I think the question of how do we look at decarbonisation both from an energy systems and a land perspective we have a phenomenal panel I'm going to first ask Claude now to join me Claude is the executive vice president for sustainable development at EDF, which is One of the largest utilities not just in Europe, but in the world Claude if you would like to take any chair Maybe in the middle in the middle. That would be great Next we have Chad Frischman who's the vice president and research director of project drawdown Please look if you'd like to please sit down Then we have Chris Matai who is a researcher at the international institute for sustainable development international relations in France Chris and we will be joined shortly by Kate Gurry who's the head of regulatory affairs of of NL So let me place myself here The the question we've had that we've had a lot of discussion around energy decarbonisation and it's it's great to see that countries are Really stepping up action. There's a clarity of vision of what needs to be done And though we are too slow and too late out of the blocks the trend the train is definitely moving in the right direction Something that is becoming increasingly clear though is the question of how do we how do we relate to the land use side of it?  We'll talk about that But also how much of the decarbonisation has to come from the land-based sector through negative emissions So what's the relationship between a decarbonisation on the energy side and and the land use side? And so we'd like to we'd like to take a look at ask our panelists to Take a look at decarbonising the energy system with a particular focus on the implications for the land use sector Claude if I may ask you to to kick us off So I will be first on that This is a big issue. This is a big issue if you just think of the carbonizing being carbon neutral by 2050 I don't think we are able to do it if we are not systemic. It cannot be just one sector It has to be something we are Doing together. So yes, I do believe that the question of land use is is in the middle land use in one hand And also, how are we using the land? She's not exactly exactly the same When you you ask me to join this panel, I thought that maybe I could just give an example An example that We are now Taking as a as a as a goal As it was announced at our general assembly we are to develop in France 30 gigawatts of solar panels So I'm sorry because I will I will take European measurement, but that means that at least we need 30 30,000 Hector to do it But if we are serious, it's quite doubly as a company We we built a lot of hydro power. That means that we are an owning a lot of land, but it will not be enough if we are not thinking on how we are doing that from the land use Perspective, I think we will miss something if you just think of this question of developing 30 gigawatts in 15 euros You have to think on what sort of solar panel we will have I will say that we have three part of it They are not equal, but there are there are different way to take them in the car The first will be to develop self-consumption We need people to have solar panel on their roof because it will reduce the impact on the soul and and on biodiversity That means that we will have certainly to find a way to to develop our subsidiary which is already a leader in in in that and having a lot of Debend I will say that people are They don't have to have make any publicity people want self-consumption. So we have to build on self-consumption And the and the other hand you will have big big forms solar farms But we cannot build them everywhere. We have to be careful about What we called artificialization of soil that means that we have to reduce it because we cannot afford in in Europe Is not a u.s. We have not that much Room in in the country to to develop this sort of thing. So if we have to use I will say still artificialized So all to work with with people that are owning that long so that mean that We will have to to develop strong relationship with a culture We will have to develop strong relationship with by movies NGO working on by your diversity Because if we are not there will not be we are not to be able to develop this sort of of solar panel So that's me that of course we will have also to work on Public acceptance and that means that we will develop more than we do to their crowdfunding. No or no Not because it will be Money that will be cheap. It will be money to be much more Expensive that the money we can get on the market But it will be a way to build public acceptance that makes the people part of it because as a company and I Want you to have that in mind as a company. We were the one that builds the electricity sector in France That means that we are in junior we think we do it and we deliver electricity. This is done This is not the way thing can be do today. We have to work in another way. This way has to be more collective more Systemic as I mentioned we have to take an account Different way people wants to manage their energy and how we can enable that Which make a huge huge difference on how it so this is also a way to leverage a change within the company because we are to build This plan with with people. We are not to be the owner of every plant We are not to be part of everything. We were just want to be the one that enabled this 30 gigawatts in France To to to finish I would like to highlight also one point which is biodiversity This is also a way a question about setting carbon and sequestration carbon. We need to work on biodiversity We know that we are able to build plants that are able to to protect biodiversity but at the same time we dream to be Positive on biodiversity that means that we believe that this sort of approach has to take into account a development on biodiversity on Under on the place where we want to build the solar power And the third part of solar panel will be something with middle-sized panel And maybe it could be interesting with we develop a An example which is for us An innovation We develop what we called. I will try to translate in English. It's ombrella in French It means it is shadow Shadow roof that you can put on a on a parking spot And so you have you have the sort of PV on the on the roof and you have your car just behind which is Which is charging and of course we developed that on in one of the nuclear plant in the south of France And of course people find that very fun. So this is a Way to utilize solar and Taking in account that we don't want to develop Solar PV everywhere and without taking in account this big issue of artificialization of of solar which is really a difficult one for us for us in front So I pointed this this this example because this is for me something. This is our future We have to have a systemic approach on each and every question regarding energy and especially Regarding sustainable energy if we want to develop clean energy We have to do it Having in mind that we have not only to do what I was mentioning about Land, but we have also to think That we need to develop maybe an industry which is European on on solar PV And that means that we have to think more globally. This is what what companies have to do today They are not only delivering Partially electricity for in our case it has something which is much more global and at the same time Much more scrutinized by people. So we have to to to be able to not only to deliver but to prove it So it is a transforming time for us. It is an amazing an amazing one And we are very excited with that But it has a lot of social Consequences that we have to take an account also for our people. So this is really All-round so when you mentioned land, it's just a good example on how we are to transform our industry to a north to an industry which is much more closer, I think to to the Community well in which we are operating that it was by the past It's a different way for us. We explained that to our people saying this is a different way to be a Service public because we love that word in France being being in charge of something which is Needed by by people and they're very delivering it in time. So this is very interesting This is a new and land definitely will help us to Reinvent our relationship with the community and the territory Thank you. So this clearly is an illustration of how in the