 What kind of world do I want to live in? I think about this question a lot. For our generation and for specifically my group of people, which is refugees, the circumstances might dismantle any vision of the future that we have. You're trying to rebuild, you're trying to make a future for yourself, and then the climate-related disaster comes and you start again. It's not about how it's affecting you now, it's about how it's affecting you your entire life. The first step to understand is that we're all a part of it. None of us are going to be left out by the crisis. We're at a stage where if we don't act now, really there won't be very much left. There are generations that will never see certain things that we grew up seeing in real life. We have to start treating this like the emergency it is. To achieve the 17 Sustainable Development Goals, we have to go from an intention to a serious commitment. Business leaders really need to rethink how they conduct their business and invest in creating systems that are climate-friendly. The action I would like to see is accountability. Structures being put in place where countries aren't just asked to do something, but they're kept accountable to the decisions that they make. There has to be that strong collaboration between government, between corporations, between youth activists to drive change forward. The world I would want to live in is a world where imagining the future is not a privilege. I want to live in a world where people do not give up on hope. Hope that a positive change is possible. The fact that you're listening today means that you are willing to make a change. Hello and welcome to the Impact Session, Navigating the Path to Net Zero. The challenge is clear. 50 free gross tonnage, GT, that is the amount of CO2 emissions per year that need to be eliminated by 2050 to avoid dangerous climate change. What isn't clear are the pathways the world must navigate to get to net zero. Nearly every nation on Earth has endorsed the Paris Climate Agreement. Industry commitments on climate actions have doubled over the last 12 months and over two-thirds of global citizens are alarmed and concerned about climate change. All stakeholders, governments, industries and citizens have now come together to radically reinvent and decarbonise the global economy. Now is the time to establish the shared priorities, structures and initiatives that will lay the foundation to accelerate progress towards the goal of net zero. And that is what we're going to be talking about today. How we can meet the challenge of our age and what we can learn from one another. My name is Laura Round and I'll be your moderator for this session. I work at the International PR Agency, Freud's, and I'm seconded to the Prince of Wales's Sustainable Markets Initiative, which is working with CEOs and chief sustainability officers around the world to accelerate the green transition. However, I am mainly here in my capacity as a wealth global shaper from London. I feel strongly, as I'm sure many of you do, that this is a generational issue. But people making senior decisions are not the people who will be living with this as much as the next generations. The magnitude of the decisions we're making right now are enormous. And I am delighted to be joined today by three dynamic thought leaders. So let me introduce you to our panel. Firstly, we have Michelle Freddo, managing director and senior partner at the Boston Consulting Group joining us from Paris. Varun Sivaram, senior director for Clean Energy and Innovation for the US Department of State from Washington, DC. Virginia Helias, chief sustainability officer at Proctor and Gamble from Geneva. And in this most recent US presidential election, climate change was a top priority for the first time. President Biden has returned to the US to the Paris Agreement and has committed to net zero emissions by 2050. So where do we stand today in terms of global commitments as we head towards COP26? And what's still to be done there, do you think? Virginia, would you like to take that question first and please? Yeah, sure. So maybe I will ground everybody on what we announced last week because we announced our commitment to be net zero by 2040 on September 14th. And this is a commitment that is across our operation and our supply chain, from raw material to retailers. And we also publish a very detailed climate transition action plan that outlines to your point not just the end destination but what is the pathway to get there. And so that's why we have been tearing targets by 2030 on what we want to do in terms of our operation of supply chain. So, you know, carbon neutrality over 2020-2030, 40% reduction in our supply chain emission, 50% efficiency, now a transportation emission by 2030 on the way to net zero. So we joined the race, but the climate work for us is not new actually. We've been at it for over a decade. We've been working on reducing our emission end to end from sourcing to manufacturing all the way to in use how the emission that people emit when they use our product and just to ground it into our product. This is why Pampers today supply chain generates 1 million tons fewer greenhouse gas emission compared to a decade ago and because they significantly reduce the amount of material. And this is why Thai detergent has avoided 15 million tons of CO2 by enabling people to wash their clothes in cold water. So the focus is not new, but what is new is the scope of our emissions. You know, the breadth, the depths and the long-term view. Because historically we had goals, but there were five-year goals. There were 10-year goals. So we never had an ambition 19 years away. And I think that's really the challenge, especially in a culture like P&G. Because when we set goals, you know, we deliver. I mean, we call it, you know, we have plans of our pledges. 