1 00:00:02,000 --> 00:00:11,360 Speaker 1: Welcome to Zero. I'm Akshatrati in Charmel Shake Egypt. China's 2 00:00:11,400 --> 00:00:15,160 Speaker 1: record breaking drought is scorched, farm buyers breaking out around 3 00:00:15,200 --> 00:00:22,319 Speaker 1: London as the city Egypt is preparing to host the 4 00:00:22,360 --> 00:00:25,919 Speaker 1: next COP summit in November with an hour of new pledges, 5 00:00:26,280 --> 00:00:31,800 Speaker 1: commitments and proe justice for my people. I won't climate justice. 6 00:00:32,320 --> 00:00:36,640 Speaker 1: We came forward to bear the responsibility of hosting COP 7 00:00:36,640 --> 00:00:44,440 Speaker 1: twenty seven in the fight against climate change. We are 8 00:00:44,560 --> 00:00:47,480 Speaker 1: rapidly approaching the end of week one at COP twenty seven, 9 00:00:47,760 --> 00:00:50,559 Speaker 1: and all eyes are turning to the US, with President 10 00:00:50,640 --> 00:00:54,440 Speaker 1: Biden due to make a flying visit on Friday. Later 11 00:00:54,480 --> 00:00:57,000 Speaker 1: in this episode, we'll hear from the White House National 12 00:00:57,040 --> 00:01:00,960 Speaker 1: Climate Advisor Ali Zad about how he plans to advance 13 00:01:01,000 --> 00:01:04,840 Speaker 1: the climate agenda domestically in the US. But with me 14 00:01:05,000 --> 00:01:08,360 Speaker 1: now is John Parr, head of ESG and Energy at 15 00:01:08,360 --> 00:01:11,920 Speaker 1: Bloomberg News. Welcome to the show. John, great to be here. 16 00:01:12,200 --> 00:01:14,399 Speaker 1: How have you found COP so far? This is only 17 00:01:14,400 --> 00:01:17,200 Speaker 1: my second COP. I'm used to covering events that are 18 00:01:17,280 --> 00:01:21,240 Speaker 1: quite self contained, are quite focused on two or three 19 00:01:21,680 --> 00:01:25,080 Speaker 1: particular points about G seven and G twenties, but just 20 00:01:25,440 --> 00:01:29,400 Speaker 1: the sheer range of issues here can be a little overwhelming. 21 00:01:29,560 --> 00:01:31,520 Speaker 1: But what I've been struck by, I mean, obviously the 22 00:01:31,560 --> 00:01:34,720 Speaker 1: loss and damage story has been front and center. This 23 00:01:34,760 --> 00:01:37,440 Speaker 1: is the Africa COP and we're seeing the African nations 24 00:01:37,440 --> 00:01:40,679 Speaker 1: coming to the table demanding more money as expected, the 25 00:01:40,800 --> 00:01:44,320 Speaker 1: rich countries are saying nice warm words, no sign of 26 00:01:44,319 --> 00:01:47,280 Speaker 1: that money coming. The other thing I've really noticed how 27 00:01:47,319 --> 00:01:51,919 Speaker 1: the biodiversity agenda is really becoming more and more important. 28 00:01:52,120 --> 00:01:54,560 Speaker 1: People are becoming more and more vocal about it, Bankers 29 00:01:54,880 --> 00:01:57,440 Speaker 1: are becoming more and more interested in it. So when 30 00:01:57,440 --> 00:01:59,800 Speaker 1: I leave COP, that's something I want to dig more 31 00:01:59,880 --> 00:02:04,240 Speaker 1: into the whole question of rainforest preservations. How can Wall Street, 32 00:02:04,320 --> 00:02:06,800 Speaker 1: how can finance be a part of that? Is this 33 00:02:06,960 --> 00:02:10,840 Speaker 1: just another strand of greenwashing or is this a new 34 00:02:11,480 --> 00:02:15,720 Speaker 1: and potent frontier in the climate debate. Now, let's look 35 00:02:15,760 --> 00:02:18,240 Speaker 1: at the current geopolitical situation and how do you think 36 00:02:18,240 --> 00:02:20,880 Speaker 1: that's affecting Top twenty seven. Well, I think the current 37 00:02:20,919 --> 00:02:25,720 Speaker 1: geopolitical situation is obviously very very fraught. This is a 38 00:02:25,800 --> 00:02:28,519 Speaker 1: COP that is being overshadowed, of course by the energy 39 00:02:28,720 --> 00:02:31,680 Speaker 1: crisis by Ukraine, and I think there's two ways of 40 00:02:31,720 --> 00:02:34,760 Speaker 1: looking at that. On the one hand, you can argue 41 00:02:34,840 --> 00:02:37,639 Speaker 1: that the climate story is becoming less and less important 42 00:02:37,919 --> 00:02:42,919 Speaker 1: for rich countries, especially as they scramble to guarantee their 43 00:02:43,040 --> 00:02:45,680 Speaker 1: energy security. But also, I mean, I've heard a lot 44 00:02:45,720 --> 00:02:47,720 Speaker 1: of people saying this is just going to accelerate the 45 00:02:47,800 --> 00:02:50,720 Speaker 1: energy transition. I've been particularly struck in the run up 46 00:02:50,720 --> 00:02:53,359 Speaker 1: to COP what we actually so I'm based in London, 47 00:02:53,680 --> 00:02:56,640 Speaker 1: was just how controversial the whole question of whether Rishi 48 00:02:56,720 --> 00:02:58,880 Speaker 1: Sunac would come to cop or not was. It was 49 00:02:58,919 --> 00:03:00,520 Speaker 1: front page news in the way that I just don't 50 00:03:00,560 --> 00:03:03,040 Speaker 1: think would have been the case five years ago. I 51 00:03:03,080 --> 00:03:06,000 Speaker 1: think the energy crisis story is the number one story 52 00:03:06,000 --> 00:03:07,800 Speaker 1: in the world right now, but I think in the 53 00:03:07,840 --> 00:03:11,799 Speaker 1: minds of the electorate it is actually pushing the green 54 00:03:11,960 --> 00:03:17,000 Speaker 1: energy security story higher up the agenda. Now. Biden will 55 00:03:17,040 --> 00:03:20,519 Speaker 1: be speaking on Friday. What do you expect. How will 56 00:03:20,560 --> 00:03:23,280 Speaker 1: that change things? I don't know if it'll change Well, okay, 57 00:03:23,320 --> 00:03:26,280 Speaker 1: there's a few things to unpack there. On the one hand, 58 00:03:26,639 --> 00:03:29,920 Speaker 1: he has a good story to tell. He's coming on 59 00:03:29,960 --> 00:03:33,400 Speaker 1: the back of midterm results as we speak, but they 60 00:03:33,440 --> 00:03:35,640 Speaker 1: did much better than expect it. He's coming on the 61 00:03:35,640 --> 00:03:39,000 Speaker 1: back of passing the Inflation Reduction Act, he can, you know, 62 00:03:39,040 --> 00:03:41,520 Speaker 1: he can credibly come to this cop and say, we 63 00:03:41,680 --> 00:03:44,360 Speaker 1: America are finally stepping up to the plate. We are 64 00:03:44,400 --> 00:03:47,000 Speaker 1: doing our bits. We are pouring money into into the 65 00:03:47,080 --> 00:03:50,320 Speaker 1: clean technologies that are going to take us to net zero. 66 00:03:51,000 --> 00:03:53,200 Speaker 1: On the other side, the developing world will say, well, 67 00:03:53,200 --> 00:03:56,440 Speaker 1: that's great, you're looking after yourself. You're pouring money into 68 00:03:56,440 --> 00:04:00,400 Speaker 1: your own domestic green technologies. A that looks like protectism 69 00:04:00,440 --> 00:04:03,720 Speaker 1: to us given the terms and conditions of IRA and B. 70 00:04:05,000 --> 00:04:07,040 Speaker 1: You know, you're putting all this money three hundred and 71 00:04:07,040 --> 00:04:09,400 Speaker 1: fifty billion or whatever it is into your own domestic 72 00:04:09,440 --> 00:04:12,560 Speaker 1: technologies and you can't give us a tiny, tiny fraction 73 00:04:12,600 --> 00:04:15,400 Speaker 1: of that. So it could go both ways for him. 74 00:04:15,440 --> 00:04:17,200 Speaker 1: He'll stand up and say, we're doing giving all this 75 00:04:17,200 --> 00:04:20,440 Speaker 1: money to domestic industry. African countries will be like, well, 76 00:04:20,600 --> 00:04:22,520 Speaker 1: I'm sure many of them will sit back on their 77 00:04:22,880 --> 00:04:25,520 Speaker 1: seats and stroke their chins and say, what about us. Now, 78 00:04:25,560 --> 00:04:27,760 Speaker 1: if he does end up losing one of the Houses 79 00:04:27,800 --> 00:04:31,600 Speaker 1: of Congress, how does that affect his climate agenda? Well, 80 00:04:31,600 --> 00:04:33,560 Speaker 1: that's a big problem, right. I mean, I think the 81 00:04:33,680 --> 00:04:36,080 Speaker 1: margin of the majority that they had was always very, 82 00:04:36,160 --> 00:04:39,080 Speaker 1: very narrow. They didn't even have a majority in the Senate. 83 00:04:39,120 --> 00:04:41,719 Speaker 1: They needed Kamala Harris is casting voute to get a 84 00:04:41,720 --> 00:04:44,120 Speaker 1: lot of stuff done there, so they squeeze as much 85 00:04:44,120 --> 00:04:46,560 Speaker 1: of juice out of that as they possibly could. I 86 00:04:46,560 --> 00:04:49,520 Speaker 1: think now it's going to be very very difficult, certainly 87 00:04:49,960 --> 00:04:52,880 Speaker 1: when it comes to getting more at climate aid to 88 00:04:53,000 --> 00:04:54,359 Speaker 1: the rest of the world that does need to go 89 00:04:54,400 --> 00:04:58,520 Speaker 1: through Congress. It's going to be very very hard. That said, 90 00:04:59,200 --> 00:05:01,880 Speaker 1: I think if you're an opportunistic president and if the 91 00:05:01,920 --> 00:05:04,719 Speaker 1: staff around them are thinking cleverly, you're going to think, Okay, 92 00:05:04,760 --> 00:05:07,760 Speaker 1: are the Republicans who we can break off? And you know, 93 00:05:07,880 --> 00:05:10,160 Speaker 1: especially if it's really like if it's a very very 94 00:05:10,160 --> 00:05:13,160 Speaker 1: slim and Republican majority in the House, maybe there's a 95 00:05:13,160 --> 00:05:15,039 Speaker 1: few we can pick off and get them to back 96 00:05:15,360 --> 00:05:18,480 Speaker 1: bits and pieces of climate legislation. Carbon capture staff was 97 00:05:18,480 --> 00:05:20,880 Speaker 1: done under Trump, so it was not impossible. And I 98 00:05:20,920 --> 00:05:24,120 Speaker 1: think one of the most interesting pieces of climate journalism 99 00:05:24,120 --> 00:05:26,040 Speaker 1: I've read this year was a Bloomberg opinion piece by 100 00:05:26,120 --> 00:05:29,359 Speaker 1: my colleague Liam Denning where he argued, if you look 101 00:05:29,440 --> 00:05:32,200 Speaker 1: at the US districts, if you break down the US 102 00:05:32,320 --> 00:05:35,799 Speaker 1: district by district, some of the districts that will benefit 103 00:05:35,920 --> 00:05:40,320 Speaker 1: the most from the Inflation Reduction Act are actually Republican districts. Yeah, 104 00:05:40,360 --> 00:05:42,520 Speaker 1: they are the places where there's a lot of land 105 00:05:42,680 --> 00:05:45,279 Speaker 1: and renewable energy. If you're building it is going to 106 00:05:45,320 --> 00:05:48,000 Speaker 1: require a lot of land, exactly. So it's going to 107 00:05:48,080 --> 00:05:52,560 Speaker 1: become clear over time to voters in that state that this, 108 00:05:53,160 --> 00:05:57,640 Speaker 1: whatever you think about capitalism, solar and wind and carbon capture, 109 00:05:57,800 --> 00:06:01,760 Speaker 1: it creates jobs. And if you're an opportunity Republican politician, 110 00:06:02,279 --> 00:06:05,240 Speaker 1: maybe it's not in new interests to vote against climate legislation. 111 00:06:05,279 --> 00:06:08,120 Speaker 1: And in fact, maybe it's in my interests to vote 112 00:06:08,120 --> 00:06:12,520 Speaker 1: for climate legislation that's well structured and will benefit my constituency. 113 00:06:12,800 --> 00:06:16,200 Speaker 1: So it's not impossible that over the next two years, certainly, 114 00:06:16,200 --> 00:06:18,280 Speaker 1: I'm sure that Democrats will try the White House will 115 00:06:18,320 --> 00:06:21,000 Speaker 1: try to see stuff getting through, and I think as 116 00:06:21,040 --> 00:06:24,359 Speaker 1: the economy of America changes, and as the sort of 117 00:06:24,360 --> 00:06:27,960 Speaker 1: the energy mix in the American economy changes, we might 118 00:06:28,120 --> 00:06:32,560 Speaker 1: see new power dynamics playing out when it comes to 119 00:06:33,279 --> 00:06:36,160 Speaker 1: climate legislation that Guests passed. I suppose the one thing 120 00:06:36,160 --> 00:06:39,039 Speaker 1: that Democrats will be careful to do or not to do, 121 00:06:39,160 --> 00:06:42,159 Speaker 1: is to call a climate legislation find another word for it. 122 00:06:42,200 --> 00:06:46,480 Speaker 1: I mean we're talking about the Inaction Act exactly. Thank you, John. 123 00:06:47,000 --> 00:06:55,200 Speaker 1: My pleasure talking of Biden and the midterms. After the break, 124 00:06:55,240 --> 00:06:58,159 Speaker 1: we'll be diving deep into how the US can advance 125 00:06:58,279 --> 00:07:02,400 Speaker 1: its domestic climate agenda, with White House National Climate Advisor 126 00:07:02,560 --> 00:07:13,600 Speaker 1: Ali Zadi joining me. Now is Ali Zadi, the White 127 00:07:13,600 --> 00:07:17,560 Speaker 1: House National Climate Advisor. We recorded the conversation live as 128 00:07:17,600 --> 00:07:20,000 Speaker 1: part of the Bloomberg Green Event at COP twenty seven. 