land constrained Environment we even even seemingly simple solutions like so no panels need to be looked at from a much broader perspective chat Project drawdowns and please tell us a little bit about project drawdown you're working on on solutions finding solutions and tell us Little bit about the types of solutions you're seeing in the space in particular. How do you how do you look at? The spillover how do you make sure that something that looks like a good solution really is a good solution that doesn't have unintended consequences elsewhere? Right well first of all we collect a lot of data and information on these solutions from from all over the world and we Assemble them in our models and as we conduct our research and ensure that when we're looking at different types of solutions that they are We evaluate all the different potential cascading benefits and positive external externalities and negative externalities But that's that's kind of just a quick answer to that but Since I have slides, I'm gonna actually stand up if that's okay. So I can just take a look and a little bit of a presentation. So Thank you. So Drawdown You may not have ever heard of that word before but it's something that you might ought to know Drawdown is a new way of thinking about and acting on global warming It's a goal for a future that we want a future where reversing global warming is possible Drawdown is that point in time when atmospheric concentrations of greenhouse gases begin to decline on a year-to-year basis It's that point when we take out more greenhouse gases than we put into Earth's atmosphere Now climate change is a concern for us all But climate change is really an expression of the problem Climate change is the feedback of the system of the planet telling us what's going on The problem is global warming provoked by the increasing concentrations of greenhouse gases So how do we solve the problem? How do we begin to reverse global warming? The only way we know how is to actually draw down to avoid putting greenhouse gases up and to pull down What's already there? Now I know given the current situation that sounds impossible But humanity already knows what to do. We have the technologies and practices that can achieve Drawdown and that's already happening What we need to do is accelerate implementation and to change the discourse from one of fear and confusion which only leads to apathy To one of understanding and possibility and therefore opportunity. So I work for organization called project drawdown And together with a team of researchers and writers from all over the world. We've mapped measured and detailed 100 solutions to reversing global warming 80 already exists today And when taking together those 80 can achieve drawdown 20 are coming attractions. These are solutions on the pipeline and when they come offline will speed up our progress and These do these solutions do one or more of three things replace Existing fossil fuel based energy energy generation with clean renewable sources reduced consumption through technological efficiency and behavior change and To biosequester carbon and plants biomass and soils through a process. We all know from grade school the magic of photosynthesis It's through a combination of these three mechanisms that drawdown becomes possible So how do we get there? Well, this is a list of the top 20 solutions to reversing global warming Now it's a eclectic list. I know from onshore wind turbines to educating girls from plant-rich diets to rooftop solar technology So let's break it down a little bit to the right of the slide. You'll see figures and gigatons That's a billion tons That represents the total equivalent carbon dioxide reduced from the atmosphere when the solutions are implemented globally over a 30 year period Now when we typically think about Climate solutions we think about electricity generation We think about renewable energy as the most important set of solutions But the first thing to notice about this list is that only five of the top 20 solutions relate to electricity What surprised us honestly was that eight of the top 20 solutions relate to the food system Now the climate impact of food may come as a surprise But what these results show us is that the decisions we make every day on what we produce Purchase and consume are perhaps the most important contributions every individual can make every day to reversing global warming But here's what's also quite interesting Our research shows that when we implement all these solutions as a system We would produce enough food on current farmland to feed the world's growing population a healthy nutrient rich diet now until 2050 and beyond Without cutting down any new forest the solutions to reversing global warming are the same solutions to food insecurity and land management is also incredibly important how we manage our how we protect our Forests wetlands and how we manage currently degraded land Safeguards expands and creates new carbon sinks that directly draw down carbon This is draw down in action every year as carbon dioxide is removed from the atmosphere Through photosynthesis which converts carbon dioxide to plants biomass and soil organic carbon When we take land and food together 12 of the top 20 solutions to reversing global warming relate to how and why we use land this fundamentally shifts Traditional thinking on climate solutions Now some solutions that don't often get talked about I'm going to mention them here It's they are actually very much related to energy and food Let me skip ahead to educating girls and family planning By providing men and women the right to choose when how and if To raise a family through reproductive health clinics and education access to contraception and freedom devoid of persecution Can reduce the estimated global population by 2050 that reduction In population means a reduction demand for electricity food buildings and Every other resource all the energy and emissions that are associated With that higher demand are reduced by providing the basic human right to choose when how and if to raise a family But family planning can't happen without equal quality of education to girls currently being denied access so what we actually did here is take a little bit of liberty because the impact of universal education and Family planning resources are inextricably intertwined. So we cut it right down the middle But what this shows is when you combine educating girls and family planning Resolving the gender inequity is the number one solution to reversing global warming Reducing an estimated 120 gigatons over 30 years so one last point because I think it's on everybody's mind how much this is all going to cost according to our analysis Sorry, I'm running out of a bit of a time according to our analysis this would cost an approximately 29 trillion dollars over 30 years That's roughly about a trillion dollars a year now, it's a lot But when we think about global GDP of Being over 80 trillion every year It's really not that much It doesn't cost that much to be implementing these solutions and the estimated savings is over 74 trillion dollars over double the costs That's a net savings of 44 trillion dollars So drawdown is possible We can do it if we want to it's not going to cost that much and the return on that investment is huge But we need all 80 solutions to get there The top solutions will take us far along that pathway, but there's no such thing as a small solution We need all 80 But here's the great thing We want these solutions we want to implement these solutions whether or not global warming was even a problem Because they all have cascading benefits to human and planetary well-being Renewable energy generation results in clean abundant access to energy for all a Plant-rich diet reduced food waste results in a healthy global population with enough food and sustenance Family planning and educating girls is about human rights and gender equality. It's about economic improvement My freedom of choice is about justice regenerative agriculture Managed grazing civil pasture agroforestry This restores soil health and productivity Improves water retention benefits smallholder farmers and large farming operations alike and brings carbon back to the land Protecting our ecosystems protects biodiversity and safeguards planetary