 Hello, good late morning from Geneva. We are on day two of the Sustainable Development Impact Summit of the World Economic Forum, which is taking place digitally, also in the context of the UN General Assembly this week. We are gathered here for a very important session titled, Sustainable Solutions for the Middle East and North Africa. COVID-19 I think has brought home for all of us the importance of really working and being on the front foot when it comes to global risks and how do they manifest themselves in all corners of the world. We are in the run up to COP26 and so there is a huge momentum now globally to really be on the front foot also in terms of the implications of climate change on governments, on business, civil society. So the global momentum is clear in the Middle East and North Africa. There is a lot of momentum in this respect. We, for example, had the April conference that the UAE convened on accelerating climate action. Egypt has had its first green sovereign bond. We are seeing new initiatives coming out from different governments in the region, including, for example, the Green Middle East initiative announced by Saudi Arabia. It is not only governments, it's also businesses that are really addressing this issue and we're very proud of the World Economic Forum to work with the regional action group for the Middle East and North Africa, some of whom the members are with us today who have identified for a while now sustainability as a key pillar of their work with us as part of what we call the stakeholder capitalism principles for the Middle East and North Africa. So the momentum is there and to look under the hood. We'll have about 40 minutes together, a discussion on the record. It will be moderated by Mina Araibi who is editor-in-chief of the National and I will now hand over the floor to Mina to guide us through the discussion and to introduce, of course, the distinguished panelists we have today. Over to you, Mina. Thank you so much, Marek, and thank you for having me moderate the session and also I appreciate the partnership that the World Economic Forum has not only with the national but also with many stakeholders in the Middle East to put a spotlight on these important issues. I just interviewed Alec Sharma, who's president of COP26 and who noted that climate change is our biggest security risk. But he also said this is an opportunity to reimagine our economies and we can truly see both sides of this coin in the Middle East. To discuss this and several other matters, we have a great panel here. We have Yasmeen Fouad, Minister of Environment in Egypt, Hassan Al-Jabri, CEO of Setco Holdings in Saudi Arabia, Majeed Ja'far's CEO of Crescent Petroleum and Ramaytha Al-Busayidi, global shaper from the World Economic Forum. So before we start our discussion, we wanted to gauge the views of all of you who are attending virtually in addition to our speakers by two brief polls. As we all know, polling doesn't always give you a complete picture, but it gives you an indication. So our first poll is asking you, our speakers and attendees, is the world on track to meet net zero targets? These are the targets that globally is agreed will be necessary to ensure that our globe can survive and that temperatures do not exceed 1.5 degrees Celsius, although many people are now saying we're lucky if we can get to 2 degrees Celsius. So if I can ask the team at the World Economic Forum to please put up the poll to see how we're feeling, whether optimistic or a little pessimistic this morning. Right, so 78, ooh, it continues to grow. We're seeing this active live poll. So 82 percent say the world is not on track to meet its net zero climate targets and 18 percent say that this is possible. Now with only 70 percent of the world really signed up and NDCs of countries are based on their own targets and meeting them, it's probably an accurate description to say that the world's on track. Our second poll is how long does the Arab world need to prepare for its post oil future? So we've given you three options. And as the poll comes up and we'll see the results, how long do we have to actually prepare for our post oil future? Okay, the polling is still happening. This is very interesting to see 20 years or 10 years, but a minority see that we have only five years. So 17, oh, it's dropping. 14 percent say we have five years to prepare. And 50 percent are saying that we have 10 years. Well, active will give you a couple of minutes in case the numbers change once again. So I think it's settled that over 50 percent think we have the next decade to get this right. Some will say we've only got five years. It really is subjective. And we all agree that different countries are in different trajectories within the Middle East. So ministry asked me, if I can turn to you first. And as we look towards COP26 being held very soon in November in the UK and as the world is thinking about sustainable solutions, what do you see as the most important outcome we should aim for from COP26? Thank you very much for that question. We all hold our hopes high on COP26. President Sharma has been even within the COVID moving around the world and together with the secretary general raising the ambition requesting countries to update their NDCs and moving towards zero net emissions. And this is really good that that momentum, you know, that momentum was not there three or four years ago when even when the Paris agreement came into force. The momentum was not as we can see it right now with the 2021 because we've all learned the lesson with the COVID-19 because the impact of climate change has been very cruel. You know, it does not really differentiate between developed and developing country or rich communities. It hits hard. It hits hard all the development process. With that momentum, I think that one thing that we all hope from the COP26 is to finalize the Paris rulebook. We cannot keep talking about reaching a consensus on a text while we all know and realize that we