 Good morning, good afternoon and good evening from wherever you are watching. Welcome to this very exciting session as part of the climate breakthroughs today, the Nature Positive Race to Zero. As we all now recognise, the world faces these converging environmental crises that are inextricably linked, the accelerating destruction of nature and the challenge, the crisis of climate change. Now, nature underpins our global economy across these two issues. It generates approximately $44 trillion of global economic value. And as stated in the World Economic Forum's Nature and Net Zero report, which we relaunched again today, we know that it can deliver up to one-third of the required net emission reduction of 23 gigatons of CO2 equivalent that we need. I'm delighted to say, we're also releasing today with our friends and colleagues from the United Nations Environment Programme and GIZ from Germany, a very important report called the State of Finance for Nature. This report highlights that US$133 billion a year currently flows into nature, but that's a mere 0.01% of global GDP, with public funds making up 86% and private finance 14%. So, even in that very, very tiny amount that we need, a lot of it is public funds. So, as this report makes clear, we need to at least triple this by 2030 if the world is to meet its climate change, biodiversity and land degradation targets. So, it's a pretty clear question. So, it's a pretty clear question. How on earth do we scale the action and scale the finance to set in motion this systems transformation that we need? So, we're delighted to have you here watching and engaging in this conversation, and we are so excited to have some pretty major voices from the finance and private sector to take stock of this issue. Land use practices in the current context of decarbonisation, where the finance is flowing, some good ideas, what will it take? And as we head to COP26, it's imperative that we mainstream this nature and land use agenda. So, it's no different in how we look at tackling the climate crisis for most other key transformations that we are hearing a lot about today in shipping and in steel, in hydrogen and in other industry and fuel sectors. We know that delivering a nature positive, net zero future for land use will be challenging and will require a coordinated systems transformation, but with collective action, it is possible. So, before we get on to the lineup of our excellent panellists and spend the next 45 minutes or so diving into what will be quite an exciting interactive discussion, we can set the scene with some very special guests. To begin with, we have a pre-recorded message from Teresa Cristina Correa, who is the Minister of Agriculture of Brazil, one of the most important agricultural producers globally. Followed, I'm delighted to say, straight after, by Inga Anderson, the Executive Director of the United Nations Environment Programme, and who led this fantastic report that's been released today. After that, we'll move on to one of the high level climate champions, Gonzalo Mendes, but we'll go back to me first. So, we'll have an opportunity to take questions from the floor in the last few minutes of the panel, and we welcome participants to ask those questions. You can use the slider on your screen, the QR code, or the Zoom chat. And if you're watching this session on social media or the website, do share your reflections under the hashtags, hashtag climate breakthroughs, hashtag race to zero. Thank you very much. So let's watch the video, and then Inga Anderson will turn straight to you, straight after that video, for your comments. Thank you very much. It's our duty, therefore, to prioritize the reduction of global emissions of greenhouse gases. Agriculture and the bioeconomy should be ready to give their contributions. In Brazil, we work with AFINCO to reach the carbon neutrality in 2050. We seek to lead, for example, by sharing our vast experience with the agriculture of low-carbon. In the last 10 years, we have overcome our mitigation goal, and we have achieved that 50 million hectares, 20% of the Brazilian cultivated area, adopt low emission technologies. To scale these achievements, including globally, we must always promote what is most modern, the innovation in the field, therefore, cannot be excluded. The term solutions based on nature does not bring us yet the clarity necessary to formulate a really ambitious and transformative technological package. The concept can give the impression, for example, that only natural technologies would be legitimate. We believe that the best path is the parallel systems, combining the best of nature with the entire creative capacity of science. We are favorable to the holistic and open vision of what we call based on ecosystems. We recognize the existence of different paths equally legitimate for sustainability and at the same time in which we avoid the reductionism of identical responses to different realities. I am sure that we will have numerous opportunities to collectively seek solutions that will make the difference for future generations. Brazil, while its agro-environmental power is ready to do its part. Thank you very much. Well, thank you very much for inviting me to speak at this forum. And of course, it's a great, great pleasure to be here as we launch this State of Finance for Nature report, together with our friends at the World Economic Forum and GIZ. Look, Alok Sharma recently had to give a speech in which he asked his daughter's advice