Na koutou tena koutou tena tātou katoa no mai haere mai. Hello everybody and welcome to the EHF Impact Springboard, leading innovation for global impact. In this session we are going to be exploring together emerging models, regenerative and blended finance. So get comfortable because it will be a great one for the next hour. My name is Michelle Parker and I am Head of Fellowship Experience at the Edmund Hillary Fellowship. We will open the session with a karakia. So it's wonderful to have all of you here with us. We have a mix of people from all over the world and Aotearoa New Zealand with people from public and private sector, the innovation ecosystem and of course our Edmund Hillary Fellows who it's always lovely to see online. These sessions here have been running over four days this week and with the purpose of connecting Aotearoa New Zealand with our EHF Fellows, Hillary Laureates and more key leaders around critical challenges and opportunities for Aotearoa New Zealand. So we have a panel of three incredible EHF Fellows and they will each have a moment to provide some of their insights on this topic and then open up for Q&A afterwards. And I will hand over to our panel moderator for today who is Rosalie, our CEO for the Hillary Institute and the Edmund Hillary Fellowship Kia ora Rosalie. Look thank you all so much for joining us from all over the world for this important discussion on regenerative and blended finance and this is the sharing of a new initiative from Edmund Hillary Fellows, a climate impact fund for Asia Pacific Islands for communitarian projects. Now for those of you that may not be so familiar with the Edmund Hillary Fellowship we are a community of over 500 innovators, entrepreneurs and investors who are committed to Aotearoa New Zealand as a base camp for global impact and we are joined I'm just so delighted to be able to introduce our three speakers today. We have Satya Dontan Seti, Vishal Chhada and Sid Dalekar and I was trying to practice beforehand, haven't quite got those right yet, who are part of a group of fellows who are absolutely passionate about bringing new models of collaboration and finance to drive systems change with a real focus on climate action. Just one thing to stress this is very much a new initiative so the desire here is to share the initial thinking and to invite participation and support to continue to shape this project.  Regenerative finance might be defined as an alternative financial system that promotes and restores environmental social and financial stability alongside monetary gains and it's often using innovative technologies and tools and sometimes with the pride in the era of cryptocurrency. Blended finance combines concessional finance in other words loans that are extended on more general terms than market loans and alongside commercial funding and what it effectively allows investors to do is to choose different risk tolerances while all are participating in the same project. What I'm going to do is introduce each speaker in turn who will share their particular aspect of the project and then we'll open up for questions from the floor and please don't hesitate to ask if we do inadvertently slip into jargon through this process. Look to share the big idea and how it came about. I want to invite Sanya Dontan Seti. He's a quantum entrepreneur and he's had over 30 years as an entrepreneur primarily dedicated to clean energy and renewables having commenced with a short stint in the oil and gas industry. Sacha was driven by climate change imperatives and he found incubation support from the World Bank under the Volto-Voltaic Market Transformation Initiative in 2000 much before solar became mainstream. So Sid I'll hand over to you to Kegel. Thank you Rosalie. Greetings from India and namaste. Firstly thanks to EHF for organizing it at a better time. I'm not at my screen at 5.30 in the morning which is usually the case for EHF sessions and then I also want to express my gratitude for being part of this fellowship. I have met some wonderful people as a part of this fellowship and here what we are trying to do I will explain and basically we have put together what amazing fellows doing incredible things and here the idea is connecting them all together and this started with EHF in early 2023 embarking on a new expedition and setting climate innovation as the first grand challenge and to solve the systemic climate challenges in New Zealand and the Pacific through radical collaborations. This was inspiring and I was excited. This is New Zealand's destiny this is EHF destiny and my destiny all together. So what is the big idea? What is climate fund? It's a climate impact fund which has New Zealand as a base camp inspired by Sir Edmund Hillary. The fund will focus on the island nations of Asia Pacific that are most vulnerable to climate change and there are several barriers to providing climate finance for these countries. We will invest across climate mitigation, adaptation, regenerative agriculture and oceans. We championed communitarian climate projects backed by on-chain social fabric with a game-changing impact hive model by Andrew Hivot and community focused neighborhoods web 3 platform by Sid and we are purpose driven using blended concessional finance which combines public private philanthropic funds for achieving SDGs and climate action. Now that sounds a lot and we will unpack it in the next 15 minutes for you. Don't worry. So how did this all come about? You know as I was saying we started with our welcome experience and there that is where we learned the indigenous wisdom of Maori. It was Maikiri who explained the Maori creation story and then I realized what is the deep connect and kinship they have with nature and you know we came to know about Teau Maori and Kaitia Kitanga stewardship of land and oceans. So with that and meeting these incredible people I was there, Sid is there, Andrew. So you know in this after the welcome experience we had a session in the BNZ center in Wellington and that's where Andrew introduced about the little about the impact hive. We'll talk about it later but he talked about raising funds from philanthropic sources for you know the mission studio which was launched by EHF and he had done that for a hundred million dollar SDG impact fund and this was exciting. So next significant yeah so after this just like you know World Bank was having a climate innovation conference called innovate for climate in Bilbao. Spain is the anti-pod of New Zealand right across the earth on the other side. So yeah this was you know good to go there and connect and I wanted to see about organizing a similar climate innovation conference in New Zealand. So the fellow you see here is my friend in Bilbao. He has an incredible project he's made a bicycle with wood composites from the Basque Forest and thanks to my visit there he is now collaborating with a Kiwi company Kiwi Fiber and making a bicycle wheel rim out of Harakiki. So I think I owe it to Mark Bregman for talking about biocomposites and their potential so this collaboration came that way and I attended the IFC session on blended finance. So that was where I connected with my old friends in IFC you see Vikram Wich there he funded me from IFC more than 25 years ago and what I got for my project photovoltaic market transformation initiative that was also blended finance in those days. So this was you know so exciting that they are using blended finance in a limited way for country funds and I was excited I was sharing these screens by WhatsApp to Andrew Huwit that and connecting it with the model that he proposed with donor advice funds we will talk about that later more. Next was the Seats Impact Conference by Stephen Moe. This is where you got all the co-conspirators together Rosalie and here my think you know thoughts were synthesized and the theme of the conference really resonated with me if you want to go fast go alone if you want to go far go together and then we know about COP and Paris Agreement and then you know the climate finance that is required for the Pacific but we don't know our way around the Pacific we don't have a Vaka and that's where we have a wayfinding strategist in our fellowship and Pomina gave the support and you know agreed to be part of the team and there was also it was also very encouraging to get the collaboration from Kaimeri done. So next you know Sid was doing this project in Sri Lanka he will Neighborhoods Foundation is our anchor for the proposed idea of Climap Fund. Sid will talk about neighborhoods but let me say one thing about Sid some things that not many people know Sid is from MBA from a topmost institute in India and he was an options trader but post 2008 financial crisis Sid quit it all and then went to Gandhi's ashram in Sabarmati very close to his alma mater and he talked himself and he vowed to build a new global financial system that will support