health and the oxygen that we breathe It's tangible benefits to all species is incalculable so it's possible to achieve drawdown but It's gonna take a lot of action and work at a global scale to achieve it But here's the welcome surprise when we implement all of these solutions We actually shift the way we do business for one that is inherently exploitative and extractive To a new normal that is by nature restorative and regenerative We've done a great job in implementing the sustained or starting to think about and creating a pathway for the sustainable development goals We also need to think what's beyond what's beyond sustainability and Start thinking about regeneration Because along the way we can also reverse global warming Thank you. Thank you very much. Very interesting Chris. You've been working for many years now on Deep decarbonization pathways. What can you explain to us what they are and What some of the lessons are that you've learned from your work in Canada and around the world? Sure, okay. Well sounds like everyone can hear me here So I've been Looking at this for a little over 20 years at this point and I'm an energy economist by training And the subject has forced me to look a little bit more broadly think a little bit more bring a few more things And and I'm really happy I'm going behind Chad here because the what I'm going to talk about is kind of it's going to weave in in and out of His results and what I'm going to focus more on is how do we get this done? What what are the policies we need what one of the things they're going to push us in into a different system from where we are right now? So to I'm gonna there's three phases to what I'm going to talk about I've got some bad news I've got some good news and more bad news But then there's a fourth phase which is of some thoughts of where we go on from here Now the bad news is that we're all right. We climate change is not something speculative. It's I'm from Canada In the northern latitudes, it's plainly obvious. It's happening from British Columbia. My province has been on fire for two summers We have a family cottage. My wife has a family cottage in Nova Scotia. Literally the ocean is eating the property. Okay So this is this is something that's extremely personal and real to me So I've seen one in my lifetime It's gone up one C in my children's lifetime in my children's lifetime It's likely to go up to one two or three even three C if we don't change course However, there is hope. There is structural policy hope here The Paris agreements aspirations are that we hold the increase well below two C heading towards one and a half However, the means of the Paris agreement, which is the nationally determined contributions Which are actually supposed to be actualized through national policies if they were all perfectly Implemented and stacked up would get us to about plus 2.7 C So we need a debt. We need a grand tightening of policy ambition if we're going to match our rhetoric here So that's a bad. That's the first wave of bad news. The good news is As Chad was just talking about we know how to do this There are technological and process options to basically carbonize everything the human being One way or the other Between bill transport buildings industry. I've spent two years working on how do you decarbonize steel cement chemicals? What have you? What and and land use and two weeks ago in San Francisco at the global climate actions summit SDSN held their low emissions solutions conference. I'm going to kind of weave in through some of their results To quote dr. Margaret Tarn. She was one of the organizers of that conference for any of our climate goals We must not only eliminate emissions from the energy system. We must repair Preserve and enhance the land emissions sink and what that means is is that we have to completely change how we relate to? The to the global land base we have to allow it to come back into its more natural mode of Taking down carbon from the atmosphere not putting it up not putting it up up into the atmosphere It's about a third of what's added into the atmosphere each year at this point in time now You've probably heard a lot of stuff about energy as as agreed I was saying and you know the first The first and easiest thing is to be more efficient if you want We've got to be dramatically more efficient at least 50% across the board and it's not just a traditional way of thinking about efficiency But it's moving more towards a principle what we call circular economy So it's you know, we design things better We design them to last longer when they do finally wear out We design them so that they can be recycled and the materials can go back through the system much more easily We very much have a system right now where we take raw materials. We put it through a productive system We contaminate those materials in the process and then we're living with the we're living with waste It's just not that useful afterwards. So that hope that whole system has to change But more than that and this is where things get this that's the easy stuff dealing with the energy system material system We need to learn as a global society to manage land like currently We're still living with a very old paradigm of land where it you know nature gets torn out You you move in you build something there and that's that's how you adjust it and there's still this concept of wilderness It's not thought of basic. It's our basic. It's it's a support system that keeps us all alive one one way or the other Yeah, and this to be honest I think this is going to be one of the great tasks one of the great occupations of Basically from 2050 on basically out into foreseeable human history It's a closed planet and the people who will be doing that will be will be very up high up in our organizational food chains Now and this is this is where things get a little dicey and with more uncertainty Given how much carbon we've dumped into the atmosphere and has been taken up in the oceans and resulting in acidification Is we're going to have to engage some technological negative emissions processes And this is where the nexus with the rain gets really tight in that the one process We know will work is that we burn woody biomass We take that waste and put it underground using carbon capture and storage it works But it's going to come directly into conflict with our food needs with our biodiversity needs what have you and how we balance that Nobody's done that before we know it can be done, but nobody's gotten into the deep politics. How do you how do we do that? So the bad news again more Is we're having like we've got all these options We're just having a lot of difficulty implementing policy to drive to drive them to make them happen And frankly, I think it's because we're approaching it from an ad hoc perspective Focusing on costs and not benefits anybody starts talking about climate policy cap and trade Oh, it's going to be half a percent of two GDP 1% 2% of GDP We're not focusing on the benefits more than enough studies have come out that just the air quality benefits alone Will pave for a limit for cleaning up the energy system for cleaning up the transport system and To great positive benefit to people mainly in the developing world mainly in large cities We're going to need to focus at the national state and city levels We're going to have to create realistic transition plans and full some integrated policy packages that work with Not against national development goals. The moment climate policy comes in collision with economic development Climate policy loses. This is what happens everywhere That the two things have to come together and we need to reframe climate policy Not as at this environmental add-on but security. It's a secure. It's it is a security issue Taken to its nth degree given the water land agriculture and like agriculture impacts of going to to see and beyond It's likely to generate the largest refugee crisis in human history. It makes it'll make Syria look Like something on TV. Okay And so it needs to come right to the top. It can't be the fifth and ninth thing that we consider And frankly, it's not right rocket science, but real hard serious real politic work So in order to get this done every jurisdiction needs to declare itself for net zero emissions Not minus 50% not minus 80% but