successful in other jurisdictions. If I'm a

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<v Speaker 1>policymaker exactly. And the way we do that is we

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<v Speaker 1>have organize those best practices around four key pillers. Yeah,

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<v Speaker 1>let's get into those. So in the Pathfinders initiative, I

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<v Speaker 1>guess what I'm getting at is that that maybe this

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<v Speaker 1>could be a start to the end of trial and error.

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<v Speaker 1>That there are I think you've got identified, as you said,

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<v Speaker 1>four key pillars of things that work. Can you describe

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<v Speaker 1>those four key pillars? And before I do, we consider

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<v Speaker 1>those four key pillars from Memento because they are relevant

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<v Speaker 1>to all keys takeholders of the economy and all we

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<v Speaker 1>meeting sectors. The first pillar is accelerating deployment of mature

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<v Speaker 1>climate solutions. The second pillar is supporting the development of

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<v Speaker 1>new climate solutions, third pillar is managing the transition and

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<v Speaker 1>phasing out carbon intensive activities, and the last one is

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<v Speaker 1>creating appropriate climate transition government structures. So those are what

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<v Speaker 1>we believe to be the fundamental aspects of any net

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<v Speaker 1>zero strategy that a policymaker or even other privates that

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<v Speaker 1>holder can put together when thinking about their race to zero.

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<v Speaker 1>We're gonna take a quick break when we come back,

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<v Speaker 1>We're going to make our way through each of these

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<v Speaker 1>pillars and describe how they can be used to achieve

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<v Speaker 1>net zero targets. Stay with us, okay, welcome back. Let's

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<v Speaker 1>just start going through them. So number one, accelerating deployment

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<v Speaker 1>of mature climate solutions. When I hear that, I think

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<v Speaker 1>that just means helping build wind, solar, and batteries. Is

0:13:24.240 --> 0:13:27.319
<v Speaker 1>that right? It is right, It's not limited to it.

0:13:27.679 --> 0:13:30.600
<v Speaker 1>But this isn't a big part of this. In this piller,

0:13:30.679 --> 0:13:35.640
<v Speaker 1>we're talking about deploying right now the solutions that are

0:13:36.440 --> 0:13:40.320
<v Speaker 1>low cost and widely available. It includes, for example, Winen

0:13:40.360 --> 0:13:44.840
<v Speaker 1>solar technologies, but it also includes storage technologies, deploying evs

0:13:45.040 --> 0:13:50.200
<v Speaker 1>and evy chargingfrastructure, but also solutions simple solutions such as

0:13:50.320 --> 0:13:56.640
<v Speaker 1>boost walking and public transportation micromobility in general, also encouraging

0:13:56.800 --> 0:14:00.559
<v Speaker 1>sustainable food consumption, which is a key part of ancient zero.

0:14:00.800 --> 0:14:02.520
<v Speaker 1>To give you an example of like why we need

0:14:02.559 --> 0:14:07.439
<v Speaker 1>to act really fast under the ban off new energy

0:14:07.520 --> 0:14:13.120
<v Speaker 1>outlook under the last reports green scenario we be enough

0:14:13.160 --> 0:14:15.839
<v Speaker 1>to say is that getting to the your emissions requires

0:14:15.960 --> 0:14:20.840
<v Speaker 1>one point for tear warts of renewables added every year

0:14:21.160 --> 0:14:24.200
<v Speaker 1>over the next three decades, and at the moment we

0:14:24.440 --> 0:14:29.240
<v Speaker 1>have less than one point seven gig wats everybody for scale,

0:14:29.600 --> 0:14:32.560
<v Speaker 1>that's just a whole ton of renewables that we are

0:14:32.680 --> 0:14:35.200
<v Speaker 1>not adding that we in the world that needs to

0:14:35.240 --> 0:14:36.720
<v Speaker 1>be added to meet these targets. So there's just a

0:14:36.800 --> 0:14:38.760
<v Speaker 1>lot of that needs to be done there. And to

0:14:38.920 --> 0:14:42.120
<v Speaker 1>highlight how important it is to acts fast and deploy

0:14:42.200 --> 0:14:45.360
<v Speaker 1>fast solutions that are widely available right now, be enough

0:14:45.560 --> 0:14:48.960
<v Speaker 1>estimates under news green scenario, the new Energy Outlook Ring

0:14:49.040 --> 0:14:53.360
<v Speaker 1>scenario that to get to zero, we actually need over

0:14:53.360 --> 0:14:57.080
<v Speaker 1>the next three decades to deploy per year more renewable

0:14:57.160 --> 0:15:01.640
<v Speaker 1>energy technologies that we have installed at the moment in

0:15:01.720 --> 0:15:05.240
<v Speaker 1>the world. I mean, I just read yesterday about what

0:15:05.320 --> 0:15:07.760
<v Speaker 1>if they're doing trying to do a solar plant in China.

