WEBVTT 1 00:00:00.250 --> 00:00:03.720 Dr. Chaya, Dave, welcome. Dr. Chaya to you first, 2 00:00:03.890 --> 00:00:07.760 as an organization you've committed to, and are on your way to, net zero. 3 00:00:07.910 --> 00:00:10.520 What have you learned on your journey so far? 4 00:00:11.000 --> 00:00:12.080 We're starting to... 5 00:00:12.081 --> 00:00:16.960 we have a roadmap with a clear target that we'd like to achieve net 6 00:00:16.961 --> 00:00:20.760 zero by 2050 and on the way, 7 00:00:21.690 --> 00:00:24.840 we hope that we can get it down 20% by 2030. 8 00:00:25.330 --> 00:00:29.360 So right now we're in the process of execution, 9 00:00:29.361 --> 00:00:30.600 I think so far so good... 10 00:00:30.880 --> 00:00:35.120 it's on track from the initiative we have done for the past two years. 11 00:00:35.330 --> 00:00:36.280 So for the short term, 12 00:00:36.281 --> 00:00:41.160 I think we'll still be able to do it 13 00:00:41.161 --> 00:00:44.520 as we plan. But again, 14 00:00:44.521 --> 00:00:48.960 on the longer term we see a lot of uncertainty on the regulation, 15 00:00:48.961 --> 00:00:50.640 support on the technology, 16 00:00:51.500 --> 00:00:56.040 and we'd still like to revisit 17 00:00:56.440 --> 00:00:59.680 the economic feasibility of some initiatives, but hopefully, 18 00:00:59.680 --> 00:01:02.040 we're getting there, 19 00:01:02.041 --> 00:01:04.800 to get the 20% done by 2030. 20 00:01:05.270 --> 00:01:07.560 What are you seeing in Asia and Southeast Asia? 21 00:01:07.790 --> 00:01:12.720 Well, first off, Georgie, Asia and Southeast Asia is so diverse. You know, 22 00:01:12.721 --> 00:01:16.200 every country has its own unique circumstances, the economy and so on. 23 00:01:16.201 --> 00:01:19.000 So we see multi-speed across across Asia. 24 00:01:19.340 --> 00:01:24.160 And I would say that picking up on what Dr. Chaya was saying, 25 00:01:24.310 --> 00:01:28.400 that we are now moving towards a phase of... everyone's got commitments, 26 00:01:28.450 --> 00:01:31.760 targets, roadmaps, and we are really into implementation, right? 27 00:01:31.761 --> 00:01:34.520 And very much in the spirit of this COP, it is... 28 00:01:34.521 --> 00:01:38.080 how do you get things going on the ground? We're very much, you know, 29 00:01:38.081 --> 00:01:41.440 seeing companies starting to think about how you change processes, 30 00:01:41.700 --> 00:01:46.280 how you deploy resources differently, how you think about your talent model, 31 00:01:46.280 --> 00:01:49.320 how you change incentives and manage performance. So a lot is happening, 32 00:01:49.321 --> 00:01:51.280 in terms of retuning the engines, 33 00:01:51.280 --> 00:01:55.040 within these companies and these organizations, but happening at multi-speed. 34 00:01:55.370 --> 00:01:58.240 Dr. Chaya, what have you identified as your priorities going forward? 35 00:01:58.790 --> 00:02:03.760 I think we're in the process of transition to new business 36 00:02:03.761 --> 00:02:04.594 models. 37 00:02:05.060 --> 00:02:08.840 And we have to assess the physical risk and maybe a transition risk 38 00:02:08.841 --> 00:02:13.520 too, so it's a phase of transformation and right now 39 00:02:13.521 --> 00:02:16.920 our priority is how we're going to get there in terms of... 40 00:02:16.920 --> 00:02:20.240 to make sure the businesses are still viable in terms of 41 00:02:20.241 --> 00:02:25.120 performance. But at the same time, we reduce the footprint, 42 00:02:25.121 --> 00:02:29.560 from the environmental perspective. Hopefully, 43 00:02:29.561 --> 00:02:33.840 we transition to low carbon business and, and it's looking okay... 44 00:02:34.010 --> 00:02:35.960 we see a lot of opportunity going forward. 45 00:02:36.330 --> 00:02:37.280 Finally, Dave, 46 00:02:37.281 --> 00:02:41.920 how do you view the role of the chemical sector in accelerating decarbonization? 47 00:02:42.110 --> 00:02:46.520 I think the chemical sector plays a critical role in driving innovation and new 48 00:02:46.521 --> 00:02:47.354 green products. 49 00:02:47.650 --> 00:02:52.240 It is a sector that has a huge 50 00:02:52.310 --> 00:02:55.680 demand for hydrogen, for example, and green hydrogen, as we know, 51 00:02:55.850 --> 00:03:00.560 is a big catalyst for decarbonization for many economies. 52 00:03:00.561 --> 00:03:04.040 And being a demand center for hydrogen, 53 00:03:04.210 --> 00:03:08.880 we actually help catalyze some of the scale-up and growth that is needed 54 00:03:08.881 --> 00:03:11.000 for mitigation paths that we need in every country. 55 00:03:11.680 --> 00:03:12.480 What's your view on that, Dr. Chaya? 56 00:03:12.480 --> 00:03:16.680 I agree with Dave... Opportunity, not just for business, 57 00:03:16.681 --> 00:03:21.600 but by transition to green energy, which we use a lot, 58 00:03:21.601 --> 00:03:24.920 from the chemical industry perspective... it's a lot of opportunity. 59 00:03:24.921 --> 00:03:29.000 For example, hydrogen, like Dave mentioned, there also some... 60 00:03:29.001 --> 00:03:32.160 access to other renewable as well. I think for, for example, 61 00:03:32.370 --> 00:03:37.120 we're using a lot more in terms of renewable feedstocks for making 62 00:03:37.480 --> 00:03:42.160 biochemicals and biomaterials. And, and I think from the consumer perspective, 63 00:03:42.161 --> 00:03:43.400 they're aware, 64 00:03:43.401 --> 00:03:47.440 and they like to have some options to use these kinds of products. 65 00:03:48.050 --> 00:03:49.760 Dr. Chaya, Dave, thank you so much.