 Good afternoon, ladies and gentlemen. It's a great honor for me to introduce a leader who embodies the spirit of reform and innovation, the President of the French Republic, Mr. Emmanuel Macron. Since you were elected, Mr. President, you have only established yourself as a daring reformer who has taken on the complex challenges of our time. In France, the President initiated major reforms to revitalize the country's economy, to modernize the labor market, and to transform the pension system, a val-reaffirming your deep commitment to the progress and prosperity of your nation. But the influence of President Macron extends far beyond the borders of his home country. His heart beats for Europe. He is a very strong proponent and defender of the European Union, and works tirelessly for a stronger, more united and more resilient Europe. Under your leadership, France has affirmed itself as a central pillar of the Union and a great promoter of European integration and a great defender of common values of democracy, freedom and solidarity. On the global scene, President Macron is a voice of reason and stability in a world affected by deeper tensions and polarization. He pleads, unceasingly for multilateralism and international cooperation, be it in the fight against climate change, the promotion of peace and security, or in the defense of human rights, the world needs your leadership. Please join me in welcoming the President of the French Republic, Mr. Emmanuel Macron. Thank you very much, Professor Schwab, for your kind words. Dear heads of governments, heads of states, ambassadors, excellencies, dear friends, I shall try to be as efficient as possible so that we can have as much time as possible for discussion. But I am back here six years later to try and say a few words and to tell you where we now stand. I am delighted to see a lot of familiar faces in this room. Six years ago, I was here to say that we were going to conduct a great many reforms in France to do many things in Europe to make it more united, sovereign and effective, and I came here and I have come here today to report about what we have achieved and in delivering. What I have delivered on is what I am going to tell you about today. Indeed, over the past few years, we have engaged in important reforms for the country, our tax environment, taxes were lowered by 60 billion euros, corporate tax went from 33.3% to 25%. We also cut capital gains taxes with a flat tax. We reduced taxes both for businesses and for households. We tried to create green credits to attract green tech companies to our country. We have simplified a great many sectors, simplified processes, invested massively in healthcare, education, the labour market. We have engaged in innovative reforms of the labour market with the ordonance travail in 2017. We have reformed the unemployment benefits to make them more comparable to those of our neighbours and we worked on a pension reform in a very difficult political context because we believe they were necessary. We also conducted reforms to decarbonise our energy with an environmental planification in which we have engaged all sectors to support households, industries, our agricultural sector and we have conducted a very vigorous policy to develop public and private investments through new tools, through a more attractive ecosystem and also by investing massively in our education system, in our higher education, in our research systems. We added 25 billion in investments and two natural new talents. All of this was complemented by an ambitious European strategy. Over the past few years, all together, I have had to face a great many crises but I would like to defend Europe that was able to act. In the past few years, we were able to build the foundations of a Europe of defence which was unthinkable six or seven years ago, European funds, facilities, the start of a common programme between France and Germany and many other powers. Together, we were able to face the Covid crisis. People tend to forget this but within two months, we had a French-German agreement and three months, a European response to borrow together and build a programme to help our economies. We built major programmes in healthcare, in semiconductors, in hydrogen between Europeans to increase Europe's sovereignty and the Versailles Agenda which we started constructing in March 2022, barely after the war in Ukraine started, made us much more resilient economically and allowed us to have major investment programmes and we also as Europeans faced the crisis with a monetary policy that allowed us to keep inflation under control in record time to sustain growth and to build an economic governance which we reformed in the past few weeks allowing us to have a system that is much more favourable to growth than it was in the past. All of this is yielding results and everything I have just said very clearly now allows me to tell you that not only have we delivered but what we have delivered is working. We have created two million jobs over the past six years. We have restarted to re-industrialise our nation. We had shut down 600 factories after the financial crisis and we have already reopened 300 in the past three years, net. For four years running we have been Europe's most attractive country and that creates the most start-ups with a more fundraising both in services or in deep tech ranks, space, healthcare, energy and other sectors. Six years ago people were saying do not go too fast in decarbonising