already working on alternatives to exports in plastic a chip maker recycling company at an environmental institute have joined forces to build a recycling ship it will anchor in 7 african countries and buy plastic waste from the collectors on land to be recycled right there on board the vessel. lots of people make a living from selling garbage like here in sierra leone they could make 5 times more money by selling it to the recycling ship on one condition the plastic is presorted interesting overriding seen around 60 $4000.00 tons of plastic waste could be recycled here every year. on logarithms we need a big plant to process plastics in a profitable way and got us and none of these countries has the means to build one that big we think we'll be able to buy our own 10000000 euros worth of plastic every year as if it's the middle of. and when you think it takes 10000 euros of revenue to create her full time job in these countries then we could create 1000 jobs in the region drops into your machine. building the resources to process plastic waste where it's created could help the world to start brea

working on alternative serves to exports ng plastic a ship maker am recycling company aren't an environmental institute have joint forces to build a recycling ship it were anchor instep an african countries and by plastic waste from the collectors on lant to be recycled right there on board the vessel lots of people make a living from selling garbage like here in sierra leone they could make 5 times more money by selling it to the recycling ship on one condition the plastic it's pre-sold hid interesting go varieties iran 64000 tons of plastic waste could be recycled here every year that because of to call her mind of course on log them we need a big plant to process plus stakes in a profitable way cylinder got us and none of these countries has the means to build one path big it's can still we think which be able to buy your own $10000000.00 euros worth of plastic every year this if it see middle of the i'm cull from can on then when you think it takes 10000 euros or of revenue to create her full time job in these countries for that then we could create 1000 jobs in the regions ops and oh you wish then

scientists or many diverse institute study the atmosphere and climate here now in winter the outdoor measuring gauges have to be clear device. marcus neumann heads this environmental measuring station. 11 institutions use this exposed location on germany's highest peak including the german environment agency that. no man has brought a new measuring instrument for chemical engineer said he could take the french scientists to studying air pollution yeah. we can measure impurities that come from very far away from africa or canada. you know other than bush did for instance so horrid dust we can measure very high concentrations of. the location is ideal for studying the atmospheres microstructure the latest findings have shown a greater rise in c o 2 than the long term average. from inside the station in the 800 metre long tunnel where tourists were once cautioned about the thin air leads through the mountain geophysicists hill team looks after equipment that measures melt water. despite global warming the permafrost the ice frozen into the rock is currently fairly stable. and offers a spectacular natural display in a side tunnel. after a disastrous avalanche in 1965

one of my friends at the environmental law institute has dedicated his career to environmental peacethere is a new environmental peace building association which is a partnership between you and u.n.ronment and other -- yo environment and other critical partnerships. it will help the world understand how to make natural resources a reason for peace rather than a reason for conflict. that is one of the hopeful things. another, which i'm a little conflated about, many of the contaminated military sites have been designated as wildlife areas by the dod. forbidden tole are go into those sites, for obvious reasons. people would get blown up. it is a mixed blessing. you hope for the best for the wildlife atlanta there but increasingly, -- the wildlife that land there but increasingly, military sites may be their only refuge. it is something to think about. along those lines, i read an article about there is new drone technology that combines drones with some kind of grabbing technology that is a little less high-tech and the drones safely uxo's. my hope is that we can talk the dod into sha

national resources and government accountability, office dave, jones's new director for environmental risk, institute for economic freedom and the heritage foundation, doctor michael green stone, milton friedman distinguished service professor of economics at the university of chicago, and the honorable stephen benjamin mayor of the city of columbia, south carolina. so, with, that director gomez, you are now recognized to give an oral presentation of your testimony for five minutes. >> thank, you mister chairman. so, chairman, i am pleased to be here today to discuss our work on how to limit the federal government's fiscal exposure by better managing climate change risks. this is an area that has been on our high risk list since 2013. the cost of recent weather disasters history with the need for planning for climate address and for investing in resilience. we discussed today the potential economic effects of climate change in the u.s., several areas where the federal government bases fiscal exposure for climate change risks and the extent to which the federal government has invested in resilience to