19 years, that means that we need to know how to deal with many sources of uncertainties. And we'll probably talk about those. But, you know, and we spell them out very transparently in our climate transition action plan, you know. That's, that goes from how greenhouse gas emission are accounted for today, which is a nation practice and it can involve, I mean, all the way to how fast look our technology will scale. I mean, those are huge sources of uncertainty. And so our current world maps, the pathways are based on what we believe to be true today, but we can't predict, you know, with certainty how those enabling technology may advance, you know. So that's a muscle we need to learn how to flex, you know, navigating with a very high level of uncertainty while staying focused on the net zero ultimate goal. Well, this is a really timely conversation for you because you have just very recently expanded those climate commitment as you've just outlined, as well as joining the race to zero. And what I'm particularly interested to hear from you is what that process process was like to get to those new commitments, to get your company to sign up and commit to race to zero. And also, you know, you sort of touched on why it's so important, but why was that so important and how did that drive the entire company to really get behind this. So it was a long and tedious process, obviously, because I think what's different with this goal versus the previous one is that although we have a few corporate programs, but the majority of our efforts have to be delivered by and through our business units. You know, when you talk about decarbonization of your supply chain, there is no way that it can be bolted on. It has to be totally integrated in the, in the view innovation program. So, you know, this is why the goals are so important because it is about business practice, practice transformation. And, and it involves now every single employee, you know, just as you say, two thirds of people are feeling that they are personally affected by climate change. I mean, I think now we can say that all PNG employees are with these new commitments personally engaged in finding a solution. So that's very exciting, but it took a lot of internal consultation to make sure that those goals were actually actionable, that we could fit them into our existing processes and systems, you know. So we're talking about the complete engineering of how we do business. And that's the part that takes time. That's also where we realize that a big part of it we cannot do alone. And that's also culturally, you know, a big difference. I used to say, I mean, we have, we have been raised to on how to compete, you know, that's the muscle we know how to collaborate is a totally different muscle. We'll talk about that, I think later. But I think we need to talk about culture change. We need to talk about re-engineering of how we do business. So that's a lot of work, but now we have it and it's very exciting. We're going to start delivering on those pathways. That's great. So Varun is back. It was with us now live from Washington DC from State Department. So it'd be really interesting to hear from you what your takeaways have been during the General Assembly and to discuss the political side of things as well. So, you know, the most recent US presidential election climate change was the top priority for the first time. President Biden has returned the US to the Paris Agreement and has also committed to net zero emissions by 2050. So we were really keen to hear from you. Where do we stand today in terms of global commitments? What is your, the sense you're getting at the General Assembly this week? Well, look, thanks so much for having me first of all. This is an exciting week, right? This is the culmination of close to a year of the Biden administration bringing the United States' leadership back to the four. As you mentioned, Laura, when the US rejoined Paris on day one of President Biden's administration, we signaled, hey, we're back. Within one week, President Biden signed an executive order which put climate change right at the center of foreign policy and national security. Secretary Kerry, who I work for, I'm his senior director for Clean Energy. Secretary Kerry is now the first principal ever to sit on the US National Security Council completely dedicated to climate change. Within 100 days, we hosted the Leader Summit on Climate, which brought 55% of the world's GDP to the table with commitments that we were committed to keep 1.5 degrees Celsius alive. And ahead of Glasgow, top 26 in November, the goal is to get the whole world on board. We've already seen some really exciting announcements. We heard yesterday from China, for example, about ending support for overseas coal. And extremely excitingly, we heard President Biden share a new commitment about working with Congress to further double the US's commitment to climate finance around the world. Look, at the end of the day, this will be a whole-of-world effort to keep that 1.5-C goal alive. We've spent the last nine months or so working with partners and like-minded partners and allies all over the world to get to the commitments we need. Those enhanced nationally determined contributions are NDCs. And many countries are making bold strides. Look, just last week, Secretary Kerry was in India. I was fortunate to get to be with him. He launched a new US-India climate action and finance mobilization dialogue to help India reach its ambitious target of 450 gigawatts of renewable energy by 2030. That target is consistent with keeping 1.5-C in play. And as Secretary Kerry expressed, we hope India communicates that target in a formal enhanced NDC by COP. So this week, we really saw a climate front and center at the UN General Assembly. It's a super exciting time because it's the culmination of a lot of work behind the scenes. Secretary Kerry has been all over the world working with countries to get those commitments up. And I hope, Laura, we can talk in addition about what it'll take to actually meet those commitments, the implementation pathways to get to net zero by 2050. But I'll pause there. It's an exciting week. Well, it's really nice to hear such optimism, which doesn't always go hand in hand with this topic we're