your fleet of vehicles because we are unable to produce electrical vehicles in Europe. One million EVs will be produced in France. We have four gigafactories in France now and we are deploying all key segments with a number of French regions and a number of presidents of French regions are with me today. We are European leaders in quantum, in AI. We have a fantastic talents of which the world is envious and we also have champions who have emerged and all of this was done in keeping with our objectives and our targets of the Paris Accords. We were on the wrong path until 2019 but since 2019 we have managed to double our efforts and to reduce our emissions by 2% per year and last year we reduced them by 4.6% thanks to the environmental planning, the green planning we have for the decarbonisation of many sectors. We should reach 5% per year meaning that one can have a growth innovation and job creation strategy, a strategy of greater sovereignty but also a decarbonisation strategy. There is no other model in my opinion for major European nations and all advanced democracies must work to create jobs and to reindustrialise the climate and biodiversity agenda and a sovereign approach particularly in terms of the climate and energy. We have seen how dependence makes things complicated. We saw that in the Covid crisis and in the conflict in Ukraine. Investments and results are there. We have now reaching a watershed moment because this year will be decisive. It will be decisive because France will be there to welcome you. I am blowing my own whistle here a professor but 2024 will be a truly French vintage. I hope many of you will come to celebrate the 80th anniversary of the D-Day landings in Normandy and Provence. The whole world came together to help us. Our allies, our British, American, Canadian allies and sometimes from the far reaches of the world and many of our African allies took part in these D-Day landings and we are going to celebrate that moment. Liberty, freedom and we shall try to make it useful on a diplomatic point of view. And then we will have the Olympics and Paralympics in the summer which will be an athletic but also a cultural event for us. The values of the Olympics are universal values. We will also be hosting the Francophonie Summit, it had been 33 years that we had not hosted a summit and we shall also be reopening the Cathedral of Notre Dame five years after the dreadful fire. It will also be a year of great challenges because as we can clearly see the world is re-composing before our eyes. There is a formidable acceleration of innovation, acceleration of agendas and Europe is facing great difficulties in this respect because everything is moving faster. AI is innovating at top speed. I was talking about the merits of France, it's true that we are creating and nurturing talents, we are one of the top European countries to do so but the US and China are investing a lot so we must face that agenda realistically and after the start of the conflict of the attack by Russia on Ukraine, the inflation reduction act in the US, Europe has a huge issue with the cost of energy and with decarbonisation. We can see the world divided, there is great tension between the US and China, in the Middle East and Europe, war has returned and the great risk for the Europeans is that they would end up with the wrong agenda or with an agenda that is too slow. So, let me talk about my strong beliefs, how do I envision the future? First of all, we shall do everything we can to keep the world together. We must not fall victims to the risk of division, we need an effective agenda to ensure that Russia cannot and will not win in Ukraine. It is the fate of Ukraine, but it is also the fate of our values, our collective security in Europe, in the Caucasus and elsewhere. In order to achieve this, 2024 will be a pivotal year for Europeans. We must prove that we can be visible, that we can make more efforts, whatever may happen in the United States. We will also need to work for solutions in the Middle East. We will need to fight against terror groups, which are destabilising both security but also world trade. Look at what the Houthis are doing in the Babel Mandeb and elsewhere. France is calling for massive aid and interventions to help on the ground in Gaza. France is also calling for an immediate ceasefire to provide humanitarian aid to these populations. And then a two-state political solution, which is the only one that will allow stability and peace for Israel and the broader region. I think it's a challenge for Europe, and the Europeans have a contribution to make. And then on the diplomatic side, we will need to do everything we can to make sure the world is not divided. We started in July with the Paris Compact for Peoples and the Planet that seeks to reconcile the fight against poverty and the fight for the climate and biodiversity. And we must leave no poor countries or intermediate countries, or sometimes countries that are vulnerable for many reasons. We must not leave them aside. We must re-engage in international, public and private funding through an agenda that is defined with them in terms of energy transition, climate and biodiversity. But beyond that, we need an economic agenda based on innovation and re-industrialisation. Everything we have done, the very good results I've told you about, are not sufficient, because there is an acceleration of the pace of world and innovation, an acceleration with the IRA, and what is