net zero and by 2060 to 2070 within the lifetimes of most people in this room It needs to be something that we will all see for it to be effective And there are places that are doing this California brought in their executive order a GCAS New Zealand has announced this and It needs not just to be a goal But something that is produced with it is pursued with zeal. Okay, so New Zealand Sorry, Costa Rica the United Kingdom New York New England the C40 cities They're all they've all brought in thoughtful policy packages to bring on physical decarbonization Now these policy packages they're every it's going to be different for everywhere. They're gonna have to be effective at what they do They're gonna have to use the least caught least resources possible, which is why economists push carbon pricing But again carbon pricing sometimes not politically effective which pushes us back under to regulations But most important and this is this is where the consideration of the national political context comes in They have to edit these policies have to anticipate the needs the potential Opposition of the actors who need to actually implement those actions and might block it if you don't think about who this is going to hurt They're gonna come they're gonna stop you they will and I've literally seen almost three cap and trade systems in Canada fail Because the the industries that were most effective and they were not that big it from employment level even out Even a GDP level they came out hard because they felt threatened if this is gonna work They have to be in the conversation to begin with and they're gonna need the help with innovation and a jet and transition In order such that they don't they come out full in opposition against you So you're gonna have to bring in your governments your communities indigenous peoples firms Labor environmental organizations civil society. They all have to have a buy-in to the transition plan Again, we're gonna need a whole suite of things. It's gonna depend on the context regulations carbon pricing It's good. It depends on the actor for Innovation responds really well to pricing firms respond well pricing household Households and the transport and building sector don't you might as well just put a regulation on the sectors because you could put carbon pricing to the roof And they will not change And you're gonna need institutions to support all the above and especially in an oversight institution that measures project progress and adjust policy if necessary Yeah, I'll So anyway to come around to this The net zero goal is fundamentally is fundamental to making this happen and it's being part of the conversation I'm from Canada I'm sure you've heard of our endless discussions about pipelines oil sands What have you and how they've spilled over into the discussion down here, but frankly? I think the reason we've been struggling with Understanding the tris transition away from oil production despite the relatively green nature of our culture is that we haven't been given a Crea a real frame our oil and gas industry which has invaluable Industrial chemical knowledge for the net zero transition it need it needs a clear investment horizon It needs firm regulatory signaling as to what it needs to achieve over the coming decades. So to summarize There are clouds on the horizon, but there's also hope We have lots of examples of good policy occurring around the world things that things that we can copy and experiment with and Despite the clouds we're dealing with a I'm gonna choose to believe and follow that hope. Thank you Thank you so much Chris for weaving all these pieces together. I think that's it's really critical We need the technical solutions that Chad is outlined. We need to think about the trade-offs that Claude has emphasized, but really weave it together not just an analysis But also in a framework for engaging the different partners in in society Katie Gary, thank you so much for braving New York traffic on this day thanks to NO for the partnership in in Developing the low-emission solutions conference you head of regulatory affairs here in North America. What is your perspective on? The question of decarbonizing the energy system and to what extent is a nail considering land use as Part of this strategy to what extent does this play into your day-to-day strategy and operations? So first of all, thank you for having me here Apologies for the delay in my arrival Amtrak and the West Side Highway and NYPD had other ideas on my arrival Yes, I'm Katie Geary. I am head of regulatory affairs in North America for NLX NLX is one of the business lines of NL group that is active here in North America My other job is I am a mom of three young girls Like to mention that my team is actually in the middle of it where the rubber hits the road We handle regulatory advocacy on behalf of NLX at the wholesale level for in federal jurisdiction And at the retail level at state jurisdiction So we are in front of regulatory bodies and agencies arguing for proper energy and environmental policy Where we focus on in an LX is the customer end of the spectrum Just to give you a little bit of background on myself. I've been in the energy industry for about 15 years I started off at an oil company. Some of you may know Hess At the time it was Amarata Hess a while ago I've dealt in all different commodities natural gas electricity fuel oil products and now demand response Which has been the focus of my efforts over the past five years As I said, I'm the head of regulatory affairs for NLX North America But that's actually technically occurring on Monday for the past five years I have been in the same role, but I've been working for a company called and or not We have been the global leader for demand response The reason why I am up on this panel is because of that proliferation of demand response That we have helped incentivize worldwide, but particularly here in North America So what is demand response? What our company does is we work with commercial and industrial customers to accomplish What was just referenced Identifying better processes greater efficiencies new technology that can be utilized at customer sites to better use and Purchase their energy needs Demand response with the capital D and a capital R is a program or service for which our customers get paid To do one of the best things in relieving the stress on the energy grid Which is to turn their electricity off or to turn it to something else? These are typically in situations of emergency or grid stress such as a line tripping or a generator going out such as which Happened several years ago in something called the fuller vortex. Typically. It's been seen as a summer product where system Conditions reach peak conditions over the past several years We have demand response. I should say has been a resource that has led to the Fortunately led to the retirement of some very unnecessary for a inefficient very dirty peaking generation systems across the United States So demand response has been a direct way for customers to engage in the markets and Effectuate change on emissions in the North America. So Why does my description of enter knock and what we do with demand response and what with our customers? Matter for this panel and how does it play into why NLX bought us? And that's one of the questions posed here is does the utility business model need to change? and NL groups purchase of an or not is exactly What needs to happen with the utility business model NL group for those of you who are not familiar My bosses have told me we are the largest utility that you've never heard of We're up here. So now you have heard of us In North America The NLX business line is relatively new. We have been active here for several years as EGP and we are a renewable developer And operator We have wind and solar and hydro assets across North America green powers and a global company But we have a rather healthy footprint in North America We also have a division called thermal generation which has historically housed and L's Fossil units we have self-imposed retirement deadlines on ourselves for coal assets in our fleet Globally And interestingly what we are doing with that thermal business unit is we are replacing it with storage resources They're not thermal But that is what is going to happen in the