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Peter Head

Peter Head speaks at the Mansion House ... City of London ... embedded video and transcript

Burgess COMMENTARY

Peter Burgess

https://youtu.be/T753qtrBu5I

Published on Jun 4, 2014

People, planet, profit - a revolution in integrating global and local for a resilient future.

The third lecture in the Wax Chandlers' Company series is delivered by the internationally renewed environmental engineer and thought leader, professor Peter Head, who discusses how big data and advanced modelling can inform and test local decisions for the sustainable development of a city or a whole region.

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Peter Burgess 1 year ago This is one of the most inspiring visions for the future that I have ever heard. There has been incredible progress in the capabilities of technology since I trained in the City in the early 1960s, but the use of technology has been mainly for quite limited purposes ... Peter Head's vision is for technology to be used to the fullest for the benefit of everyone without doing damage to the planet. Brilliant. Peter Burgess - TrueValueMetrics Multi Dimension Impact Accounting

40:44 / 40:46 Peter Head speaks at the Mansion House City of London City of London Subscribe1,281 Add to Share More 928 views 2 0

Transcript English (Automatic Captions) 0:00long lord man master 0:11haldeman ladies and gentleman it is a huge 0:14on a to be invited to speak to you today I'd be looking forward to it 0:19just as long as we first discussed at about nine months ago 0:22and so here I am and I'm going to be able to present to you 0:27this evening presentation that 0:31no one in the world has ever seen before so it's 0:35quite a special moment so when am I gonna start 0:41we're basically going and going to start I just explaining that one 0:44I need to hold your feet to the fire a little bit 0:47on the problems that we're facing with some you I'm sure will be aware of 0:51but then I'm going to talk about what action is actually being taken around 0:56the world 0:57to deal with it and I would like to say the water 1:00we are doing in my trustees very much in the middle 1:04that and then I'm gonna talk about turning dater observatories in today to 1:10laboratories I'm gonna tell you how that notion 1:13came about and then going to go on and talk about how innovation in law finance 1:19accountancy 1:20building services all of those things can play a key role 1:24in transformational change which is what we need 1:28and I hope that I'll convince you that you could join the street 1:32journey and make a very big difference globally and so finally I'm going to 1:36talk about how 1:38the city four cities could maybe take off in a very practical way 1:42and I want to engage as many view as possible 1:45in the journey from to date so let me talk a little bit about growing 1:51global instability and there is an awful lot a bit 1:55and you've all experiences since 2008 1:58so let's go back to basics we we live 2:01in a in in solar system 2:04I where basically we get energy from the Sun 2:08we get bombarded with asteroids occasionally but basically it's fairly 2:12stable 2:13human activity fueled by the Industrial Revolution 2:17has grown the money supply and grozny exploitation resources 2:22very dramatically supported by the Bank of England in the county banks in the UK 2:27let this and is now being taken up by countries all over the world like China 2:32and basically what we're doing is destroying the ecology 2:36on the planet very systematically and we now know that human well-being will not 2:42go forward positively if we continue to do this so therefore we have to do 2:47something about 2:49bringing ecological systems into our purview 2:52of the way forward secondly as population has grown over the last 200 2:57years 2:58we hundred years ago we had about a text has a plan to support one person's life 3:04from 3:04planet and that is now gone down to two hectares 3:08factor for because the population is growing my factor for 3:12on aid fixed mountain land and we're living as if this 3:17hasn't happened so he have this very rapid change 3:21in China the amount of land and now using for development is 2.3 3:25hectares whereas in america is 9.5 3:29which is about four times the resources we actually have available 3:33now the urbanization process in China is growing that 2.3 3:39by 4 percent a year doesn't sound very much 3:42but if you multiply 4 percent by 1.3 billion people 3:46you'll find you need a hundred million hectares have new land every year to 3:51support the urbanization process and increasing consumption 3:56materials and food in China China is 3:59all over the world in Africa South America 4:02southeast asia trying to find those resources 4:06but as realize that this is not a sustainable way toward 4:10so if you think the Chinese economy can continue