Welcome everyone. Good afternoon. We are delighted to be here today at the council on Foreign Relations where we have the opportunity to discuss with president kim of the world bank the next steps for International Climate action. Dr. Kim became the 12th president of the world bank in 2012 after a career in development and medicine. He served as president of Dartmouth College and a number of medical departments and cofounded partners in health, which now operates on four continents. His work has earned him wide recognition. He was awarded the mccarthurs genius fellowship in 2003. He is one of americas 25 best leaders. In 2005 and Time Magazine named him the 100 most influential person in 2005. He will be discussing Climate Change. With that, dr. Kim. [applause] thank you very much. And i apologize for the delay. We had his royal highness, the prince of cambridge here and was just across the street talking about crups and we had security issues. I apologize but im very glad to be here. First, i would like to thank the council on Foreign Relations for hosting this event and thank you, mark, for your very kind introduction. It has played an Important Role in Climate Change and environmental preservation issues worldwide and your leadership has taken it to even debater heights. And given the time you spent in the financial world, you will know one of the themes of my talk today, which is that Economic Policy is the key to mobilizing a coordinated Global Response to Climate Change. I cant attend the 20th conference of the parties to the u. N. , but i will be watching closely as the delegates set the stage for an agreement to be reached in one years time in paris that should transform the way we live for generations. At this key moment, im pleased to return to the council on Foreign Relations to share our vision what an agreement would look like. It is a fundamental threat to development in our lifetime. We know if we dont confront Climate Change, there will be no hope of ending poverty or sharing prosperity. The longer we delay, the higher the costs will be to do the right thing for our planet and our children. Our cities have turned down the heat reports and work on green growth and the list between development and climate made clear that the progress of ending poverty is at risk. Last months points were talked about on the Intergovernmental Panel on Climate Change. This unprecedented Scientific Consensus concludes if we are to stabilize Global Warming and the International Community agrees, we must achieve zero emissions of Greenhouse Gases before 2100. The International Community will have the opportunity to send a clear signal that we, as a global community, are determined to manage our economy to zero emissions before 2100. Every country finds itself at a different point in the development journey. Therefore, the pace and rhythm of their Emissions Reductions and adaptation will vary. Nonetheless, we have the opportunity in paris to make clear our collective ambition. That ambition can be for cleaner growth and increased commitment to adapttation. The higher the ambition, the greater demand for programs and projects that will transform economies. It will send a strong message to investors about the demand and possibility of longterm investments and clean energy in transport systems, Sustainable Agricultural and forestry and new efficient products. Paris must be where we make the rallying cry for effective management of local, national and global economies to fight Climate Change. Many observers expect an agreement in paris to be comprised of a number of essential components. Each must reflect an ambition equal to the challenge before us to send a powerful signal to economic actors around the globe. The parties must include binding language that should reinforce our collective ambition and a Clear Pathway to zeronet emissions before 2100. Individual country contributions with policy packages that should address how to use all available fiscal levers to get prices right, increase efficiency and incentivize decarbonization. Three, a financial package that recognizes that Climate Development funds should be used to innovate financing. Financial flow cannot reach the levels we need in the necessary time frame without some form of Network Carbon market based on the markets mechanism, taxes and environments we are beginning to see introduced all around the world and timely, working coalitions of private enterprises, countries, cities, moving forward with where it must be enhanced. Unlike treaties in the past, the Paris Agreement must speak loudly about transformation. Let me me say a few words about effective management and what we hope to see of the intended nationally determined contributions that will set out each countrys commitment at paris and beyond. We understand that many clients face huge challenges and many countries will reach their own peek emissions at different moments. Managing the economy to ensure that they can, for example, decarbonize the Energy Sectors over time and having the energy they need for development, constitutes a challenge no developed country has had to face as it was industrializing. Nevertheless, every country can strive to effectively manage its economy and decarbonize and boosting economy. It means strong policy signals that makes clear longterm goals. Carbon pricing. And removing subsidies that are harmful including fossil fuel subsidies. All countries should commit to put a price on carbon. Its a necessary if not sufficient step in any journey to zeronet emissions. It can be discovered by taxes, Market Mechanisms and whatever mechanism they choose, makes the