markets as we evolve away from these thermal resources What do we need in order to move toward renewable resources? Storage is the key when I started in the energy industry 15 years ago One of the reasons I was told the electric market was the way that it was and it wasn't like the natural gas market is because you can't store Electricity it's constantly moving that has changed and that has been a phenomenal technology change that is going to facilitate increased transition over to renewable resources So I said and now Has a mentality toward their utilities. They're very forward-thinking. They recognize that the old system of Lots of wires Distributing power from very large central and often dirty Generation plans is not what is going to happen in the future What we're going to see is a lot more Distributed resources across the system now in the instance of renewable resources such as solar and such as wind which my company does develop Those are wonderful. They're renewable. They're clean an issue for the system operators with those resources is that they are variable They are at times unpredictable Although the ability to predict the output of those resources is increasing the reality is that the wind doesn't always blow and the sun Doesn't always shine so it's been very difficult to integrate those resources into the wholesale energy markets in an effective way from an economic perspective as it pertains to Other generation resources that we may not need anymore, but that are still sticking around The reason why demand response is important It is because it is allowing Customers to meet the variability needs that are occurring on the system from these renewable resources And that is becoming even more possible with the reality of storage And now as I said an L group has a business line focused on storage the idea is it's going to replace our thermal business fleet At an LX and so those are front of meter resources very large where we can store electricity on the system Or in some instances at a solar or at a wind facility, which is phenomenal At a customer level from an LX perspective we view demand response as somewhat of a Gateway drug if you will in the energy industry Customers get paid to reduce or to eliminate their electric consumption That's not political that is a massive economic driver And what we have found with customers is interestingly enough when you pay them to pay attention to their energy consumption They become more engaged they become more intelligent and now they have money that they can reinvest in their companies And they can reinvest in greater energy efficiencies just as to give you an example One cold storage unit customer that we worked with in going into their system and identifying Efficiencies and adjusting when they used their electricity Overall they actually started using more electricity But their costs were going down and they were using at times When the system was less stressed, which is putting less pressure on the dirtier older generation plans so an LX as I said is part of the transitioning business model that an L has worldwide it is taking our internal utility wires and Generation development experience and translating that to the customer level the key Component to all of this is going to be digitization We cannot connect all of these moving pieces and all of this increasing engagement and intelligence at the customer level without the technology to support it and to Communicate that information. I have to tell you that I feel like I'm at a very exciting time in doing What I do in this field as I said I started off working for an oil company I do something very very different now, and it is very exciting. It is very politically driven. It can be at times Very aggressive. There are Incumbent economic and job interests of companies in this country that are real and that do need to be considered And that is why we believe demand response and the utilization of DER's distributed energy resources at customer locations is so key to facilitating the transition over to a low-emissioned world I think I've covered the majority of the topics that I want to cover. Thank you What I what I take away from what really all of you have said is that we have the we have the solutions on the energy side But there clearly are massive design challenges and design in a broader sense of understanding the trade-offs unintended consequences of Getting a pretty a shared political vision and of implementing this challenge even at the business level Let me maybe just in closing just share another design challenge that that we at the SCSN have been working on With Chris we've been fortunate to work on the energy pathways for deep decarbonization There's of course the question of what you do in a land use side Let me just share two two examples that we have encountered this There's one very large country that has recently instituted a large-scale biofuel policy in order to increase Incomes for farmers, but also to reduce greenhouse gas emissions Now you would think that that policy would have been looked at also from a food security perspective from a water perspective from a biodiversity perspective and other Challenges on the land use sector, but that wasn't the case because the country actually lacks the capability to even to us These questions quantitatively into and to see if we do this what might happen? Take another country a very as much smaller country highly developed the country had a very stable land use Management system and all of a sudden I could completely appended Because one of its major bilateral trading partner started to import very large volumes of dairy products So dairy the dairy industry literally exploded and had a lot of massive negative Implications on land use and completely changed their trajectories on on future Emission reductions and I mentioned this because we're doing with Columbia University What would one of the one of the world's leading universities? And this is these are just too often I could I could give many more indications of how we are currently designing and developing Policies at the national level without even a solid understanding a solid Rigorous analysis of what the implications might be we're literally flying blind on some of these things So the solutions are there, but we're just not putting them together and that's why We at the SCSN with many partners have launched a new initiative That's basically the sister initiative to the deep decarbonization pathways project We call it FABO FABO pathways for food agriculture by diversity land use and energy and one of the One of the earliest findings there is that the projected demands on a land sector in terms of negative emissions because you might know That the IPCC pathways the official pathways towards Decarbonization almost all of them assume that the land sector will generate large-scale what's called negative emissions So you grow the trees you cut them down you burn them you sequester the co2 Well, you capture the co2 that comes out of it and you sequestered in the soil So you so you see actually remove co2 from the from the atmosphere and we're seeing No shred of evidence that this is feasible at any significant scale. So that's just another Another indication of another illustration of a kind of complex design challenges that we need to solve and if you're if you're a student Within with the intention of or with an interest in these issues I can really not think of any more exciting field both on the energy side. So the nl nlx and And the experiences from from EDF and others illustrate this but also on the land use system side So we really need to apply a lot more knowledge at these at these challenges We've run a little bit out of time. So we don't have time for for questions I would like to thank the panelists a little heartily for this for this for sharing these these very exciting Experiences and I'm afraid I cannot read what I am supposed to do there now. This is And of course, I would like to would like to welcome professor Jeffrey sacks to join us here on the podium Thank you Thanks to the panel for an absolutely wonderful discussion and we have a very exciting afternoon ahead so please Stay with us and we're going to be hearing from the president of Costa Rica shortly, which will be also a Great benefit for us. I I want