what he should say. And they said, pick the planet. And I think that we should be picking the planet because that really is the future here. And we should come with three clear priorities, limit global warming to 1.5 degrees, help people and nature to adapt to climate and let nature be part of the solution, and obviously secure that poorer nations get clean technology. And I do think that we are seeing a degree of momentum in the United Nations Environment Program. We're speaking about these three planetary crisis, the climate crisis, the nature and biodiversity crisis, and the pollution crisis. And these are really interlinked, but the momentum that we're trying to build with COP26, with COP15 for biodiversity, with the decade for ecosystem restorations, these three coming together allows us something to build a global alliance. And with the web stepping in and as we see from the business sector and the finance sector leaning in, we have an opportunity we cannot let go of because nature does, and this is what this report tells us, nature does hold these many solutions, our health, the quality of our lives, our jobs, temperature regulations, the housing that we built, and of course the food we eat, the water we drink, et cetera, et cetera. Now, let's be clear. Nature-based solutions and investing in nature is not a substitution for decarbonization. We have to deeply decarbonize our economies, but investing in nature is part of a long-term solution while we decarbonize and indeed to secure future life on Earth. Now, this report says that we need to spend more, and maybe it sounds like $354 billion a year sounds like a lot. Let me put it to you that that's just three times what we people spend on pet food. And if we think about per year, and so if we think about the kind of expenditure that we need to lean in on, actually it's peanuts when we're frankly talking about securing the planet and our very own future. So the business case is there for investing in nature, but we need to make it stronger and clearer. Governments need to set some guardrails around incentives, around regulations, around pushing and setting stimulus in the right direction. But the early bird will get the worm here and the business that are leading in on pro-nature, pro-positive investments will be the ones that have contributed to creating those markets. Right now, we're pouring trillions of dollars into the economy. Clearly, they need to be aligned with nature positive. We understand from IPBES, which is a twin sister to IPCC, and therefore provides the science that there are these five drivers of nature loss, of biodiversity loss. And one of these is agriculture. We need to accept what we all need to eat. So we need to ensure that agriculture doesn't work. We don't vilify agriculture. We make agriculture part of the solution. And there are people here in this group that will be speaking exactly to this. The Descupta review that Her Majesty's treasury issued recently in the UK speaks to making nature as an asset class. Understanding that labor is important, capital is important, infrastructure is important, but nature matters too. And understanding that on the national accounts as well as in the business sector. So clearly, if we want to heal that ailing planet, we need to get on this train. That is what this report speaks to. That is what we need to do. And there are within this report a series of dimensions of actions that governments need to take, that private sector can take, and that we as individual consumers in the economy need to take. And it's not impossible. It's actually the only solution forward. And so we're very excited about this report. And I really do want to thank the World Economic Forum as well as the GI said, for the collaboration that we had in, together with ourselves, the United Nations Environment Program on the state of finance for nature report. And obviously I very much want to thank the UK government as well as the Chilean presidency that is holding it right now for placing nature clearly in the context of COP25 under Chile's presidency and COP26 under the UK. Thank you very much. Thank you so much, Ingram Anderson, Executive Director of the United Nations Environment Program. And thank you on behalf of all of us on this planet for your leadership and the great team that you have over in Nairobi and spread around the world. And of course our thoughts are very much with all of your colleagues and all colleagues who are watching, who are facing very difficult times at the moment with the COVID pandemic. This balance of climate and nature is so interesting and so important. And Executive Director, if I may say so, you've put your finger on it very much so with the agricultural sector and the innovation that it can drive. We heard from the minister there from Brazil that when we're thinking about nature-based solutions and nature, it's not a backwards-looking agenda, it's a forward-looking agenda with the innovation of finance, the innovation of technology together with biodiversity conservation at its heart. It's very much the road to COP26 and beyond which is the framing of this device. And Gonzalo Menos, you're one of the COP champions. Some people might not quite understand what that means. We all do and you're working so hard on this. You've done a brilliant, brilliant job through COP25 and through COP26. And fascinatingly, for those who are not close to this space, you have been brave enough to bring together this climate and nature agenda