pollution we dont want more expensive and incentivizes clean production. It can raise revenues and can be used to generate more economic benefits. We can do this moving from taxing the good to taxing the bad. To reduce labor and investment taxes and encourage job creation and Economic Development and Green Technologies through research and development subsidies. The example of British Columbia is one of the most powerful. It is neutral to the taxpayer. Its not an increase in tax. The government promised household it would not increase the tax rate. Taxes on labor, for example, were reduced. Introduced at the height of the financial crisis in 2008, the carbon tax has risen from 10 Canadian Dollars per ton to 30 Canadian Dollars per ton. 300 million Canadian Dollars in personal and business tax cuts. British columbias g. D. P. Has outperformed the rest of canadas introduction of tax. Other instruments need to be mobilized to redirect investments toward Clean Technologies and sectors. Stepping up drivers of Energy Efficiency is an obvious winwin that can deliver benefits. Strengthen performance standards can help achieve efficiency gains in buildings, transport and industry. Such measures have the potential to reduce greenhouse global gas emissions 1. 5 gigatons by 2020. Specific efforts are needed to specific efforts are needed to scale up Energy Technology at a pace that allow us tower reach carbon neutrality. Investment in infrastructure will be required. The electricity grids in many countries can with upgrades achieve much higher rates of efficiency. A huge opportunity in india and renewables can be allowed to be grid connected. Just this year, once the appropriate regulatory form and Grid Development had taken place, the private sector of the World Bank Group financed the first solar power plant in the phillipines. Removing harmful fuel subsidies is long overdue. There is 500 billion in subsidies that primarily benefit the better off by doing nothing to help the poor and the environment. These funds can be used in health and education or subsidize technology that can reduce emissions. Removing subsidies are in the basket of leaders desk. Brazil, indonesia and mexico are showing that shaving out fossil fuel subsidies can benefit the poor. A policy package that includes these components would give credibility and predict that all investors and consumers need to change their choices and behaviors. Including these would demonstrate the commitment of every country to play its part to move to a carbonfree economy and lay the pathway for essential work before they come into effect in 2020. Effective management of the economy means finding ways to find waist to invest more. The contributions of countries must address adapttation. Governments must implement the policies needed to strengthen resilience and ensure Development Takes into account climate risks. A Central Government support and encouragement for cities to transform themselves into being cleaner and more liveable can be bringing more rewards. Safe locations and transport planning, improve resilience. And finally, we hoped they will lay out clear policy frame works for our forestry and agricultural. If countries can offer contributions, the signal to economic factors will be strong. But for these efforts to bring us to zeronet emissions we will have to find financing. It is the critical component of a Paris Agreement. This compelling evidence suggesting that a country use their regulatory capacity to get prices right and use the instruments available to them, they will experience greater investment flows. Morocco adapted aggressive targets, lowered fossil fuel subsidies and attractive Legal Framework sm the country is becoming know as a solar power innovation hub. It grew from 297 million in 2012. Other emerging markets such as south africa are following with similar results. A Strong Demand from investors from greenclimatefriendly investments where investors have responded to the growing market. 35 billion in green bonds has been should so far this year and robust, liquid, green credit market is taking shape. It will be vulnerable. For these countries, public Development Funds and climate finance will play a critical role. In the future, these funds will have to be catalytic to serve the many needs that exist. Development finance has to mainstream adapttation to ensure effectiveness. There is no development outside the context of Climate Change. Investing on the slopes will ensure investments in agricultural productivity as farmers are quick to adapt to more intense rainfall. And investments in Educational Attainment will be protected as School Infrastructure is made more resilient to storms. Investing in man groves in vietnam may boost earnings. Each of these projects is a development project. Each would count as a Climate Investment. This is where longterm Development Finance and climate finance comes together. We have taken major steps this year to introduce disastrous screening. It is the fund for the poorest countries. We have developed adapttation plans in 25 countries. If they are found to be helpful, well expand the initiative. It is our hope that such countries can use this planning to develop their pipelines to the Green Climate fund. We know that climate finance will flow through many channels. We created the Climate Investment funds to Pioneer Investments in projects for Climate Change and learned lessons on how to optimize from gridconnected wind power in mexico to the first at scale concentrated solar power plants in mexico, to entrepreneurs in thailand. The projects and programs show how public funds can be leveraged and used by countries and the public sector. It is 8. 