community led projects and that was very inspiring and Sid was Sid and I were sharing rooms in during the welcome experience so you know Sid will talk more about it. So he is in this new avatar after being an options trader and looks like Gandhi's philosophy has imbibed in him and you know so we will you will hear more about that and again briefly about Andrews efforts he has been working on the impact high model which I feel is very ideal fit for EHF and the impact high model basically you bring these experts investors and innovators together and you know create true synergies which help solve complex problems and he has been working on this from 2017 and more particularly in the last three years and he is a real game changer so we will talk more about that later. So then you know there was an opportunity for an RFP from MFAT in October November Amy brought that to our attention but we could not participate in that because of lack of time and then came along this you know opportunity from climate policy initiative the global innovation lab for climate finance looking at new models and all these things which happened over a year it got connected and then you know the idea came about it's like since we are talking about Pacific it was like stringing the Pacific pearls together and then we you know developed the idea of a climate fund and now Vishal will talk a little bit about the fund design. Great thank you Satya and look at so it's always so encouraging to see the way that all of these different points of interconnection have come together and really catalyse something so look to talk about the climate from climate fund preliminary design and to really think about what this could look like we're joined by Vishal Chhada so Vishal's been an investor and advisor in early stage startups for the last decade in India and in New Zealand and he's absolutely passionate about leveraging technology for impact and to solve some of the hard problems that the world faces he's been a two-times entrepreneur he co-founded a technology company in India and has run several board mandates including being on a board that successfully led an IPO in 2019 he did spend the first two decades of his career in operating roles in consumer and consumer technology companies and now regularly works with public institutions and universities on these startup programs Vishal thank you. Yeah thanks Rosalie and Kiwra everyone thanks for coming to the session so lovely to see all familiar and new faces just a quick personal note my side as well ever since I came to the fellowship back in 2020 I've been sort of hugely inspired by seeing several fellows chipping away on the climate agenda and I'm new to this mission but I've been inspired enough you know to think how I can possibly bring in my own skills and background in venture building to do more around climate action and I guess one of the most significant inspirations in the recent months was being part of the climate action group and seeing everyone collaborate there and particularly Satya with his infectious energy and stubborn optimism almost in pushing for CPI lab participation and wider climate action in the fellowships and I genuinely feel that what we are trying here could be I want to say a great template for more action bias in the fellowship on several of the impact goals that we might be passionate about so yeah with that little thank you from my side just jumping into the slide said if you can go to the next one this is just to contextualize the climate initiative a bit more for all of you I don't want to go too much into the weeds on the numbers and jargon but just bear with me we all know COP28 finished recently and one of the high level expert groups with backgrounds in economics international finance banking was tasked with this idea of assessing how financial systems and models really need to change to deliver on the Paris agreement and what you see here on the right hand side is a report but really the headline was and you know we can put the report in the show notes for those who might be interested that emerging markets and developing countries need something like a 4x from where they are as far as current climate finance into these countries is concerned from a 600 billion dollar it's almost like a 2.4 trillion dollars that's needed and that's a steep ask by itself and see if you go to the next one just to peel that a little further blended finance has emerged as possibly the scarcest and the most you know vital component in this incremental that's needed it's just not a key component but it's also a component that needs to grow at the fastest pace in the next five to six years and that sort of reinforced are you know thinking around stakeholders need to work harder on the whole concept of blended finance and like me if some of you are new to this term Rosalie spoke about blended finance a bit but on the next slide just to explain the concept in a bit more detail it's essentially a way to create models that allow development funding and private capital to participate in the same goals where development finance is operating on concessional rates sometimes using philanthropy or grant money and private capital is actually on market or near market rate of return expectations but I think the most important thing that emerged out of that work that the experts did and what everyone is hearing is that the institutions that matter beat the countries the private sector the mdbs donors philanthropists they all need to sort of collaborate much harder much deeper no one can just do it alone and there's a serious need to sort of align goals motivations and incentives in the right blending and frankly that requires a lot of fresh thinking a lot of innovation using technology using new structures on how value is measured how impact is tracked what's the governance behind all this and to really ensure there's equitable outcomes for all the actors who are involved and this is frankly where the penny dropped for us you know when we used to be discussing about these ideas and the second peg for climate really came when we realized that wait a minute just within the fellowship if you look around there's so much of body of work already done by some of the fellows and you know to name a few Satya spoke about Andrew's work on impact type Sid's going to talk about neighborhoods today and tomorrow in a session and we realized that these could you know very well become such crucial scaffolding as we try and mount the idea of a climate fund and you know it's something which can allow experts and advisors on one side side to stay focused and community and impact on the other side so that was a big aha moment for us and if you go down one more slide said as we went and socialized the idea a bit more in the fellowship we sort of rediscovered the third and probably the most critical peg to mount the idea on and this is where I truly feel that we are blessed to be part of the fellowship in the fact that so many fellows have been chipping away on climate action goals in their own small way and what you see here on this slide is a brilliant repository of fellow led projects and a big thank you to the EHF central team to actually put all of this together frankly it blew my mind when I saw this and in the run up to today in the last two three months we've had some really encouraging and amazing conversations with fellows listed here I mean I would just I see Mike in the room but Nat and Mike doing some work on nature restoration which is in New Zealand right now but could have sort of good learnings for the Pacific or Dr. Brian's work on marine permaculture or the work Amy is doing on more resilient South Pacific communities and almost everyone equivocally felt that this is such a powerful base of projects to start engaging with for the fund and look we're conscious that not everything here will fit into the eventual fund pieces but what it gives us is a great start point for some real grassroots communitarian work which is happening something that private capital would truly truly value the field and with that I would come into the last slide that I really wanted to put up just to bring everything together and sit if you can go down there's a bit of animation on this slide but just to bring everything operationally like if you're trying to set up a fund what does this scaffold start to look like this is really version one so a caution there actually maybe even version 0.5 but as a first step on your left is of course we need to start mapping the various sources of finance that could in some way be focused on the island economies in the Pacific or Asia Pacific here it would be super useful if any one of you has networks that you want to open up to us the deployment of the fund would be across a couple of different areas one of course is the venture companies the project itself and there though we have a base of EHF projects to