129 00:07:20,440 --> 00:07:22,360 Speaker 1: If you'd like to see the full video of the 130 00:07:22,400 --> 00:07:26,040 Speaker 1: conversation or more videos from the event, head to the 131 00:07:26,080 --> 00:07:29,680 Speaker 1: Bloomberg Live YouTube channel linked in the show notes. So, 132 00:07:29,720 --> 00:07:34,080 Speaker 1: Ali Zadi, welcome to Zero. All right, I'm on the podcast. 133 00:07:34,480 --> 00:07:38,000 Speaker 1: I'm excited. Now we're going to talk a lot about 134 00:07:38,000 --> 00:07:41,800 Speaker 1: collaboration because we're here at COP. But I cannot not 135 00:07:41,880 --> 00:07:45,680 Speaker 1: talk about a big competition that's happening in Australia where 136 00:07:45,720 --> 00:07:48,240 Speaker 1: India is right now playing a semifinal and there's a 137 00:07:48,360 --> 00:07:51,160 Speaker 1: very high chance that India and Pakistan. I was born 138 00:07:51,200 --> 00:07:54,080 Speaker 1: in India, You're a born in Pakistan is going to 139 00:07:54,160 --> 00:07:57,920 Speaker 1: be playing the final on Sunday. Who are you excited 140 00:07:57,920 --> 00:08:00,760 Speaker 1: about it? Well? I think I have to root for 141 00:08:01,600 --> 00:08:05,320 Speaker 1: the Green cricket team, right, the Green cricket team. I 142 00:08:05,360 --> 00:08:08,560 Speaker 1: gonna be on brand. Well, look, India has the Blue 143 00:08:08,640 --> 00:08:14,480 Speaker 1: Jays Democrats. You have to root for India. Now, well, okay, 144 00:08:14,560 --> 00:08:18,400 Speaker 1: let's put rivalles apart and talk climate. And let me 145 00:08:18,480 --> 00:08:20,960 Speaker 1: start by doing you a favor and list all of 146 00:08:21,000 --> 00:08:25,200 Speaker 1: the domestic climate successes of the Biden administration. Will be 147 00:08:25,280 --> 00:08:28,040 Speaker 1: in the files and you can you can fill the 148 00:08:28,080 --> 00:08:30,320 Speaker 1: gaps if I have any. So you passed two bills 149 00:08:30,320 --> 00:08:34,760 Speaker 1: with bipartisan support. You actually got Republicans to vote for 150 00:08:34,880 --> 00:08:40,000 Speaker 1: climate policy. Huge congratulations. You ratified the Kigali Amendment to 151 00:08:40,040 --> 00:08:44,200 Speaker 1: the Montreal Protocol, which reduces the amount of refrigerent and 152 00:08:44,240 --> 00:08:47,120 Speaker 1: gases put into the atmosphere and if everyone follows it, 153 00:08:47,520 --> 00:08:50,440 Speaker 1: that could cut temperatures by point five degrees celsius. A 154 00:08:50,600 --> 00:08:54,320 Speaker 1: huge win. But the US was laid to the party. 155 00:08:54,360 --> 00:08:57,440 Speaker 1: But you've got it done. Very important. You passed the 156 00:08:57,520 --> 00:09:02,400 Speaker 1: IRA the biggest climate the USS bust but in und 157 00:09:02,600 --> 00:09:07,400 Speaker 1: seventy billion dollars at least to its climate funding. Now 158 00:09:07,520 --> 00:09:12,960 Speaker 1: did I miss anything? Oh yeah, we set new standards 159 00:09:13,000 --> 00:09:16,160 Speaker 1: on cars and trucks, Presidents side and executive order. We're 160 00:09:16,160 --> 00:09:20,000 Speaker 1: now moving towards fifty percent electric by twenty thirty. In 161 00:09:20,040 --> 00:09:23,559 Speaker 1: the industrial sector oil and gas, we issued a methane 162 00:09:23,679 --> 00:09:28,920 Speaker 1: reduction program that by our measure at least already is 163 00:09:28,960 --> 00:09:32,040 Speaker 1: aiming at something like one hundred million metric tons. That's 164 00:09:32,080 --> 00:09:36,959 Speaker 1: over a percentage point of US emissions reductions. We're doing 165 00:09:37,160 --> 00:09:40,199 Speaker 1: stuff on federal procurement, which I hope we'll talk about. 166 00:09:40,240 --> 00:09:45,280 Speaker 1: That's path breaking steel, cement, flat glass clean now and 167 00:09:45,400 --> 00:09:49,359 Speaker 1: in the future. We're doing work on resilience and adaptation. 168 00:09:49,520 --> 00:09:51,840 Speaker 1: You know, one of the things we have to realize 169 00:09:51,920 --> 00:09:55,200 Speaker 1: is even if we're successful, we're still going to have 170 00:09:55,280 --> 00:10:00,960 Speaker 1: to deal with the fires, the droughts, the floods, the hurricanes. 171 00:10:01,360 --> 00:10:04,240 Speaker 1: We made a fifty billion dollar investment, but we're also 172 00:10:04,280 --> 00:10:07,959 Speaker 1: setting new codes and standards and doing research and development 173 00:10:08,679 --> 00:10:14,960 Speaker 1: in that direction. We are, I think, doing really inventive 174 00:10:14,960 --> 00:10:22,080 Speaker 1: work in next generation of building technologies, setting standards for 175 00:10:23,280 --> 00:10:27,880 Speaker 1: a multitude of commercial and residential appliances making them more 176 00:10:27,960 --> 00:10:33,040 Speaker 1: energy efficient, leading the marketplace in that regard. And you know, 177 00:10:33,960 --> 00:10:35,920 Speaker 1: it can go on and on and on. But I 178 00:10:35,960 --> 00:10:39,360 Speaker 1: think the other place where I would point folks to 179 00:10:40,160 --> 00:10:43,800 Speaker 1: is the integration between what we're doing domestically and what 180 00:10:43,840 --> 00:10:47,160 Speaker 1: we're doing internationally. You know, the relationship with the EU 181 00:10:47,360 --> 00:10:52,880 Speaker 1: on the carbon adjustment integrating considerations around CO two. In 182 00:10:52,920 --> 00:10:57,520 Speaker 1: the way steel moves across borders, that's path breaking. So 183 00:10:57,840 --> 00:11:00,240 Speaker 1: you know, so many touch points and very excited did 184 00:11:00,640 --> 00:11:03,280 Speaker 1: hopefully to drill down into some of them. Well, all 185 00:11:03,360 --> 00:11:06,960 Speaker 1: those wins get you to forty percent reduction by twenty thirty, 186 00:11:07,000 --> 00:11:10,240 Speaker 1: it's still far away from the fifty percent target that 187 00:11:10,360 --> 00:11:14,160 Speaker 1: Biden has said, and your job as the National Climate 188 00:11:14,200 --> 00:11:17,600 Speaker 1: Advisor is to make sure that gap doesn't exist. What 189 00:11:17,640 --> 00:11:20,160 Speaker 1: are you doing additionally, now we've talked about a long 190 00:11:20,200 --> 00:11:27,400 Speaker 1: list to fill that gap, So far away is subjective. Um, well, 191 00:11:27,440 --> 00:11:30,000 Speaker 1: you're at thirty percent reduction now, so you're in a 192 00:11:30,480 --> 00:11:34,040 Speaker 1: percent there, then you're going ten percent