discussing today. So thank you so much for that insight. And that sounds very promising and hopeful. So thank you for that. Let's move on to the pathways to decarbonize even more. So I'd like to bring in Michelle from Boston Consultancy Group because BCG has identified the critical role of supply chains in decarbonization, as well as some specific recommendations that companies should take. So why is this broader lens on supply chains so important, Michelle? So thank you for having me. So, of course, I shared the enthusiasm of Barun and of Virginia about what's going on in the world. At the same time, we need to recognize what the challenges are so that we can develop the right solutions. I think, you know, one of the key words to solve it is collaboration, because as we know it's the whole system that needs to move from government developing policies from the financial world financing to corporate changing and not the least consumers changing behaviors and buying decarbonized products. So collaboration is a key word. Now, when you look at, you know, where the emissions come from, for most of the companies, not all the sectors, but if you look at it, a lot comes from scope three. In FMCG companies, clearly the scope one and two emission only represent a fraction. And therefore, you know, getting to the right value chain type of collaboration and investigation, I think is a key lever to reduce emissions. At the same time, when you look at the high-emitting sectors, when you go into where it hurts the most, you take steel, you take cement, you end up by maybe 70, 80 percent of the cost, unit cost that is increasing. But when you transfer that to the whole value chain and look to the cost of a house or the cost of a car, it's a couple of percentage points. So I think that, you know, just that reveals the fact that only a value chain approach can help solve the problem because the steel companies, if they bear the cost just by themselves, are going to go bankrupt. And therefore, getting a sense of overall how the end product manufacturer having higher margins and getting closer to the consumer, and therefore, ability to educate consumers can also share the burden to get the impact. The other thing is, of course, most of these global companies that have banks that pledges, you know, have global footprint and global suppliers. And therefore, this is also a way to have influence on other countries to make sure that they are carbonizing. They want to continue import export products in Europe or in the U.S. as the policies will unfold. And that's why the importance of a carbon price and a carbon price at the border, even if it's complicated, will help. So it requires close collaboration throughout the value chain. And another example, you take the electrical vehicle car and the end of the internal combustion engine. If you don't have the infrastructure that is being built at the same time, there's a chicken and egg type of issue. I mean, those needs to come end in end. In other words, consumers are not going to buy those cars. So I think overall, we're quite bullish about, you know, those value chain approaches where I think this is where collaboration and the new way of doing business will materialize, hopefully, the sooner the better. Thank you. Now, you touched upon consumers, which is such an important piece of the puzzle. And so I'd love to bring Virginia back in to talk about creating signals for green demand. Because as is abundantly clear, this is a really complex topic and one where consumers often express concerns, of course, about climate change, but don't often know what to do about it. So how is PNG working to engage consumers on climate and also to strengthen demand for green products? Yes, very important question. But often when, you know, we talk about these people say, well, but before you ask consumers to do something different, can you tell us what you do yourself, you know, and this is why I will answer your question. But I always like to start with the emissions that we control directly. And how can we reduce those? And at the same time, just like Michelle was saying, you know, send market signal and be a catalyst, you know, for the industry. And so we have a goal, for instance, by 2030 to reduce our own emission by 50%. That's a science based target. How do we do that? We need to buy 100% renewable electricity, you know. And since June, we have 97%. But the most important thing here is, it's not just about buying racks, you know, it's about investing in long term partnership so that we can create additionality on renewable energy. And we just signed a long term agreement with ADP renewables in Spain for two major projects, green and solar, that's 120 megawatt. It's 40% of all the electricity needs for PNG Europe, you know, so that's massive. And so it's important to understand that by doing that, we actually accelerate the decarbonization of the market. So that's, in supply chain as well, just to give another example, and I'll go to the consumer supply chain for us, it's 10 times the emission of our operation. So you go from operation, then supply chain 10 times. And our commitment is net zero. And to get to net zero, this is where we need to work with our suppliers so that we replace all our fossil fuel based carbon technology by either renewable or recycled or even capture carbon technology. This is massive innovation, you know, and by doing that, you send market signals of what is needed, you know, and what's interesting is that the building blocks exist today for many of those technology. But they are still needed to be proven at scale, you know, and, and like we work on on tide with a with the Silicon Valley startup on capturing the atmospheric CO2 and integrating that in our detergents, you know, this is very exciting. But this is also needed to be a proven at scale. Now SDG 12, responsible consumption, you know, those are the emission, we do not control directly. And what is at stake here is really to help bridge the intention to action gap. Because that is really what I say, you