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tv   [untitled]    October 11, 2024 3:30am-4:01am EDT

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some new and old friends i am seeing in the audience. thank you. good morning or good afternoon, depending on your time zone. thank you all for joining us either in person or virtually to discuss the importance of applying a system approach to planning for u.s. government climate resilient infrastructure investments around the world. i'm noah monger, the director of csis. the initiative is focused on applying lenses of economic security, risk management, and investment to issues of climate change adaptation and resilience . vulnerable communities and countries around the world are already grappling with the effects of climate change, including extreme weather and associated stresses. this is true across the planet and in our own backyard, and our thoughts go out to everyone in florida contending with hurricane milton, and others still breathing and recovering
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in response to hurricane helene. as efforts continue to rise in priority, making their way toward center stage and climate change discussion, a new resilience oriented economy is emerging, with the development of new investment asset classes, innovative approaches to insurance, and technology-enabled crime and information systems. these are just a few examples. to this new program, csis aims to better improve future approaches and clinical dialogues at the heart of united states decision-making on global engagement. i would like to say a few words about today's agenda. the events will be comprised of several parts. first, we will hear from the treasury assistant secretary latortue. and we will hold a panel discussion that i will introduce and moderate. following that discussion and the q and a with all of you, there will be a short networking reception outside this room. i welcome all of you who are here in person.
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let's begin with the first part. as assistant secretary alexia leads international trade for the treasury department. she served as deputy ceo at the millennium challenge corporation. as a managing director at the european bank for reconstruction and development. as a financial inclusion leader at the world bank. as the distance the -- deputy assistant secretary for developing policy, which is where i first had the opportunity to work closely with her a decade ago when she led the action agenda on financing. we are incredibly excited to welcome her back to discuss the importance and relevance of climate resilient infrastructure in international development. please join me in welcoming assistant secretary latortue to the stage. [applause] ms. latortue: as i spent much of
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last night trying to reach mike godmother, who lives in temple, florida, i was amended once again we live in a different world, and so we must -- we must do things differently. good morning. i thanks, -- my thanks, noam, to you, and to csis, for creating the space to put this together to talk about a vital issue. hurricanes milton and helene are a vivid and painful reminder of the importance of resilient infrastructure right here in the united states. these hurricanes force us to confront the immense destruction that extreme weather can bring. increasing frequency and severity of climate-related events. in the terrible cost -- human, material, and financial -- when we are caught unprepared.
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with more than half a hundred lives lost in the aftermath of helene, i hope for a swift recovery of the communities. tragedies like these make clear what is at stake when we cannot or will not or do not prioritize resilience and adaptation. the importance of infrastructure is misunderstood. i will not belabor the point as others have stressed, it infrastructure is the lifeblood of an economy, enabling increases in productivity and the movement of goods and people. it is also the lifeblood of communities, enabling people to access basic services like water -- we will hear from mongolia soon -- cooling, and health services. it is a priority for countries around the world, including here in the united states. indeed, we have seen historic investments in infrastructure right here. and in emerging and developing countries that face a double whammy of an existing low stock of existing and for structure
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assets, coupled with many cases of growing populations, infrastructure is vital to building a more prosperous, equal, and peaceful future. as i said, the world is changing. we do not need any old infrastructure. need infrastructure that is climate resilient, that is more than a collection of various assets -- a port here, a dam th ere. we need integrated climate resilient infrastructure systems at scale. i am really proud of the biden-harris administration commitment to an approach to boosting infrastructure development in emerging markets and in developing countries. at the g7 leaders summit in 2022, president biden, alongside his g7 counterparts, established the partnership for global infrastructure investment, or pgi. the goal is to mobilize $600 billion by 2027 to deliver quality sustainable
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infrastructure. the united states share is $200 billion, and we have already facilitated $60 billion of public and private capital toward that pledge. more than the numbers, what is special about pgi is that it was established in recognition that how we develop infrastructure matters. pgi is designed to offer low and middle income countries a comprehensive system -- transparent, value driven financing option for info structure development. in this effort, agencies across the usg, including usaid, my department, treasury -- work with like minded partners across government, the private sector, and multilateral development banks, in a way that i hope is aligned with the fabulous support we are launching today -- resilience at scale, the systems approach to climate resilient infrastructure planning. system-level thinking has been central to help pgi plans,
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finances, and delivers infrastructure and associated development benefits. we prioritize a core door approach. i will describe that more in a minute -- to identify overlapping and synergistic projects in strategic and geographically linked areas. we also embedded in our thinking that infrastructure has purpose to improve health, to promote gender equality. let me explain the corridor approach for an example. for hurricane milton, president biden will be making historic trips. he will have visited a pgi priority corridor. pgi is making investments in rated -- rail and road infrastructure. and there is port infrastructure in angola.