how do you manage through that as the ceo of an oil and gas company under this kind of institutional and environmental pressure >> i think you have to reground everyone back to the dual challenges that we have the e me world's growing energy needs and address the e in esg, which is climate change the way we do that is through an all or above energy strategy where oil and gas has to play a role in an energy transition we still have a billion people in the world today without electricity. 3 billion in the world that are living in basically energy poverty. so our work is not done yet. >> okay. final question is if you had to bet, i don't know if you're a betting map, lee, we just got to know each other, will oil prices a year from today be higher or lower than they are now? >> i think that today, we certainly are in a much more constructive market. i think the geo political tepgss we're seeing today are likely going to persist for some time in the middle east i do think that creates a bit of a floor under oil and gas. >> sounds like you're in a very gentlemenly way saying likely higher >> but we're not g

earlier we spoke to stefan the gumshoe off from the pottstown institute for climate impact research about the impact of these environmental risks. the warnings of scientists have been by and large ignored for more than 50 years we're now in a real climate emergency global temperature is higher than at any time in the history of human civilization and that means our weather is on steroids when the climate and weather add up in the same direction we get unprecedented weather extremes like we have been experiencing in australia recently. the ground ethiopian renee phones don is set to become africa's largest hydroelectric power station but not everyone is in favor of us egypt fears the project will give ethiopia too much control of the nile and the locals aren't happy by plan 3 fettle people living along the river. a mama's construction on the river nile the new hydro power dam in western ethiopia will go into operation at the end if it did it should be at full speed 2 years after that with a massive 6000 megawatt capacity the residents along the nile a searing through that water supply and environmentalists are condemning r

earlier we spoke to stefan the i'm still off from the post on institute for climate impact research about the impact of these environmental risks. after the warnings of scientists have been by and large at the north for more than 50 years we're now in a real climate emergency global temperature is higher than at any time in the history of human civilization and that means that our weather is on steroids the climate and wherever it up in the same direction we get unprecedented weather extremes like we have been experiencing in australia recently. to some of the other business stories making news u.s. electric car mickey take it in top of the ford cobalt from mining giant glencore according to a report from newburgh new the metal is used to make batteries for electric vehicles a huge amount of blank with cobalt is mined in the democratic republic of congo where the miner has come under fire for alleged corruption. move on boss jeff bezos has promised a $1000000000.00 investment aimed at supporting floral and medium sized businesses and india it comes just days after the country launched an anti trust probe into the company

am still hopeful that there are still some very good people didn't work for the national institute of environmental health sciences or the epa who are now retiring and are now able, we are, hoping to broad -- you know, spread more information about what they know that they were not able to say. >> okay, we have time for one more and i see this person has been having his hand up for a long time, somebody i know. paul. >> first of, all thank you all very much, i just have a plea. i am a vietnam veteran. i served in 1969 and 1970 at the 85th evacuees spittle. i want to encourage all my brothers and sisters sitting in this room to talk about your experience to younger people. i know that we have all been trained, whether we like to ring into the service or not or if it was a choice or not, the two things that we remember, we are there to protect and serve. i think we spend an awful lot of time in the protective mode by protecting our loved ones were hearing our stories, for fear that we would stand them somehow with more. i have learned to turn it into the serve part and what i'm trying to do now is to

we do take it seriously and are working through the american wind wildlife institute a partnership of the environmental community and wind industry. there are a lot of technologies and techniques deployed now and we have more in the works to take that less than .01% of human caused bird death, the biggest impact on buildings, roads, power lines, in cats, so wind is actually quite small, i should say domestic cats, quite small and something we want to drive further down. any other questions? i'm not sure of our time. any other questions. >> are you working with the grids on the rate structure and state regulators and the national regulators to have to maintain that place and opportunity lineup for overall supply, and do you work into the weeds on the rate structure the entire process of getting the wind power on the grid? >> fortunately, i do not, but my staff does, yes. we work at those levels and we have with our regional partners because what we're looking to do is compete in the markets for electricity, the rtos, hosting that market and we want a level field there to compete straight up so we're wor