know, gloves can just issue the recently a study showing that 46% of people want to seriously change their lifestyle to be more environmentally friendly, but only 22% are making active changes. It's a 24 point gap. So why is this gap because people don't want to compromise, they don't want to compromise on super performance on value on convenience and this is where a company like us touching 5 billion people around the world and investing a lot in innovation. We can help bridge that so we can help develop and it's both innovation and education. So again, it's not what we want consumers to do is how through our innovation, we enable them to bridge that gap intention to action. And for instance, that means developing a detergent technology that can clean in cold water as well as in warm because the temperature of the water cycle account for a big part of the carbon footprint of the detergent. And this is why I L for instance, in Europe has launched recently the every degree makes a different campaign, you know, it's to enable people and to inspire people to turn the dial down and the goal is, you know, lowering the average wash temperature by five degrees and it's a lot. It's about developing detergent that rings faster so that you can spend less time with heated water in your shower. And so it's all about what we call making sustainability irresistible. So that that's the best alternative, you know, consumers go for it even actually if they are not environmentally conscious or if they don't make any change in their life, they will go there because it is the best proposal for them. And maybe just one word on the program that is for us cross sector and I mentioned it because also the web is part of the coalition it's called the 50 liter home coalition. So it is to Michelle's point, it's a cross value chain coalition, you know, all the player energy and water that have something to do with how people live in their home. And the idea is to reduce the amount of water to 50 liter per person per day. Today, it's about 150 liter in Europe because up to 500 liter in the US and doing that through innovation that allows water to be repurposed and recycled and enhanced so that it actually 50 liter feels like it's 500 liter, you know, it's the delight for consumer it's a better experience, and they save water and heated water so energy and water. That is I must say also the phrase making sustainability irresistible I really like. And also as a communication professional I must just add that I do believe there's a real perhaps in some in some case untapped area of sort of looking at how you use communications to drive behavior change. So I just, as a as I say as a conversation I can't not not mention that but that's really interesting and thank you so much. And shocking to hear the amount of leaders that is being used across the UK and the US. Now let's move on to how are we going to pull this off, in particular one of the type of new capabilities and structures and also collaboration approaches that we need to really urgently advance so Michelle let's start with you at BCG you're working with many companies around the world and who are all sorts of you know across a real broad set of industries. What new capabilities are needed here and what are some of the examples that you're seeing that show the most promise. Yeah, sure. So first let me tell you it doesn't touch all industries and all companies the same way that I would say that the first point is that the companies most of our clients in 2030 will not look like they look into in 2020 so it's a fundamental change of what the sources of competitive advantage their product their services their operation is going to look like so it's a full transformation we're talking about so it touches everything from strategy to operation to innovation to coalitions etc. So so when we're saying new new capabilities. I think one one thing that money cannot bear by his experience and therefore we are convinced there's a first mover advantage that's why we're so happy. That you've accepted us to work with you on the first mover coalition because we're convinced that those first mover will be this experience because it's complex because it's costly when you move first on CC us on the hydrogen on director capture you name it you develop the experience and you go down the experience first before the others. So it's a question of developing the new capabilities and existing capabilities deploying them into the new business. You've got you know of said they were offshore oil and gas in the Nordic. They are the leader now in a offshore wind. So they really transferred and build the new capabilities to do that. And that's good examples of redeploying your capabilities partnering with suppliers. I think that Virginia gave some very compelling example but it's also beyond your own industry thinking about you know partnering locally with the people that have too much ways to use their ways. It's a question of how do you use your ecosystem and you foster innovation at the local level in the way you didn't do it before. There is also a question of being able to do all this because let's face it. It's not just about doing better what we've always been doing. There's a need for invention and culturally you know you were talking to me we're asking good engineers. That's what we have in our big corporations to agree on commitments and they only know how to get to those commitments with some of the leaders but not all the leaders. So they require some big bets so that we can start in innovation and making bets in advance. You know I look at mass when they order for one point four billion eight methanol powered vessels. This is a this is a big bet. So when when all companies are starting to really invest in the new world in advance of policies and probably in advance of what the other sectors. I think that they're really doing that in the right way. The other thing that I wanted to say on on on the on the element where we see the winners really acting is because they're in advance they can help policy makers