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alongside these transport corridors, pgi is also investing in grain storage, and processing hubs, recognizing the importance of boosting our productivity along the corridor, critical mineral refineries. it is not enough to extract the minerals. clean energy transmission and distribution projects. it gives us an opportunity to increase access to industry for small businesses and households, and connectivity around the rails, roads, and ports, to name a few examples. we have understood that we need to plan individual infrastructure assets in the context of a larger system. not only because it strengthens the economic case for those investments, but also because it enables the delivery of broad and deep development benefits for the governments, businesses, households, and communities that host the infrastructure. this systems approach to infrastructure development
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allows for cost-effective deployment of public resources, encourages participation, and enables broad development impacts. this systems approach of course requires thinking about risks, including climate risks, across the whole system as well. we were collectively making good progress on building the resilience of individual assets -- say a building to earthquakes -- and feeling pretty good about it. that simply is not enough. as the resilience at scale report highlights so well, failure to have resilient systems can be disastrous. i quote from the report. the failure of one infrastructure component can trigger simultaneous failures or cascading collapse, with profound impact on communities and ecosystems. the good news is that the upside
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of a resilient systems approach is great. reliability of infrastructure services improves. economic losses have reduced and cost-effectiveness increases. multiple assets can be protected at once. and progress on broader development goals can be supported. so what does it take to work differently? or is the report challenges, to work more smartly? first, all actors must embrace this new way of working, with urgency. this means all actors recognizing the importance of understanding, calculating, integrating, and planning for climate vulnerabilities and climate risks. all actors must embrace a systems report -- systems approach, working much more collaboratively. each actor needs to think beyond the one asset they are financing, or the one asset they are prioritizing. and yes, planning.
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we need much more investment, thorough and smart infrastructure planning. this is not just about financing. it is about a mindset. it is about technical assistance. it is about know-how. we need much more financing for adaptation. ultimately, this requires countries taking control and ownership of their national infrastructure planning so they work with development partners, with the private sector. they're getting investment to help build and strengthen climate resilient infrastructure systems that align with their own priorities. the president's emergency plan for adaptation and resilience is a whole of government effort that fully embraces a holistic way of working. let me add a bit about treasury and what we are trying to do. let me start with financing. to meet the infrastructure requirements of emerging markets in a way that aligns with the goals of the paris agreement
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would require that these markets secure annual investments of $1.6 trillion into energy transition and info structure technologies by the 20 30's. we know we cannot do this with public money alone. that is why secretary private -- secretary yellen has focused on capital preservation is a top priority. using scarce public dollars requires partnerships across government and the private sector. the renewed focus on the g20 could be quite helpful in this regard. partnerships across sectors require increased discipline around risk identification and sharing to determine models that work at scale. working hand in hand with the private sector has made clear how strong financial risk management is essential, including direct risks like climate hazards to unlock info
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structure projects. and given the huge investment -- the infrastructure investment financing gap, we need every public and private dollar invested in climate impacts. countries can barely afford to build infrastructure, and they certainly cannot afford to rebuild and rebuild infrastructure. let me double-click on the role of the mpb's. in 2023, the climate finance commitments to low and no income countries reached a record high of about $75 billion, up from $60 billion in 2022. about 30% of that goes to adaptation. let me end with a point i often
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start with. it is not about finance. development and private finance can only be effective resources for infrastructure systems in the presence of strong enabling environments. as the resilience at scale approach notes, beyond financial challenges, there are real critical institutional, policy, and technical requirements, planning for infrastructure resilience. we must also prioritize this work. in conclusion, i strongly believe that the u.s. government's toolkit to help countries bring climate resilient infrastructure systems at scale is robust and is diverse, and it is most effective when all parts of the toolkit work effectively together. usaid and others not on the
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panel working in concert with the considerable investment the united states has in the multilateral development banks and the multilateral climate fund. at its core, the report leaves us with a simple message. work smarter. we could not have a better panel to help us understand how to take this very simple message into a very complex world. thank you very much. [applause] ms. latortue: thank you -- noam: thank you so much, alexia, the charge to work smarter. and thank you for raising the complexities of the challenges of financing and the challenges of the heightened level and necessity for collaboration.