start with if you know entrepreneurs who are sort of working hard in the Pacific or Asia Pacific island economies on climate feel free to open that up to us and most importantly we want to bring in some capital and thinking into building the right support structure to get these ventures to succeed it's sort of a venture studio approach where we would really like to tap into the collective intelligence which exists in the EHF network and the extended network to make these ventures succeed and I think a key component would be in this approach to use tools which we fortunately already have within the network we spoke about impact type and neighborhoods as I think those will really help align the right reward structures for something like this to succeed and all stakeholders to be interested and I think this would be a good segue for me to pause and bring in Sid to talk a bit about neighborhoods which is one of the anchor points that we are looking for the fund itself yeah Sid over to you I'll I'll just perhaps give a bit of framing for Sid's experience spans both ends of the economic spectrum from heading South Asia's largest trading desk to exploring and designing distributed economic paradigms as Satya had mentioned in the Gandhi ashram in India he is the founder and chair of the neighborhoods foundation and this is a web three project that's headed in out headquartered in New Zealand and the toolkit enables new social coordination patterns so communities and micro networks can leverage distributed ledgers to record culturally relevant information with which they can better orchestrate their activities so Sid's hope is to eventually enable ground up communitarian responses to some of the major crises we face as a society so Sid having given that framework for you just love to hear more about your work in this space thank you I feel like you've already described neighborhoods well so it's job done just real quick Paula if we're running tight in time or Michelle I can probably keep this short for those who are interested we have a more detailed conversation between Kamiya and me about neighborhoods tomorrow so I'll keep this down to just a couple of minutes more about how neighborhoods enables projects like climb up I think the short answer is Vishal spoke about the blended finance side like the source of funds and how more patient and multi-dimensional and and more broader perspective capital can engage better with some of these regions that we're talking about I feel like projects like neighborhoods and impact have enabled this capital to land in a more wholesome sustainable way in these communities because as we've seen in the past often capital when invested in some of these regions can be quite extractive and even destructive to some of the social fabric in these communities but projects like these leverage new break breakthroughs in technology like web three like distributed ledger technology like peer-to-peer networks to ensure a stronger communitarian response so it effectively allows communities to come together organize themselves better so that when capital lands in within them it actually results in a much more wholesome response empowering the community as opposed to simply extracting from it and so in effect it we when we looked at technologies like web three we said these are important because they allow communities to have agency in the way in which they store and validate information allowing them to deploy their own networks in a very simple and easy way without having to resort to institutions like either governments or large web two platforms which have typically maintained information for communities and so this information could be varied it could be you know a community saying we value time contributed in our community garden or it could be what kinds of regenerative agriculture practices are we taking on or more commercial like who you know transactions and payments and loans repaid or even social in terms of like who is showing up for the community more and this gets stored and so neighborhoods infrastructure allows communities to store this in a simple and easy way in a way in which they they can deploy these toolkits without any code experience almost like a drag and drop way it also allows communities to express preferences and prioritize action to to specify which kind of behavior gets amplified and this is a stark contrast in stark contrast to what we see today where if a community wants to operate on a platform say like Facebook you actually don't have that option it's it's predetermined and so it's almost like the platform's culture overriding the local community's culture and lastly it also you know these technologies allow these communities to articulate what rules or what governance defines how they evolve and work with each other and across communities I won't go too much into these details but these snapshots just give you a gist of how these technologies allow communities to put together these spaces for themselves and the role of neighborhoods is just accelerating it or making it easier but really quick I'll probably wrap up in in a minute or two from here some of the pilot projects that we're working with are I would say three four there's there's local projects on-ground communities that we're enabling there's global capital you know projects like Climap but there's also bridges which allow for a translation of efforts on the ground into a language that is understood by global capital and so one of the projects we're partnering with is called the zero degree Collaboratory which is basically a form of climate accounting which validates contributions made by young people in local communities and translates it into a quote-unquote net cooling effect on the planet so you might have you know a community in Hawaii or Sri Lanka or in New Zealand where a group of students might take on a local activity like maybe cleaning the beach or installing some kind of solar panels or a solar kitchen but this particular project the zero degree Collaboratory translates that into a net impact in saw in helping to solve the climate crisis and this is possible because these communities will store and validate and audit this information in their own community deployed ledgers which allows this information to flow across communities as well as into projects like Climap which would then have this data on chain in a in a through wire and auditable trail which would then allow them to make funding decisions and so these funding decisions could be micro investments in entrepreneurs taking on social enterprises they could be grants they could be dynamic credit limits that are issued to people in these communities if they're you know practicing agriculture for example in a particular way the spectrum is quite broad and varied and and lastly a lot of these pilot projects are just local communities that we're working with Satya mentioned one of them in in the region in Sri Lanka which is about 1.2 million people where there's an intention to to revitalize regenerative agriculture practices but in in a way in which information is stored and recorded on distributed ledgers through projects like neighborhoods and so projects like these allow us projects like us allow us to validate specific practices like maintaining diversity in the seeds that are used or practicing certain kinds of organic farming or track people who are contributing and tracking species diversity and allow for the flow of capital from from global blended finance into these communities in a way in which it circulates and is regenerative as opposed to simply extractive and distorting social fabric but I'll stop at that like I said more of this tomorrow for those who thank you thank you so much look we know that there's a lot of questions that will raise through this so please do don't hesitate to put your questions into chat also if you've got comments also keen to see those but if you're specifically putting a question please ensure that it's clearly marked as a question there's a couple of things that from what we've heard that I just want to ask for a little bit of clarity on when we're talking about climate investing in communitarian projects what does that actually mean is it mean that you're only going to be investing in community led projects or will there be individual businesses just like to unpack that framing a little more to either Vishal do you want to take it yeah whoever wants to jump in no I can take that Rosalie actually it's so early in the in the whole planning cycle that we haven't really gone into those specifics about the fund and the fund thesis but yeah at a very high level we would always be conscious of looking at projects which have community as a big part of them and you know in these pacific and island economies you can only be successful if you have your ear to the ground and take the community along with you in the project