to thank all the panelists for the wisdom and Try to summarize very briefly what I think are key key takeaways and key Key points Pointers for us. There's broad agreement. We need to get to net zero greenhouse emissions very soon and Essentially by mid-century. So decarbonizing the energy system and Changing land use patterns. So we get to net zero and perhaps in the future even net negative Shortly is is key and I think broadly agreed second to do that requires two prongs the energy systems change and the land use systems change both of those are Significant transformations they have to be done much faster than what would normally be considered Manageable because our backs are to the wall We've gone on for so long and so slowly in addressing this crisis that in order to honor the They're not even safe limits anymore, but the limits that are at least Potentially manageably manageable The Paris climate agreement targets. We need to move now Absolutely dramatically third These are systems they are not individual items and While there are many individual things that one can do they will only work in the context of systems and One can't even choose from a column individually and say I'll do this this this and this Because the pieces might not fit together or it makes no sense to add up individual items that way in a classic example of this is that you may see sighted many times converting to electric vehicles Doesn't make sense because you actually end up through the electricity generation Generating as much CO2 as you do from an internal combustion engine This is an example of non-systems thinking because we need to convert both to EVs or some equivalent and the Power generation together because that's the combination that gets you down to zero so taking just one item in the column won't answer the question and If you just make a list you'll double count many things also because you'll get more credit Then one deserves because there are many overlaps in individual items that in a systems manner would Not be simply additive so we need systems and I think to make systems change. We need planning Fortunately utilities do planning Politicians don't do planning but utilities do planning and so it's typical for utility to Have to look ahead in 20 years But typically utilities in this country and in most countries have looked ahead only with regard to one item Which is can we meet capacity? Can we meet peak capacity? Can we be reliable without brownouts or blackouts? But that's not the question anymore The question is how do we change the system to meet what will be the needs but with Decarbonization, but that's a planning problem fundamentally. It's not a market problem fundamentally. It's how to implement a system That it can make this work of course, there are companies in the midst of this and They need to make a profit and our utilities Have Even legally scorecards and benchmarking you have to provide the lowest cost Energy and so forth. These are antiquated ideas But they are on the books and so one needs patch ups carbon pricing and other solutions In order to make these systems changes work in an effective manner and this again requires a comprehensive view It also will require a change of the standard operating procedures all Systems have SOPs and SOB's by the way, but they have SOPs They have standard operating procedures and we need to rewrite the rules And that's what nlx was saying right now is you're helping the companies rewrite the rules of how their standard operating Procedures work their business models. It's even more complicated now because the usual assumption that you're either a buyer or a Supplier of energy no longer applies in modern technology You can be on both sides The idea that you have a certain diurnal cycle of energy no longer applies because you can shift forward Or backward during the day with sophisticated Internet of things technologies to be shifting peaks and changing diurnal or even seasonal patterns of energy through smart use One more point that I would say is this planning is more complicated than usual because it needs to be done on a regional scale Even a global scale Regional by that I mean the US cannot solve its energy problem without cooperating with China with Canada and with Mexico The US Northeast requires Canadian hydropower as its best solution. We need high-voltage direct current to carry power from hydro in in Quebec down to the US, but we can also use the same lines to carry excess wind power from the US Northeast to pump hydro storage in Canada the point is Regional integration is key Countries that don't even deal with each other very much right now India and Pakistan if they got together could have hugely beneficial energy systems resolution by joining together China has an even bolder vision, which they call GEI global energy interconnection, which is to connect the whole world's renewable energy Through long-distance low-loss transmission. So I think the point is we need the engineers We need first-class technology. We need planning We need to understand what our specs are of this system Which is to get down to zero by 2050 and then we can put the support structure of pricing and regulation Into that in order to make this work I think I would take that as the gist of what we've heard today as Gito said just now we need students to do the work So all over the world Get out your notebooks get out your computers start making the plans to 2050. Thank you


This is stock number AT328B. We are here at Summit Automotive in Fond du Lac, Wisconsin. You're new and used light duty truck headquarters. Today we are checking out this super clean 2011 GMC Sierra 1500 crew cab short box. This truck has the 5.3 liter V8 motor. From this HD video you will be able to tell that this truck is extremely clean all the way around inside and out. Summit white is the color. We shoot all of our videos in 1080p 60 frames per second so if you have HD capabilities on your computer tablet or smartphone device turn them on right now because it is like you're right here looking at the truck with me and definitely your best way to check out the vehicle before seeing it in person. If you want to check out more pictures of this truck in the upper right end part of your screen is a link to our website. Click that to check out more photos. Has the factory alloy rims with the chrome covers. Bridgestone Duler 265-65 R18 tires with about half the tread left. Framing under bodies in pretty nice condition. I didn't see any major dents on that front fender. Headlight lenses are nice and clear. Front bumper is in exceptional shape. No major dents or dings on that. Factory fog lights. Passengers side fender. No dents or dings on that. And the passenger side rim. Pretty nice condition as well. As you go down this side of the truck you can see just how clean the body is. How reflective and mirror like that paint is. We take these HD videos so if you are far away or even if you're close by and just can't make a trip down you can still see the truck here the truck and have confidence in the vehicle that you're looking at before you even get here. So that when you do get here there's no surprises. In fact we offer a Summit Fastpass option. Once again in the upper right end part of your screen a link right to our website for that. Where you can appraise your trade. Calculator payments. Apply for financing. And basically do your entire deal right on our website so that when you get here all you have to do is take a look at the truck. Drive it and love it. And then take it home. Back tires have just as much tread as the front tires. Has the plastic wheel well liners. Fram and under by is pretty nice. Has the Z71 shocks. The wheel wells look pretty good. This is why we do these videos you know this is a 2011 so it's almost nine years old. So it's not going to be perfect but on used vehicles you're more concerned with if it's got a rot or you know if it's all beat up. This one's in really nice condition. Back up parking sensors. Full towing package which includes receiver hitch and seven pin wiring. Has a roll up soft tonneau cover that's in really nice condition. I didn't see any rips or tears on that. Locking tailgate. Spray in bed liner. The bed's in really nice shape too. Didn't see any dents or dings in there. And it's even sprayed on to the tailgate here. This does have a backup camera in the rear view mirror.  