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i would like to welcome our panelists on stage, and please bear with us. we just have to move some things around on stage. these come on up, and we will begin. thanks. all right, thank you. for this part of the discussion, we are joined by four key leaders and each brings their own unique perspective to the topic. gillian caldwell is the u.s. agency for international development's chief clement officer and deputy administrator for the bureau for social security.
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she oversees the agency's climate and environmental work. jonathan richards serves as the deputy vice president of the infrastructure, environment, and private sector division. as deputy vice president, he oversees the climate and blended finance work, in addition to several technical practices -- energy, water, transportation, vertical structures, and environmental and social performance. all are key to the issues of climate resistant infrastructure. we have the chief executive officer of the challenge account, mongolia. leading a water infrastructure project aiming to address water supply shortages through the construction of a large-scale wastewater recycling infrastructure, and capacity building measures. welcome. and rihanna is part of the
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leadership of mia moto international, a global and structural risk reduction firm. and the president's emergency plan calls for action from the private sector in 2023. within her role, she adapts design strategies through asia, latin america, and the caribbean. welcome to you all. gillian, i want to begin with you. the emergency plan for adaptation -- your agency has been helping lead across the government about climate resilient infrastructure and systemic approaches, including this new report that alexia just mentioned. please tell us a little more. >> a little more on prepare. i think this report is a natural evolution. prepare is president biden's emergency plan for adaptation
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and resilience. it was launched at cop 26 in glasgow and is a whole government response to recognizing adaptation and resilience require a really comprehensive approach. we have been very focused on advancing climate related systems, the kind of information that the people in the south of this country benefited from in the lead up to these recent hurricanes. mainstreaming resilience is a consideration across shaping all budget design in governments worldwide. and this gives the kind of gaps that alexia spoke to. so proud to have you come up mia moto, on stage, and others in the audience, responding to this call for action, which is leveraged $3 billion in commitment in 39 countries
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around the world. there is this interagency coordination. i'm really proud that we worked with partners at the u.s. army corps of engineers and the international development corporation to shape this new report, which i think alexia did such a fantastic job of describing. we have to get beyond the sum of our parts, and think really collectively about what it means to design resilient infrastructure. for example, you could build a bridge which is designed to withstand flooding, if you have not considered the underlying floodplain management -- no amount of infrastructure is going to resolve that problem. i remember sitting there with the president of pakistan and his cabinet, and former special envoy terry. they said the flooding in that
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country was biblical in proportion. one third of the country underwater. what was left standing were usaid schools that served as emergency shelters and points of contact for people in the context of the tremendous disaster. looking at the video streaming and from hurricanes on our own shores, you can see that a well-built building surrounded by roads that are completely impassable does us no good, because you cannot get to the people inside the building who like food and water. i think thinking comprehensively about these issues is not just about the great infrastructure -- the concrete -- but the green infrastructure, how we ensure that solutions are really doing their job to protect our environment. in the policy environment that surrounds those investments which can really catalyze further investments and make for better and more thoughtful
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infrastructure, or leave all that opportunity untended. noam: thank you. jonathan, let me bring you into fill in the picture of more. >> thank you. let me just say thank you to noam, and thank you for hosting the event today. big thank you to galeon and u.s. iv -- gillian and usaid. i also want to acknowledge her colleagues from noaa, the army corps of engineers, who are not on in terms of maybe some background on the infrastructure working group, we had the pleasure to koa chair the working group. and this was established upped the prepared initiative that has been highlighted today and has worked together and has been three years of sitting down