so that's definitely going to be a cornerstone of how we are going to be looking at it for sure just real quick I can add I think some of these technologies and toolkits are so new with we're starting to figure out how they will land with with with different regions and so it's quite likely that I'm just riffing here climb up might invest in projects and enterprises which end up becoming more co-op style operating and and and owned because these technologies allow you know structures like enterprises to become more cooperative and simultaneously within communities it might allow a group to come together and set up a social enterprise like an actual business within the community which is now in west of investor worthy because a lot of their data is formalized and on chain so it could be it could be both ways thank you you've got a great you know it would the projects would include the climate mitigation projects like solar when distributed solar and you know regenerative agriculture and nature-based solutions like seaweed marine permaculture Dr. Bryant and Juan Herzen I think things like that yeah there's a great question from Kimia and I think this goes to ties into the concept of the impact hive Kimia's question is have you thought about a governance structure for this fund and how are other blended finance funds governed you want to talk about the impact hive uh this yeah I can first talk about the impact hive and then probably Vishal you can talk about the governance structure and so impact hive is interesting because Andrew designed something over the years working for a fedsar institute and it is about conscious capitalism and trying to create an economy based on love moving from win-lose kind of a business to win for all model so the ecosystem of experts creators innovators and nonprofits that we have in EHF you know is an ideal fit because it allows collaboration rather than competition and develop some true synergies so that the whole is greater than the sum of its parts and this really improves the chances of success for solving complex problems like you know climate solutions so the impact hive will have several usps to raise funds from philanthropic sources and this this catalytic capital can be distributed between the startups in the impact hive the non non-profits and the experts also to provide advisory services to the fund these experts are people you cannot hire and people who will be able to give critical mentorship and ideas and provide their network for the startups so all that is possible under the impact hive and here you know the rewards are also distributed widely widely not equally it's it's not socialism it's I would say conscious capitalism and where you know we are all part of this community it's like a sort of a guild and our common purpose is address the climate emergency and the SDGs and climate action so with that brief impact hive Andrew would have done a much better job he's a very good communicator but I would now ask Vishal to cover about the governance structure yeah Satya thanks I think you touched upon it so it's been essentially there will be a GP governance structure eventually in the fund which would be responsible for day-to-day operations of the fund but structurally the big difference I feel would be in terms of all the neighborhood and impact hive models that we are thinking about and how rewards and motivations are going to get aligned there and of course at at the core of that would be to tap into the EHF network of advisors and try and see how those networks can also be aligned to the same sort of goals so effectively that becomes the model there is a venture studio approach which is being looked at which is going to lean on a lot of these skill sets and each of these sort of ventures would be put through that venture studio approach towards success can I just really quickly add a personal reflection here having worked with just you know been part of conversations about the climate fund the last couple months it's been really refreshing to see Satya anchoring these values himself it's never seemed like a control thing for him like he's constantly held that ethos and value system of yeah we have to be as collaborative as possible in this and I really really appreciate how he embodies that just in terms of the complete lack of ego that he operates out of that's all there's a really interesting question from Rohit O'Brien it might be a little early to go into it but how do you think the regulatory landscape in New Zealand or elsewhere should evolve to better support these types of investment approaches blended catalytic or regenerative yeah I think Rosalie you said it correct it's probably a little early for us to have thought through this we know for a fact that there is some ministries in New Zealand who actually have funds earmarked towards the Pacific Island so I guess the only thing when you start blending in private capital with sovereign or public money would be just the ease of the processes and how sort of flexible can that be towards achieving some of these objectives because what one is realizing is that a lot of public money comes anchored with a lot of toes and don'ts and that's where it starts getting extremely challenging in terms of putting these structures together so I don't have a specific point to say for New Zealand but this would be my just general comment on it thank you there's a really good point from one of our fellows Amy Armstrong here who's given thanks for the overview and the enthusiasm and the efforts she makes a point that there's some evidence that other blended finance facilities blue nature capital facility global funds for coral reefs etc they've overestimated the pipeline of revenue generating ventures on the ground and have needed to pivot to capacity building efforts so in other words they've needed to focus on building the absorbative capacity in communities so I guess the question is how are you thinking about ground-truthing assumptions about the venture pipeline in the island communities where you are hoping to partner can I have a go at that yeah so there are several things happening here and you know it's it's very encouraging to see New Zealand take leadership in this MFAT has an RFP for building capacity in 15 Pacific islands 25 million dollars for this effort apart from this MFAT is also launching a blended finance fund through a fund manager it's about 50 million dollars for which New Zealand is contributing 10 million and similarly I mean I think the MFAT budget for funding projects in the Pacific islands itself is about 1.2 billion in the next two years so that's in fact a lot of this money Amy is right that you know because of lack of capacity in 10 of those 15 countries it's only capacity building not the flexible finance that they're offering so it's an important point that's where I think you know working with the communities and that's where the nonprofits in the impact high will play this impact important role and we have this model of the regenerative income being a constant source of funding for the non-profits in the impact thank you how do you take the Maori and Pacific cultural context so we know that for Indigenous peoples that they often have 50% of the biodiversity they are at the community frontline facing the climate impacts how do you ensure that their needs are understood represented that they are leaders and can be empowered through this it's a great question I can take a shot at it Rosalie yeah I mean we all know the Pacific and island communities have a very very unique cultural context and flows ties to the land and I think two things have really helped one is of course just being part of the fellowship I think over the last four years and our strong exposure to the whole Maori context has been super helpful it also helps that a couple of us have lived and grown up in India which is I think very similar sensitivities in ethos in many ways in terms of relationship to the land and the rivers that said I think the first principles here would be that any project must really start by respecting local customs traditions the governing structures which are already in place and sort of meaningful engagement with the communities and I think neighborhoods there could be a big one for us and we have a whole sort of host of knowledge within the fellowship in terms of the work for example what Amy has done in building resilient communities to lean on and the last thing I would say is like co-designing solutions that leverage traditional knowledge versus trying to sort of redo everything from the start so in several ways back ideas that design with the community and not sort of throw in top-down ideas would be crucial I think you're on mute Rosalie I think apologies so if we're talking about the the fund you're at the point of structuring it you've also talked and you mentioned the satya going into an accelerator can you