3 billion to generate another 57 billion in funding for countryled investments. Just last week, the contributors and other Board Members decided to extend the operations for two years and to ensure we can keep meeting countries needs. We welcome the fund and the initial pledge of 9. 9 billion it received. Its impact will be greatest if it uses this capital to get new investment in emission reduction. We look forward to leveraging g. C. F. Funds. A strong Paris Agreement will send immediate signals even though its component will come into force 2020. The other components must address the critical pressing needs to increase substantially our investments in resilience now. The economics are compelling. For every dollar invested, we can save 4 in relief. For every dollar in early warning, we can save up to 30. The cost of inaction are rising. Economic losses from Natural Hazards from risen from 50 billion to 200 billion in the last decade. Along with economic losses, insured losses have increased significantly. Insured losses from weatherrelated events are rising. The gap between overall losses and insured losses has been widening. Fully 75 of catastropherelated losses worldwide are still uninsured. We will use our track record to look for ways to raise a onetime injection of funds and strengthen Insurance Coverage and not wait until the next decade. Just as we cant wait, we should also not wait to act on other fronts. In recent years, we witnessed a new phone men none. Frustrated by the pace of negotiation and the difficulty of finding consensus among 193 members of the u. N. , coalition of stakeholders have pressed forward. On issue after issue, government and Civil Society organizations have found they can override the difficulties. These coalitions have paved the way for wider agreements and picked up the pace of data, evidencebuilding and action. This is what led nations and stakeholders to move forward to reduce the effort. It has driven the effort to drive out pollutants. And the development in africa of climateSmart Agriculture that keeps emissions low and feeds the worlds growing population. The Paris Agreement will recognize the importance of these coalitions in drifling action forward. Partnership in these coalitions has been fundamental in our exploration of new ways to support clients. Since i joined the World Bank Group 2 1 2 years ago, in addition to evaluating all projects, we have begun to measure the Greenhouse Gas emissions in key sectors and set an internal price on carbon as a guide. We are discussing the discount rate we used to determine how we measure economic benefits in the longterm and begun work. We tallied our finance with other Development Banks and we have as a group of banks developed a common way to measure mitigation achieved in our financing. We are about to agree on a common measurement for adapttation. We hope in the near future all of the Development Banks and the bilateral Financial Institutions gather in the finance club and will align themselves among common accounting. They make up a robust tool kit to understand the Carbon Footprint and give us important Management Information for project choice and design. It will help the International Community know that mitigation and adapttation benefits comes fromp channeling benefits. This will increasingly place a climate lens on our work in support of our clients and can be a way to support countries in implementing their defined contributions to Climate Change. At the World Bank Group we need to challenge ourselves and guided by a believe that our clients must succeed at reaching zeronet emissions. This will be a direction in supporting Energy Access for all and scaledup support. It will require continued support for clean transport and the development of the Green Building market. It means shifting our agricultural portfolio. And further financial innovation to get investments for low emissions investment. In the year between lima and paris, i intend to challenge to become longterm partners of choice in this world. I offer a spring and annual meeting to increase our ambition with finance ministers. We will support leadership of the g7 and g20 to ensure a Paris Agreement that will send the strongest signal possible. As head of the World Bank Group, i will drive our institution and capabilities to support the Development Transition that we must support together to the goal of preserving our planet for all future generations. [applause] and yet there was not such a clear enough plan, i thought. Shortly after you join the world bank, you said after thinking about all of your challenges, Climate Change was right at the top. Yourou share with us personal view of the Climate Change challenge, and also, how is it going . Are you encouraged, discouraged . You may remember in one of our conversations, i kept asking people, what does the plan. I said all the time, when i saw the degree of Scientific Consensus, i was amazed. I dont think theres anything in medicine around which there is that kind of consensus. So i think we have made a lot of progress. There is a lot of plans. For example, for me, the fact that we are so engaged in Climate Change and this is new and different and more actors coming on board. I was extremely encouraged on Carbon Pricing that we brought together for the u. N. General assembly and the agreement between u. S. And china is an extremely important milestone. Im much more optimistic than i was even a year ago. This requires so many changes and this is why, today, i wanted to bring home the point that Economic Management can have a huge role, because