more. So that's 193 00:11:34,160 --> 00:11:36,920 Speaker 1: halfway if you go from where you are today. Yeah, 194 00:11:37,640 --> 00:11:40,560 Speaker 1: U so, I you know, I think it's two thirds 195 00:11:40,600 --> 00:11:42,640 Speaker 1: of where we are from now. But I get you 196 00:11:42,720 --> 00:11:47,079 Speaker 1: on the baselines. Um, never quibble with the terminal on 197 00:11:47,200 --> 00:11:51,240 Speaker 1: the map. But but um, look, I think there there 198 00:11:51,240 --> 00:11:55,960 Speaker 1: are a few things. Number one, the power sector drives 199 00:11:56,120 --> 00:12:00,200 Speaker 1: a huge amount of the emissions reductions in this twenty 200 00:12:00,280 --> 00:12:03,480 Speaker 1: thirty time horizon. And you know, we talk a lot 201 00:12:03,559 --> 00:12:08,400 Speaker 1: about this being the decisive decade for climate action. That's 202 00:12:08,400 --> 00:12:11,920 Speaker 1: obviously not something we invented. It's a reality that the 203 00:12:11,960 --> 00:12:14,480 Speaker 1: science imposes on us and that we're seeing all in 204 00:12:14,520 --> 00:12:21,920 Speaker 1: our communities. But for the power sector, decisive decade means delivery, right, 205 00:12:21,960 --> 00:12:24,120 Speaker 1: I mean steel in the ground. And I think this 206 00:12:24,200 --> 00:12:26,199 Speaker 1: is a challenge that folks face in a lot of 207 00:12:26,280 --> 00:12:30,599 Speaker 1: jurisdictions around the world. How do we actually build these projects? 208 00:12:30,600 --> 00:12:33,600 Speaker 1: Do we get the permitting done, do we get the 209 00:12:33,679 --> 00:12:38,200 Speaker 1: interconnection done. It's one thing to get the planning done 210 00:12:38,240 --> 00:12:40,960 Speaker 1: for a solar project, it's another to make sure it's 211 00:12:41,000 --> 00:12:44,000 Speaker 1: actually putting electrons on the gridge. So that's going to 212 00:12:44,080 --> 00:12:49,120 Speaker 1: be a big variable. The second thing i'd note is 213 00:12:50,120 --> 00:12:53,000 Speaker 1: there are a lot of these places that we've considered 214 00:12:53,040 --> 00:12:58,360 Speaker 1: for a really long time to be hard to decarbonize, right, 215 00:12:58,559 --> 00:13:03,600 Speaker 1: And you know, President Biden, I think teases his team 216 00:13:03,600 --> 00:13:06,840 Speaker 1: all the time the hard things are what we're supposed 217 00:13:06,880 --> 00:13:11,360 Speaker 1: to do in America, And so we've really gone and 218 00:13:11,640 --> 00:13:15,240 Speaker 1: made a real focus of the industrial sector and the 219 00:13:15,280 --> 00:13:19,280 Speaker 1: agriculture sector these hard to decarbonize places as opportunities. There's 220 00:13:19,320 --> 00:13:22,439 Speaker 1: funding for that in Inflation Reduction SECT and hundreds of 221 00:13:22,480 --> 00:13:25,600 Speaker 1: millions of metrics, tons of opportunity. Now, let's come to 222 00:13:25,640 --> 00:13:29,600 Speaker 1: the news outside of cop which is the midterms. It 223 00:13:29,679 --> 00:13:32,200 Speaker 1: seems likely, it hasn't been called yet, but it seems 224 00:13:32,240 --> 00:13:35,280 Speaker 1: likely that the Democrats may lose at least one of 225 00:13:35,320 --> 00:13:40,720 Speaker 1: the houses, which means that passing new legislation, any legislation, 226 00:13:40,960 --> 00:13:44,280 Speaker 1: is going to be nearly impossible. Should we expect no 227 00:13:44,360 --> 00:13:48,240 Speaker 1: more new climate laws for the next two years from you? 228 00:13:50,160 --> 00:13:52,360 Speaker 1: So let me say three things, one of which is 229 00:13:52,400 --> 00:13:55,719 Speaker 1: slightly snarky. I went back and I read all of 230 00:13:55,760 --> 00:14:00,360 Speaker 1: the headlines from the last time we came to the 231 00:14:00,400 --> 00:14:05,160 Speaker 1: cop and you know, we had the Post and Reuters 232 00:14:05,160 --> 00:14:09,360 Speaker 1: and Times and others saying there's a cloud hanging over 233 00:14:09,480 --> 00:14:13,680 Speaker 1: Biden and will he really deliver? And he's here, but 234 00:14:13,800 --> 00:14:16,680 Speaker 1: can he get Congress to come along with him? Point 235 00:14:16,760 --> 00:14:21,120 Speaker 1: number one is we did people love to I think 236 00:14:21,240 --> 00:14:26,200 Speaker 1: view the process with skepticism, and I think, time and 237 00:14:26,400 --> 00:14:29,720 Speaker 1: time and time again, Joe Biden is delivered. So that's 238 00:14:29,720 --> 00:14:33,360 Speaker 1: the thing number one. Thing Number two is the point 239 00:14:33,600 --> 00:14:39,880 Speaker 1: that you made earlier. The bipartisan infrastructure law Republicans and 240 00:14:40,000 --> 00:14:45,680 Speaker 1: Democrats included fifteen billion dollars for an electric vehicle charging 241 00:14:45,720 --> 00:14:49,120 Speaker 1: network five hundred thousand chargers coast to coast in the 242 00:14:49,200 --> 00:14:55,760 Speaker 1: United States, made by union workers in America. Right, that 243 00:14:55,960 --> 00:14:59,000 Speaker 1: same bill included fifteen billion dollars to modernize our grid, 244 00:14:59,080 --> 00:15:03,480 Speaker 1: fifty billion dollars to take on resilience. So Joe Biden 245 00:15:03,560 --> 00:15:06,440 Speaker 1: was able to get Republicans to vote for that. He 246 00:15:06,480 --> 00:15:08,720 Speaker 1: was able to get Republicans to vote for the Kagali 247 00:15:08,840 --> 00:15:15,880 Speaker 1: Amendment ratification. Third point, the political economy of climate action 248 00:15:15,920 --> 00:15:18,800 Speaker 1: in the United States. And I say this as someone 249 00:15:19,360 --> 00:15:22,800 Speaker 1: who's in the Obama administration, who's been in the private sector, 250 00:15:22,840 --> 00:15:25,520 Speaker 1: who's sat at a university and mused at what's going 251 00:15:25,560 --> 00:15:28,160 Speaker 1: on from Stanford, beautiful place to muse at the world 252 00:15:28,200 --> 00:15:37,440 Speaker 1: from and the over that longitude. The secular, an unambiguous 253 00:15:37,480 --> 00:15:40,560 Speaker 1: trend of political economy in the United States on climate 254 00:15:40,560 --> 00:15:44,800 Speaker 1: action is positive. And the reason is because we now 255 00:15:44,960 --> 00:15:48,680 Speaker 1: see the economic upside not just in the boardroom, but 256 00:15:48,880 --> 00:15:51,600 Speaker 1: for our workers and for our communities, and we're fully 257 00:15:51,640 --> 00:15:53,840 Speaker 1: leaned into that. Well, I should respond to the snot 258 00:15:53,920 --> 00:15:56,760 Speaker 1: because the job of a journalist is to be fair, 259 00:15:57,080 --> 00:16:00,080 Speaker 1: be fair, to be fair. There was a cloud hanging 260 00:16:00,080 --> 00:16:03,920 Speaker 1: over Biden. To be fair, I started with the successes 261 00:16:03,960 --> 00:16:07,360 Speaker 1: of the Biden administration. But my question was, will there 262 00:16:07,400 --> 00:16:10,320 Speaker 1: be no more new climate laws over the next two years? 