1. June 12, 2014 Meeting Materials

2. 2 W ELCOME TO O UR N EW GRC M EMBERS ! John Donahue, CEO, Arbella Mutual Nam Pham, Executive Director, VietAID Marcy Reed, Massachusetts President, National Grid Penni Conner, VP and Chief Customer Officer, Northeast Utilities

3. 3 Dialogue with Boston Mayor Marty Walsh

4. 4 Climate Science Update (Bud Ris)

5. “U.N. Climate Panel Warns Speedier Action is Needed to Avert Disaster” “U.S. Climate Has Already Changed, Study Finds, Citing Heat and Floods” A N I NCREASING S ENSE OF U RGENCY

6. 6 C LIMATE C HANGE IS HERE NOW Direct Quotes from the IPCC 2013 Report: “Warming of the climate system is unequivocal, and since the 1950s, many of the observed changes are unprecedented over decades to millennia. Each of the last three decades has been successively warmer at the Earth’s surface than any preceding decade since 1850. In the Northern Hemisphere, 1983–2012 was likely the warmest 30-year period of the last 1400 years. Over the last two decades, the Greenland and Antarctic ice sheets have been losing mass, glaciers have continued to shrink almost worldwide, and Arctic sea ice and Northern Hemisphere spring snow cover have continued to decrease in extent. It is very likely that the mean rate of global averaged sea level rise was 1.7 mm/yr between 1901 and 2010, 2.0 mm/yr between 1971 and 2010, and 3.2 mm/yr between 1993 and 2010. Continued emissions of greenhouse gases will cause further warming and changes in all components of the climate system. Limiting climate change will require substantial and sustained reductions of greenhouse gas emissions.” IPCC Working Group 1, 2013

7. 7 N ORTHEAST R EGION Heat waves, coastal flooding, and river flooding will pose a growing challenge to the region’s environmental, social, and economic systems. Infrastructure will be increasingly compromised by climate-related hazards, including sea level rise, coastal flooding, and intense precipitation events. National Climate Assessment, 2014

8. 8 O BSERVED C HANGES IN N ORTHEAST Average temperature: + 2 degrees F Precipitation: + 10% annually – 5 inches more/year – 70% increase in “heavy” participation Sea Level: 1 ft since 1900, higher than global average because of land subsidence National Climate Assessment, 2014

9. 9 T HE F UTURE BY 2100 Additional temp increases: 3-10 degrees F (depending on emissions reductions) Heat waves: more extreme heat in summer, less extreme cold in winter Precipitation: more extreme events Sea level rise: 1-4 feet (plan for 6 feet in high risk areas) Hurricane frequency/intensity: still uncertain, but SLR exacerbates vulnerability National Climate Assessment, 2014

10. 10 C ONCLUSIONS Case for GRC focus on both emissions mitigation and climate preparedness is stronger then ever! Good time to invest in: – Rubbers and boot makers – Gutter and culvert manufacturers – Air conditioning companies – Granite and concrete manufacturing – Nova Scotia real estate

11. 11 Green Ribbon Commission Updates

12. 12 GRC U PDATES 1.GRC in the News 2.Federal Climate Leadership Meetings 3.Preparing for the Rising Tide II (Vivien Li) 4.Boston Climate Finance Summit (Mindy Lubber) 5.Carbon Neutral City Network Meeting (Brian Swett)

13. GRC IN THE N EWS Since Last July, the GRC has been mentioned in at least 20 news stories in local and national media.

14. 14 A T THE T OP OF THE B OSTON G LOBE L IST “One of five things Boston is doing right now to prepare for the effects of global warming is working with private-sector power players through the GRC. Lots of cities have civic groups, but Boston’s is unusual: It’s rare to get CEO engagement in this kind of enterprise, which Boston’s Commission has. ” Michael Fitzgerald “How Boston is—and should be—preparing for rising seas” April 4, 2014, The Boston Globe

15. 15 GRC F EDERAL C LIMATE L EADERSHIP M EETINGS Michael Boots Council on Environmental Quality Gina McCarthy Environmental Protection Agency Ernest Moniz US Department of Energy

16. P REPARING FOR THE R ISING T IDE II: L IVING WITH W ATER Preparing for the Rising Tide (2013) provided an initial assessment of Boston’s vulnerability to coastal flooding of up to 7.5 feet above current high tide. Preparing for the Rising Tide II (2014) provides 12 examples of outstanding “Living with Water” designs used in cities around the world to decrease potential flood damage without losing the vibrancy and livability of their communities.

17. 17 C LIMATE F INANCE S UMMIT Co-Sponsored by Ceres and Bank of America Invitation-only CEO briefing for Boston area finance sector leaders Fashioned on the Ceres UN Investor Summit on Climate Risk Targeted for November-December, 2014

18. 18 C LIMATE F INANCE S UMMIT G OALS Identify the important ways that global capital markets are beginning to respond to the risks and opportunities of climate change. Highlight Boston-based investors can best respond to these opportunities and risks. Support the development of Boston as a global center of excellence in climate finance. Connect the Boston finance sector to local climate action efforts, through the Green Ribbon Commission.

19. 19 C ARBON N EUTRAL C ITIES N ETWORK 17 North American and International cities committed to an 80% reduction in emissions by 2050. A partnership between C40, the Urban Sustainability Directors Network and the Innovation Network for Communities. Funded by the Kresge, Summit and VK Rasmussen foundations First meeting in Copenhagen, week of June 16.