to grow in the ways has 4:15comment and China knows that it can't and has to find 4:19a new one also food production per capita 4:24is beginning to level of unease in some respects on average is now going down 4:29per capita because we sorta exhausted the ability to use for supplies 4:34and advanced agricultural techniques and manage water 4:38so actually we've got a real problem in food production to 4:42now you heard a lot about climate change in carbon emissions but did you know 4:46that the amount of carbon emissions 4:48we putting the atmosphere every year which is about six billion tons 4:53if you look at the natural carbon cycle 4:57up which is the combination what happens in forests and oceans and so on 5:01that's about two hundred billion tonnes which is cycled by the natural world 5:05every year so basically if we affect the $200 billion tons a year cycle 5:12then that's very very serious in relation to climate change 5:16and therefore we have to embrace a systems approach to understanding 5:21how to manage a with that but we know the cup 5:24the covenant dioxide emissions in the atmosphere is going up steadily 5:29and this year is you know it reach 400 parts per million is beginning to drop 5:33again because the growth 5:35for us in Northern Europe but it be back at four hundred 5:39by buying by the orchard 5:43and then of course we dick these resources are found to the ground we 5:47we manufacture things with them and we throw them away and we 5:50pollutes the air the soil and the water and again 5:54this is having a drastic effect on our health 5:57but also on the health ecological systems 6:01I've taken a few quotes from an IDM paper 6:04on some of these problems the war the water energy food crisis 6:09the mounting costs of health the the number of people old people that need to 6:14be taken care of 6:15as we successfully live longer the fact that a hundred eighty thousand people a 6:20day are moving to cities all over the world and cities are 6:24subject to relieve Island increasingly violent storms and problems 6:29which is why resilience is so important 6:33so basically wat is the world's doing about this because 6:37there's an awful lot of people in the know all this stuff so what are we gonna 6:40do about it and what are we doing about it 6:43well the first thing that's happening is the United Nations set up something 6:47called the Sustainable Development Solutions Network 6:50which is led by Jess sacks out at Columbia University's 6:53in the States and this has provided technical support to the development as 6:59a sustainable development goals that will replace 7:02the Millennium Development Goals towards the end of 2015 7:07and the process which I personally been involved in relation to cities has 7:11involved 7:12top scientists engineers finances from all over the world 7:16and we've now got to a point where there are 10 7:20Sustainable Development Goal targets which are being debated and discussed 7:24and will the eventually agreed by the United Nations towards the end of next 7:28year 7:29as the goals for the world to go forward and these goals do address 7:34all other things but I just talked about and so there is an attempt to create a 7:39holistic 7:40set up goals which will enable us to start thinking about what to do 7:44but then how to the actually do it 7:47China I would say is ahead of the world in understanding these problems 7:51so when the new president came into power the first thing he did was change 7:55the legal Constitution 7:57in China to now require a scientific approach to development 8:02and also to make ecological progress this is now a legal requirement 8:07what developments in China in parallel with that 8:11date now set up environmental courts as I'm sure the lawyers will 8:15Morneau and also they just average to a circular economy 8:18the war because they recognize that recycling and reusing materials is going 8:23to be fundamental 8:25to their ability to look after human well-being 8:28as more and more people move two cities 8:32now the other thing that China has been doing is reforest ng 8:36itself and through agroforestry 8:39and the one of the reasons why I called my trust the ecological sequestration 8:44trust was being completely inspired 8:47by what china's down in the open the splash 8:51where some 20,000 square kilometers has been re forested 8:55with angry forest by local people 8:58doing this for themselves with help from the World Bank 9:02and this area is now I rather large Shin on 9:05and virgins and productive area 9:08where people have a lot more income up to support themselves 9:13and in a minute you'll see my own need be in tonight's presentation 9:17because be so now flourishing Minneapolis nicer 9:20in an area that was completely dead 9:23and so visa course really important 9:27to our future and these reforestation projects 9:31our way of demonstrating that we can substantially 