need to act. But reaching a consensus on the text has to be fair and balanced and has to be within the scope of the Paris agreement. No one can ever afford that we can go back to reinterpret Paris agreement or translate it. So it is a very tough job that our colleagues in the UK is working on. Egypt is supporting the UK in all its efforts. We're taking over with them the adaptation, the UK-Egypt adaptation collision. And we're raising high the portfolio on adaptation. We know how much as this is a priority to the developing countries and they need to have more support on that. We can see that this is an opportunity that should not be missed. It could really, if discussed intensively, and there is more seriousness and commitment to discuss that and put it on the table, frankly, and in a transparent manner, it can really unlock other issues that's being locked for some time. Over to you. Sorry, you raised the issue of climate adaptation. And I wanted to ask you about what Egypt is working on when it comes to climate adaptation and what you so far have seen as successful measures. One thing that we have been working on where we never thought that adaptation would be one single path that a national state or a country can do. It's really affected by all over the region. The first thing is that we have been collaborating with our African brothers and sisters to produce the African adaptation initiative in 2015. And we keep pushing on that. Secondly, at the national level, we felt that after the Paris Rulebook in 2018, we need to change the way we think at the climate change. First of all, we have uplifted at the institutional level the portfolio from just the Ministry of Environment to be at the level of the Cabinet of Ministers. So it is the Prime Minister that is heading the National Council for climate change. And this is a big success story and a policy reform that we would like really to share with other countries. Secondly, we felt that it is important. We know that there is that fight of the climate finance not reaching the 100 billion and even the fund is there. We're not giving the adaptation as we're giving mitigation and all those stuff. But what is really important is that we wanted to have a correct tool and an efficient tool in order to get decisions done correctly. So we have created the first interactive map, interactive vulnerability map, where within our huge plans that Egypt is in a very huge transformative path under the leadership of the president, we are putting in this interactive map, for example, the 16 new urban cities. So we see the impact of climate change on that city by 200 or 250, you know, after 100 years after 120 years, what will happen? And we're mobilizing more stakeholders to work on adaptation. And now we are working on our national adaptation plan in a way of packaging adaptation to involve more private sector and having more investment. And if we were able to do that, not only in Egypt but worldwide, I think adaptation will take a different path and there will be more raising ambition in that. Thank you very much. Mr. Yasmin, you took us directly to the point I wanted to turn on, which is the issue of investment and also of course the crucial role of the private sector. Governments can work hard, will need to put out the strategic output, but really it's the private sector. And I want to turn here to Hassan Al-Jabri and ask you about responsible investments in the region and the role of the private sector. How can companies make tangible changes? And perhaps you can tell us a bit more about the experience of SETCO and the advantage of ESG measures. Well, thank you very much. Very interesting question. And really this has been at the heart of SETCO for many, many years, being a Sharia investor and a responsible investor, but then becoming in 2014 a signatory to the United Nations principles of responsible investing, where we saw quite an active alignment of ESG, environmental, social and governance investing and responsible investing. Now, of course, there are a lot of important aspects there because being responsible is not by words or just trying things, but it has to be a very clear, defined process where you're evaluating the risks, the opportunities and where are you adding value. Now, it is very important to see where is the alignment of all of this, where it comes together is economic sustainability for future generations. So that's what Sharia investing and what we've been doing, and that's where responsible investing and ESG are all well aligned. Now, of course, with that, we have driven our investments through this process very carefully into that direction and started investing, turning all our investments in that guidelines. And I'll give you an example. For example, one of the funds that we've created, which is the sustainability fund, we created that immediately after becoming a signatory in 2014, early 15, where it's investing in renewable energy, in new technologies, in carbon emission reductions and capture. And basically, the fear at that time was, and when we were meeting with our counterparts is, well, how do you know what the results will be? And we were saying, okay, let's do our homework well, and this will pay off as we go. And let's talk a little bit about the results here. And the results have frankly paid off, and it has paid off very well. And here I'm talking as an investment banker, so excuse me in that language, but if you look at the five years performance of this fund, for example, compared to the MSCI World Index, you'll find that it has way outperformed by over four and a half percent on annualized basis. And this is actually speeding up more as you look at the three years, it's catching well more. Why? Because the world started rewarding these new technologies. And people started increasing these new technologies because they're actually driving the agenda well into active performance, as Her Excellency was saying, whether we're talking about saving water, whether we're