that large institutions like blackrock and rating agencies and government institutions will be monitoring certain environmentalial governance checklists. we will have to help our clients through that. >> where does that fit into the situation? >> the world is going to continue to use cheap energy. there are 500 million europeans and 300 million americans, there are 6 billion people in the world still struggling and access to cheap fossil fuels, it is their life. africa, they are not as worried about the environment yet as they are worried about making ends meet and life. i think the fact -- what worries me about this is the severe pressure on fossil fuels and the severe pressure not to invest in developed countries. i think it might lead to a shortage sooner than we think. was ceo speaking with bloomberg. it is time for the bloomberg business flash. a look at some of the biggest business stories in the news. reshaping the board of a hedge fund. it is doubling the number of directives to open the way for a new generation. he has been promoted to cochairman. fourth-quarter profits were reported. added manyiant c

environmental and climate impacts. i'm joined now by i told this one from the australia institute's you've done a report looking at all strikingly it's fossil fuel exports just tell me where that puts australia and its responsibilities because of the climate change is that so they no question a strong leader has an oversized role in fueling climate change mostly through the fossil fuels that exports that's overwhelmingly call both steel coal and power call these exports put a strangely a 3rd in the world in terms of fossil fuel exports that's behind russia and saudi arabia so all this trailing government likes to say plays a small role in causing climate change and reality and i'm almost for all of it has a huge opportunity with these bushfires to take a stand internationally to do something about it scott morrison consistently again in the speech you just gave said that australia's emissions just 1.3 percent of global emissions as if they australia is not a big player but even so it's still doing its bit is it well it's certainly not not doing its bit its targets are too low and it's only planning to make them based

that large institutions like blackrock and rating agencies and government institutions will be monitoring certain environmentalto help our clients do that. >> you advised aramco, where do they fit into the situation? >> the world is going to continue to use and needs cheap energy. there are 500 million americans -- billions of people who are struggling and the access to cheap fossil fuels, it is their life. india, china, africa, they are not as worried about the environment as they are about making things meet and life. i think the fact that -- what worries me about this is the severe pressure on fossil fuels and the severe pressure not to invest in developed countries might lead to a shortage, sooner than we think. >> what do you think the next big market risk is? >> markets are priced for perfection. timee spend too much trying to predict the event. you have to know that there probably will be one. i have learned you have to know what it is and that one will happen. it may be this year. brothers had made it through that one year they would probably be a $150 billion market cap company. you cannot get taken o

institute of ecology of pa judge at arms university. then simmons you're going to condense going to go for you. right it's professor sonority runs the only environmental studies laboratory in the region we can measure that then we've made the offering was lead. basis sure to like a sunny. and then medically also cadmium the. men for the. woman predict if it is something like. a come back you know we're going to. continue thank you again you see you. close to the factories while we wait for the test results we get some of the women and children of the village together. to. offer to analyze they're here to better understand which pollutants they are exposed to. a delicate protocol to advise us we put the price up and seller on the line. what can you hear me professor. yes he is the person to speak to when europe when it comes to researching pollutants with hair samples he is head of the human bio monitoring unit at the luxembourg health institute. what's the point of hair analysis compared to blood or urine tests proving that. blood or urine test gives us information about the few hours before the sampling with air it's different. the speed of growth is

institute of ecology of project on university. thank you means you're going to be ok that's going to be funny. all right professor sonority runs the only environmental studies laboratory in the region we can measure that then the middle 3 mostly didn't it is space is sure to like a sunny day again then medically also cadmium lead the effect of i mean that's what somebody can. and even then. men predict if the woman for that to could do something like that you know of addiction is ok thank you but i'm not going to yeah i'm going to get you know i continued think you're getting into so you think you can get. close to the factories while we wait for the test results we get some of the women and children of the village together. thank you because we offer to analyze they're here to better understand which pollutants they are exposed to. a delicate protocol. to advise us we put bryce up in the cellar on the line. more can you hear me professor. yes he is the person to speak to when europe when it comes to researching pollutants with hair samples he is head of the human bio monitoring unit at the luxembourg health institute. what's the point of hair analy