if we get this right and align the incentives, the market system will push us towards the targets we need to hit in ways that any amount of conscience or personal conservation just wont get us there. Seeing market signals and the price of oil has fallen 40 . Is this a plus or minus on the climate front . We are trying to understand it. We are trying to understand the impact of the lower priced oil. We work with net exporting countries and net importing countries. The jury is still out. But for me, whatever happens doesnt take away from the very real data that were getting out. I was reading an article and some of the new data that how quickly the glaciers are melting is very concerning. If you want to dispel any doubt you might have, go to the phillipines and talk to the people there. I think whatever happens with the price of oil, we have to just keep laser focused on what we need to do. If we can establish and move the fossil fuel subsidies and do other things that is part of your plan, Climate Smart agriculture and better funding for renewable energy, if we can just keep our eye on those things, the fuel subsidies are difficult but doable. The Carbon Pricing is going to be controversial. Renewable energy and efficiency, these things are nobrainers. We should do this no matter what is happening. Well keep pushing while at the same time watching carefully the impact these prices are going to have. I agree, there is a reason to be encouraged, but sometimes living here in washington, d. C. , i find the politics on Climate Change pretty discouraging. How does the discussion in the u. S. Line up with other parts of the world and are you encouraged or discouraged . I think there are enough very strong advocates for taking action on Climate Change. And i think when they got together and made this statement, that had enormous impact. I was at the g20 meeting and we had a discussion on issues related to Climate Change. I think the fact they are leading makes it very important. And i have to tell you the discussions are different in every single country in the world. Even when i started in july of 2012, the discussion in china for example has shifted dramatically. So i think things can change pretty quickly over time and i hope they do here as well. Same here. Lets talk about finances. The numbers are staggering sometimes. The estimates for needed funds for adaptation are so big. And how we catalog the funding . You talked about 10 billion leveraging up to 50. How does that work. How does those initiatives play out in the real world . We are looking at when i came to the World Bank Group, one of the first questions was, well, you guys are relatively small players. We are 65 billion but giving the infrastructure needs in the world that are not being financed is probably a trillion dollars. We are very small. We began thinking and always been in trying to do this to see how to leverage funding. Something we are calling the Global Infrastructure facility. We realize that the world bank has a lot of skills, a lot of experience that others dont have. For example, can we build, for example infrastructure that increases renewable energy, for example, in developing countries . We dont have enough money to do it. But if we were able to structure a deal that a pension fund might think of as too risky, but if we do the work and build in safeguards, can we with with a small investment crowd in other investors to get the infrastructure we need. Out of the g20 leaders meeting we got investment. And that is one example of how we are going to try to use project preparation is a huge example. New Development Banks that are opening up, but one of the things they are going to face is they dont have people with the collective decades and decades of experience inputting these projects together. We find that is the key. Putting the projects together is one of the most difficult parts. One of the things that the secretary general has asked us to do and by us, i mean myself, Christine Mccarthy and the other Multi LateralDevelopment Banks, he asked us to put a investment. So the goals wont be financed in the way that the Millennium Development geels were. They were declared and i thought it was a brilliant move. He said we need to focus. And first financing conference happened two years later. We are working to put together a plan to fund the sustainable goals. But this is not going to be a case where we just think about how to divide development assistance. So many things on the table that we have to be much more creative and private sector financing is going to be a huge part of it going forward. We are in the middle of doing it now. To give you an example, in the poorest countries, support for health care should be in the form of a grant but should it be fully in the form of a grant . Getting their tax systems in place. We are going to look at these Different Things together so the financing strategy will give us a shot at achieving all these things. And that will require us to be as innovative. Thats exciting. Lets hear from the audience. We have microphones and we are on the record and tell us who you are and who you are affiliated with. Im with the naval postgraduate school, this is very kiting to hear whats going on. Whats your Public Relations or communication plan to get everyone excited as you do and i assume as everyone now feels so we are behind you and i take this all the way down to childrens books. We had our children tell their parents not to smoke. One of the things that we realize in the social sector is we have not been nearly as good in the getting our messages across. There are great examples. I used to be