9:34influence the development path if we 9:38developed ecological systems alongside 9:41the the built-in armed now mckinsey did an excellent 9:45report for the MacArthur Ella MacArthur Foundation on the circular economy 9:51and there are now 100 companies being asked to sign up to the other MacArthur 9:55Foundation 9:56campaign and this report does show the 10:00business opportunities that lie in a circular economy system 10:04which is pretty essential essential to solving these problems 10:09and one other things the report did was sent out very clearly the innovative 10:13business models that 10:14than a necessary to not make this happen and that is moving from selling things 10:19in building things to selling services 10:22for for for people and to have 10:25performance-based procurement and delivery systems 10:29which actually means youre paid for the the outcome of the things you build 10:33rather than actually building a low-cost 10:37entity and they also flagged up the fact that crossed cycle cross-sectoral 10:42collaboration was essential for those 10:44for this to work the transparency is necessary for those who view in 10:48accountancy 10:49and that financing and risk management approach was critical 10:54to delivering these outcomes and finally education was a key component 10:59so I've taken all these issues and trying to invade them 11:02in a practical way forward which the world can use 11:06when we're designing buildings we need to design them so the end of their life 11:10the raw materials can be recycled 11:12they can be reconditioned they can be reused and and soul 11:17and this should be part all every design Commission 11:21for the built environment we have 11:24so this is all about resource efficiency of of closed-loop systems 11:28and it's about food it's about raw materials it's about water 11:33and it's about energy we know 11:37from experience and you can see this from the leadership cities all over the 11:40world 11:41that doing this ass a regional scale is the only way we're actually going to 11:45deliver this transformation process 11:48it's almost impossible to do is it a national scale 11:51so it's a regional scale we need to bring together an understanding averages 11:55all systems and flows 11:57we need to find ways so that show the tracing scenarios 12:01to test future opportunities and to measure 12:04the economic the social environmental benefits 12:08of complete systems change and this is really 12:12the big issues that I been trying to tackle 12:15with a wonderful team so now imagine 12:19and this is where we're trying to get imagine a website 12:22where you have a spinning the work on this website you can select any region 12:27on the planet 12:29and you can select your region and/or redline rounded 12:34and up comes a form where you can fill in the license application 12:38and this could be the Lett in Northampton way 12:41you can fill in the application form you can get a loan 12:44and then you can download from the clan old a 12:48an integrated systems platform to enable you to start planning your region 12:53you know in a way which is productive and I'll return to this at the end but 12:57those have you in business can have abs 12:59on this platform so you can sell your value added services 13:03so the region's download this plot 13:07so here is the platform here is the integrated systems platform model 13:12where everything under the ground is the everything at ground level is there the 13:16ecology is a 13:18the movement to people is the resource flows can be modeled 13:23and basically you can begin to plan interventions which integrate 13:27his and understand the benefit 13:31bringing ecology forward and the boundary condition 13:35you can connect to a global systems platform 13:39now how is this possible how is am I able to stand here today 13:44and say that this is now a doable proposition 13:48well this is one of the critical reasons why 13:51do it and that's birth observation 13:54systems and no soap situation days 13:57we now have satellites circling the Earth that provide 14:01both medium and high resolution data 14:04for every piece of land on the planet 14:07as a group for a young people in California 14:11just launched twenty six satellites from your phone survey Shin Center 14:15that will photograph every piece of land on earth every day 14:19and provide that information for use on the planet 14:24at the same time we can then build digital this models 14:27to enable us to understand the earth systems 14:31and at the same time we can build digital models 14:34of region that we chosen from the website 14:38a with 3d visualization we can connect them up 14:41and the region can understand the impact of changes in climate 14:45and we can move forward 14:49so in the last three years I formed the 14:52fantastic partnership with Pope bishop who sitting in the middle of the 14:56audience there 14:57who