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hashing out how one can build on each of the agency's efforts to better respond to climate impacts and u.s. investments are more resilient and provides critical services to communities and achieve a higher rate of economic return. it's probably worth underscoring how this group wanted to come out with something actionable and concrete. nevertheless, we have arrived there. and the working group came out with key recommendations and talked about how we can address a critical gap in terms of how infrastructure investments are made. specifically as others noted, we need to shift away from the asset-based approach and making sure that the system as a whole is working together, if you have a school or waste water treatment plant are still
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viable. over the last several years, they had this interagency process pulling in actors and others to develop a proposition and best practice guide. this involves a lot of research and interviews with global leaders and we had an in-depth work shop how can we work together to move the needle on this critical issue. the events are here today and this report which you can access the code on your seats, this is the culmination of the work group's work and bottom line it is articulated and road map and resilience results in greater resilience and lower costs. so i won't dwell on those linkages.
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it is very critical. but i will say we are pleased to stand along side all of the others who made a commitment as a system in our program and shout out to usaid, army corps of engineers. what does it mean? for those who know that, we have a fairly unique development model and provide large-scale grants and important investments in low and middle-income countries that are targeted to unlock constraints of economic growth and poverty. our grants are $350 million going into a single country and infrastructure investment is a big part of that. reliable infrastructure is critical for economic growth. in fact, since m.c.c.'s establishment in 2004 we
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invested 16 billion in 47 different low and middle-income countries arranging for energy, agriculture, transport, schools, health centers. and the need for global investment and infrastructure is huge. the financing gap is expected to grow to $15 trillion and some estimates are greater. at the same time, climate change is threatening all of that and communities, rising sea levels, more floods, shifting patterns of drought. and seeing it in the u.s. but other countries are less able to afford the measures and steps that need to be taken to deal with that. so i think i'll end here with a couple of examples of what it looks like and i want to underscore the point that our
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partner countries are on the front lines and our experience has shown this already taking resilience is critical and our countries also see this. and you'll hear from the leader of the mongolian compact and taking an approach has been fundamental to ensure that water is provided, safe and reliable drinking water is provided to the capital city. in addition, our 649 million compact in indonesia of how to take a systems approach in our newer programs. the indonesia compact includes a project that invests in the institutional infrastructure to plan and invest in infrastructure systems. this focuses on equipping five
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provincial governments and planning and infrastructure and helping the governments develop road maps and prioritize infrastructure development based on the system analysis and bringing funds to the table to actually develop those products that are put forward by the indonesian government and bring our grant dollars and bring in private sector financing. lastly, on the mozambique, $500 million program. m.c.c. and the governor recognized earlier on the increased frequency and intensity of storms and the risk that climate changes affects. cyclone freddie was the longest lasting cyclone in the world. it hit once and twice. we developed a system of load
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investments that looked at the network as a whole and incorporated arrangements for operations and included $200 million to replace a bridge over the river if you go on the bridge, the storm comes in, the water is almost overtopling it. so bringing this -- and good example to ensure that that transport link is maintained. that is a lot. and turn it back to you. >> it's good to begin to context you lies and what it can look like. and we have an wonderful opportunity to do just that. we are happy to have you here in washington and tell us about the work inmon goala and how it --
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in mongolia. >> mongolia is one of the most water stressed countries in the world and climate change is a major factor to this because mongolia is affected by climate change. the average temperature in mongolia increased by one of the highest in the world. and 70% of our land is affected. this is from rural to urban areas and over 1.6 million people and over half reside in a single city, our capital. in addition, it is home to 2/3 of all the -- [indiscernible] so i

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