tell us a little bit more about that and what you're hoping to achieve through that so the CPI lab is a global innovation platform or incubator here you know what they do is you know when we come with an idea which is not fully baked and they they have a lot of experts in policy and finance and they CPI helps in stress testing the idea make it robust and then you know the fund design the governance structures all those are formalized and once you know CPI lab endorses the project then you have their network of partners which are governments corporate foundations like Rockefeller or Exxon foundations you know all these people there are 60 major investors and philanthropic funds which are part of this including countries so they are the sources for the catalytic capital and the concessional finance that you know can be raised for this climate fund thank you so I'm just conscious of time we do have time for one more question so from Robert O'Brien to what extent do metrics play in these financing approaches and how do you see measurement capabilities and grassroots communities being developed if important expanding the theme of metrics how do you think we might represent the surface the interdependency found in world views so this is really about the metrics and measures of value that can actually support any sort of blended or regenerated finance thank you just checking if Sid wants to share some of the neighborhood oh sorry I didn't hear that I think this kind of like Robert I think you've almost answered the question yourself like some of the intelligence that you find in communities that are so close to the land projects like ours are almost backing that they want to lean into this wisdom and the question is are they willing to use toolkits and technologies like us can we make it simple enough to use in a way in which they can formalize and create these systems that are useful for them projects like the ZDP at Stanford along with some of the allied projects in the Sri Lanka project are hoping to create like intelligence on the sidelines which can be shared with such communities but ultimately the the key is you know I think a lot of these communities understand what it what species diversity truly means on the ground they understand what seed diversity might mean on the ground they understand what regenerative practices actually mean and they and you know they've been practicing for thousands of years and so we think there's a lot of support almost facilitating this intelligence to just be to be tracked within these communities and so the role of Climap almost will be to follow some of the this context and the wisdom in these contexts in order to support it as opposed to playing that role of like let us tell you what is the best way to you know regenerate and increase biodiversity in these regions it feels like yeah just a simplistic answer given the time but quickly add to that we also said you know the neighborhood's platform is excellent for capturing all this social and environmental impacts but we also use some formalized tools developed by other gurus in investment field like the rise fund you know they have this impact multiple of money so those kind of tools can be used for investment decisions and of course the impact hype also has you know built on similar tools for making these impact decisions Satya thank you and just conscious of time we've we've just got a couple of minutes left there's one very quick point of clarification thank you Cheryl which is is that this really focused on small island Asia Pacific nations or does it also include Aotearoa New Zealand as well quick answer is no it doesn't include the New Zealand the focus will be Asia Pacific islands because that is to have the impact focus and that is for defining to the investors into the fund so but if we are able to organize the fund structure and if there are separate streams you know it may be possible for New Zealand projects but but the startups in New Zealand which focus on the Pacific islands the technologies climate technologies which have relevance for the Pacific islands those kind of startups can be a part of that impact hype like whether it is kiwi fiber or melons project of you know the hydrogen generating hydrogen from organic waste or Tim Moore's project you know compressed air for refrigeration and cooling so those kind of technologies projects can be supported listen thank you all so much for this and just so that we can be clear your ask here is for help in helping to shape and continuing to structure this connections into funds ideas for projects and the support structures is that a fair summary or have I missed anything oh that's a perfect summary Rosalie thank you so much for that call to action yeah so look we thank you and I just want to give a very heartfelt thanks to Sid and Satya and the shell both for the passion and energy that they've worked to this but also just been willing to share this at a stage and to open it up knowing that of course we do not have all of the answers but there is something that is really powerful here and we will look for opportunities to also bring the impact hive model this is something that has been worked on it's not easy to explain in just a couple of minutes so I think there is opportunity for follow-up for those of you who are interested so thank you so much all of you for your time and for joining us today and I'll hand that now to Michelle yeah thank you yes Sid sat here Michelle and Rosalie for the session the conversation we went into detail and very wide and it is really exciting to see just what is the potential and the opportunity from here so just a quick question to everyone before we sign off is what is one key takeaway or insight that you are taking from this session so just have a think about that I'm thinking what we have explored here what is one key takeaway or insight you are taking from this session and then we will close with the Karakea Kia ora thank you everybody


Basta everyone, our start-up name is Basta Se Bajaratak at North Basta Chhattisgarh. I am belongs to rural Navigav in Gondiya, Maharashtra during my one of the assignments with farmer-producer organization in Chhattisgarh. I met fascinating farmers Ambika Ji, Harish Ji and Sandesh Ji. I shared my vision and my experience with them. Working Basta Se Bajaratak, we are working on post-harvest management of non-timber forest produce. We are a far-profit social start-up, working on Basta Daipal, Jammu, Tamarin, Aptu Processing and marketing at Velaspur, Raibhul, Lilaay and Rukh. Currently we have six retailers in four cities. We have four 11L smallholder tribal farmers working with seven SHGs and seven villages of two panchayat. We have a village-level collection center exclusively run and owned by women messages. We are impacted 410 smallholder tribal farmers' livelihoods improved through non-timber forest produce. Income increased around 10-15% regarding the perishability of the non-timber forest produce and wages while during processing the forest produce. In coming days, we are planning to start our new initiative with Tamarin Value Edition and we are searching market in South India. I am a biscuit and I want to build the future.


For more videos on people's struggles, please subscribe to our YouTube channel. If people don't have the right to protest, then how can we tell the government that we're not happy with what they're doing? And the protests are peaceful, so there's absolutely no need to say we can't have protest. So why should they be stopped? It must be seen that we the people do not support this bill. It's authoritarian. It's a clampdown on people's civil rights and on democracy itself. Because democracy is not just a bunch of old people debating in the House of Parliament. It's about people having their voices heard on the streets.


It has been four weeks since nubbin surgery. Let's take a look at what's going on underneath here. So I was cleared to take this off for showers and stuff like that a couple weeks ago, and after the nerve surgery that I had, there's actually a lot more incisions than I expected and I had a horrific allergic reaction. It looks like it's mostly healing. I haven't looked at it in a couple days. Let's take a peek. As we do this, it is very important to keep my knees straight. If I were to bend it, it could pull the nerves that they operated on and spliced into muscle out of place, which sounds horrible. So that's like this splint and let's take a look. So one, two, three new incisions that are all healing quite nicely, but you can see sort of some of the remnants of that reaction that I had with all this discoloration and even begin to stress how much better it looked than it did even a week ago. Little nubbin here is obviously still very swollen. Overall, I actually think that healing looks really good, which is really amazing because for a minute there, I was concerned.