is gracing the International center for assimilation 15:02and both vision was very similar to mine on mine was to develop a 15:05regional simulator bob's idea was to build enough simulator 15:10and we're going to make these platforms talk to each other 15:13going forward and we're going to call our region simulator resilience 15:18talked hi who and that will be the website 15:22now how is it possible to connect you as businesses 15:25and communities so this regional plot 15:29his another IBM slide over the last twenty years the world has deployed a 15:34global 15:34high-bandwidth network created a population of over one billion 15:39internet users and a population of some six billion mobile telephones which a 15:45growing 15:45time and weed in bed billions a census in our environment and infrastructure 15:50so we can have ground-based sensors talking to a platform 15:54as well as digital earth observation coming down 15:58so basically it is possible partly because of the computing capacity 16:05that we're now able to mobilize from integrated systems 16:09computing and this again it's something the pope this ship is a world leader 16:14in understanding the potential that 16:17that means we can connect up people enough for the others 16:20in rio the the communities in deprived parts of the UK 16:25and they can stop providing crown de ser a 16:28into the platform and start building a trusted 16:32collaborative platform that we can start 16:35doing planning an integrated think together 16:39business community public sector communities 16:43all working together around a prep practical platform 16:47but the the big innovation the trust has brought 16:51is the ability to create a systems model 16:54that connects human systems ecological systems in economics 16:59for the first time and this is really the big innovation everything I showed 17:03you so far 17:04is here and now what we're doing is creating a systems platform 17:09that enables those people in the further to be part of an integrated systems 17:13model 17:14the city to enable us to understand the value the ecology 17:18to human well-being the value of resource efficiency 17:22so the overall record economics of the city for the first time 17:26so how have I been able to bring people together to do that 17:30what I did was I targeted the world's leading modelers 17:34each of the components that the necessary to do this 17:37and that's Imperial College with the Sin City model that was created 17:41with BP funding about five years ago for 17:45resource systems cities the 17:48the European institutions forestry is forestry model which the European Union 17:53invested some 17:5430 or 40 million euros and Tracy 17:57the profile so agricultural model 18:00the soils which was treated at Lund University in Sweden 18:04and most important of all the only economists that I could find in the 18:08world to understand that stood how to connect 18:10human value to economics which is the 18:14Institute for integrated economics research in Zurich 18:18who are absolutely fundamentally important the ability to establish such 18:22a new approach 18:24so here we have a platform and we can pull in the 18:27systems data from Bob's a simulator 18:31we can pull in earth observation data into the land plane 18:35to enable us to see what's going on in ecology and human development 18:39we can crowdsource mobility data from mobile firms 18:43and and other day so that people put into the system 18:46the motor will actually calculate the resources that come from 18:50human and ecological systems 18:53this is nothing special about us the ecology looses 18:57resources around just like we do and we need to understand how it all integrates 19:01together and the platform will deliver that and then finally we can plug and 19:06play the utility systems 19:083230 companies got their existing models they can be plugged into the platform 19:13if they don't they can build their own models to show how the resources 19:17flowing and how if we develop we might need some more of those things 19:21so basically is a city in Manchester so in the city at Manchester 19:25if we decide to build a high-speed rail inspector police station 19:29and improve the the Metra metro lines 19:32we can understand the economic value increased creasing 19:35density a development ground stations and we can understand the economic value 19:39putting green trees in the streets 19:42but the Metro is running those are two practical examples of what this platform 19:46do in relation to improving city life 19:50in my time in our I ask people all over the world how much money was invested in 19:55Hong Kong and Singapore and Dubai 19:57in Upper Darby in metros as a percentage of GDP 20:01and what I discovered on average is that cities it invests $1 per cent of GDP a 20:06year in metros 20:07actually have a great metro system after twenty years 20:111 percent of GDP now