talking about energy efficiency, capturing the carbon emissions. And I'll give you two examples of companies that we've invested in. We have a company called Xylem, and it goes into innovative water solutions. So it avoids leakages, pumping water in the right way, distribution, whether we're talking about residential, commercial, industrial, the whole works. And this company has actually helped people get water more efficiently and at a lower cost and also as investors, we've gained well. I mean, this company had its earnings per share grow at 12 percent annually for the past five years. And similarly, their price of the share has gone up by 21 percent annually. Another company is a waste management company, which has also shown significant growth on earning per share and also as a share price. So this is one way. Now, also there's another area which we did not touch is on real estate. When we talk investing in real estate, it's also very valuable because, as you know, the codes is improving in all the cities where they want more efficiency in electricity, more in waste management, in water usage and so on. So the more efficient your building is, the more marketable it is from a leasing perspective or even when you're trying to sell it. So it all adds up, really. And the numbers really are worth it. So I would encourage more people to invest that way. And I think that's part of also the maturity of markets, but also understanding across the board. I think if we had this conversation 10 years ago, when it would be hard to show more tangible long-term results, but also getting to that maturity, it's interesting that you raise real estate and also, of course, energy. And energy transition is one of the big issues for us in the region, both in terms of the economics of it, but also for adaptation and the changes we need to make, be it through solar renewables, but also hydrocarbons that will continue to play a role in the foreseeable future. So I want to turn to Majid at this point. Majid, tell us about this energy transition that the region is going through and what you think the opportunities are, but what are the challenges that also remain? Thank you. Good to be with you all. So before I get to the energy point, I just wanted to echo what Minister Fouad says about the importance of bringing the developing world along and really putting it front and center. Because if we fail to do that, this whole sustainability question will be lost. And if we look at the SDGs, you know, 17 very important priorities. What I'm seeing now, frankly, is all the focuses on number 13 climate action simply because, and that's not to say it's not important and our own region is going to, the temperature is going up at twice the rate. But it's because if you're in the Western world, it's the only one of the 17 that touches your life. If you're in a rich country, if you're in a developing country, most or all of these affect you. Poverty, hunger, health, education. In our region, we have half the world's refugees. We have some of the most violent conflicts. We have the highest youth unemployment. So there you've got number five, number six, number eight, peace and justice, number 16. So with all respect to Alok Sharma, for, you tell a refugee in a camp who's just escaping war that the biggest security risk for him is climate change 30 years from now, it will not resonate. And so we really need to elevate, we need to elevate our own region's priorities. Because I'm... When you say that, I mean, that's really interesting because of course the SDGs are also for the long-term planning and putting in the foundation. So yes, while violent conflict is there and so forth, I mean, we're seeing the climate events in the region that are getting more and more ferocious. And part of the problem is that people say, we have too many immediate problems, we can't do the long-term planning. So how does that happen? I mean, how do you come up with sustainable solutions when people say there's too much of an immediate crisis for me to tackle this long-term problem that needs immediate solutions? Well, that was exactly, I think, the point that the minister made well that the developing world needs help. Boris Johnson made the point very well this week. There was 100 billion committed, it hasn't been coughed up and said Europe wants to spend a trillion euros at home and US wants to spend a trillion dollars at home. They're both post-industrial economies that have had emissions falling for decades now, certainly in Europe's case. So the rest of the world, the developing world, particularly Asia and next will be Africa, is where the growth is, where the emissions are rising, the energy demand and populations. If they don't have help, then they'll be burning coal, liquid fuels, and the emissions will keep rising. Turning to our region just quickly on energy, we have half the world's oil and gas, but we also have half the world's energy subsidies, which is a point the World Bank has been highlighting for some time. There have been good efforts to tackle that. It's not easy credit to Egypt for leading the way as well as other countries in our region. The UAE has a forward-looking energy strategy 2050. There are a lot of countries that have made net zero pledges, but very few have actually put a concrete action plan, as the UAE has, 40% renewables backed up or complemented by 40% natural gas and then nuclear and other sources. Natural gas replacing coal in Asia or diesel and liquid fuels in our parts of the world is the fastest way to reduce emissions and enable renewables. It's how the United States has done it with natural gas. It's how the United Kingdom has done it. Our own production as Crescent Petroleum, over the last decade, the gas that we've produced, and we're now 85% natural gas replacing diesel, has saved 42 million tons of CO2. That's equivalent to taking a million cars off the road. We absolutely, as energy companies, need to improve our own operations. We've brought our carbon