and have what you call breakthrough initiatives also on nature and climate. Perhaps building on what we heard from the minister from Brazil and from the Executive Director of UNEP, you could explain a little bit more about that and perhaps highlight on one or two of the breakthroughs that you are pursuing to link agriculture, climate and nature-positive finance. Gonzalo Menos, COP25, slash COP26, champion, over to you, sir. Thanks so much, Dominique, and thank you to the web for setting this really fundamental topic on the road to COP26 and beyond, as you said, because at the end, most of what we're doing is beyond Glasgow and should also start positioning ourselves on the serve of continents like Africa in which this agenda should land very, very actively. Let me explain why nature-based solution is so important in our agenda as high-level champions, but mostly, as you said, Dominique, what does it mean to reach a breakthrough or what's the ambition of the breakthrough? So in simple numbers, to stay within 1.5 degrees by 2050 means that once I want third of the emissions, we'll have to be reduced from real industry transformation across all sectors, some we know very hard to abate at the moment. We have also accepted scientific consensus that leaving one-third of remaining emissions in the atmosphere is the most we can accept without excessive damage. This means the remaining one-third will have to be put back into the carbon sinks, primarily land by restoring degraded land and completely transforming how we farm all of our food. So, of course, we must immediately hold emissions from land conversion that only make the climate health, and development issues worse the longer we wait. If this doesn't happen, many of the net-zero commitments being made today will not be feasible in the overlocked climate equation. So agriculture alone plays a critical role, as is the largest driver of land-use change and deforestation in the tropics accounting for more than 90% of the estimated forest loss in the last two decades. So while all of this, of course, may sound daunting, the good news is that first, it is possible. Second, it is good business. And third, the benefits to resilience are just as great and vastly justified taking action. It is very clear to us that nature-based solutions exist, are mature, are cost-effective, and are scalable. Recently, some scientific collaborations like Drodon have collected the existing investable and scalable solutions to reverse climate change and rank them accordingly to the abidement potential. The result is staggering as much as 270 gigawatts of CO2 equivalent can be removed through nature-based solutions. Our campaign partners, Exponential Roadmap, they have a research that is consistent with this, indicating that as much as 98 gigatons of CO2 equivalent can be reduced and removed from the atmosphere by as early as 2030. Furthermore, nature-based solutions also deliver co-benefits like more biodiversity. We have on the other side the fire draw flood preparedness, the economic diversification resulting in hence resilience, which is equally important in addressing climate change and of delivering on the SDGs. This is nothing short of a complete overall of the way we use land, pivoting from the present net source of 24% of global greenhouse gas emissions to an equally large net sink. All of this cannot be done without a commensurate level of investment overall from public and private sector. We believe that there's simply no reason why today those 600 billion of a year public subsidies to agriculture should contribute to deforestation, and on the other side are not aligned with the Paris Agreement goals as highlighted by the just rule of transition. There's equally no reason not to deploy the 300 billion per year investment required to produce the 5.7 trillion dollars on economic benefits by 2030 and the 4.5 trillion dollars on business opportunity according to the following coalition. The financial alliances like the G-Fans, the Glasgow Financial Alliance for Net Zero, which we help launch at the Earth Summit, will be absolutely instrumental in delivering on these financial and business opportunities. So when it comes to forest agriculture and commodity trade supply chains, the report we launched together with the World Economic Forum shows that of the highest potential for greenhouse gas abatement, the food supply chain is number one with 55% of decarbonization viable to nature-based solutions. Our work with all of the partners will accelerate how major food suppliers join the race to zero and our evidence demonstrate that those major food suppliers with a science-based target also have higher strength and implementation of their deforestation commitments as of forest 500. All of what I've mentioned until now is the reason why with my dear friend and colleague Nigel Topping as high-level champions for COP25 and COP26, we insight that 20% of the food supply industry adopt a science-based target aligned with 1.5 degrees by no later than COP26 this year and at the same time, 20% of financial institutions by asset answer manager commit to land conversion free investment portfolios by 2023 and to become nature positive by reversing biodiversity laws associated with investment and leading portfolios by 2030. That's what we call the breakthrough ambition on this aspect. If we do that, we can take out at least 50 gigatons of CO2 equivalent from the atmosphere by 2030 and be on our way to an entirely carbon negative food