a professor at the Harvard School of public health. There was an effort to get designated drivers into sitcoms that led to that becoming part of the discourse. And jay winston and a friend of mine, getting smoking out of television and sending messages and there are a history of messages thatville failed miss rably. But what the Advertising Industry keep throwing things up and if it sticks, keep going with it. We dont have that same mentality. We have to work on many fronts at the same time to make thinking about Climate Change and make thinking about conservation in the way that Marks Organization has focused. These things have to become cool. They are not quite yet. They are sort of crunchy counterculture, if you will. It has to be right at the core the way we breathe and the way we live. The big boost is to get the market signals right so they are moving in the same direction. Im extremely impressed with the private sectors embrace of these issues. Walmart needs food in order to continue to sell its products. Cocacola needs water in order to continue selling its products. The way private Sector Companies have come on board has been encouraging. What we havent gotten yet is their great, great skills about sending messages out about diet coke or whatever else they do. So i think this has to be at the top of our agenda. We have to be ready for when the next disaster hits. I think what happens, after hurricane sandy, everyone turned and looked at the Environmental Community and said, ok, we get it and whats the plan . Actually, we didnt have a plan. We didnt say heres the plan, one, two, three, four, five. I mean, what were talking about is not a less prosperous way of life. I think full of promise and joy as one that would be fully carbonized. Will davis with the United Nations development program. Happy birthday, president kim. And second, perhaps equally as important, certainly in the process, you are hearing a lot of countries bringing different perspectives to the table, cbdr, common but differentiated responsibility. Are countries reaching some Common Ground . I think that language is still there and has to be there. And i outlined it in my speech as well. You know, i have talked about situations of energy apartheid. Im just back from liberia and sierra leone, our failure to provide sufficient energy is part of the problem. We did not have functioning health care systems. We did not access to grids or even micro or mini grids. They did not have that. So getting information from the regions where ebola broke out. Look at ebola as an example of what it means when we dont take seriously our development responsibilities. I spent my whole life fighting hivaids and i never seen anything as bad as the ebola outbreak. And its the same problem. We have to get to zero cases for ebola in every single country while talking about zeronet emissions. Tackling these Development Challenges is not just about doing the right thing as nice people. For ebola, not having a structure in place that would have allowed us to immediately to this or any other outbreak, now represents a real Downside Risk not just to the local community if we cant get to zero. Climate change is another area where it represents a real Downside Risk to the Global Economy that is not understood. We are saying, look, we talk ar lot about looking at a banks assets. We are doing these studies of the european banking system, because those we know are real Downside Risks, but so is ebola and so is Climate Change. This is what we are trying to do right now is to make sure that poor countries have energy and we need to make sure that they do because its connected to things like ebola but at the same time we can push all developing countries and this is what im hearing from african leaders. They dont want to be on the side of the question just saying no. No. No. Its not our responsibility. I hear also very different attitudes and leadership from the u. S. And china has had a big impact. They know that even though we respect their need for energy, if we start saying you have to wait for energy because of Climate Change, then i think we will have real problems. Lets make it as renewable as possible and make sure you can develop just like all the other countries have and talk about your contribution to the battle against Climate Change, thats a conversation that started and conversation that has to grow in intensity between now and paris. Thank you, president kim, for your remarks. Suppose instead of you had the Koch Brothers and u. S. Congressional climate skeptic, what would you say to those people to invoke their selfinterest and the commitment you have shown to Climate Change . I try to this particular issue to say the same thing to everybody. And what i start with is that you have got to look at the science and the science is pretty astounding and the science is one that you really have to embrace it. And then after the science, i would invite them to travel with me to places that have been impacted by what we know is the number and intensity of extreme weather events is going up. I would invite to visit where i visited a while ago. I put it in the same way that David Cameron has put it. What he said was, look, the science is pretty convincing to me but even if you dont think this is real and you think that the chances of the terrible events that we predict are not real, even if you think theres only a 10 chance that this is real, wouldnt you buy insurance against it . Isnt that what we do with insurance policies . Even if we dont know for sure its going to happen, isnt it the smart thing to protect ourselves in case it does . Thats how he put it. Im clear of where we want to go, because the science is compelling. I know there are people that dont share that view. I would make those arguments and then see where it goes. Georgetown law school. President kim, the safeguard policies are the settlement, environment and culture and other things have been redone. 