environmentally responsible. >> are you sort of emboldened a bit by larry fink's comments there's been such selling the last year or two by institutions who say we're going esg, that means we dump all fossil fuel companies. what fink, whose firm is one of the top three providers of etfs that own pretty much every stock out there, it sounds like we're not going to indiscriminately eliminate all oil and gas stocks from our portfolios. should investors find a measure of hope in those comments? >> yes, i agree with that. just put some numbers on this. 26% of all professionally managed assets in the united states, debt plus equity, are already covered by some kind of esg screen that's $12 trillion, by the way, a lot of money of that, $3 trillion is tied to climate, but that does not mean that $3 trillion of funds are excluding every single fossil fuel stock there are some divestments we've mostly seen this in europe, places like norway but even when funds are divesting, they're very rarely eliminating every fossil fuel stock. they may well be eliminating coal, which is the most carbon intensive. as far as oil and gas, they're usually takin

institutions of all kinds need to continually innovate a commitment to continuous improvement examining what works looking at what doesn't work is critical to success in every domain including environmental protection and it's my observation the environmental arena is curiously untouched by a commitment to innovation over the last 25 years to bring innovation to step one calling red lights to green lights and at the core is the 2h century environmental protection all about telling people what they could not do. stop this red light. don't go there and we made progress. we shifted people towards cleaner production and as a result we have cleaner water but it is still the incomplete approach to environmental protection. what it didn't do to steer individuals or businesses and entrepreneurs to where society needed to devote time and resources and energy and money to provide solutions. i argue for the need for green lights to signal the people where we want them to go to solve society's environmental challenges starting with a d carbonized energy strategy we do need much different electricity generation in the years ahead and incentives to drive people they are. we need to think about incenti

instituting any stronger measures. recently, the e.p.a. has declined to promulgate standards on pa -- pfas despite act knowledging the dangers they present to human and environmental health. just as foxes shouldn't guard the hen house, chemical companies shouldn't be trusted to regulate themselves. research on the additional pfosands of pfas outside of s&p foa can and should continue but thus far all research has confirmed that pfas are harmful. we would not eat food that could potentially cause us harm without understanding the full range of ramifications first, why should we put those risks on our children without first knowing how pfas will affect them? h.r. 535 will provide protections to our communities in the immediate term and ensure that there are enforceable standards in place for the long term. this bill will require the e.p.a. to use schools under existing environmental statutes to require cleanup of sites contaminated with pfoa and pfos. set air emission limits, prohibit unsafe incineration of pfas and limit the introduction of new pfas chemical into market. further it will limit human exposure to pfas by requiring a drinking water standard that protec

institutional barriers to address. we have a price structure to improve. and we have to give local government, basically the policy implementing agencies, high incentive to implement environmental regulation and the policies. and looking ahead. we see a lot of promises and recently our industry structure has been improving. but, it might be mainly because of economic, economic slow down. so the concern from the environmental sector is that, if there's a economic, economic recovery or -- or if is done, that structure might come back. we see improvement in renewable energies. our renewable energy grow fast, and the shares still low. but there's good development. recently we changed the scheme from -- to auctioning program. it has made major contribution to that development. and the price has gone down again, dramatically. and there's new round of energy sector reforms. just like, was said, last week we had the new policy introducing higher involvement of market forces in to energy sector, oil, gas, it's a very major break through. and environmental tax was launched last year, but chinese government also announced next year, we will have a cap and trade scheme. a lot of market bas

institutional barriers to address. and we also have a price structure to -- to improve. and we have to give local government, basically the policy-implementing agencies, high incentive to implement environmental regulation and the policies. and looking -- looking ahead, we see a lot of promises. and recently, our industry structure has been improving. but it might be mainly because of economic slowdown. so the concern from environmental sector is that if there is economic recovery, that structure might come back. we also see a lot of improvement in renewable energies. so our renewable energy grow fast. but the share is still -- still low. but that's good development. recently, we changed the conversation scheme from feeding tariff to auctioning program. and the price has gone down again dramatically. and there's new round of energy sector reform. just like wong said, last week we had the new government policy introducing higher involvement of market forces into energy sector. oil, gas sector. it's a very major breakthrough. and environmental tax launched last year but chinese government also announced next year we will have nationwide scheme. so lot of market-based instrument have been introd