and agriculture system by 2050. So we invite all institutions to join one of our member coalitions and in doing so, joining the largest ever collective committed to the same overarching goal, having emissions by 2030 and achieving net zero emissions by 2050 at the very latest. Thank you very much. We're going to have to just hold you there because there were so many brilliant statistics that you were providing but to pivot to our panel, just those two, which were the champions challenges. Can you say that again? There was 20% of food supply. Can you say that one first? The ambition of the breakthrough is having 20% of the major food suppliers to be committed to be part of race to zero, meaning having the emissions by 2030 and becoming net zero by 2050 at the very latest. That was number one, brilliant. And then the second one was related to finance. What was that one? Right, that means that all of the 20% of the financial institutions by asset and the management commit to land conversion for investment portfolio by 2023 and to becoming nature positive by reversing biodiversity loss associated with investment by 2030. Brilliant. So those are very clear challenges. By the way, thank you so much in your role as champions with the UK COC champion to get that kind of nature and climate piece into the challenge. These are not just energy transitions or industry transitions, nature, landscapes, agriculture, food is equally part of the challenge itself. That was brilliant, Gonzalo. And thank you for all of the amazing work that you are doing. That takes us to stay with us and we'll be coming back to you. I'm sure there's questions that have been triggered. But that takes us to our panel discussion. We have got such a great group of speakers to take this baton forward that has been set out by the minister, by the executive director of UNEP, and by the COP champion from Chile. They include Raeanne Marie Thomas who's the chief executive officer of the Green Finance Institute. Welcome, Raeanne Marie. Vibh Dreyer, who's the chairman of the managing board of Rabobank. And Walter Schalka, who's the chief executive officer of Susano Holding. Now, welcome all of you. And some of you watching might be thinking, hang on a minute. When I watch these kinds of panels, I usually see someone from, I don't know, the Nature Conservancy or WWF, the Wildlife Organization. What's going on? Here are people who know all about banks and finance and companies. That's exactly the point of this discussion. To build on all of the amazing work that the civil society and NGO community have done and all of the insight that's been created to show how important nature and biodiversity is and then to explore what that means as we mainstream some of these discussions into the world of finance, the world of business and see what we can find. That is the point of the panel today. It's very, very exciting. And to that end, Rianmarie Thomas, if we could start with you. It's clear from what we're hearing that private sector finance seems to be a key part of this puzzle. The numbers are huge and we're not there yet. People are saying 133 billion a year of which a large part of that is public finance. We need to get to somewhere around 600 billion. So what are the major roadblocks that you feel are slowing down the private sector agenda from scaling these nature-based solutions? And as much as the roadblocks, what do you propose or what do you sense some of the actions that could help overcome them? Well, thanks so much, Dominic. And may I start by congratulating you on your report today? Very much look at the headlines are very arresting and I look forward to actually reading it in more detail. So quickly to answer your question, I think the challenge is really twofold. It's about decreasing flows of capital towards nature negative outcomes and increasing the flow towards nature positive activities, the scaling up that you're mentioning. And if we do both, what we need to do both, if we hope to have this global transformation and clearly, you know, this isn't going to be an easy answer. So I'm going to have to rattle through but try and keep it and try and keep it brief. But on the first point of how you decrease it, you know, what are the enablers? Well, obviously public policy can change behaviors, reducing subsidies, incentives, environmental regulation, but for the financial sector in particular, it's about understanding the risk of financing nature negative activities and equally the opportunity of investing in nature positive solutions. We've heard these mantras before when we were discussing climate and clearly, you know, there are huge intersections and overlaps between climate and nature. And fortunately, one of those overlaps is we have a bit of a green print how to do this. So on understanding risk, the task was on nature-related financial disclosures, very much following in the footsteps of the TCFD is going to be crucial. That importance of disclosure, we'd really encourage everyone for that engage, you know, to engage with the TNFD which is launching in earnest next month. But, you know, the TNFD is going to take, you know, this is a complex issue. It's going to take a few years before that framework is fully finalized. But there are things that the finance sector can already be doing to assess risk. Just earlier this week, we published our 12 recommendations for the finance sector to turn the descriptor reviews finding into action based on the inputs of over 40 financial