WEBVTT 1 00:00:00.870 --> 00:00:03.360 (inspiring music) 2 00:00:03.360 --> 00:00:05.340 There is strong and growing evidence 3 00:00:05.340 --> 00:00:07.590 of the significant competitive advantage 4 00:00:07.590 --> 00:00:09.630 that companies can gain from climate action. 5 00:00:09.630 --> 00:00:10.590 Just three examples. 6 00:00:10.590 --> 00:00:12.780 The first one is in efficiency. 7 00:00:12.780 --> 00:00:15.360 The moment companies can save energy, 8 00:00:15.360 --> 00:00:17.733 they can save cash and carbon alike. 9 00:00:20.100 --> 00:00:21.570 Our research, in fact, has shown 10 00:00:21.570 --> 00:00:24.450 that more than 50% of the emissions, 11 00:00:24.450 --> 00:00:28.230 across all the sectors, can be abated at net-zero cost. 12 00:00:28.230 --> 00:00:30.210 The second example is in talent. 13 00:00:30.210 --> 00:00:31.680 Everyone wants to work for more 14 00:00:31.680 --> 00:00:33.810 sustainable companies nowadays, 15 00:00:33.810 --> 00:00:35.460 and this numbers are only increasing. 16 00:00:35.460 --> 00:00:37.650 In fact, a survey has shown that already half 17 00:00:37.650 --> 00:00:39.780 of the employees will choose, or not choose, 18 00:00:39.780 --> 00:00:42.723 an employer based on their sustainability positioning, 19 00:00:44.190 --> 00:00:46.350 and last but not least, growth. 20 00:00:46.350 --> 00:00:48.690 Growth in the 21st century will not come anymore 21 00:00:48.690 --> 00:00:51.510 from fossil-based business models and products. 22 00:00:51.510 --> 00:00:53.070 With a forward-looking perspective, 23 00:00:53.070 --> 00:00:56.490 we already do see today that the greener products 24 00:00:56.490 --> 00:00:59.160 do enjoy significantly higher growth, 25 00:00:59.160 --> 00:01:03.153 up to 25% per annum higher than the classic versions of that. 26 00:01:05.670 --> 00:01:08.670 There are a few things that lead us on decarbonization 27 00:01:08.670 --> 00:01:09.750 and climate action, 28 00:01:09.750 --> 00:01:13.110 can and are doing differently than [Unintelligible]. 29 00:01:13.110 --> 00:01:15.150 First of all, they're fully committed. 30 00:01:15.150 --> 00:01:16.800 They are investing aggressively. 31 00:01:16.800 --> 00:01:19.860 They're, in many cases, also taking risks, 32 00:01:19.860 --> 00:01:22.260 and most importantly, I would say they have a very 33 00:01:22.260 --> 00:01:25.203 clear path towards a net-zero future. 34 00:01:26.580 --> 00:01:29.250 There's many reasons to be pessimistic, 35 00:01:29.250 --> 00:01:31.800 but there's one reason for optimism that to me stands out, 36 00:01:31.800 --> 00:01:33.093 and that is technology. 37 00:01:35.310 --> 00:01:37.860 Over the past decades, we've again and again, 38 00:01:37.860 --> 00:01:40.593 underestimated the progress that technology can make. 39 00:01:41.640 --> 00:01:43.710 But let's not make a mistake, in all the progress 40 00:01:43.710 --> 00:01:46.350 in these technologies is dearly needed to really deliver 41 00:01:46.350 --> 00:01:48.780 on the 1.5 or 2 degree path. 42 00:01:48.780 --> 00:01:50.550 So we will need to keep investing. 43 00:01:50.550 --> 00:01:52.980 We will need to up our game in the investments, 44 00:01:52.980 --> 00:01:56.310 in the risk taking, in the technology bets that we place, 45 00:01:56.310 --> 00:01:59.430 and then collectively solar, wind, batteries, 46 00:01:59.430 --> 00:02:02.700 but going forward also, electrolyzers, bio energy, 47 00:02:02.700 --> 00:02:04.860 direct air capture, and many other technologies, 48 00:02:04.860 --> 00:02:06.390 will need to play a crucial role, 49 00:02:06.390 --> 00:02:07.650 and we will need to deliver 50 00:02:07.650 --> 00:02:10.170 on this scale game that we have seen 51 00:02:10.170 --> 00:02:12.993 in the past in order to essentially save our planet.