I will go into matter and explain you how we are doing the experiments. I will start and main topic of the presentation will be talking about transmission measurements, which are the principles, the base principles behind these measurements. I will try to explain you how we determine the background in the facility using black resonance filters and then I will pass to explain all of these in a example using the American 241 transmission measurements. And then if I have time I will enter, I started to explain also about the reaction cross-section measurements, the principles and how we calculate the reaction yield. So we can jump. So we pass directly to the transmission measurements. Transmission measurements is to measure the total cross-section. So we are, for measuring the total cross-section we are not adding all the channels that I show before, but that we are measuring is the other part. We are measuring which neutrons are not reacting with the sample. So those that are traversing, that is what we call transmission, the fraction of neutron being traversing the sample without interacting with it. So this is in opposition with the reaction yield, that reaction yield is the fraction of the neutrons that are interacting in a certain way with the sample. In this case that I show here is a capture experiment, no, you detect the gamas that are reacting in the sample. So you see here the type neutrons that are not interacting, while here you are detecting the products of the reaction. So these are completely different approaches. The interesting point, the first interesting point of this approach is that in the transmission experiment the theoretical transmission is directly related with the total cross-section. Like this formula, while in a reaction cross-section the reaction yield is not directly related with the reaction cross-section, but also at least you need the total cross-section to measure. So this is the first advantage of the transmission experiment. The second one is that we measure the experimental transmission performing the following experiment. The first we measure the neutron being without any matter on it, and then without the sample in the beam, and then we put the sample and we measure how many neutrons are still reaching the detector. Doing this simple ratio we already get the experimental transmission. And the main advantage of doing this ratio is that we don't care about the neutron flux, we don't care about the detection efficiency because both are canceling the ratio. And then, like this, this means that if we are fulfilling certain conditions, we have directly the total cross-section obtained from the experimental transmission. And this is possible to do when we have what we call good transmission geometry, which are the following conditions. First, we have to require that the neutrons that reach the detector pass through the sample. Then, the second, that if a neutron is scattered in the target, it doesn't reach the detector. And the third is that we have to collimate the beam to have a parallel neutron beam and the sample should be perpendicular. This we can get it was going to long distance and with a special geometry. And this is what we call a good transmission geometry. Everything is doing by collimation. The most important part of a transmission measurement is the collimation. Then, there is a... This is very fast. This is how it looks schematically. Then, the fly pass in a transmission experiment at getting at 50 meters. We have here the neutron source, the crown grade welding that separates the banker from the fly pass. The first part of the fly pass with the collimator here in black. Then, the half path of the fly pass is the sample with some filters that I will explain later. And then at 50 meters we put our neutron detector. In this case, the lithium glass detector that is already John explaining his presentation. But there is a fourth condition that we have to fulfill to get very nice cross sections in transmission that is that the sample should be homogenous. That means that it has the same thickness everywhere in the sample. We have the same thickness everywhere in the sample. If we fulfill that, we can get very precise, very accurate cross sections. These are some pictures of the experimental setup, the fly pass that I showed schematically before. Here I showed what we call the sample station at 25 meters. So you can see here the sample and some filters, the soulful filter and other filters down here. You see that we put then in some kind of tray that we can move remotely. So we can put it in and out of the bin very easy with only programming the engine. And then here I show the lithium glass detector that already John presented the schematic view. Of course you don't see. It should be inside the black plastic bag to avoid light entering in the detector and causing noise. And this is what you have. I mean you have only the samples with the filters and the detectors. And with only these two components, with the proper cylinder, you can do the measurements. This is the lithium glass detector. You use it in the region of the resonance and up to hundreds of kV. But you can also perform transmission measurements in the fast energy by using a detector, like a fast neutron detector for example based in the elastic scattering cross section in hydrogen. But the measurements that we perform in gelina usually are with lithium glass. This is what I will show. So now I will try to explain to you how we determine the background in gelina for these transmission measurements. What we use is that we call the black resonance technique. The idea is to put in the bin next to the sample. We put a material that has a strong absorption of neutrons at a certain energy. So for the time of flying corresponding to this energy we remove all the neutrons that are coming in the bin to the detector. And put in different filters. For example I show here the case when we put the sulfur that I show before, a cobalt filter and abismus filters. We have these dips here that are giving to you. The bottom of the dips provide you know where is the background. Where is the level of the background. And how it works. So exactly this idea is that the principle in this in gelina is a white source you have your bin, neutron bin with all the neutron energies. So for example if we look at the, we have neutrons that are coming at this energy, 132 electron volts. And these neutrons at this energy are coming at a certain time that is given by these formulas. If we now put in the bin a material like copper that has a very strong resonance at 132 electron volts. The cobalt will absorb all the neutrons that are coming in the bin with this energy with 132 electron volts. So in principle we should not have measurements here related with the bin. But what we will have is the background. What is remaining is the background. At these backgrounds comes because for example from natural relativity or contribution because as Jan explained we are a multi-user facility. So we have different flight paths that are, you will remember now there is like they are exiting from the target hole. So we can have neutrons that are scattered in other flight paths and come to our detector. Then we have, this is a background that is independent of the time. But then we have also time dependent backgrounds. The first one is related with the gammas that are coming with the bin. These gammas are not stopped by the cobalt filter. And the main contribution of gammas is coming from the capture of the neutrons in the water, that produce 2.2 mega-electron volt gammas. It results that these gammas cannot be distinguished from the neutrons with the lithium cis-glas detector. Because this high energy at these gammas deposit more or less the same energy that the neutrons. So it's a background that we have to take into account. Then the second one is neutrons. It's a background due to neutrons with higher energy but that don't reach the detector directly. But only reach the detector after scattering on the pipes or in the material. So after scattering they reach the detector at it results that because they have higher energy but also longer flight paths they reach the detector at the same time that corresponds to the neutron and to the 132 electron volts. So this also will contribute to the background in the deep. And then the last one is that this famous overlap neutrons that Jan started to