institutions. So to your point, Dominic, huge engagement from, you know, people who've genuinely got their levers on making capital move. And the first four of those recommendations, they lay out how to begin a journey of addressing nature-related risk through using tools like trace or methodologies or frameworks like those from the CDSB or the science-based targets for nature, joining PBAF or implementing no harm to nature policies like the ones that Gonzalo has just alluded to in those targets and engaging with and applying sustainability certifications and verification, which leads me very quickly on to the second point which is how do you drive more finance at scale into nature-based solutions and nature-positive objectives? Well, again, firstly, we need to understand what is nature-positive. We need those standards and those metrics. You know, we've been talking for a while about taxonomies in climate. Well, clearly, you know, again, we've learned that lesson to know what we should be investing in. And, you know, some investment firms have already grappled, you know, started grappling with this, but they are a small group. The Nature Capital Investment Alliance, for example, is working on sharing learnings in this area and it would be really useful if national governments conducted baseline and target setting and assessed the finance gap. That's something that we called for from the Green Finance Institute so that the finance sector can understand what needs investment. It would really also signal transition risk. So, again, there are so many that, you know, there's a clear analogy here with the blueprint that we've set out for climate or green print, maybe I should call it. And plenty more to say on that, including on, you know, scalable NBS projects using concessionary or de-risking capital to support pipelines of development projects. We need demonstrators and examples to give investors confidence that returns, risk-adjusted returns are possible and to capture and share those learnings. So, in the U.K., we've got the Nature Investment Readiness Fund that we've been working on with DEFRA and the Environment Agency, or in the EIB, you have the Natural Capital Finance Facility, for example. And then my very final point, aggregation is also key. Lots and lots of micro-scale projects that are and pilots that are demonstrating how we channel capital towards nature-based solutions. But we need to find a way of establishing a fund that aggregates those investment-ready projects into a scale that would attract institutional investment. Back to you, Donic. Thank you so much, Ramary Thomas, Chief Executive Officer of the Green Finance Institute. Now, if you're watching this, you'll, I mean, it was just so interesting. There's so much going on. And you might cast your mind back to when the first time you heard the acronym TCFD, maybe several years ago, you thought, what is that? That's surely not going to kind of change anything. And look at the challenges. Look at the changes that have happened as a result. So, TNFD. You've probably heard it here just about first, if you're watching this, in Task Force for Nature-Related Financial Disclosures. Think about the impact that the financial climate risk community has had on the debate. Here comes nature. And they're going to be joined at the hip, and we are not going to be going backwards. The road to COP26 and beyond. Now, the very interesting thing about all of this, of course, is how does it actually play out in terms of those who are kind of working very much in these areas of finance? So, Viva Dreier, you are the Chairman of the Managing Board of Rabobank. It's brilliant to have you here. And thank you for all that you do in this space. Some people, unbelievably, might not know quite what Rabobank is. So, do, if you want to, just explain a little bit. But you've been leading global efforts to unlock the kinds of finance that we've been hearing a little bit about from Ray Emery and others. So, just kind of whether the agenda and how it's shaping up is this resonating with you? You've been leading this transition. What kind of role and experience have you played? And I understand there's a particular example with something called the Agri3 Fund, which might be something that people would be interested to hear about as a concrete example. Over to you, sir, Viva Dreier. Thanks for those introductions and thanks for permitting me to participate as a player in the financial sector. We are, and by no means intended to be advertising, but just to give you the reason why I'm here, we are a major food and ag bank in the world. And in fact, with Dutch heritage, there is a stellar statistic, which is the following, that half of the food that's being eaten in the world is touched by companies that somehow or another are a client of Raubank. And this gives you an enormous responsibility to be precisely in the middle of the conversation that was just taking place. And on a funny anecdote, I am frequently called by our clients and when I meet CEOs of major food companies, they call me the NGO of the banking sector. Not because I talk banking, but because I talk change in nature. I talk climate change. I talk sustainable practices. And we have challenging conversations with major players saying, you need to take responsibility. I think we're doing and living precisely what many of these commitments that are related to the Paris Agreement require us to do. Now, I think there are also some challenges on this and I'll talk