263 00:16:11,000 --> 00:16:13,240 Speaker 1: You know, I think that's yet to be seen. Just 264 00:16:13,280 --> 00:16:17,160 Speaker 1: to go back in time, December twenty twenty, I'm just 265 00:16:17,200 --> 00:16:21,280 Speaker 1: giving you the best analogy I can or contrast case 266 00:16:21,360 --> 00:16:25,560 Speaker 1: rather not analogy. December twenty twenty, the United States Congress 267 00:16:25,640 --> 00:16:33,239 Speaker 1: passed a bipartisan energy law that included funding for innovation 268 00:16:33,400 --> 00:16:38,240 Speaker 1: on clean energy technologies. It passed the Aim Act, which 269 00:16:38,320 --> 00:16:40,640 Speaker 1: actually allows us to set rules and we have to 270 00:16:40,760 --> 00:16:44,720 Speaker 1: phase down hydrofluora carbons. That was a Republican congressman and 271 00:16:44,800 --> 00:16:47,840 Speaker 1: a Republican president signed it. Yeah, there was a Common 272 00:16:47,880 --> 00:16:50,480 Speaker 1: Capture Act that was passed in the Trump So, you know, 273 00:16:50,640 --> 00:16:53,960 Speaker 1: I think it's possible, it's feasible, and we're trying to 274 00:16:53,960 --> 00:16:56,760 Speaker 1: build the political economy for action. I'm not going to 275 00:16:56,800 --> 00:17:00,520 Speaker 1: prejudge the next two years, but I'll say this, We've 276 00:17:00,560 --> 00:17:03,480 Speaker 1: got momentum, we've got the leader, and we're going to 277 00:17:03,560 --> 00:17:06,200 Speaker 1: keep trying to move forward. Well, the reality is also 278 00:17:06,359 --> 00:17:10,320 Speaker 1: that the division in the US in politics is growing 279 00:17:10,520 --> 00:17:14,480 Speaker 1: on all fronts, but the climate division has been a 280 00:17:14,600 --> 00:17:17,760 Speaker 1: very clear one for some time. And so if we 281 00:17:17,880 --> 00:17:21,280 Speaker 1: look at the Inflation Reduction Act, which is going to 282 00:17:21,320 --> 00:17:25,359 Speaker 1: be deployed and will require the support of Republican states 283 00:17:25,520 --> 00:17:29,080 Speaker 1: for those deployments to actually happen for all that money 284 00:17:29,080 --> 00:17:33,119 Speaker 1: to be actually spent, we know that Republicans can act 285 00:17:33,160 --> 00:17:37,680 Speaker 1: against their interest, as they are doing with ESG investments, 286 00:17:38,560 --> 00:17:42,119 Speaker 1: they may do so with IRA just for spite. What 287 00:17:42,200 --> 00:17:45,800 Speaker 1: are the bottlenecks and how you're tackling those, Well, one 288 00:17:45,840 --> 00:17:49,280 Speaker 1: thing I think you do is to be very purposeful 289 00:17:49,560 --> 00:17:54,120 Speaker 1: about pushing for a visible difference in as many communities 290 00:17:54,320 --> 00:17:56,880 Speaker 1: in every zip code of the United States as possible. 291 00:17:57,440 --> 00:17:59,720 Speaker 1: And I'll give you the example of our Climate Smart 292 00:17:59,720 --> 00:18:04,320 Speaker 1: ag culture program. So in September we issued two point 293 00:18:04,320 --> 00:18:08,240 Speaker 1: eight billion dollars to incentivize farmers to use climate smart 294 00:18:08,280 --> 00:18:13,479 Speaker 1: agriculture practices. Fifty states, all fifty states the United States, 295 00:18:13,760 --> 00:18:19,280 Speaker 1: fifty thousand farms, twenty million acres. Right. So I think 296 00:18:19,280 --> 00:18:21,800 Speaker 1: that's part of how you deal with it, is to 297 00:18:21,840 --> 00:18:28,480 Speaker 1: make sure that everybody is being benefiting from the upside. 298 00:18:28,800 --> 00:18:31,800 Speaker 1: The second is we've got to engage with these governors. 299 00:18:32,520 --> 00:18:35,640 Speaker 1: So the electric vehicle charging money I's talked about, that 300 00:18:35,720 --> 00:18:38,879 Speaker 1: money runs through the states. Not all of our states 301 00:18:38,880 --> 00:18:43,320 Speaker 1: have democratic governors. All fifty states submitted a plan to 302 00:18:43,359 --> 00:18:46,080 Speaker 1: get the money. So it's a lot of shoe leather 303 00:18:46,240 --> 00:18:47,919 Speaker 1: we get. We go through a lot of shoes to 304 00:18:47,960 --> 00:18:51,080 Speaker 1: get this done. But we're going to keep hustling and 305 00:18:51,080 --> 00:18:52,840 Speaker 1: we're going to keep trying to bring people along. I 306 00:18:52,920 --> 00:18:57,480 Speaker 1: think that you know, the skepticism is right because it's 307 00:18:57,520 --> 00:19:02,199 Speaker 1: informed by choices vote an elected office have made that 308 00:19:02,320 --> 00:19:07,480 Speaker 1: I think are not representative of the best economic interests 309 00:19:07,520 --> 00:19:12,400 Speaker 1: of their constituents. But to us, the economics are irresistible, 310 00:19:12,640 --> 00:19:15,359 Speaker 1: and the more we talk about them, the harder it 311 00:19:15,400 --> 00:19:18,639 Speaker 1: becomes for people to not be responsive to what's the 312 00:19:18,720 --> 00:19:22,840 Speaker 1: best for the American people. Now, talking of communities and 313 00:19:23,000 --> 00:19:27,080 Speaker 1: changing the political economy, you've made a commitment to justice 314 00:19:27,160 --> 00:19:29,199 Speaker 1: forty This is the idea of where forty percent of 315 00:19:29,240 --> 00:19:32,000 Speaker 1: the benefits from many of the federal climate and environmental 316 00:19:32,000 --> 00:19:36,840 Speaker 1: programs will go to disadvantaged communities. And that's very welcome 317 00:19:37,200 --> 00:19:42,080 Speaker 1: and will change the political economy. But give me an example, 318 00:19:42,240 --> 00:19:46,760 Speaker 1: a specific one of how exactly it works. That's a 319 00:19:46,760 --> 00:19:49,280 Speaker 1: good question, And this is one that's really near and 320 00:19:49,320 --> 00:19:52,639 Speaker 1: dear to my heart. I actually before the Biden administration 321 00:19:52,680 --> 00:19:54,399 Speaker 1: went to the state of New York where they passed 322 00:19:54,480 --> 00:19:58,760 Speaker 1: this legislation to do thirty five percent of the benefits. 