. >> thank you president stansbury. you see portfolio risk.e don't get a chance to talk about this very often. i'd like you to remember this, we think about this subject and we think about optimizing risk and return. we think about this all the time. we rarely have an opportunity to step back and look at portfolio construction and risk mitigation from a more holistic point of view. this is informational but i did want to let you know that we consult, we do make decisions in a vacuum, we consult many thought leaders and any p.c. is the general consultant and we also sample about a dozen consultants around the country on their ideas about asset allocation and risk management. we consult perm, other c.i.o.s, et cetera. i just wanted to let you know that we take things into this account holistically. we're glad to present this and look back and present this to you holistically. ellen has been preparing for this for an extended period of time and i will ask her to introduce the subject and introduce our guests. >> thank you, bill. good afternoon co

. >> president stansbury: i'd like to add one thing, i'd like to thank supervisor peskin for showing up today, it's important that our supervisors are here to add their opinion, because it's helpful for our commission to hear from them. so thank you. >> we have several invited guests, you know allan at the far left. stephanie ivy and john goldstein from goldman sachs, john will speak first. and then ofear second. they'll be 15 minutes. third will be allan and i will go last and allan and i, we pledge total of 15 minutes of two, if he takes 8, i have 7. john, if you could. stephanie, please reintroduce yourselves. >> good afternoon to the board, thank you for having us. protecting the environment and thinking about esg, it's been a longstanding focus of our firm. we have a very large clean energy business, we've already deployed about $40 billion in capital to clean energy and have expanded that goal to $150 billion by 2025. we've held 89 companies scale up the clean energy and renewable efforts in 29 countries. our own building was built to the gold esg standard, so we focus a lot of