intensity down to a third of the industry average, our flaring down to practically zero, and we've been reporting our sustainability matrix for the last five years. But I think that is a big opportunity that our region can play a big part of. And oil will still be needed. Even if we have all electric cars, the fastest growing demand for oil is making things. Most of what we've relied on during the COVID pandemic, from masks to sanitizers to the screens we're using now to every single vaccine using glycol as a stabilizing agent, needs the petroleum sector. And that's about how we use it and using it cleaner. Thank you. Thank you very much, Majid. I want to remind the participants on this call that they can post their questions, and we're already getting questions that I will post to the panel. But first, I want to turn to Ramaytha, because I think this question about building a sustainable future, of course, touches upon young people more than anybody else. How can we build a sustainable future that you and the coming generations will inherit? So I wanted to ask you about this question of the immediate problems we may be facing. There are issues, for example, to do with unemployment. There are challenges that we're facing. How can that be balanced with this need to build a sustainable future? And what concrete steps do you think are necessary in the 12 months that we can see happening in the region? That's a great question. I think we need to really address the elephants in the room as well, especially as young people everywhere are actually grappling with this. And also everyone else around the world and communities that we're grappling with the impacts that were spurred by COVID-19. And I think one key thing that we as young people have learned is that we need to communicate with the world and those on the decision-making table on what we see is crucial and important. We asked ourselves as part of the global shapers community in the world economic firm, what does being a good ancestor mean? I mean, we need to really set the example for future generations as well. And as a result, we actually came up with the Youth Recovery Plan, which we authored that came up with 40 policy recommendations telling world leaders what young people truly believe are the priorities that we must work on, that we really think and no offense to anyone, that the world is actually letting us down and the future generations down. So when we asked young people what they would do differently, if they were in charge of getting our planet to net zero, for instance, the key response was that governments must include young people in the recovery plan and must lead the way with an extraordinary and unprecedented transition. And that happens through a just and green economic recovery. I mean, this sentiment was actually echoed by over 80% of the young people we surveyed. 150 countries were represented, over 2 million. All Arab countries were actually in the survey itself. And their desire for climate action was very clear that it should be an economic recovery goal that should be set for our countries for the world as well. Decision makers also and also young people have demonstrated their willingness to support politicians, vote for them and support people who are on that decision-making table who make commitments to climate action. What the youth see in this climate emergency transformation is that our economies in particular in the Arab world must really target how we generate our energy given that a lot of us come from economies that really depend on oil and gas, be it across transport, how we actually manage our buildings, how industries are actually made up. This all makes up over two thirds of emissions. And also we need to think of food in a way that is environmentally sustainable. So despite the opposition from the fossil fuel industry, youth believe that to bolster action into achieving a net zero world, we must achieve bold change. But this change must be done in a fair and just transition that really supports lower income populations and countries, which is actually home to over a billion youth around the world and that have contributed the least to the crisis yet face the greatest impacts. Also something very interesting that came up from our youth recovery plan and it's another direct result as well of the pandemic is a far more organized generation of young voters. We have young consumers and investors now, millennials who now have money and the motivation to actually make a difference with where they put their money. And they're all rallying behind urgent climate fiscal and social justice. We've heard this again and again over the two years of the pandemic that this generation poses an existential risk to institutions, especially because we just don't want businesses to actually revert back to business as usual. We actually see it as a massive opportunity for governments and businesses as well who are looking for a progressive mandate to work together with us to actually really make sure that the narrative of ethical considerations and commercial gains are really things that we can overcome and come together to really come up with inclusive governance and solutions for the world. Thank you, Nomeka. A lot of food for thought there. With all of these conversations, the biggest challenge we face, especially the moderators, is time. We've only got 15 minutes. So I'm going to ask you all please. I'm going to turn to all of you with some questions that we've had from the audience, but please try to keep your answers very concise. But Minister Yasmin, if I can turn to you to comment on what Romaita said, which is the point of the inclusion of young people in decision-making that's happening today and how you feel your experience in Egypt, how much you actually get to hear that position but also include them in decision-making. Thank you very much. I do believe that this is very important and essential not only for the fight against climate change but for the whole