spray. No, because we are a facility, a pulsar facility with a high frequency. Usually we work at 800 hertz. That means that between one pulse at the following one we have a separation of 12.5 milliseconds. You can do the calculation you want. So that means that all the neutrons in a pulse that arrive to the detector with an energy that applies that arrive at the detector after this 12.5 milliseconds will overlap with the following pulse. So some of them will arrive to the detector at the same time that corresponds to the 132 electron volts. So we have to also calculate to estimate this background and consider this background. In principle to avoid this background we usually use what we call overlap filters. Cascmion ou borontén filters that removes the low energy part of the spread flow. But mainly with the boron there is always neutrons that are remaining. And this is how it looks, a typical background for a transmission experiment, but it is composing in the different components. You have here the time-independent background, the constant background, that for example we can determine the background for an experiment if we close the shutter. So in principle there will be no neutrons coming in the bin, but all the neutrons that are coming for other flight paths and the relativity will come. So we have studied this background like this. Then we have the gamma background that is contributing mainly at high energies. This background, this is standing dependent also we can study this background by removing the neutrons from the bin and leaving gammas and that we can do it putting the polyethylene in the bin so we remove the neutrons so we can study the gammas. You can also have scattered neutrons, that is this component here, and finally the overlap neutrons that are coming here. This also we can study what is the contribution of the overlap neutrons by for example changing the frequency of the accelerator. If we change the frequency for example at 50 years, the next pulse will arrive much later. So we can study, if not we have to cut here. This is corresponding to a cut of the 12 milliseconds corresponding to the 800 earth. But if we change the frequency we can study this and we can see what is the shape. Usually when we are doing an experiment we can already taking this tail we can already extrapolate and estimate the overlap neutrons that we will have in the next ring. So this is more or less the technique that we use. The only thing is that this has some price. We have to be very careful when we use this black resonance technique Anything that you put in the beam of course will remove neutrons but also it removes background. We will see this because we will see what happens for example. Here I show you the transmission spectra that we obtain using a manganese sample that it presents already itself black resonance filter. So already with the sample we can have an idea where is the background. If we now put one germanium filter we will see that of course you get more black resonance, more here but also in the depths of the manganese you can see that the green is below the blue. That means that the germanium filter is also removing some part of the background that is reaching the detector at this point. The situation is even more clear if we put this big Sulfur filter you see here that the difference in the background after putting the filter and without the filters so we have to be very careful when we put the filters and to account for these effects we have two possibilities that is to correct it we can do two things. The first thing that we can do is use different filters with different thickness like this we can extrapolate the background that we will have if there was zero thickness filter. And the other option and this is also quite simple is that use fixed filters always in the bin so we don't care. They are there, the fixed filters are there when we measure with the sample and without the sample. So it's like you don't need to correct for them because it's already a characteristic of your bin. So I will try to explain a bit better now when doing the real experiment. This real experiment is a transmission experiment in the Amelicium 241. This Amelicium for the region of interest is the resonance region here. These are the resonance coming from the Amelicium and this is the spectrum that we obtain with the Amelicium in and this is the spectrum that we obtain when we remove the Amelicium. For this experiment the three fixed filters were used Sodium, Bismuth and Cobalt that were there in both cases in sampling and sample out so in the ratio they will disappear. And we can use these filters at high energies because this region is not of interest for us. We are interested in the region so we can leave it there and this is not affecting the resonance analysis that we will do. But for example if we want to use tungsten and silver this will affect. So what we do is to get the full shape of the background is do another measurement when we include apart from the fixed filters, tungsten and silver filters so in that experiment we determine the shape and then when we go to the real experiment we only need to adjust the background level using these points here and these points here. So that's the idea. So when you have already characterized your background you subtract it to the spectrum and you make the ratio and you obtain the transmission of the sample. And in this case for the Amelicium this transmission is as accurate as at the level of 0.25%. So with this number you can have an idea the powerful of this method not to measure cross-section that you can get cross-section well below the 1%. When you have already your experimental transmission that you have to do is to extract the resonance parameter so we go back to the theory I recover part of the jump presentation here we represent the refit code that is the code that we use to extract the resonance parameter for the resonance analysis. What we do is we modulate the transmission that we will have putting the sample characteristic putting the facility and detector characteristic in the response function that he explained in detail previously and what we do is less square feet between this model and the experimental transmission that we measure. This is done for by refit and we can obtain the resonance parameter the best values are just adjusted to the experimental data. So this is how we obtain the cross-section with a transmission experiment. If we now pass to the reaction cross-section in the reaction cross-section as explained before we have to measure the reaction yield. Now the situation is a bit more complicated in both sense. First for the theoretical reaction yield you have also to know the total cross-section as for example you can take from the libraries of doing dedicated experimental mission but if you are not but only in the case of a thin sample you can forget about higher order terms and use the first to encade the serial to this path. But in any case you will have to know also the total cross-section and the reaction cross-section both of them are affecting the reaction yield. And only in the case you have infinitely thin samples like it could be the case for example for certain efficient experiments that the targets are very very thin then in that case you get a direct relation between the yield and the cross-section but only in this case. In capture experiments this is not usually the case usually you have thick samples and if you have thick samples even the self-shilting correction is not enough you have also to apply multivase scattering correction or what this is multivase scattering correction what is happened? Part of this part of the gammas that you detect in your detector is coming from direct reactions direct capture in the neutron but for some cases the capture that you measure is not produced by the neutron daily but for the neutron after scattering in the sample once or even more than one time so in fact what you have is that the cross-section the energy at which the neutron has been captured is not the energy given by the time of flight that is completely different the relation between n and m-prime is given by this formula I don't know why it's not I think it's too simple so the energy between the neutron and the scattering neutron is given by this relation you see that is depending on the angle and in the atom and this implies that you have instead of having a clear