0:15:08.360 --> 0:15:10.520
<v Speaker 1>Now that's a hundred giga watts or something like that.

0:15:10.960 --> 0:15:13.040
<v Speaker 1>It's gigantic. But what you're saying is that, you know,

0:15:13.200 --> 0:15:15.040
<v Speaker 1>things like this need to become more than norm than

0:15:15.080 --> 0:15:17.400
<v Speaker 1>the exception. Number two, what do we got? Number two

0:15:17.480 --> 0:15:20.440
<v Speaker 1>is about supporting the development of new climate solutions. And

0:15:20.640 --> 0:15:24.560
<v Speaker 1>here we're talking about developing that technologies that are not

0:15:24.760 --> 0:15:28.400
<v Speaker 1>widely available or low cost right now, but that will

0:15:28.440 --> 0:15:31.360
<v Speaker 1>be key in the second phase after racial zero, and

0:15:31.400 --> 0:15:34.880
<v Speaker 1>I'm talking here about post a thousand, like what you

0:15:34.960 --> 0:15:39.360
<v Speaker 1>were talking about low carbon hydrogen, we're talking about carbon capturing, storage,

0:15:39.760 --> 0:15:43.240
<v Speaker 1>about direct air capture, I guess as well also, but

0:15:43.400 --> 0:15:49.880
<v Speaker 1>also like deploying, developing electrification of planes, of shapes, of

0:15:50.040 --> 0:15:52.800
<v Speaker 1>other transports. And it's important to mention that if we

0:15:52.880 --> 0:15:55.400
<v Speaker 1>really want to get to zero, we need to tackle

0:15:55.600 --> 0:15:58.200
<v Speaker 1>every sector of the economy, not only the easy ones.

0:15:58.680 --> 0:16:01.600
<v Speaker 1>So we need to start develop the technologies to abate

0:16:01.880 --> 0:16:05.080
<v Speaker 1>the heart sectors right now, otherwise those won't be ready

0:16:05.120 --> 0:16:07.160
<v Speaker 1>in ten years. So these are kind of like where

0:16:07.320 --> 0:16:10.760
<v Speaker 1>wind and solar and others were, you know, ten plus

0:16:10.880 --> 0:16:14.160
<v Speaker 1>years ago, right, so they're expensive and YadA YadA, but

0:16:14.280 --> 0:16:17.200
<v Speaker 1>now they're they're cheap and where they available, as you said,

0:16:18.280 --> 0:16:20.560
<v Speaker 1>So just starting down that that cost curve for those

0:16:20.600 --> 0:16:24.280
<v Speaker 1>other technologies basically, and it needs time, right, so we

0:16:24.360 --> 0:16:27.200
<v Speaker 1>cannot wait to get this done. Number three. Number three

0:16:27.280 --> 0:16:32.119
<v Speaker 1>is about managing the transition and phasing out carbon intensive activities,

0:16:32.400 --> 0:16:35.560
<v Speaker 1>and it's about really about your things. First is it's

0:16:36.040 --> 0:16:40.600
<v Speaker 1>the transition won't be just about adding NW clean technologies.

0:16:40.680 --> 0:16:43.560
<v Speaker 1>We also need to retire and phase out the high

0:16:43.600 --> 0:16:49.600
<v Speaker 1>emitting technologies that are in our operating today. This includes

0:16:49.760 --> 0:16:54.680
<v Speaker 1>coal plants, internal combution engine vehicles for example, and even

0:16:54.760 --> 0:16:57.840
<v Speaker 1>high emitting heating sources. So we need to get rid

0:16:57.880 --> 0:17:01.000
<v Speaker 1>of those as fast as we can, and especially start

0:17:01.120 --> 0:17:05.159
<v Speaker 1>financing new ones. But also it's about the fact that

0:17:05.760 --> 0:17:11.119
<v Speaker 1>retiring or phasing out those technologies also means that a

0:17:11.200 --> 0:17:13.080
<v Speaker 1>lot of people will be impacked. So we need to

0:17:13.160 --> 0:17:15.639
<v Speaker 1>make sure that the transition is fast, but also the

0:17:15.680 --> 0:17:19.200
<v Speaker 1>transition is just and fair to those business and to

0:17:19.359 --> 0:17:22.639
<v Speaker 1>those workers that have for a long time relied on

0:17:22.800 --> 0:17:27.880
<v Speaker 1>those technologies. Absolutely. I saw on TV last night during

0:17:27.920 --> 0:17:31.840
<v Speaker 1>the Great British bayoff an advert for the what is it,

0:17:31.920 --> 0:17:34.760
<v Speaker 1>the new ultra low emission zone for London, any anything

