And what role are you playing after identifying those opportunities? What role are you playing in developing, de-risking and bringing those opportunities to market?

Yeah, if maybe one imagines how we engage with clients, it's not that we would go into the country and speak with the climate or finance ministry about, hey, how can we help you on the nature side? It's more, I think that we would do upfront diagnostics to figure out how we can best help the economic sustainable development of a country and where does nature maybe play a role? We have a very long sort of country strategy development cycle at ADB.

So when projects typically come to the surface, there's very likely a year, year and a half long dialogue already ongoing and government approvals and et cetera.

So I think with these initiatives in Mongolia, so in Mongolia we do a grassland, we work on a grassland restoration initiative.

Pakistan is at Riverine ARR.

Bangladesh is a coastal mangrove afforestation project.

And here in the Philippines, it's both blue carbon as well as an agroforestry, terrestrial forest initiative.

But when you've actually invested and when the project exists, what are the key factors which you're looking for in terms of performance over time or indeed maybe a private entity who then comes and invests and operates the project? what are they going to be tracking because you talked about some specific kpis yeah you've also talked in particular about like you said this is really about creating sustainable livelihood so monitoring projects monitoring reporting verification typically we think about like carbon metrics how much carbon is being sequestered or how much carbon is avoided being emitted into the atmosphere But from your perspective, the ADB perspective, what are the KPIs which are critical to track? And I think the hard question is what are the things that we need to do to make this whole industry scale up and move away from demonstrative projects through to this much more like hundreds of billions of dollars worth of transactions each year being crowded into nature conservation and restoration? What do we need to be tracking? What do we need to be doing?