done in quantum and AI. So in addition to the results we have obtained, six years ago I came and told you what we're going to do, and we did it. And what I would like us all to do as France and as Europe, I think we should open our step two of the attractiveness of innovation in France by consolidating our major programs, France 2030, business France, to continue to do more and remain Europe's leaders in that respect. Then we shall be moving into a second step in the reform of our labour market by making unemployment benefit rules tougher, by simplifying, hiring, everything that we can transfer to the world of business in terms of negotiations. And then again, we shall be working on simplification and speeding up things in many sectors as I said last night, simplification, acceleration, change in thresholds, reduction in the waiting times for major projects, in renewables, in agriculture, in housing. We shall be also reindustrialising with new measures to make the country more attractive, to attract new funding, and we shall be stabilising the regulatory framework in the field of energy. The past six months were dedicated to European negotiations, which have allowed us to obtain a European market that will be much more stable, much better, regulated, that will depend much less on marginal costs because we have a decarbonised and stable supply of energy thanks to nuclear power. So this shall become the law to give both businesses and households greater visibility with one of the lowest carbon and cheapest and most stable energies in Europe, with long-term contracts that we shall be assigning with industrialists. We shall also continue to invest in our human capital by encouraging people to go to work. We have reformed the apprenticeship system, 250,000 apprentices was what we used to have. We now have a million a year and we shall be working with our professional school system. We shall be reforming the university system so that education is more relevant to the needs of the labour market. A number of reforms shall also be initiated in addition to new investments. We shall be strengthening investments in key sectors such as AI, quantum or climate. From that French strategy, we shall be pushing for a European agenda. We shall be continuing, based on what has already been achieved, we shall be continuing this in the year of course of European elections and Europe is the right scale to act. I truly believe that Europe has done a lot of very good things in the past few years. Together, we handled the Covid crisis very well and we handled the war in Ukraine very well. I thought the Europeans would be able to agree on this, that they would deliver vaccines, that they would, within just a few days, find a common position and initiate sanctions against Russia and stick to that position for two years. I truly believe we need to do more. We need a Europe of investments that is much stronger. To me, that is a priority. Everything I am saying about quantum, green tax or even the defence sector requires much more money. We need an investment strategy with two drivers. More European public investment, we must therefore open up a phase of reinvestment as we did during the Covid crisis, and perhaps Euro bonds, focused on priorities again, the Estonian Prime Minister had the courage, it is a country that has a reputation of frugality, had the courage to suggest that Euro bonds should be issued for defence issues for Ukraine. We must invest much more and then beside that, we must also deepen the union of our capital markets. We absolutely must have a financial Europe that is much more integrated because our continent has a lot of savings, but these savings are not circulating towards the right places, to all the right sectors. These are self-imposed blocks. If we can move forward, all 27 of us, we should. Europe must also have a more ambitious environmental agenda based on investment and innovation. We have done a lot in terms of regulation. We are the only continent that has accepted carbon neutrality and that has drawn up the rules to achieve that, but we cannot be the only ones to regulate, but also the ones who invest less. The US have decided, although they do not quite comply with well-trained rules to over-invest in their green techs and the Chinese are doing the same thing. If we are not careful of this, we will be the only ones who comply with the rules and all we will have is consumers and no industry. We must invest much more in clean techs. We must also invest much more in artificial intelligence, in semiconductors and we must have a much more consistent and coherent strategy. We will also need to renew our social Europe. I believe we need to consolidate our model, define more sustainable jobs, to continue our consultations, to accompany and provide support in these major changes, these transformations. This echoes what I said here six years ago. If we want a sustainability agenda, we must invest more, more in climate, more in AI. We must conduct more reforms, but we must also change our own model by creating more jobs in Europe, better paid jobs. Essentially, you must help me, help others, to create more good jobs. The speaker was telling me, how can we have more stability in Europe? I said, very easy, help us to give the middle classes hope. Why are all of Europe's democracies running into crisis? Because the middle class is unhappy with what we're doing. It's not just the problem for political leaders, it's a problem for businesses