0:17:34.880 --> 0:17:37.320
<v Speaker 1>inside the M twenty. And that's a change that's going

0:17:37.400 --> 0:17:40.280
<v Speaker 1>to affect a lot of people. And so I think

0:17:40.280 --> 0:17:43.040
<v Speaker 1>that's what you're saying. So it's managing this transition. I

0:17:43.080 --> 0:17:45.560
<v Speaker 1>remember last year hearing about it, and then they've just

0:17:45.680 --> 0:17:48.159
<v Speaker 1>been saying this is coming, and then now they're saying, hey,

0:17:48.200 --> 0:17:51.240
<v Speaker 1>this is coming next week. Managing the transition. Glad I

0:17:51.280 --> 0:17:55.200
<v Speaker 1>don't drive here, Yeah, hey, there you go, But a

0:17:55.280 --> 0:17:57.480
<v Speaker 1>lot of people do, right, and it will affect tons

0:17:57.560 --> 0:17:59.920
<v Speaker 1>and tons of people, So yeah, this is super super important.

0:18:00.040 --> 0:18:04.240
<v Speaker 1>And honestly, transition is not always comfortable, no jeez, it's

0:18:04.440 --> 0:18:06.720
<v Speaker 1>it's for sure more comfortable than the impact of not

0:18:06.840 --> 0:18:13.080
<v Speaker 1>doing it. Finally, number four, creating appropriate climate transition governance structures.

0:18:13.160 --> 0:18:15.879
<v Speaker 1>Now this sounds like when I read this earlier, I

0:18:16.000 --> 0:18:18.440
<v Speaker 1>was like, oh, that sounds boring, but then you think

0:18:18.440 --> 0:18:21.960
<v Speaker 1>about it, like it's probably the most important one exactly.

0:18:22.119 --> 0:18:24.800
<v Speaker 1>That's what I said, Like, those people don't engage much,

0:18:25.040 --> 0:18:28.440
<v Speaker 1>and that's really key, and that's really key for many things. First,

0:18:28.520 --> 0:18:34.840
<v Speaker 1>like governments change in like really short period, so those

0:18:34.880 --> 0:18:38.440
<v Speaker 1>players need to make sure that the climate plans and

0:18:38.560 --> 0:18:42.680
<v Speaker 1>climate projects will remain despite of who is leading a

0:18:42.760 --> 0:18:45.000
<v Speaker 1>country or a city. This is part of it, but

0:18:45.119 --> 0:18:49.240
<v Speaker 1>also part of it is creating mechanisms to make sure

0:18:49.320 --> 0:18:52.680
<v Speaker 1>that different players and gay across the government and across

0:18:53.000 --> 0:18:58.800
<v Speaker 1>different stakeholder groups, and also creating mechanisms dream courage and

0:18:58.920 --> 0:19:03.560
<v Speaker 1>to enforce commitments from others such as from corporation. And finally,

0:19:04.000 --> 0:19:05.879
<v Speaker 1>there is a big role for the finance actor to

0:19:05.960 --> 0:19:08.560
<v Speaker 1>play there as well, and also for the civil society

0:19:08.880 --> 0:19:11.399
<v Speaker 1>in the finance sector, for example, it's really key to

0:19:11.680 --> 0:19:17.159
<v Speaker 1>encourage climate related financial disclosures such as GCFT and for

0:19:17.400 --> 0:19:20.560
<v Speaker 1>civil society doors organization have a really big role to

0:19:20.640 --> 0:19:24.240
<v Speaker 1>play in driving social development and equality across the value chain.

0:19:24.440 --> 0:19:28.320
<v Speaker 1>And this is very important because a very fast transition

0:19:28.800 --> 0:19:34.040
<v Speaker 1>can have a good impact in many countries, especially countries

0:19:34.160 --> 0:19:36.840
<v Speaker 1>that export, for example, of raw materials. But this impact

0:19:36.960 --> 0:19:39.359
<v Speaker 1>might be good or it might be bad, and it

0:19:39.480 --> 0:19:43.080
<v Speaker 1>really depends on how much attention we pay on it.