323 00:19:59,440 --> 00:20:02,840 Speaker 1: And then and you know, talking to the at the time, 324 00:20:02,880 --> 00:20:06,959 Speaker 1: the candidate Biden, and he says, well's go do forty 325 00:20:08,119 --> 00:20:11,560 Speaker 1: and now we're doing it. An example of that, we 326 00:20:11,640 --> 00:20:16,520 Speaker 1: have a program through the Federal Energy Management Agency FEMA. 327 00:20:17,080 --> 00:20:20,800 Speaker 1: It's a new newish program called Brick, which is about 328 00:20:20,840 --> 00:20:27,560 Speaker 1: building resilience into our communities. That program included justice forty 329 00:20:28,240 --> 00:20:34,120 Speaker 1: as part of its criteria for putting dollars out. Multiple 330 00:20:34,160 --> 00:20:37,320 Speaker 1: billions of dollars have moved out, and they have prioritized 331 00:20:37,359 --> 00:20:42,040 Speaker 1: communities as are disadvantaged. One very specific grant that I 332 00:20:42,080 --> 00:20:48,719 Speaker 1: think is illustrative is a wastewater facility in Jacksonville, Florida. 333 00:20:48,880 --> 00:20:51,760 Speaker 1: It serves that sort of southern part of Georgia and 334 00:20:52,600 --> 00:20:57,520 Speaker 1: northern part of Florida. And you know, this is like 335 00:20:57,920 --> 00:21:01,680 Speaker 1: so many communities everybody knows, right the lower lying areas 336 00:21:01,760 --> 00:21:06,359 Speaker 1: or the places where lower income folks live. And as 337 00:21:06,520 --> 00:21:13,040 Speaker 1: sea levels rise and the flooding increases over time, those 338 00:21:13,080 --> 00:21:18,479 Speaker 1: facilities don't hold up and people are absorbing literal filth 339 00:21:19,200 --> 00:21:23,359 Speaker 1: because we fail to invest brick that grant because of 340 00:21:23,440 --> 00:21:27,680 Speaker 1: Justice forty. Prioritizing them is going to help them make 341 00:21:27,720 --> 00:21:31,520 Speaker 1: that facility more resilient and adapt it to the changing climate. 342 00:21:32,320 --> 00:21:34,320 Speaker 1: That's a big deal, I would say, though, low lying 343 00:21:34,359 --> 00:21:37,520 Speaker 1: areas are also very attractive to rich people. Florida and 344 00:21:37,560 --> 00:21:42,280 Speaker 1: its coast is a real good example a Miami beach partisan. 345 00:21:42,359 --> 00:21:46,040 Speaker 1: So I hear you now. A lot of the talk 346 00:21:46,040 --> 00:21:48,840 Speaker 1: at COUP twenty seven is about how countries can collaborate. 347 00:21:49,640 --> 00:21:53,840 Speaker 1: But we live in a cricket except on cricket, but 348 00:21:53,960 --> 00:21:57,840 Speaker 1: we live in a capitalistic economy, and competition rules the world. Now. 349 00:21:58,000 --> 00:22:01,520 Speaker 1: With the IRA, the US has made its biggest bet 350 00:22:01,680 --> 00:22:06,480 Speaker 1: yet to build green technologies. But those industries have already 351 00:22:06,520 --> 00:22:08,960 Speaker 1: been built in China, not all of them, but most 352 00:22:08,960 --> 00:22:12,400 Speaker 1: of them. Is the IRA a signal that the US 353 00:22:12,680 --> 00:22:16,520 Speaker 1: is more now in competition than in collaboration with China. 354 00:22:16,680 --> 00:22:22,040 Speaker 1: Because Carry Secretary Carry confirmed there are no conversations formally 355 00:22:22,080 --> 00:22:26,879 Speaker 1: happening between US and China collaboration anymore on climate. We 356 00:22:26,960 --> 00:22:32,439 Speaker 1: talked about this during the years President Trump was in office. 357 00:22:33,320 --> 00:22:38,200 Speaker 1: The race in the clean energy economy doesn't choose its 358 00:22:38,240 --> 00:22:40,479 Speaker 1: pace based on whether or not the United States has 359 00:22:40,520 --> 00:22:44,200 Speaker 1: chosen to run hard, and so people have been competing 360 00:22:44,320 --> 00:22:47,679 Speaker 1: on these technologies. And I think what's powerful now is 361 00:22:47,720 --> 00:22:51,639 Speaker 1: we're investing in not only building the demand side of 362 00:22:51,640 --> 00:22:55,320 Speaker 1: our market. Right, We're not just deploying the wind turbines 363 00:22:56,240 --> 00:22:59,520 Speaker 1: in our tax code. We have also created a section 364 00:22:59,640 --> 00:23:03,560 Speaker 1: forty five X, I know, really exciting name to incent 365 00:23:04,000 --> 00:23:07,600 Speaker 1: the manufacturing of those components in the United States. And 366 00:23:07,680 --> 00:23:10,439 Speaker 1: if you want the full value of the deployment credit, 367 00:23:11,000 --> 00:23:13,879 Speaker 1: you have to also get a bunch of the steel 368 00:23:14,720 --> 00:23:19,480 Speaker 1: and the input materials from the United States. So heck, yeah, 369 00:23:19,520 --> 00:23:23,800 Speaker 1: we're running to win, and that doesn't come I think 370 00:23:23,800 --> 00:23:27,320 Speaker 1: at the exclusion of anybody. You know, when I think 371 00:23:27,359 --> 00:23:31,960 Speaker 1: about the President's Climate Agenda, one of the three core 372 00:23:32,119 --> 00:23:36,640 Speaker 1: elements of it is this aspect of climate solutions, clean 373 00:23:36,760 --> 00:23:41,160 Speaker 1: energy technologies made in America. And the way I think 374 00:23:41,160 --> 00:23:46,760 Speaker 1: about it is that's America leading by example, not by words. 375 00:23:46,800 --> 00:23:50,560 Speaker 1: So let's have a race to the top. The problem 376 00:23:50,640 --> 00:23:54,520 Speaker 1: is the US is starting lead China. Between around twenty 377 00:23:54,560 --> 00:23:59,440 Speaker 1: ten and twenty eighteen, spend sixty billion dollars just on 378 00:23:59,520 --> 00:24:03,520 Speaker 1: electric cars and batteries, only on one tiny sector of 379 00:24:03,640 --> 00:24:08,640 Speaker 1: the decombinization pie China has a headstock at least a decade. 