This all has a lot to do with these mud flaps. If you get a truck I always recommend putting mud flaps on. It's going to keep your lower rockers looking good and definitely help you hold the value of your pickup truck. Back rim is in excellent shape as well. And down the rest of this side of the truck very nice and clean. I didn't see any dents or dings on the doors. Now this one has aftermarket telescopic toe mirrors. These were put on by the previous owner. So these little LED lights do not work and they do not power fold in. But they do telescope out and the directional signals do work in these. They also fold in like so. Now we have the factory mirrors that go on this truck. And I got those in a box right in front of that truck over there. But they do come with the truck so if you didn't want those toe mirrors you could definitely swap them out for the factories. And then your power fold-in feature would work. It has the heated black leather interior part of the SLT package. You get the all-terrain floor mats, power windows power locks and power mirrors, heated driver seat, memory driver seat, factory brake controller, auto headlamps and turned-out four-wheel drive. As you hop inside the truck here you can see that this one has 73,046 miles. You get the Z71 instrument cluster right there. You get the leather-wrapped steering wheel, Bluetooth and audio controls on the right, cruise controls on the left. This one has the six-speed automatic transmission. This one has a Pioneer AVIC 5200 NEX receiver with the CD player. It also has navigation. I believe that's by Garmin on there. Dual climate control, power pedals, a USB backup parking sensors. You can turn those off and stability control. Now your backup camera shows up in the rearview mirror right there. You also have on-star capabilities right there in the mirror. Sorry if I got a little close there. You have your homelink buttons for your garage door security systems and lining systems. Up here you have your controls for your power sunroof and your power slide in your window. Speaking of that power sunroof, that's a nice condition. Really nice feature and the headliner is in nice shape as well. Coming down on the passenger seat here. No rips or tears on that. Truck smells very clean inside. I don't think it's ever been smoked in and it does have the all terrain floor mat on the passenger side as well. We'll take a quick look at the back seats and then we will check out under the hood. The back seats are just as clean as the front seats. No rips or tears back here. It does have that latch child safety system for your child car seats and the power sliding rear window. Very clean. Like I said, no rips or tears back here and these seats do fold up for extra storage. Looks like it has a insert for the front center console in here as well instead of the cup holders and you get the all-terrain floor mats back here as well.  Look under the hood. I would personally like to thank you for checking out the video today and hopefully from this HD video you have been able to tell just how clean this truck is all the way around inside and out. Under the hood we have the 5.3 liter V8 engine. Engine bay is very clean. The engine itself runs very smooth. This truck has been fully safe and inspected by our service shop. Has a fresh oil and filter change. All the fluids have been chucked out and topped off. The truck has been gone through mechanically 100% and is 100% ready to go. To see more pictures of this truck or one of our other 450 new and used cars, trucks, SUVs, minivans, wranglers, half tons, three quarter tons, one tons, you name it we got it go to our website www.summitauto.com. Full pictures and descriptions of every single vehicle that we have all at www.summitauto.com from two locations. If you'd like to check out more HD videos you can go to www.youtube.com slash www.summitauto.com. Remember to like, subscribe, and share on this video and all the videos that you see there and in fact you will see a link to more used half-toned truck videos like this one on your left and if you haven't been to our website on the right a link to this vehicle on our website click that check us out and then you'll have noticed on the bottom right hand part of the screen is a link to subscribe to our channel so click that and do that and we really look forward to help you with this super clean 2011 GMC Sierra 1500 crew cab short box SLT all-terrain thanks again


So we have seen the overall energy scenario, we have also looked at different ways in which we can do the energy economics calculations for projects. Now we are going to look at energy resources. So when we talk about energy resources, there are some questions which you may want to think about. We have heard, you might have heard the term peak oil. So what is this term peak oil? Do we believe in peak oil, peak coal, peak natural gas? We all know and we have seen in our overall energy balance where we look at India or we look at the world that predominantly today our energy use is based on fossil fuels. So the question that we want to ask is, are fossil fuels depletable? Will their consumption decline? How soon will they decline? How long will the fossil fuels last? And so this is some of the things that we will consider. We will, when we talk about resources, resources can be energy resources can be stocks or flows and in the initial part we are going to talk about resources which are stocks. Stocks means that they will be, they can be stored, they can be transported and then you have an estimate of how much we have, how much we have in terms of the resource and how long, how much are we using annually. So we want to get an estimate of how long that fuel would last. So if you see there is this interesting quote from the Saudi Arabian oil minister who said that the stone age didn't end for lack of stone and the oil age will end long before the world runs out of oil. So the estimation, the earlier calculations were where we would try to see how much stock is there, at what rate are we using that stock and estimate how much time it will take. And what has been said here is that it is all about dynamics, prices, substitutes and it is not necessarily about these estimates. However, it is still worthwhile to see traditionally we have these concept of the geological resources and reserves, how do we characterize it, how do we estimate how much time it will last if we have a certain consumption rate. So we have, this is the McKelvie diagram, this is the diagram which was used and this shows the, this is the basics by which we classify the resources. So typically what happens is when we talk about fossil fuels or we are looking at materials which are stocks, we look at some areas where we have done some extractions and we know that these are the, we have the, in the case of oil you will have a oil well dug and you will find that there is this percentage of concentration and it is viable to take the oil out. So that would be something where you have actually conducted explorations and we know that this is the kind of, in this situation we have the reserves. That means the reserves are known quantities and this could be which have been already measured. So this is called proven and then there is a second portion where you have done some sample wells and you know that the, that whole area has similar kinds of rock formation. So those will be called indicated and the third one is in similar areas and similar formulations we expect that though we have not done any exploration we think that it could be inferred that these will also have. So whenever we have these estimates it is given in terms of proven, indicated and inferred and the probability of occurrence is highest in the case of proven we have actually measured and quantified. So we are quite sure that this is existing, indicated with some lower probability and inferred with even a lower probability. So this is in terms of the resource. Now there are also other undiscovered, there is this whole set where there are other undiscovered resources and which are hypothetical, speculative and also in these there are two axis, one axis is in terms of the probability and the second one is in terms of the economics. So reserves which are easily extractable