too. We have to change our model in that revolution. We are experiencing, we must create many more jobs and better paid jobs that will allow people to embrace the transition, particularly in a context where we have put a lot of money into Covid, in the Covid crisis, into businesses to support them in that transition. So we need good jobs, well-paid jobs, that is key for that social Europe. I said I wouldn't be talking too long, but that is the agenda as I envision it for the coming years, both for France and for Europe. I am an optimist. I believe that Europe has done a lot, has achieved a lot. There are great challenges at Liehead. This year Europe, through its elections, but it through its choices for Ukraine, for the Middle East, for its economic and social innovation, will draw up its own future. We can do this if we are ambitious. And that is my mindset at the start of this new year. Thank you very much, Mr President, for making yourself available and for further discussion. I have also received a number of questions from the audience. But let me start. I will speak English because since the discussion can take place in English now. You have spoken substantially about the agenda of Europe, the integration of Europe, but my first question would be what is actually your vision long term for the sovereignty and governance of Europe? Thank you, Klaus. For me, this is clearly one of the critical points, and I always advocated for more sovereign Europe. What does it mean? It doesn't mean killing your links, your alliances and your partnerships, but it's not to be over-dependent on critical sectors of your value chains and some geographies. I think we perfectly, when I advocated this issue six years ago, it was not totally shared. But I think we experienced during the pandemic the cost of over-dependencies, masks, some critical devices, vaccines, and we experienced during the Ukrainian war the over-dependencies on energy. So for me, a more sovereign Europe means that we have to be sure that we have European production of brain, so sovereign intelligence, I would say, key technologies and critical part of the value chain from chips to agriculture, from energy, meaning renewables and nuclear, because this is the one you produce on your soil, which is decarbonized, to critical part of your defense industry. This is absolutely critical if we want to avoid the cost of a big crisis and the fragmentation of this world. It will take a decade to do so. This is why I think in the meanwhile, we have to avoid any escalation intention. And this is why I'm part of those who are not pushing for an escalation intention between China and US to be totally frank in this room. And our strategy vis-à-vis China in this context is not the decoupling strategy but the de-risking strategy. And a fair lucid and open de-risking strategy, which is totally accepted by China, which allows us to cooperate, but which will prevent us from being too much dependent on some critical part of our value chain. But let's be clear, it's not good for Europe as well to be totally dependent on US on some part of the value chain. Otherwise, you create a sort of extraterritoriality of the dollar and Europe is not a geopolitical reality. This is the condition to preserve jobs, growth for our continent, and this is absolutely critical to preserve our voice in this world and to speak with the different countries. And I want to speak with Asia, I want to speak with Africa and so on as a European, and not as somebody being seen as totally dependent on the US and so on. And I think this is the European dream. I see some good friends and good leaders. I know that Alexander Vuxich in Serbia has exactly this agenda. And when his country is on this path for the European Union, it's precisely because the European Union is a project of not being dependent on big powers and not a project of hegemony but balance, equilibrium and respect. And this is the one I do share. So this is the path. But it will request reforms. It will request investments. It will request to avoid any escalation in tension. But it's clear that we will have to invest and make some bold decision like the one I mentioned for our capital market union, our climate and so on. Because if we are lucid today, one of our weakness in this strategy of sovereignty is that we are too much fragmented. The second is we are probably one of the critical part of this world where we regulate much more than the others and sometimes we invest less than the others. And this is not a business model. Mr. President, I have here some requests from the audience to ask questions. And I would first call on Julie Sweet, the chair and CEO of Accenture. Julie, where are you sitting? Yeah. You get the microphone. Thank you, Klaus. And thank you, President Macron, for being here and for your continued focus on making France attractive for investment. And Accenture, we're very proud of our over 10,000 people there and growing. And soon we will be opening one of our first 10 GEN AI innovation hubs in France. And so that leads me to my question, as the EU AI Act has been finalized. And there's a lot of questions around how to adopt it and how are you thinking about the balance of making sure we have absolutely the right responsible regulation and we are making sure that businesses can continue to innovate. Thank you. Thank you. Sorry. So the question is, how are you thinking about the regulation of AI and making sure that businesses are able to continue