0:19:43.520 --> 0:19:47.000
<v Speaker 1>So we've gone throughout the four pillars of the Pathfinder project,

0:19:47.160 --> 0:19:49.639
<v Speaker 1>and if I'm a policymaker, I will be able to

0:19:49.720 --> 0:19:52.760
<v Speaker 1>find examples of cases where these things have worked for

0:19:52.800 --> 0:19:55.680
<v Speaker 1>other dissections. But we're can I find out more? What

0:19:55.840 --> 0:19:58.879
<v Speaker 1>can I do to get started engaging with the net

0:19:58.960 --> 0:20:03.960
<v Speaker 1>zero platform organization? First, the natural Pathfinders platform is publicly

0:20:04.000 --> 0:20:08.920
<v Speaker 1>available at Bloomberg dot com slash Nazero. Pathfinders website includes

0:20:09.080 --> 0:20:12.760
<v Speaker 1>description of all those solutions, the best practice library, as

0:20:12.800 --> 0:20:15.919
<v Speaker 1>well as a brand new report that we have launched

0:20:16.240 --> 0:20:20.359
<v Speaker 1>detailing those pillars and discussing what others have done that

0:20:20.560 --> 0:20:23.800
<v Speaker 1>has proven to work. And the very important thing to

0:20:23.880 --> 0:20:27.639
<v Speaker 1>mention before we're done here is we recognize that there

0:20:27.720 --> 0:20:30.840
<v Speaker 1>is no single path through Zero. We're not trying to

0:20:31.000 --> 0:20:34.000
<v Speaker 1>give a final answer of what works and or what

0:20:34.840 --> 0:20:38.119
<v Speaker 1>doesn't work. And as I mentioned, engagement is key. So

0:20:38.280 --> 0:20:42.480
<v Speaker 1>this is supposed to be an evolving initiative that welcomes

0:20:42.560 --> 0:20:46.440
<v Speaker 1>contributions from other players. So if you're a policemaker or

0:20:46.480 --> 0:20:50.560
<v Speaker 1>stakeholder that has implemented something that works, reach out to

0:20:50.720 --> 0:20:55.080
<v Speaker 1>us and going to be really happy to receive your contribution,

0:20:55.440 --> 0:20:58.280
<v Speaker 1>to publish it on our website and to discuss how

0:20:58.320 --> 0:21:00.879
<v Speaker 1>we can continue engaging with you as well, and you

0:21:00.960 --> 0:21:05.280
<v Speaker 1>can contact us at Pathfinders at Bloomberg dot net. I mean,

0:21:05.320 --> 0:21:07.119
<v Speaker 1>congrats on the release of the website or launch of

0:21:07.160 --> 0:21:10.160
<v Speaker 1>the website. And again, everybody that's pathfinders at Bloomberg dot net,

0:21:11.080 --> 0:21:14.040
<v Speaker 1>is there any next step that you're looking forward to

0:21:14.400 --> 0:21:17.080
<v Speaker 1>with regard to the Pathfinders initiative. The next step is

0:21:17.119 --> 0:21:20.680
<v Speaker 1>really an engagement. So we have launched the website, we

0:21:20.800 --> 0:21:23.520
<v Speaker 1>have made the report publicly available, and now what we're

0:21:23.600 --> 0:21:27.720
<v Speaker 1>really looking forward to engage with new organizations, with other

0:21:27.800 --> 0:21:30.399
<v Speaker 1>policy makers to make sure that we are really a

0:21:30.480 --> 0:21:33.720
<v Speaker 1>hope to highlight what works, what can be done, and

0:21:33.840 --> 0:21:36.400
<v Speaker 1>how others can get there. That's fantastic This seems super

0:21:36.440 --> 0:21:38.439
<v Speaker 1>needed and I look forward to hearing a lot more

0:21:38.440 --> 0:21:41.000
<v Speaker 1>about it in the future. Again, Bloomberg dot Com, Forward,

0:21:41.040 --> 0:21:44.560
<v Speaker 1>slash net zero, Pathfinders, Luisa, thanks for joining us. Thank you,

0:21:44.680 --> 0:21:55.320
<v Speaker 1>Mark with a pleasure. Today's episode of Switched On was

0:21:55.440 --> 0:21:58.440
<v Speaker 1>edited by Rex Warner with Great Stoke Media. Bloomberg Any

0:21:58.480 --> 0:22:00.800
<v Speaker 1>add is a service provided by Bloomberg Finance LP and

0:22:00.840 --> 0:22:03.760
<v Speaker 1>its affiliates. This recording does not constitute, nor should it

0:22:03.800 --> 0:22:07.720
<v Speaker 1>be construed, as investment advice, investment recommendations, or a recommendation

0:22:07.840 --> 0:22:10.840
<v Speaker 1>as to an investment or other strategy. Bloomberginny F should

0:22:10.880 --> 0:22:13.480
<v Speaker 1>not be considered as information sufficient upon which to base

0:22:13.520 --> 0:22:17.000
<v Speaker 1>an investment decision. Neither Bloomberg Finance LP nor any of

0:22:17.080 --> 0:22:20.000
<v Speaker 1>its affiliates makes any representation or warranty as to the

0:22:20.080 --> 0:22:23.320
<v Speaker 1>accuracy or completeness of the information contained in this recording,

0:22:23.400 --> 0:22:25.720
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0:22:25.760 --> 0:22:26.640
<v Speaker 1>expressly disclained