sustainability issue. If we're not involving them and really involving them, it's not the idea of just bringing them in conferences or just doing some awareness with them. And this is what Egypt has really done in the last two years. We have started with a very wide nation initiative called Live Green. And Live Green is mainly focusing on the involvement of the youth as well as the young children at schools. We're now streaming not the environmental issues, the local issues that's business as usual because not because these are outdated but because we need to involve global environmental challenges such as climate change, land degradation and biodiversity in the curriculum with more interactive tools. So Minister of Education is working on updating the curriculum. We are including more the global environmental challenges and then the youth are given more opportunities not only to engage like for an example, two days ago, Egypt was celebrating the International Day for cleaning the beaches. For the first time, we've started to reach out to five kilometers around the beach of Alexandria with the full participation of the youth and the civil society. And we have more examples of bringing them on Biogas Unit to mitigate climate change by creating small and medium companies for Biogas in the rural areas under decent life. Whatever there is an opportunity for the youth, we need to get them really engaged by either providing a job, getting them engaged through civil society, getting them more educated while being at school, let them work with their hands. This is the only way out. And I think in a gratitude actually our colleagues in the pre-cuff that will take place next week in Italy in Milano for having half a day for the youth. That's a brilliant idea that we need really to engage them and keeping them part of the dialogue and part of the solution and not just hearing their voices. Thank you. Thank you so much. We have a question for one of our participants but I don't have their name, so I apologize, I'm not mentioning their name. The question says, how can the West concretely support a clean energy transition in the MENA region? Meji, do you want to take that one? Yeah, so I think in the MENA region we are not homogeneous. There are countries, obviously GCC countries with significant savings and the ability to make expenditures. Then there are poorer countries, some of them while producing but without savings, Algeria, Iraq and others without even those resources. Those are the ones that really need help across these areas and it's across water as well as energy usage and how to tackle subsidies as well as infrastructure investments. And as I said, you can't be sort of ideological about, okay, we're only going to have solar power for example because at the moment at least you can't store renewable energy so you do need a complement that is cleaner than liquid fuels and natural gas is an obvious solution there. Great, thank you very much. So another question, this is from David Morrison. He says, given the positive impact improving soil health has on water scarcity, what are the panels views on regeneration and restoration activities and how can you fund them? It's a detailed question so I don't know if I have a volunteer to respond to it otherwise Hassan, I'm afraid I'm going to come to you to ask you about the actual funding of regeneration and restoration activities. I don't know if what he means is reforestation or regeneration of energy but I can talk about a few things here. There's a lot of research that is happening and now the research is being used in actual life like for example using saline water for farming. It is happening now and I just visited the farm recently and it's producing not only the cooling is done through the saline water but also the cleaning. Now of course the main aspect is also for restoration and I think there is a lot of work on restoration at this part of the South Ukraine initiative and also for the Middle East and that will help a lot the capturing of CO2 emissions in the parks and everything else and along with it a lot of other growth in mangroves and algae and so on that helps that process. I'm not sure I answered the question but there's a follow-up thing that I tried this. It was a very good answer and I think to your point about how varied the response for something like this is but I'm originally from Iraq and wanted to show about the certification but also the need for reforestation in devastated places like Iraq and Syria and Yemen and others so it is important I think in terms of funding the point that Majid was also raising that there are countries that can come and support but if you still don't even have the most basic of initiatives being taken it's problematic. Okay so our next question is from Hemi de Bourbon de Parma who asks the MENA region produces 8.7% of greenhouse gas emissions. How will the region make a splash at COP26 and what is the concrete good news you can share? So concrete good news welcome but also the region does face this challenge with greenhouse gas emissions. If I can turn to you Minister Yasmin and then also Dometha I will come to you to answer that question. Actually what I would say that the MENA region with the recent announcement from the UAE and from the Middle East initiative coming from Saudi Arabia this is something that we all see as a very big move in diversifying the economy in looking further on how best to do a low carbon emission and this is in itself is one big step that we would like to commend our colleagues in UAE and in Saudi Arabia and all other Arab region. However water remains the main challenge in the MENA region and water unfortunately if we come by paper we don't find the world water in the Paris Agreement whatsoever. So this is one thing that I believe would need more attention. We've done our part with trying to do our part but it is a fair game, a balanced game for our people so we need to work further into that and we need to have more dialogue