380 00:24:08,880 --> 00:24:12,000 Speaker 1: How do you think the US will catch up? You know, 381 00:24:12,080 --> 00:24:18,880 Speaker 1: I I'm pretty bullish on the United States, which is 382 00:24:19,080 --> 00:24:27,479 Speaker 1: not unexpected. I taught graduate STEM students. We've got the 383 00:24:27,520 --> 00:24:32,520 Speaker 1: brightest minds in our universities. Our national labs are gone. 384 00:24:32,640 --> 00:24:37,560 Speaker 1: National lab helped invent that technology. China's making the money though, 385 00:24:37,680 --> 00:24:40,320 Speaker 1: and now, no, no, and now, but look look at 386 00:24:40,320 --> 00:24:45,119 Speaker 1: what's happening since the President took office. Forget all of 387 00:24:45,119 --> 00:24:49,840 Speaker 1: the stuff. We've invested one hundred billion dollars of private 388 00:24:49,880 --> 00:24:54,280 Speaker 1: capital flowing in to make the stuff in America, right, 389 00:24:54,440 --> 00:24:57,680 Speaker 1: not just from US companies, foreign direct investment into the 390 00:24:57,760 --> 00:25:01,359 Speaker 1: United States as well. So you know, again one of 391 00:25:01,400 --> 00:25:04,800 Speaker 1: those against Biden, you can bet against America. But I 392 00:25:04,880 --> 00:25:07,720 Speaker 1: feel pretty good that we've got a chance to really 393 00:25:07,760 --> 00:25:10,880 Speaker 1: seize the leadership here and lift up workers and communities 394 00:25:10,880 --> 00:25:14,439 Speaker 1: and process. One of those companies is called CTL. It 395 00:25:14,560 --> 00:25:18,359 Speaker 1: is now the world's largest battery maker. It's Chinese. It 396 00:25:18,480 --> 00:25:21,720 Speaker 1: is at the heart of German industry. Now there's a big, 397 00:25:22,280 --> 00:25:25,680 Speaker 1: big battery plant that they have in Germany, the home 398 00:25:25,760 --> 00:25:30,200 Speaker 1: of automobile, supplying the very heart of the future transportation 399 00:25:31,160 --> 00:25:33,800 Speaker 1: for electric cars, and it is looking to build a 400 00:25:33,880 --> 00:25:36,479 Speaker 1: plant in North America. Probably not in the US as 401 00:25:36,840 --> 00:25:40,080 Speaker 1: we understand, but private capital can also come in from 402 00:25:40,480 --> 00:25:44,480 Speaker 1: Chinese companies that are leading on this. That's true. And 403 00:25:44,880 --> 00:25:49,320 Speaker 1: you know what, anyone who rests on today's technology is 404 00:25:49,359 --> 00:25:53,440 Speaker 1: also probably in for an awakening at some point. Right, 405 00:25:53,480 --> 00:25:55,879 Speaker 1: You've got sure, you've got some of the incumbents. We 406 00:25:55,960 --> 00:26:00,000 Speaker 1: also got companies that are invested in the next general 407 00:26:00,560 --> 00:26:04,640 Speaker 1: beyond lithium ion right, companies like form Energy that are 408 00:26:04,640 --> 00:26:08,439 Speaker 1: now building fabs in the United States. So, you know, 409 00:26:08,560 --> 00:26:13,119 Speaker 1: I think this is a dynamic market. We've got ev penetration, 410 00:26:13,160 --> 00:26:17,200 Speaker 1: we've got momentum on it, but I think the lead 411 00:26:17,240 --> 00:26:20,200 Speaker 1: will change a bunch of times. And again we're running 412 00:26:20,240 --> 00:26:24,440 Speaker 1: faster and faster now. Domestic policies that we've talked about 413 00:26:24,480 --> 00:26:27,680 Speaker 1: a bunch of times only become effective if the rules 414 00:26:27,760 --> 00:26:31,880 Speaker 1: are in place. And one place where the Biden administration 415 00:26:32,520 --> 00:26:36,359 Speaker 1: can be fairly criticized is that rulemaking has been slow, 416 00:26:36,680 --> 00:26:40,880 Speaker 1: things like setting standards for tailpipe emissions, for power plants, 417 00:26:40,920 --> 00:26:45,080 Speaker 1: for methane. As we move into the second half of 418 00:26:45,119 --> 00:26:50,160 Speaker 1: this term, is there a renewed focus on making rules 419 00:26:50,600 --> 00:26:52,560 Speaker 1: and how are you going to deal with the legal 420 00:26:52,640 --> 00:26:57,000 Speaker 1: challenges that will inevitably come. So many thoughts on this, 421 00:26:57,359 --> 00:26:59,640 Speaker 1: but let me let me start with the day one 422 00:26:59,640 --> 00:27:03,120 Speaker 1: of the Biden administration. On day one of the Biden administration, 423 00:27:03,680 --> 00:27:08,080 Speaker 1: President sign executive order said, let's take on all of 424 00:27:08,200 --> 00:27:13,080 Speaker 1: the regulatory rollbacks that had taken place in the administration prior. 425 00:27:13,080 --> 00:27:17,479 Speaker 1: About two hundred items to take on. We did that. 426 00:27:19,040 --> 00:27:22,520 Speaker 1: He looked around the agencies that set these rules. A 427 00:27:22,560 --> 00:27:25,640 Speaker 1: lot of them had been decimated in terms of human capital, 428 00:27:26,080 --> 00:27:28,480 Speaker 1: some of them had stopped collecting the data that you 429 00:27:28,600 --> 00:27:32,200 Speaker 1: need to actually do the regulatory work. We've been doing 430 00:27:32,240 --> 00:27:35,639 Speaker 1: the work of rebuilding them. And at the same time, 431 00:27:36,359 --> 00:27:42,080 Speaker 1: we've set rules for hydroch folqarpments we've in the Obama administration, 432 00:27:42,720 --> 00:27:49,640 Speaker 1: they they set only standards for new sources of methane. 433 00:27:49,920 --> 00:27:53,680 Speaker 1: We propose standards for existing sources of methane. Our fuel 434 00:27:53,680 --> 00:27:57,719 Speaker 1: economy standards that we've finalized go further and faster than 435 00:27:57,840 --> 00:28:03,440 Speaker 1: anything anyone's ever done before. So and as I said, 436 00:28:03,560 --> 00:28:07,399 Speaker 1: over a hundred actions on energy efficiency through the Department 437 00:28:07,440 --> 00:28:13,000 Speaker 1: of Energy on the regulatory sign. So if the question is, hey, 438 00:28:13,160 --> 00:28:16,439 Speaker 1: you guys have been going really fast, really hard at 439 00:28:16,520 --> 00:28:19,440 Speaker 1: trying to seize the full economic opportunity that climate change 440 00:28:19,560 --> 00:28:21,560 Speaker 1: represents for the American people. Are you going to keep 441 00:28:21,600 --> 00:28:25,520 Speaker 1: running fast? The answer is no, We're going to run faster. 442 00:28:26,040 --> 00:28:29,800 Speaker 1: All right. Now, we are at COP twenty seven, and 443 00:28:29,880 --> 00:28:34,760 Speaker 1: we should talk about the questions being raised by developing 444 00:28:34,760 --> 00:28:37,720 Speaker 1: countries here at COP twenty seven, and there is a 445 00:28:37,800 --> 00:28:40,760 Speaker 1: domestic question that I want to ask you about it now. 446 00:28:40,800 --> 00:28:44,400 Speaker 1: To give you a context, yesterday was announced that the US, 447 00:28:44,720 --> 00:28:48,200 Speaker 1: through its Export Import Bank, is giving Romania three billion 448 00:28:48,200 --> 00:28:52,840 Speaker 1: dollars towards it's nine billion dollars of building two nuclear reactors. 