300 n. G. O. s walked out and stinging critique on the blog by brookings institution. How do you see this new development on potentially communities. Potentially neglected communities and for the other projects youve identified . Thats a great question and let me make clear the safeguards are not yet done. We have just put out a draft and we are in the middle intensive negotiations and i have extended the consultation process into march. So we take this very, very seriously. And let me just say that we have a role, the management of the World Bank Group has a role of putting the information together, but the final decision as to what these look like are part of the negotiation that what happens with our board and our board is 188member countries of the World Bank Group. I made a commitment not to dilute the safeguards. Let me give you an example of how complex this is. Communities from latin america are absolutely convinced that Even Stronger language on indigenous communities are important. When we begin to ask questions of people, we have problems like the ones we had in rwanda. It is extremely complicated and difficult. I dont know we are going to resolve that issue and bring extremely strong opinions that come from different parts of the world with different frames together. But thats the job, not just of me but of the board. So this is why multilateralism is so extremely difficult. You have powerful forces on our board that are arguing about these things all the time. I will do my best to come to an agreement that projects that protects people, the environment. We will do everything to get there. Because we have 188member countries and group of governors, we have to do it within the context and i hope others will be continued to be engaged in the discussion of this process as we go forward. I would like to ask particularly in the sustainment of Development Standards why the bank has not included in the draft documents that were discussed recently, mandatory gender standards . I think without the women of the world, the world is not going to move forward and the bank has been such a sustainer of womens advancement. Why is that not included in the draft . Which draft . The sustainable, environmental and social framework . I dont know the answer to the question other than to say that we have been extremely committed to gender equality. We have a new area that spans the entire organization. We have been trying to lead as much as possible. I dont know the answer to that question. Rachel, do you know the answer to that question . I work here for jim. We are in the consultation, this is all part of the consultation. I think the question in the safeguards, there is a lot of discussion around this, have you put a gender lens on all of the safeguards, so that would start in the way in which you work with women and social impact assessment. And for my own professional experience, you walk into a Forest Community and you ask men and ask women, you may actually get two different answers as you would do in the village i come from. So were aware of that. And how do you deal with the specific issues related to gender and some of the other issues in resettlements, et cetera. Do you put a gender lens across everything or standalone policy on he gender. The standalone policy has to be upstream. It is a process to make sure you are doing no harm. They have to be accompanied by strategic strategies by the game. And jim has to take a new gender strategy to the board. But lets talk after the meeting. If you are talking about safeguards and this is an ongoing argument and there are many you can imagine the number of standalone safeguards that are being discussed. And the board is where do you get the greatest impact or some way of ensuring that at the end of the day we remain accountable . This is an ongoing discussion and wont be resolved well present a final version to the board in the summer of 2015 and the final approval will probably be in the year. Lets try to revert back to todays topic of Climate Change and financial matters. Could you comment the special problem of india with its Great Development needs and use of coal. Well, i have had now had quite a few meetings with the Prime Minister and the Prime Minister has told me that he has worked a lot in terms of increasing solar energy. Great advocate of solar energy. He has an enormous problem in the sense that, he has to find ways to provide energy for 400 Million People in india and have a positive impact. In my discussions with him, he has been clear he is very open to having these discussions. The first thing they will say, we need a chance to industrialize and create jobs, we need energy. So im hopeful in the sense that the leadership of china and the u. S. , i think, was unexpected. And even at the g20 meeting, every single one of the leaders knew there was a reckoning coming. They would have to state what they are going to do. We are going to do everything we can to help india down a cleaner path. If we could build more Rapid Transit systems in india and do more bus routes, that would have huge impact and have gone to natural gas. So there are a lot of things we can do. What the Prime Minister is looking for and this is our responsibility to him, he said to me, if you can find cleaner ways of accomplishing what i have to accomplish and that is creating jobs for these young people, all these other people that are exiting schools and looking for work, if you can find that, i will choose it. I remain hopeful, but i think the overall discussion is a very complicated one. 400 million living on less than 1. 