to innovate so that France can be a leader in using this power for technology to transform? Thank you very much. And obviously this is one of the critical questions. First, I'm a strong believer in AI and the fact that it will provide growth and a lot of opportunities. We launched a strategy seven years ago. And I want here to insist on the fact that France is clearly, I think, an attractive and competitive country for AI. And I think our main asset is that we have a lot of talents. We educate and we train a lot of talents. From Paris-Saclay to a lot of our universities, we have a lot of mathematicians, data scientists and a lot of talents absolutely critical for this industry. And a lot of them are employed everywhere in the world. If you go to Silicon Valley, I mean, you have a lot of AI talents and they are trained and educated in France. We want to keep them as well and to have them in our industry. But this is the first asset we have on AI. The second is we have a proper strategy and now a vivid ecosystem in the different parts of the value chain from LLM, training models, company, but as well on the hardware part. And this is the third, I think, competitive advantage of France. We do provide low-carbon pilotable and competitive energy. And it's super important for AI because one of the critical points will be to have a lot of processing and calculating capacities. So a lot of big, super calculators and quantum calculators, a lot of data centers. So a lot of energy and low-carbon energy. Nuclear plants are a great asset for that. And I launched a big strategy to deploy more. And all the regions being present here are very much engaged in this strategy. So we are competitive. We create a lot of companies. And we have more and more investments. And big tickets are being launched today in France and in Europe. I want to preserve this dynamic. So I expressed myself quite openly. I was a little bit skeptical when we rushed as Europeans to regulate. Because I think we do need a strong convergence and synchronization, especially between Europe and US on this issue. Now as for the consequence of AI and regulation, I see an agenda which should be divided in different areas. On industry, I think AI should be accompanied. We need to accelerate and clearly maximize growth and opportunities. It's quite clear that AI could be as and probably much more than robotization was a way to improve productivity of low-qualified and middle-qualified workers. And this is why this strategy is the one which could improve productivity in a lot of our countries. So we should deploy a fair, well-balanced, but ambitious strategy in this field. Second, and we have to accompany the move in terms of training and requalification for a lot of our workers. Second, it's clear that AI will have and already have some impacts on a lot of way to proceed from education, science and so on. And we have to invest much more in order to innovate and be part of this competition because it will create probably a lot of acceleration, especially on healthcare. And it's very important for a lot of these sectors. Third, it's clear that we need regulation to be sure that our collective preference are respected on the innovation I mentioned already, but especially on the functioning of our democracy. This is why one of the critical points we are working very hard on is the regulation on deepfakes and the regulation on critical impacts on our democracies. And we are coordinating with some leaders on that. I hope we will manage to have a gathering and first initiative in the months to come to precisely try to build a common framework to regulate deepfakes and AI issues, to regulate AI and users of AI in time of elections for democracies. And it's one of the, for me, the critical emergency. My last point is that we will host this year a second conference on AI. We will focus on growth but as well on safety. And this will be the best way to see how to have a proper regulation. For me, first, you need a global regulation, not just a European one. And at least you need US plus Europe. Second, you have to make some stress tests in terms of regulation, meaning you need to regulate deepfakes, you need to regulate some critical contents. And third, you have to provide a sort of regulation by design. And in a certain way, as we made, I don't want to have excessive comparison, but we learn with very complicated sector like insurance how to regulate and create and direct responsibilities. You regulate key players and they are in charge of and you make control. It will be sort of the same structure of regulation for AI. It's how to put by design some regulation, making sure that our collective preferences are preserved and operating some stress tests on the key players. Here are the main remarks I wanted to make. I have to go on Ukraine, because we have some other people who have already. Regarding Ukraine's potential NATO membership, we know Vladimir Putin considers this a no-go zone for him. And NATO has said that as long as there's war in Ukraine, this means it cannot become a member. So this provides a formula for Putin of permanent war. For as long as war continues, then Ukraine cannot achieve NATO membership. How do you get around this tricky issue? I'm sorry, I think that because with the reverberation here, it's very hard to listen properly. I hope it's not the same for you, side. Look, it's further, this is a statement of NATO and you're right. But I think what we started with NATO