shape the right policies and that's a very important element because those policies need to be careful that they are really helpful in terms of developing you know capabilities and innovation at the company level and therefore acting and influencing them as you are developing them. So just to give some example. I think these were some of the dimensions where you can really make the difference by being your first mover at that point. Always be my big experience because you're developing the new sources of competitive advantage so you can't rely on what you've done in the last 50 years or more. That's really interesting. Thank you so much. Now I just I'd love to bring them back in because it'd be really interesting to get a sense of the mentality at the US State Department and in particular sort of your your sense on on what works between when you're looking at approaching private and public collaboration. What new types of partnerships and collaboration capabilities. Do you think we need between governments and the private sector in order for it to be more effective. Great question. And also it's been wonderful to listen to Michelle and Virginia and Michelle thrilled to partner with you at BCG and thrilled to partner with the World Economic Forum on the first movers coalition. You guys will hear a lot more about it in the coming weeks. But to answer your question. Let's just walk back. Like I told you the United States has put climate change right at the center of our foreign policy. This year that means we're going to make a successful COP 26 at Glasgow our top priority. We're going to get countries around the world to commit to ambitious climate targets. Next year our focus shifts to implementation. It's the United States year of implementation. And that starts with we are hosting the ministerial sessions of the Clean Energy Ministerial and Mission Innovation. We just held the major economies forum where leaders from around the world got together on September 17 and we committed to focus on clean energy targets next year when we subsequently reconvene it. We'll also chair the International Energy Agency. So the idea is next year we're focused on getting the countries around the world who have all made ambitious commitments and we're one of them. We made a commitment to reduce our emissions by 50 to 52 percent in 2030. The goal is to get every country together to accomplish the raised ambition. Now we know what we need to do. Look I come from the energy field and energy as you know is 75 percent of emissions. So I'll focus on clean energy transition. The clean energy transition kind of segments into two main topics right and both have clear deliverables in this critical decade between now and 2030. The first main branch is deployment. We have a bunch of technologies that are commercially ready to go. The cost effective wind and solar power and electric vehicles and batteries. It's time to deploy the heck out of them. And that's what we can do between now and 2030 just to give you a sense of scale. The International Energy Agency tells us that we have to build the world's biggest solar farm every day between now and 2030 to be on the right deployment pace where we're quadrupling solar and wind deployment thousand gigawatts or more per year by 2030. That's kind of one brand. We know what to do there. And 80 percent of the reductions we need to get to by 2030 are going to come from technologies we already have. The other branch though which is equally important and which Michelle just talked about is innovation. Innovation is going to represent 50 percent of the emissions reductions will need for net zero by 2050. Think about that again in 2050 50 percent of the reductions we've achieved our goal of keeping 1.5 C within reach 50 percent will have come from technologies that today are not ready for market. And Michelle named several of them and so did version. That means that in this decade we need to bring those technologies to scale and we do that in a couple ways. One way is we invest in research and development and demonstration governments and private companies around the world. This is a very important thing that governments can do before I joined the special presidential envoy for climate and the Biden administration. I wrote a book called Energizing America which laid out a pathway for the U.S. to ramp up its clean energy research development and demonstration investment. Of course President Biden has actually announced an even larger target thirty five billion dollars in our D&D. The bipartisan infrastructure bill would increase funding for critical areas carbon dioxide removal carbon capture and utilization industrial decarbonization. I have four and ten times what the targets were that we set and what we thought was an aspirational book. So it's it's an exciting time as I would say. But second in addition to the supply side investing in the new technologies. We need to do what Michelle just said which is create the demand signals the demand signals for emerging technologies that aren't yet on the market but could be. And this has worked beautifully in other fields. Look the reason we have covid vaccines today is because governments around the world set demand signals. They said look if you make these vaccines we will buy them. We'll set a price. We'll set a performance parameter. They have to work. They have to be safe. And then we will buy the loads of them and companies met the challenge. The same thing happened in space flight. The first commercial crude space flight happened thanks to a private company SpaceX because NASA set out clear performance milestones said if you meet them we will buy that flight in energy. The first movers coalition is doing this with the private sector. We're saying look if you're a private company you get a lot of inbound people are telling you to do all kinds of things. They're telling you to go net zero. They're telling you to report your carbon emissions all kinds of things. They're telling you to decarbonize your supply chains right. You're supposed to do careful