25 a day. That is also his responsibility. Time for one or two more questions on the topic of Climate Change. Institute of peace. Let me offer a dissenting critique on your presentation. You have one of the few positions in the world that gives you the bully pulpit. And what im finding is whereas you are talking about 2100 objectives, unless we do something in the next 20 years, there is no prospect of meeting those objectives. Politicians think they can postpone the problem. What are you saying that would cause a mainstream politician to develop the political will to take very hard choices within the next 10, 15 years, not 50 years . And i dont see it. What i hear is a summation of things countries can do, should do. We have these people at the bank that can help you and understand these things, but theres the urgency that the consequences are dire within the next 20 years, not in the time years that 2100 would suggest. You dont have to agree with me. In a world of 70 oil which it isnt complicated. It means it postpones peoples incentives to get off of oil. A rush to the resource. My mother would thank you for calling me wonky. I have been in a political position now for so long. First of all, i dont think we know whats going to happen to oil prices. There are equal numbers of people that some say it will go, others say down to 40 a barrel. If you read our documents, we have put out a lot of documents at an unprecedented level. They are very specific about whats going to happen in asia, latin america. We have been very specific about the shortterm impact. And our approach to the problem has been that we are not going to limit our activity just to giving the doomsday scenario because in my have you getting a politician to change his or her mind is an extremely important task. But in the meantime there are specific tasks. How do we increase financing for renewable energy. This is something we can work on. Climate Smart Agriculture is a nobrainer. It increases productivity and makes the crops more resilient and feeds important people and good for the environment. And it is not being done at the level where it should be done. Thats very clear. So i hope you guys are successful along with us reading our documents convincing the politicians to change their minds. What about building cleaner, more Livable Cities . They are not. 70 of the emissions happens in cities, if you can make them more cleaner and livable with all the other things that have been proven to lower the Carbon Footprint in cities, its something we should do right now and this has changed about the World Bank Group that we are not strad willing the fence and saying this is a real problem and just engaging in political arguments, the thing i worried about is everyone would put everything on a binding political agreement. That might not happen. I hope it does. By that meeting we will have worked out how we are going to finance activities for the years forward for the poorest country and work out a plan for cleaner and Livable Cities that is much morrow bus and have an impact on carbon emissions. Funding for renewable energy. In other words, we cannot wait for the politicians to change their mind. Thats our approach and i urge you to read our documents. They are pretty frightening. Lets close on that strong answer. President kim, thank you for your great remarks. Thanks for your leadership. As this challenge is a practical one. Your leadership is needed and we appreciate it and thank you very much. [captions Copyright National cable satellite corp. 2014] [captioning performed by national captioning institute] which is responsible for its caption content and accuracy. Visit ncicap. Org] on the next washington journal, law professors stephen for water and steven groves of the Heritage Foundation discuss the Senate IntelligenceCommittee Report on the cia interrogation techniques. Pennsylvania congressman tim murphy who cochairs the Mental Health caucus talks about mental access two caucus years after the Newtown School shooting. Our guess from the brady center will review efforts by congress and advocacy groups to tighten gun laws. You can join the conversation on facebook and twitter. Washington journal live at 7 00 a. M. Eastern on cspan. A live look at the u. S. Senate as that chamber continues a long a series of procedural votes on judicial and executive nominations. Earlier this afternoon, senators approved a temporary spending measure by voice vote to fund the government until wednesday. The measure of birds a Government Shutdown tonight when current funding is set to expire. Meanwhile, several media sources are reporting that an agreement has been reached regarding the one point 1 trillion spending bill to fund most of the government until september. Alex bolton of the hill tweets final passage of the omnibus will happen tonight. You can watch live coverage of the senate on our companion network cspan2. Next, reverend al sharpton and family members of eric toner, michael brown, and mere rice lead todays march in washington, d. C. The reverend al sharpton and ae National Action network of protest, and rally in washington, d. C. They are dressing racial violence and protest. The march began at Freedom Plaza in Downtown Washington and ended new the u. S. Capital, where speakers outlined the legislative agenda for congress. This is about two hours and 15 minutes