was very important and is very useful for Ukraine. Because we have a strong coordination between NATO members and so on. This is why what we proposed is to have some critical members bilateral agreement providing security guarantees. And it's not contingent or dependent on accession to NATO. Prime Minister Sunak made a trip a few days ago and signed such an agreement. We are finalizing the same type of agreement with Ukraine. And this is what is important for them. So you're right for a full-fledged membership, but this is in a certain way a shadow, which is very useful and a sort of pressure for President Putin. But in parallel, all the bilateral security guarantees we provide and these bilateral treaties, plus the efforts we make, are the ones to help Ukraine. Thank you for your question. My call now on Higashihara-san, the Executive Chairman of Hitachi, Japan. Thank you, Kraus. My name is Higashihara, Chairman of Hitachi. Hitachi provides intelligent infrastructure, railway system or power grid system. And Hitachi already decided to invest Thales in France, right? I'm looking forward to working with people from Thales and President Macron. My question is, you've already answered some of them. My question is how you will realize carbon neutrality and sustainable power supply after growing utilization of generative AI? As you know, generative AI will require the huge energy. Some people anticipate that the associated data center will consume a thousand times more energy in 2050 than now. This is a significant challenge. And it is not only from the sustainable power supply, but also it is a climate change perspective. So we need innovation from both the demand and the source perspective. I think it is important for us to consider about demand side. For example, we have to develop energy saving semiconductor and algorithm. And as well as energy saving and distributed use of data center. And the supply side needs to think about, you mentioned, expanding nuclear. Also, acceleration of the nuclear fusion technology development. And I'd like to know much more detail about this kind of energy policy. Thank you. Thank you. This is a very comprehensive approach, and you're right that we have to take all together climate change, artificial intelligence of all the innovation. And I think your point is very important to insist on the fact that artificial intelligence will require much more electricity and energy capacity. So what we are doing and what we will do, we are I think the first developed countries to have adopted a planification. We worked so first we started in the different sectors to reduce our consumption and to reduce our emissions. And what we did is that we designed a strategy sector by sector in order to be compliant with Paris agreement. And in fact the most complicated part is between now and 2030. And the other one is at the very end to have an actual total carbon neutrality. So we have a planification taking from agriculture to industry to a real estate, taking companies to households, the type of efforts and the targets year per year to be developed. We have some investment program, we accompany them, we invest and so on. So this is our strategy, it is adopted. Now we are deploying the strategy on our territory, region by region, because the sensitivity is not the same and it should be adapted to the territory. But having said that, what are the key pillars of this approach? First for households, the two main issues are the reduction of their consumption. And this is clearly the renovation of flats and houses. And we accompany them by financing all the renovation, all these works. It creates jobs. This is quite sophisticated. We have the first results and we will increase the efforts. Second is to change their cars and getting rid of the old car with quite high emission in order to have obviously electrical cars, but as well in the years to come, hybrid or new generation because they reduce like crazy emission. And at the same time to be sure that we produce in Europe as well these cars, to have a strategy which can be climate change and jobs and industrialization. Third, on industry, which is a big sector of CO2 emission, we have a big decarbonisation strategy. And in France it's very simple, we identify the fact that if we manage to decarbonise 50 industrial sites, just 50, we deliver half of the effort, can you imagine? But this is big steel, aluminium, cement industry, the big harbour. And from Le Havre to Marseille, coming to Paris and so on, this is what we are doing. So we are investing a lot of billions in the framework of France 2030. We started to sign this agreement and we financed long-term contracts for electricity. We financed a lot of re-engineering of the production in order to do so. This is what we are doing. And we get results because I doubled the effort six years ago when I were in front of you. We reduced by one percent per year our CO2 emission. Two years later we started to reduce by two percent per year. We did it during four years. Last year we reduced by 4.6 percent. So it's working. And it will work by this aggregated effort and the fact that we make this strategy, I think fair between the different sectors, and we have to engage the different territories and our people. And our fellow citizens are the main partners in such a strategy. They want just to be sure that there is a fair share and everybody contributes. And this is what we do. In parallel, on energy, I think we have a very good