accounting to figure out if you should buy a Dell Latitude or an Apple Mac book. What's the number one highest leverage thing you can do. It's to create a demand signal for the technologies that will need in 2050 that 50% of emissions reduction that we're not in a position to achieve today. And companies that joined the first movers coalition with us. They're going to set those commitments. They'll say you know a small percentage of the steel I buy or the cement or the trucking that I ship freight on or the aviation that I fly my executives on. I want to make sure that I send the clear demand signal that we've got to have zero emissions technologies by 2030. It won't be a big market but it'll be an early market that paves the way for the scale up of these technologies by 2050. And of course in addition to the voluntary private sector commitments will also work on the public sector side through initiatives like the G7 industrial decarbonization agenda to create demand from the public side. Altogether we know the milestones we got to hit. We know we'll need 100 to 400 million tons of years zero carbon steel by 2030. It's time to hit a public private partnerships and through multilateral cooperation. Brilliant. Thank you. Now we are almost out of time and but I do want to get a last word from each of you. So we've cop 26 less than six weeks away. What should be our top priorities coming out of that moment? And Visiony can we start with you? Yes. And I want to say that you know the power of cop 26 for me is the run up to it. I mean is the fact that we are talking today. It's all these reports that have been launched and the commitment that have been made that that will actually create nothing more than magic. So it's not like before and after it will be totally different. But I think that now we have people across the value chain that are committed to go to net zero. And again I would like to reinforce the two key pillars for this to happen is innovation which by the way doesn't need to be space like innovation. You know you have some very very smart innovation like replacing you know that 20 percent of trucks in Europe that basically are empty. And so they have an empty container. So we work with this starter that fold fold fold. It's called the full container. So you can have four instead of one in those type of very smart innovation at scale can make the difference. And the other one is indeed a cross value chain collaboration and collectively we need to learn how to do that at the pace and purpose that we need. So I believe that 26 is just another step in this big momentum that we are seeing. And now it's not just the pledges but onto the plans. Great. Michelle what about you. The first aspect is delivery. We've done the pages. Now we need to deliver exactly as Baron was saying and the delivery. So for me the cop is not an end. It's the continuation of the process. But really now the focus from pledges to delivery with the mindset of accelerating. We are late. The IPCC says we reached one point five degrees in 2014. Now I mean so acceleration acceleration means changing the context in terms of policy in terms of financing in terms of demand creations and signal. So we need to accelerate in the third word is collaboration. It's public private. It's vertical. It's horizontal. It's between countries. It's a big learning exercise that we need to apply to ourselves which is to foster the collaboration because we cut the same objective at the end. It's one planet. So really these three words are the key. Then because we're in a high risk of not getting there you need adaptation. And I know that probably the cop next year would be in Africa. I think we need to talk about adaptation and include in the plans of the countries an adaptation component that already today doesn't really exist. And that by the way we present a huge market as well for companies because he is going to be a huge market for that as well. And then to finalize I think that the more and more I discussed with companies and states if we don't serve the just transition in a fair way and it's not just north south. It's not south but it's within each of the countries. So because I'm French and I got the yellow jacket. This is going to happen everywhere. So we need to also think that not everyone will be affected the same way. And we need to think about the vulnerable population just to make sure that they are part of the journey and otherwise it will happen. Thank you Navaroon. Very quick final verdict from you please. Absolutely. Look three big things at cop. The number one thing is raising ambition. We want countries around the world to communicate enhanced NDCs thing to the core negotiations. We've got to conclude the rule book under which the Paris agreement is going to function going forward. And think three the cop is the biggest platform for climate and frankly it's going to be the biggest conference convening since the pandemic at all. So this is a chance for companies countries and other organizations to use that platform and signal real action. Not the kind of greenwashing things that we're worried about but real action. First Movers Coalition is one of those but there will be a range of exciting announcements at cop 26. Look forward to sifting through and finding the most impactful ones. Thanks for having me on. No thank you so much for all your contributions and I'm for one and I'm so excited for cop 26 not least well for everything we've just discussed but also as you say it is the first gathering since the pandemic. Thank you all so much for coming on Michelle, Varun, Virginia you've given us a really great understanding of the work that lies ahead. Thank you so much for joining in for all the work that you're doing to labour foundation to navigate these pathways to net zero. This is the end of the web stream but as this is such critically important piece of work at the forum and for our forum partners please stay on because we want to have some further discussion of you in a slightly more informal setting. Thank you all very much.