resonance if you have a thick sample you will have things like this in your jilt how it's possible to explain this this is the case of the 56 iron resonance at 1.15 kV you see here that the big resonance is coming from the direct capture of the neutron but then if you have a scattering and then a capture you will have a contribution that is the blue curve and even if you have more scattering you will have a longer time and these shapes are coming from the following expressions that I showed you before the blue peak is coming because for the possibility of having a scattering and then capturing in the target there is a direction that is privileged that is the perpendicular direction because this is a pump cake like a pump cake sample the diameter of the sample is always much bigger than the thickness of the sample so that is playing this peak in the blue curve it's corresponding to this energy so the peak is corresponding to the energy you put in the formula 90 degrees and then this shoulder is corresponding to the maximum energy that the neutron the neutron in the scattering can give to the energy the neutron in the scattering can give to the nucleus and then the last shoulder is a combination between the peak and the shoulder and then also this is for the theoretical reaction gel but also for the experimental reaction gel it's also more complicated to determine for the reaction gel you have to determine not only the counting rates but all of these parameters that are the neutron flux you have to determine the neutron flux the efficiency of your detector the solid angle that you cover so you have to do all the calculations also you have to calculate the probability that the gamma escape because this is a probability that the gamma remains no exit from the target when it's thick then it's the effective area or the recent interception area the percentage of the beam that is intersecting with your sample and where you have to calculate all of these these are uncertainties so that is plain because in a reaction cross-section it's much more difficult to calculate a cross-section than without transmission and that's all from my part I will only finish with making publicity now for example the transmission to show now again the power full out the method I will show here that for the transmission measurement in gold at thermal energy you can obtain no point bar in a... well below the level of 0.1% if I'm not wrong 0.1% with the other reaction here we are talking about a few percent that's all Peter will continue later explain a bit more about how to calculate the flux no it's not I will be on Friday so on Friday Mr. King will explain how to calculate flux and all of these parameters that's all if you have any question if you have something like one minute


Hi everyone Joe for jazby's case breaks comm happy Thursday coming at you at 2020 tops five-star baseball eight box picker team a number Seven from jazby's case breaks comm. There it is right there Big thanks all of these wonderful people for getting into the action right there No diamond backs on the checklist Most of the teams are picked up straight up including a big one right there last by John McCall Dan blue Jace all sorts of possibilities here One quick little number block we had to do we accomplished that separate video So works like just our standard number block breaks, but only for those teams and only for picker team seven on Thursday Set that up here Let's pop this baby open. Let's see what we got there it is 20 25 star Good luck everyone You know what you can do Ryan. They do make top loaders For eight by ten photos You just buy those and then you can cut it down to the size of your oversized cards When you use this blank card here That's what we do sometimes when we have to ship those out You won't have a penny sleeve though. You have to be kind of careful there, but that's a way to do it All right, one of the nicest autographs in baseball Reese Hoskins That'll be for Derek Hamilton and the fight and fills And we've got Justin Dunn done done done That is 39 out of 50 For the Mariners that's gonna be for EA and the M's Good luck next two autos We've got JT Real Muto. What's he doing there?  The the packaging was wider than the car And there's a redemption on the bottom So if it's one of the number of log teams that means West could get this Or it could be for someone else Now we got Mitch Garver for the twins that's gonna go to Matt M and Minnesota and now tops also has started to write the team names on here, which is very convenient It's a five star base autograph purple parallel. Do you have any purples? We had a purple Justin Dunn was a purple out of 50 should be out of 50. Oh Los Los Angeles angels or Dodgers got to be Dodgers gee Gavin Lux There you go nice one for my boys in blue Ryan Gamsey with the Dodgers Gavin Lux has been struggling a little bit since being called up Pretty much permanently I think now Diamondbacks Dodgers are a little bit later, okay about 30 minutes or so But I'm sure he'll be he'll be fine He'll be fine next box. Yeah, TJ. So loves Dodgers TJ's team in action TJ knows what he can do. He'll be fine Gavin Lux will be fine Right. Oh 101 101 with 19 seconds left. Hang on a second folks. This is see what happens buzzer beater Maybe Celtics with the ball Tatum on the bottom of the screen Kemba with the ball Screen set six seconds left. What are they doing? Oh wow? What a pass So Kemba Walker drives in I thought he was gonna take a bad shot or something But passes it off for the safe dunk. Good job. All right, there's Wilson Contreras 0.5 seconds left. What a play Good internal clock. All right Wilson Contreras for the Cubbies Nick Stober All right Derek, I was a smart basketball player Brad Stevens must be proud And now there's only like half a second left There's Jake Rogers that's Andrew Andrew B with the Tigers but point fives enough for for Toronto to put up the shot. That was a baseball break, but we got basketball playoffs happening here And apparently the Boston pitcher is doing something special against the Blue Jays right now Exactly memories of Derek Fisher. Are they bringing taco fall into the game? Wow. So taco fall is gonna be Look at his wingspan. He's gonna try to guard the inbound pass Raptors Inbound all the way across the court wide open three He sinks it Did it count? Did it did that count? I don't know. We got it. I got a look at the right. I didn't think he made it That's the win. Wow He got it Wow Yeah, that's good. Yeah It's out of his hands at point two Point one it's in the air then the buzzer hits. Wow There's Jalen Davis Yeah, that's oji anubi with the clutch shot I mean they left him wide open There's Jalen Davis for the giant that goes to edward and back here is oh, this is nice Steve Carlton golden graphs Steve making sure not to sign over that five star right there That's beautiful. That goes to That goes to the X line with Cardinals Steve Carlton Three boxes to go There's will smith the fresh prince of bel-air Going to my Dodgers ryan gamsby has the Dodgers. He's got that and the luxe too Yeah, no kidding nigg They having some great great games. All right, and a green parallel. It's glaber day Glaber day is coming up Two out of 15 nice low number for the bronx bombers matt medlin got a thinner card on the bottom here I think that's one of those clear cards We got robell garcia Rookie auto for the cubbies that's going to go to nick Stober Back here is Wade boggs boston edition And that is eight Is that eight? Yeah eight out of ten There it is eight out of ten wade boggs That goes to matt medlin. Nice matt There you go Set that over here. All right one box left One box left two autos to go Particular one's kind of terrible. All right. There we go. Got it I think there still should be a silver signature in there. I think that's the last card right down there All right ramon loriano In the heart ramon howard with the a's The last thing is a silver signature. It's david right 21 out of 40 Nice one for the mets brett smith with the mets straight up Gets the silver signature. Very nice. That's a beautiful Five-star break ladies and gentlemen. We got 2019 five-star. This is 2020 2019 five-star in the store four box random team breaks So if you want to chase like to tis jr. We definitely can So there you go and there you have it ladies and gentlemen i'm joe for jaspyscasebreaks.com I'll see you next time for the next break. Bye. Bye