on how water as a challenge can be overcome in the MENA region for the next few years. Thank you. Thank you very much. Rometha how can the region make a splash in COP26? I would say from the places we live and work how we commute to where we choose to place our money and energy a lot of our activities and consumer choices are resource intensive. So the best way is to kind of follow the footsteps of what young people in the region are actually doing. They are key contributors to the practice of conscious purchasing and have shown to have an influence on the market. I mean they remember the awareness of how the world should engage in the economy and despite how even COVID has disrupted consumer habits it has accelerated this conscious consumerism trend and it's only expected to grow. Something to kind of bring back on is young consumers are also very actively mobilizing their collective power as investors and clients and customers. They're leaning into the power of movements and organized citizenry. So if we're looking into in particular examples the collective power of investors working with consumer groups to focus on creating long term value and influencing that change for big business and obviously doing that and kind of pushing that agenda forward would definitely affect how companies really pursue what it means to actually create long term value and it will force them to account for the needs of all stakeholders and society at large. So I think pushing that agenda forward would be a way to make a big splash. Thank you very much Remita. You touched upon the final question I'm going to ask each of the panel to answer please, which is what is the one opportunity you see in the region for climate action? So you spoke about the strength of the consumer and also individual decision making but I'd like each of you to reflect on this question as we come to a close of this really dynamic and interesting session. What opportunity do you see in the region when it comes to climate action? So Remita, I'm going to start with you please. So I think the biggest opportunity at the moment is to focus on improving the sustainability of goods and services in the markets pushing more green procurement policies throughout the region is a way to really, really make a big impact and it's a great opportunity that they can set an example for the rest of the world. Thank you. Majid, if I can ask you to answer that question. Yes, so I totally agree with Mr. Fahad. The biggest issue we face is on water. Eleven of seventeen of the most stressed countries in the world on water are in our region and one opportunity which is massively underutilized is drip water immigration. That alone would cut our agricultural water use by two thirds and that's the biggest driver of our water use. Israel did it a long, long time ago and is far more efficient with water use and agricultural output, but across the rest of the region we're way behind. Thank you very much. I just want to ask you a following question. Do you see that opportunity for both the public and private sector? Yes, for sure, because both the public and private sector are involved in agriculture across our region as our development agencies. Great, thank you very much. Hassan, if I can please ask you the same question. What opportunity do you see in the region for climate action? Of course, I fully agree with their Excellency and with Majid about water, but since it's well covered there I'll talk about another opportunity which is on cooling. You know, cooling in the past 30 years the power needed for cooling has multiplied three times and there is now a lot of research and COST is doing plenty of research on how they can reduce the need of electricity for cooling and their research shows that it can be cut by over 30 to 40%. They already have a module house that is under construction now and we'll see the effects of that, but also there's a lot of research happening with other agencies in the government. So here, hopefully our research will be able to add value to the region but also to the world by reducing the requirement of electricity and therefore the emissions and hopefully financially that's also a much better proposition. Thank you very much. Minister Yasmin, what one opportunity do you see in the region of climate action? Energy actually and the energy mix and having renewables within the main region is one strong point that we think would be a climate action but I would like really to link that with the region need for more adaptation projects on agriculture that relates to water. So I will say that Egypt is offering to host the upcoming COP 27 that will take place in 2022. UAE will be hosting inshallah the COP 23. I think we have a unique opportunity to uplift both a climate action on energy and working together for putting upfront the needs for the region on water versus agriculture and the food security. Thank you. Thank you so much. I want to thank our incredible panel for your insight and for being really direct and answering the questions which I appreciate and again as we look at all the challenges facing the region how interconnected they are. So when we hear now from all of you be it energy, water, adaptation the policies that are needed agriculture and that's linked to food security in addition to of course energy and all the aspects of energy that keep our lives ticking over. COVID-19 has been incredibly difficult time for many but as we look to the future and as we see how we can repair recover and improve our economies there is also that opportunity to meet the climate challenge and also have a sustainable future. So with that the World Economic Forum asks you to share your continued reflections and contributions on top link and there will be further sessions throughout this sustainability summit and I thank you again for both the panel who participated so thoughtfully but also all of you who have tuned in and submitted your questions. Thank you very much and I wish you all a good day ahead.