nobody knows this what we need is platforms that enable 20:15peace to understand the connection 20:18between investment at that level in tracing a city that's that 20:23human well-being in the future and I i believe we need 20:27up to understand so then we come to the city is so 20:31now the mayor of the city is Seoul had the vision 20:35to believe the economics at the city would improve if he took the road out 20:39and replaced it with the river so that people could walk and cycle from the 20:43edge of the city 20:44into the center with the air quality will be better the football and shop 20:48should be higher 20:49and it was inclusion project where where people who didn't have jobs could find 20:54jobs in the city centre 20:55this was a fantastic economic success soul 20:59but he didn't have any tools to prove it until afterwards 21:02what I want cities to do is to have the tools to understand 21:06that this is the way we can develop well-being in cities for the future 21:11so here is my story one other cities we were targeting 21:15was in India and we decided to target the city's 21:20to rats to put the platform into and we had a wonderful workshop in the city of 21:25surat 21:25with with the communities and the city of surat 21:29cuts and polishes eighty percent 80 percent 21:33all the world's small don's why 21:36is that why is a city in India nobody's ever heard of cutting and polishing 21:40eighty percent 21:42as the world's times so the into the workshop they said you must come to a 21:46diamond factory 21:47and find out what this is about I've no idea what the diamond factory was 21:52what it was a certain morton eight-story office block 21:56him which two-and-a-half thousand people working 22:00with a little work stations no bigger than this this 22:03what's in front here and the first process it happened was a rock came in 22:07there and somebody did a radar survey 22:10and an x-ray love it and produced a three-dimensional diagram 22:14the rock which you can see top right and then they got the 22:18diamond shapes from the library and they were positioning three-dimensional Don 22:22switch in just about a captain picture into this rock 22:26to enable them to maximize the amount diamonds 22:29could come out so they're in a position where the the 22:32the laser cutting machine and the next cycle with then cut them out 22:36and then the facets would be polished each of these processes hat 22:417 villages competing to do this most effectively 22:45and every day the Sedin people from the seven villages were competing to 22:49maximize the value 22:50out if every process and the people were not paid a salary though 22:55they were told that if they work to the age of 35 they would get 22:59house and a car the money they earn would go back to the village in 23:03given accommodation that is now 23:06Surat cuts and polishes eighty percent to the world's times 23:10so when I've been around us I thought to myself 23:13what thesis about human nature 23:16you know what is going on here we went up to the top of the building 23:20knows a big picture window nice looking out over the city 23:23and I I thought to myself what is it about this 23:26value proposition striven something I suddenly realized than it should have 23:30hit me 23:31and I think 12 people in this room probably remember that moment and said 23:34what's up with you 23:36and I said I suddenly realized the the reason for this is the stands have a 23:40very clear global value 23:42everybody knows diamonds worth so we know it 23:45exactly how to optimize this business to to continue to make money 23:50with people working in villages all over India and I looked out over the city and 23:54I suddenly realized that if we had a three-dimensional digital model the city 23:59with all the resorts lies in it we could then come polish the city 24:03and if we understood the value that comes out 24:07will be two thousand people in buildings in every city in the world cutting and 24:10polishing cities 24:12to Craven school the human rights 24:15and and for me this is what it's about it's about creating a platform that 24:19connects 24:20human value directly to all the decisions that are taken in Apple's 24:24environment every day 24:26and it's unbelievable that the human race's got to this point in human 24:29development without ever having it when you consider we have models /a 24:33bodies have models /a just about everything you can imagine 24:36we haven't bothered to really focus on the built environment 24:39and the way we did so basically that 24:43if we can work out the value to business the value to society 24:46improving energy water and food security cleaner air 24:50better quality of life there will be two thousand people in buildings 24:54all over us cities all over the world cutting and polishing them 24:58they probably come from Arab from a calm for wherever it doesn't matter where 25:01they