449 00:28:53,720 --> 00:28:58,680 Speaker 1: That sum is approximately the amount that the US gives 450 00:28:58,880 --> 00:29:03,120 Speaker 1: in climate finance to developing countries. So when the US 451 00:29:03,160 --> 00:29:06,560 Speaker 1: comes here and does not show more money, that's not 452 00:29:06,640 --> 00:29:09,440 Speaker 1: really the case that there is no more money to 453 00:29:09,480 --> 00:29:14,280 Speaker 1: be given. It's that there isn't the political will. Your 454 00:29:14,360 --> 00:29:19,080 Speaker 1: job as a domestic national climate advisor is all also 455 00:29:19,120 --> 00:29:23,880 Speaker 1: to make sure that the president can have money from 456 00:29:23,880 --> 00:29:28,160 Speaker 1: the Congress to live up to the eleven billion dollars 457 00:29:28,200 --> 00:29:31,560 Speaker 1: that he has promised. How are you going to make 458 00:29:31,640 --> 00:29:38,800 Speaker 1: that happen? Number one? I think it's us recognizing that 459 00:29:38,880 --> 00:29:45,520 Speaker 1: we are in a shared challenge with folks all around 460 00:29:45,560 --> 00:29:51,640 Speaker 1: the world, and that we must take all of this 461 00:29:51,840 --> 00:29:56,520 Speaker 1: on together. And I think the place where we are 462 00:29:56,640 --> 00:30:00,840 Speaker 1: succeeding in doing that, you know, going into Paris something 463 00:30:01,000 --> 00:30:05,440 Speaker 1: like five six degrees coming into this administration something like 464 00:30:05,480 --> 00:30:10,280 Speaker 1: three degrees, coming out of Glasgow under two degrees. Now, finally, 465 00:30:10,320 --> 00:30:12,320 Speaker 1: I know you don't like to scoop your boss. He's 466 00:30:12,360 --> 00:30:16,440 Speaker 1: coming tomorrow. But if you were writing Biden's speech, what 467 00:30:16,560 --> 00:30:22,760 Speaker 1: would you say? That's that's a funny one. Uh, what 468 00:30:22,880 --> 00:30:31,600 Speaker 1: a hypothetical. Look, I you know, I think I think 469 00:30:31,640 --> 00:30:37,000 Speaker 1: for the President, it's important for him to convey where 470 00:30:37,000 --> 00:30:42,120 Speaker 1: all of this comes from. For him. I've been fortunate 471 00:30:42,200 --> 00:30:45,400 Speaker 1: enough to sit on the plane with him, sitting the 472 00:30:45,480 --> 00:30:48,160 Speaker 1: car with him, sitting the oval with him, and hear 473 00:30:48,280 --> 00:30:56,120 Speaker 1: an absorb his passion and where his focus on climate 474 00:30:56,200 --> 00:30:59,160 Speaker 1: comes from. And it's and it's totally in his core. 475 00:31:00,200 --> 00:31:02,480 Speaker 1: That's why it's gotten the prioritization that it's gotten in 476 00:31:02,480 --> 00:31:06,360 Speaker 1: this administration. I think that's a really important thing for 477 00:31:06,400 --> 00:31:09,840 Speaker 1: everyone to understand and for them to hear. I think 478 00:31:09,880 --> 00:31:15,720 Speaker 1: the second is for people to understand the progress we've made. 479 00:31:16,560 --> 00:31:20,760 Speaker 1: You know, the same folks who fed us denial and 480 00:31:20,920 --> 00:31:24,920 Speaker 1: delay now want to feed us cynicism. They want to 481 00:31:24,920 --> 00:31:28,000 Speaker 1: say that no matter how many people show up, no 482 00:31:28,040 --> 00:31:30,640 Speaker 1: matter how many people push, no matter how many meetings 483 00:31:30,680 --> 00:31:33,800 Speaker 1: we have, and how many agreements we reach, that we 484 00:31:33,840 --> 00:31:37,520 Speaker 1: won't make progress, but we are. And I think it's 485 00:31:37,520 --> 00:31:40,440 Speaker 1: important for the President of the United States to share 486 00:31:40,560 --> 00:31:44,520 Speaker 1: his perspective on that. And then the third is there's 487 00:31:44,560 --> 00:31:47,000 Speaker 1: a lot of talk about the headwinds to climate action 488 00:31:47,080 --> 00:31:52,840 Speaker 1: these days, right energy security, concerns, concerns around consumer costs. 489 00:31:53,640 --> 00:31:56,560 Speaker 1: I think what we've discovered in the United States is 490 00:31:56,600 --> 00:32:01,320 Speaker 1: that clean energy and the solutions around climate actually help 491 00:32:01,520 --> 00:32:05,160 Speaker 1: us not only meet the moment on this environmental objective, 492 00:32:05,600 --> 00:32:11,000 Speaker 1: but help consumers, help manufacturing, help our national security, help 493 00:32:11,080 --> 00:32:14,960 Speaker 1: our energy security. That's the case I think he should 494 00:32:15,000 --> 00:32:17,960 Speaker 1: make here and to all the leaders around the world, 495 00:32:18,280 --> 00:32:20,560 Speaker 1: And I think if they hear that and they understand it, 496 00:32:20,600 --> 00:32:24,600 Speaker 1: we will redouble our efforts collectively to move in the 497 00:32:24,600 --> 00:32:27,840 Speaker 1: direction we need to. Thank you, Elizadi, Thank you so much, 498 00:32:36,720 --> 00:32:38,920 Speaker 1: Thanks so much for listening to Zero. If you like 499 00:32:39,000 --> 00:32:42,240 Speaker 1: the show, please rate, review and subscribe, Tell a friend, 500 00:32:42,440 --> 00:32:46,080 Speaker 1: or tell Biden's speechwriter. If you've got a suggestion for 501 00:32:46,120 --> 00:32:48,440 Speaker 1: a gastra topic or something you just want us to 502 00:32:48,480 --> 00:32:51,320 Speaker 1: look into. Get in touch at zero Pod at bloomberg 503 00:32:51,400 --> 00:32:55,480 Speaker 1: dot net. Also, while at COP twenty seven, the Bloomberg 504 00:32:55,480 --> 00:32:59,520 Speaker 1: Green paywall is down. Head to bloombag dot com slash 505 00:32:59,560 --> 00:33:02,840 Speaker 1: green to read all our latest coverage and everything in 506 00:33:02,880 --> 00:33:07,080 Speaker 1: the archives for Absolutely Free. Zero's producer is Oscar Boyd 507 00:33:07,200 --> 00:33:10,840 Speaker 1: and senior producer is Christine driscoll. Our theme music is 508 00:33:10,880 --> 00:33:14,880 Speaker 1: composed by Wonderley Special thanks to Kirubin Grim and Stacy 509 00:33:14,920 --> 00:33:18,840 Speaker 1: walk I. Am Akshatrati back late this week with more 510 00:33:18,920 --> 00:33:19,960 Speaker 1: from COP twenty seven.