strategy and we had an historical advantage. Seventy percent of the electricity I produced is based on nuclear. I have almost no dependence on gas. By 2027 we will get rid of coal. I still have two coal plants. They are used sometimes in order not to be totally dependent, but I reduced. I closed already two. In the two to three years to come, we will get rid of all of them. So no more coal. So we will be in advance in comparison with the target of 2030. And on our energy, our strategy is based on efficiency, how to reduce emission. More nuclear, and on that we already announced six new reactors. And I will announce by June, eight new reactors. The equivalent of EPR, and we will perhaps make a mix between EPR, SMRs, and in parallel we launch a big program of innovation. I recognize a few players. And we have a new new sector because EDF is the main player and is producing EPR and will produce EPR2 in France and elsewhere. But we want to develop as well a lot of startups to deploy additional offer and to innovate to develop as well new technologies from the SMRs to the fusion to the laser and so on and so on. But in capacity, we will have the equivalent of the six plus eight reactors on top of what we have and the renovation we are making. And obviously in parallel, so efficiency, nuclear, and renewables. So we are deploying new capacities, especially on offshore wind. And we planified the new sites. What we will do in the six months to come, because all of this strategy was deployed in order to be compliant with a big electrification of our mobility and to have carbon neutrality by 2050. What we are doing is we are stressing our scenario to see if we go to the maximum and we deploy more data center, more super calculators in order to face the explosion of AI. What is the additional need in terms of low carbon electricity we have? And we will adapt our strategy between now and the years to come in order to be sure that we make compatible carbon neutrality and AI strategy. And guess what? AI is a big help to innovate much more rapidly to decarbonize some sectors and to improve the efficiency part. So I think thanks to AI and the acceleration, we will probably be more efficient on the reduction of our consumption and the efficiency pillar, but it is clear that we will probably have to increase in the years to come new reactors and new renewable capacities in order to produce on our soils low carbon electricity to have more data centers and more super calculators. It's a little bit technical, I'm sorry, but I wanted to have a comprehensive answer of your question. Mr. President, I still have here a number of questions, but I was informed that we have run out of time, but let me ask you one final question. It was very impressive, the track record you have, if I compare what you announced when you were here last time and what you have achieved. Now when you come back next time, what will be the single most important issue you will tell us you made progress? What do you feel you would be particularly proud of? This sovereignty agenda you started with, I think we are 2024, 2025 will be the years where European countries and the EU as an entity will be in a situation to decide if we want to be sovereign or not. And the critical decisions are quite simple. Ukraine, our neighborhood and especially peace in the Middle East and Africa, but stability and condition to create new good jobs in decarbonized industry and having these new sectors like AI, space, quantum, cheap and defense as a business. I think here are the pillars of sovereign approach and I think if we are able to be united, if we invest big time in these sectors, if we innovate, if we are demanding to ourselves as governments and business leaders to precisely deploy these solutions, and if we take both diplomatic decisions, especially on Ukraine, we can deliver this agenda. For me this is a critical point. Mr. President, we wish you every success in all these endeavors and thank you so much for being here today. We do wish you every success in achieving all of these audacious but necessary goals. Thank you, Professor. Perhaps I could say one word. I would like to thank you all and perhaps just a word of conclusion for all of you. Tevos is always a venue for a global conversation where people can get together. Be realistic but be optimistic. If you look at 2024, a lot of people are going to say, oh, it's going to be dreadful. But there are a lot of important things. There are going to be these celebrations in France, the Olympics and Paralympics. Of course, war is there. There are terrible disasters going on. But I truly believe that the best decisions that can change things are in our hands, within our hands. Decision makers, be they governance, regulators, leaders of the economy, NGOs and so on. I think we need to reach a consensus. And I think that consensus exists. Russia cannot win the war in Ukraine. We must do everything to rebuild sustainable and lasting peace in the Middle East. And we must create good jobs at home and decarbonise quicker. We just need to sink our agendas and align our agendas. And that's what we need to dedicate our energy to. But be optimistic for the coming year. We have everything it takes to succeed. We have plenty of assets in hand. And I believe that we Europeans have a lot of great strengths to contribute to the world. We need to dedicate our energy and optimism. May 2024 be a successful year because we've made the right decisions. Many thanks.