come from 25:02but that's what will happen if we get this right 25:06and so is he a nose I I then moved into a process in 25:10in India talking to the Chamber of Commerce about this 25:14and immediately they said what we need is a collaborative environment in which 25:18to do that 25:19which is exactly what's happening in the Don factory 25:23so we need to bring communities public-sector and private-sector 25:25together 25:27to manage such a platform and and it was very clear very quickly that this will 25:32create collaborative intelligence 25:34so the individual sectors a very very intelligent and very clever 25:38but if we can work together in a collaborative way around value 25:41we can probably lift human intelligence to a level which is 25:4420 30 50 times higher than it is at the moment 25:49and i genuinely believe that is possible through this process 25:52because we've never done it tonight experience some 25:55collaborative design processes in arab where we saw that happen 26:00it's also very important that education is part of this so we working with 26:05in you and and other companies to develop MOOCs 26:09back can be used all over the world to to provide MBA's full 26:13businesses to use this platform in a way that 26:16maximizes the future benefits so we won't have online 26:20teaching education programs link to using the plot 26:24now in Europe if you don't know this 26:27there is program today so called inspire 26:31all all governments in Europe right now layering date 26:34into I'm into platforms by law 26:38to bring social economic and environmental data into 26:42common use the Netherlands has done this way ahead of other countries 26:48it is happening in the UK and this this platform you're seeing here is an 26:52operational use in the Netherlands the City Planning 26:55using all the layers of data in the Inspire 26:58database and Nationstar database covers chill the G 27:02covers water bodies seat covers land use it covers the built environment 27:06it covers social and economic parameters and we are building these data bases in 27:11the UK 27:12but do we have any way to use them we don't 27:16so basically what we are doing is and it 27:20this existing capability in Holland 27:23the ability to and social and economic outcomes 27:27to testing different built environment design problems 27:31and I hope you can see from this video if you and the social economic 27:35dimensions into this 27:37tests help powerful ad design approach could be 27:40in the future and how important a three-dimensional 27:45visualization technology is to enable this to be done 27:50so hearted this process will in a sense the assorted 27:53gaming tool a bit like a three-dimensional gaming tool 27:57that designers and investors and financial experts and lawyers 28:02use to to improve the built environment 28:06and so this is very much what we can imagine 28:10now what is the key Lincoln the economics model 28:13between ecology and human well-being 28:16it is basically the fact that if we improve the air quality 28:20water quality soil quality and nutrition 28:24human health will improve health costs 28:27will go down which means that the burden of health costs on the economy reduce 28:32and human productivity goes up 28:35we know these things so why are we taking this into account 28:38so this platform will make those connections throughout the rhythms 28:42and at the same time will give an opportunity to look at the skills that 28:46are needed in the future 28:48for the investments with plan so we can have actually 28:51make sure that people are trained ready to take up the jobs in the future 28:55to their the expected to happen and and for example 28:59in terms a resource efficiency by improving resource efficiency money can 29:04be freed up for training 29:05money can be freed up to have more people working 29:09in in a particular scenario rather than less people 29:13because we're not spending as much money on resources in ways that we didn't need 29:19the other important point is cultural roots 29:22in cultural planning II know from my experience in our 29:26these people are facing big change 29:30but they often object to it because %uh Velocette memory 29:33both the past so what we need to do in the platform is to build the cultural 29:38history 29:39of the place in the past which you gradually been doing in the city 29:42London so that actually as people look forward taken 29:45they know that the platform contains the history of the past 29:49and they're more interested in the journey into the future 29:52and and programs like the London Leaders program which I was involved in kicking 29:56off 29:57in in in the Sustainable Development Commission in London 30:00always have engaged in communities with the salsa programs and i've also set up 30:04a culture futures programme globally 30:07which is shown that this is a very exciting prospect all around the