with higher concentrations, the cost of extraction would be much lower so they may be currently economic. As the technologies change things which were not economic earlier can become economic. So this, the between reserves there is this concept of reserves and resources, resources may be in known occurrences but they are currently not economic to extract. So resources is a slightly larger term which has a larger value and resources is. So this concept of resources and reserves is shown in this classification which is the McKelvie diagram and this is how it is plotted with the kind of increase as you go down, as you go up it is the more economic, the costs are lower and here this is the highest probability and lowest cost and then you go for lower probabilities on this side and you have higher cost going in this direction. So there are two kinds of beliefs about resources, one is that if we look at a finite amount of reserve which is there in the ground and if we look at a finite amount of reserve and we know that we have a particular kind of extraction pattern, we can estimate then how much time that extraction will occur. So if we have a finite reserve and we are talking of a stock, if we have a production in a particular year and we have t is a time and we have p and we say that okay, let the production be constant at the rate at which it is being consumed, then if we look at this area under the curve, this becomes the static, we define a static r by p ratio or the r by p ratio which is simply divide the total amount of known reserve and divide it by the production in a particular year assuming that it is constant, this will give us the number of years at which the resource will last at the current level at which we are consuming it. In many cases as we know the population grows exponentially and the requirement for many of the fossil fuels, coal, oil, natural gas has been growing exponentially. For instance, if you take the example numbers, if you look at in India 1970, we used about 70 million tons of coal and in 2012, we used 557 million tons of coal. So you can see very clearly that there is a exponential growth, so we are going to look at these following models, we will start with the static r by p ratio which I have already discussed. We will look at the exponential growth model and then we will look at logistic growth curve where we take the fact that the area under the curve is bounded and yet there is a finite resource and then we will look at Adelman's model. Then this is the definition of the geological survey, the identified accumulation that can be extracted profitably under present economic conditions, that is the reserve and resources are the reserves plus all accumulations that may eventually become available, they may be today undiscovered but discovered but currently not technically or economically viable. So resource is greater than the reserve and if you see, I told you that we are going for an exponential growth rate for coal, it has been growing exponentially and if you see from the early years and this is the kind of growth. Just to give you an example, as we said, if we take 1970 and 2012, we can find out what is the growth rate, we can just take 557 divided by 70 and calculate the compound annual growth rate, now 70 to 2012 is 42 years and you will find that this G corresponds to roughly 5% or 0.05. In the recent past, you will find that coal has been growing at 6 to 7% per year. So the question is that if we think in terms of an exponential growth, then obviously instead of the static R by P ratio, the number of years for which the coal will last would be much lower and we can do that calculation. Just to give you a sense of it, if you look at the coal mines and the coal resources, you find that most of our coal, little bit in the central area and the significant proportion in the east, these are where the coal mines are there, there are some in the northeast, there is some lignite here in Tamil Nadu and some other things, but this is where the distribution of the coal is. So from the integrated energy policy document, this gives us a sense of what are the reserves which was there in 2003, 2004, you can see that the reserves were talking of 34000 million tons and the production was 414. If you divide these two, you get a R by P ratio of about 80, if we took proven plus indicated that R by P ratio goes up to 140. That means that at that level of production, this will last for about 140 years and similar things can be done for oil and natural gas. If you update these numbers, you can see that this is the number that you have in 2013-14 and we can calculate the R by P ratio for this. From the GSI, if you look at it, you will find that over the years, the proven reserves also keeps increasing and today if you see in the 2018 values, I think it is of the order of about 148000 million tons. So if you took 148000 million tons and if you look at this number of 148000 million tons and you divide that by the annual production, 148000 million tons of coal, annual production roughly about 600 million tons of coal, the number that we get static R by P ratio is about 200 years. So we have a reasonable amount of coal, though it is low grade coal and of course as we have seen there is a problem in terms of the CO2 emissions and so people we are talking about not using the coal. So we would like to see now if you have an exponential growth rate, how do we make this calculation? So that means we are talking of let us say that this is growing at 5%, then what will happen is in the first year we use P, next year we use P into 1 plus G and so on, P into 1 plus G raise to n. We want to find out n, the number of years in which the resource will get depleted. So that means here instead of that static we have P and this is Pt by T. So of course you know that area under the curve for an exponential curve is not bounded, but if we have a finite reserve then this is R and we want to find out what is the time when this gets sort of cut off, right. So we have already calculated if it was a static then it lasts for much longer. This is 246 years is what we had calculated. We want to now calculate what is this value, right. So in order to do that calculation we will take total reserve will be P, P1 plus G raise to n. So we can multiply this R into 1 plus G, it is simple actually it is just a geometric progression. So 1 plus G raise to n plus 1, we can take 2 minus 1 and we get R1 plus G minus R is equal to P1 plus G raise to n plus 1 minus P and this is nothing but RG is equal to P into 1 plus G raise to n plus 1 minus. So R by P is equal to 1 plus G raise to n plus 1 minus 1 by G. Now if you look at this we want to calculate n, this is what we want to calculate, we want to calculate n, we know R by P and we know G, we want to calculate n. So let us take this and all that we need to do is we take R by P into G is 1 plus G raise to n plus 1 minus 1, 1 plus G raise to n plus 1 is equal to 1 plus G into R by P, take natural logs on both sides. So we get n plus 1, ln 1 plus G is equal to ln 1 plus G into R by P. So n is equal to or n plus 1 is equal to ln 1 plus G into R by P divided by ln 1 plus G. Now let us just plug in the values for the numbers that we had, we calculated for India for coal that R by P ratio was about, was 246 and we said that let us consider a growth rate of 5 percent, we can of course take a higher growth rate. So we can suppose we take 5 percent then n plus 1 will be ln 1 plus 0.05 into 246 divided by ln 1.05, you can calculate this, it turns out to be ln, this is 2.59 by 0.049, it turns out to be 53, so n 52. So we of course, if we see the time which we are talking of in this is going to be lower than the time which we had calculated for the static R by P ratio. If we instead of 6, 5 percent if this was 6 percent then you will find that the life will, n will decrease and then turns out to be 47 years. So remember we talked about a static R by P ratio and we also talked about the ratio if we are going at an exponential growth rate. Now in actual practice what will happen is we expect that the pattern will not be exponential and suddenly coming to 0. So we expect this is similar to what Adelman had done but we have also, this has been also done by Hubbert who was a geologist and he proposed the method, it is called the Hubbert model.