world 30:11in China they are building a cultural recalled 30:15not just the human developments but also the way the natural world has a gold 30:20over history so these are the UNESCO sites in China where they developing a 30:25recalled of the cultural history those sites 30:29and even the natural history of those sites and the way to the hills where 30:33Roddick by rain 30:34so the people have a cultural history where we've come from 30:38to understand better how the natural environment might be affected 30:42future so with witnesses 30:46bring you in those be who are lawyers those you be in finance those you 30:50insurance and services 30:53in accountancy and soul how do we draw you into this 30:57well basically no hope for you got the idea that this platform 31:00could be in use in many places around the world and I'll show you where we're 31:04going to demonstrate it 31:06in a moment but the next big point is about procurement 31:10now many view will be thinking more like this is all very well but how do we 31:14procure to maximize social economic 31:17and environment outcomes because in the past week on furlough is first costs 31:21which tends to squeeze out the social and environmental benefits 31:25this platform will be a procurement platform 31:28to enable you to test in a competitive environment 31:32different interventions infrastructure buildings and so on 31:37to look at the social economic and environmental outcomes and actually 31:41procure 31:41a games demonstrating those outcomes in the platform 31:45and in demonstrating them in real life going forward 31:49and that is the transformational change that we need 31:52in water to make this happen unless we link this to finance and procurement 31:57it it's a date down so basically the platform will be set up 32:02to do this and that means therefore that in talking to pension funds and talking 32:07to multinational banks 32:08and talking to people who want to put their money into patient capital 32:13investments 32:14this platform can be used by local people to create 32:19future projects that will enable them to be financed 32:22by patient capital and make them 32:25bridge that terrible divide at the moment between good projects 32:30and and the very large amount capital is available in the world 32:34and the capital can then be assembled into a region investment fund 32:38which can be a portfolio cleantech all 32:41I'm climate adaptation funding social impact bonds and many other things 32:47and they can then be drawn down into projects 32:50and the region will know that they will not get that money 32:53and Nestor use the platform to actually 32:56design temperature those projects 33:00and that means the platform itself can be funded out over one percent 33:04levy on the capital flows to the traits in the region 33:08to enable the region to move towards high quality inclusive 33:12resilient brogues and that basically is the business model for setting this 33:16platform up 33:18and enabling it to be sustainable in the region and to be improved 33:22and developed going forward and I have to say I have spoken to 33:26to the World Bank I've spoken to the Asian Development Bank 33:29and they are both extremely interested in this 33:33in this approach and and we will be certainly working 33:37now for those who you in the insurance sector of course we know we're facing 33:42these 33:42increasingly extreme events and of course we heard yesterday from the Met 33:46Office and UK 33:48how we're going to face increasing numbers 33:51and intensity of bad weather 33:55now love this has is is currently being addressed by 33:59those view in the insurance sector and what we've been able to do thanks to the 34:04leadership 34:05love the willis Group we've been able to come together with the Oasis 34:09catastrophic risk modeling framework and we now are going to design a connection 34:14between Oasis risk modeling framework 34:18and the digital regional platform and 34:21boobs conservation a 34:24assimilation plan for and by doing that we will enable 34:29insurance products to be thought about to be brought to developing countries 34:34regions with an evidence based platform 34:37to enable those products to be more securely 34:40developed and taken forward and so this should deal with one of the big problems 34:46at the World Bank and others are worried about 34:49these increasing climate risks may overwhelm us 34:53and certainly overwhelm national government seated and access to 34:56regional weather local insurance so we're on the started the journey 35:01but but I do believe genuinely that it's going to be able to make this connection 35:04work 35:06and we're going to be working on nasa next year 35:09so how do we scale this up have what's the process for scaling up 35:14well basically we come up with the idea of a revolving fund 35:17there are people willing to put money into building the platform 35:20and that includes defeated the the UK from 35:24aids program way a in the process and negotiating with the climactic 35:29European climactic negotiation the European Space Agency 35:33the Chinese government and multinational banks 35:37to build the platform so I think we'll be able to build the platform 35:40so how do we get it into as many cities as possible to enable them to take 35:44advantage of that 35:45so the idea is to provide a loan facility from revolving fund 35:50and the loan will be made available so that this platform could be set up in a 35:54new any region of the world 35:55and everyone will be able to use the platform locally free 35:59and the the model I talked about earlier will pay for the data 36:03to the capital flight that comes through and basically the region just has to 36:08agree to pay the money back pay the loan back of two six or seven years 36:12by which time this will this platform should have yielded 36:15really substantial public-private investment 36:18funding into good projects and this amount money will be fairly small be a 36:23I have got the the interest in agreement 36:26the number I've large organizations in the world 36:29willing to set up such accelerate to scale up funds 36:32so for example in china this could get into 500 cities 36:361000 cities really quickly to enable them to 36:40move forward in a better way so where do you come in 36:44well basically this is the current 36:47setup about demonstrator progress 36:52all of these places wherein active discussions about setting up 36:56demonstrations 36:57demonstrations of this platform I'm a very practical person I believe this has 37:01got to be demonstrated got to be very practical Scott 37:04be able to be used and the in China were making a lot of progress 37:09with the with a project in the city its engine 37:12we're making a lot of progress at the Mongolian government with diff it will 37:16be taking this 37:17a platform in into Africa a 37:20way a talking to the mara 30 about putting the platform into Rio 37:25head of the 2016 Olympic Games 37:29and we have a region of the UK 37:32which is the Dorset local enterprise partnership where we doing a feasibility 37:35study 37:37to test this in Dorset now the reason for that is that everyone says 37:41where you doing this at home and 37:44I talked to six local enterprise partnerships Dorset 37:48expressed an interest so we we have the opportunity 37:52to do that so basically where you come in 37:56is that this platform requires user 37:59interfaces cockpit as we call them that need designing 38:03so we knew cockpit for insurance when your cock pit for accountancy we need a 38:06cockpit for 38:08setting up region investment funds when the cop it's a building services and 38:12some 38:13I would like you to come together in the city to actually be a partner in taking 38:18this platform forward 38:19to help build the cockpits with some of your own expertise 38:23and if you're interested to create aP's sit on the platform so your services 38:28can be sold as part of a connection to the platform 38:32if people are willing to to pay for them I 38:35so those are the two areas i'd like to involve you in 38:38so basically you can help with all those processes 38:42and I would like you to think about this as an opportunity 38:45similar to the industrial revolution this 38:49the amount of money that will be spent on taking the world to a sustainable 38:53place in 2050 38:55is between three and seven trillion 38:58dollars and this is the market 39:01that this platform could provide access for you to 39:06and I will offer this platform to the City of London 39:09as a as a platform for the City of London to support the world 39:14to a better place in 2015 offer that because the FEA 39:18because it was feeling is vision at the beginning of the year 39:21the said this is what I want the city to do so I'm here because if you see a 39:26and the basically that is the offer 39:29that's on the table to you so basically 39:33modeling cities will be possible with the platform 39:37connecting it to the regional adds to the 39:40global model with possible with the platform and 39:44that general connection should enable the world to move to those 39:48more sustainable place through collaboration 39:52this is started the journey we doing is trying to facilitate 39:56to start over the journey that i genuinely believe it's possible 40:00all the nuts and bolts are doing this are in place a lot of the funding is 40:04coming through 40:06but work I would like to do what I would love to do 40:09is to take fee owners 40:12legacy forward for vision 40:16and to work with as many organizations in the city London 40:19to make this possible because you have 40:22the intellectual capability the capital 40:25the the skills to take the world to a sustainable place in 2050 40:3010 do and and I would love 40:33you to be possible the gym thank you