a little bit, permit me to talk a little bit about the challenges. I'll talk about what we do. The challenges are that even if you have this mindset that we have, it's pretty tough to make these commitments measurable and quantifiable, particularly when you talk about these scope three emissions that are public commitments require us to drive down to the Paris Agreement and the bandwidth of 1.5 degrees. These scope three emissions are the emissions that our clients cause. Now, if you're in some way shape or form related to so much of the food supply chain, you're being asked to push half of the global food supply to Paris. That is simply a ridiculous request. So in a sense, what we need to find is a way of quantifying it and also enabling players like Robert Bank, but all the other financial institutions to be a driver. I think there is also a case made that that's a Gonzalo made, which is actually most of these things are in the money. So from a bankable point of view, if we can find a way to build up the trickles of finance that are there today to build the experience to de-risk the value chains to build understanding many of the flows that are being talked about which are astronomical numbers actually will move. And I think we're seeing the beginning of that. There are some real constraints and our initiatives are involved in those. But I think the most important mindset that I'd like to bring across in this conversation is I think we're going to a phase where the banks are committed, where the financial institutions are committed, where the investment funds are committed, where the pension funds are committed. But that's not the point. The point is we need to find a way to enable the farmers in the food supply chains to have an incentive to participate. And banks have a role to play and there are two moments of truth in the life of a farmer, if I would characterize them. One is when an investment takes place. And so what we are doing as a bank is to make all the financing decisions. When we do finance a farmer, there are a set of conditions that are looking at emissions, that are looking at nature-positive practices, that are looking at biodiversity practices, that are looking at practices that you can just tick off and you make that conversation an equal paragraph as the conversation that you typically do as a bank when you look at the economics. The moment of investment is a moment of truth. The second moment of investment is actually the year, the cropping season. And we think that there is actually the best solution that we can bring to the planet. All of us is to find these nature-positive agriculture practices and to actually make it a living income for farmers. If we measure the CO2 captured by farmers and we compensate them for the CO2 that they capture, their income actually goes up. The reality of the biggest slice of the global food supply chain is that the economics are very meager. So if we can only bring some of that CO2 capture that they can provide as I think Gonzalo eloquently illustrated based on reports and the practices, if we can compensate them for that, their business model changes and they become an ally. They become an entrepreneur. They become the hero of the transition that we face. So the initiatives that we use at our bank, for example, take is to help. And the Agritif fund that you talked about is one of such an example where we pair up with the United Nations Environment Program. We create a fund of a billion and the real goal of this fund is to de-risk the step that the farmer takes at the moment of investment. And so this fund is actually now investing in nature-positive solutions in Brazil, in nature-positive solutions in China, actual investments at the moment of truth, de-risking that change at the moment of truth of investment. The other initiative that I want to talk about and I'll close, Donik, is what we call the Carbon Bank. And I personally am deeply convinced that this is the answer that the planet needs. A Carbon Bank is the concept whereby if we measure at the farm gate what this farmer is actually putting into the ground by change practices measuring it. And we build a system where we can compensate this farmer for that practice. A bank in between and we can sell those two clients that are in need of reductions. That's a whole new system. It's a system that the world needs and we're actively involved in building this Carbon Bank solution so that our clients, both farmers but also major food companies can go to net zero in their supply chains or on their farms. I think there's a very potent solution and if we can add Gonzalo's great numbers and I couldn't follow your speed of your numbers Gonzalo, I'm so impressed. But if you add into the mix of Gonzalo the life of a farmer and the moments of truth of a farmer and make the economics count at that moment and banks can do that because they have an opportunity to be there when that moment is there. I think we can actually realize what you're saying. Thank you. Vibdra, chairman of the Managing Board of Rubber Bank thank you so much. And if you're watching this and you're about to start your career I think a few things should be going through your head that it's not just kind of tech and electronics which is full of innovation. Here's finance and agriculture here's the net base nature based solutions here's the net zero space here's food meets farmers meets finance there's a lot going on in this agenda. So this is pretty interesting. Let us turn to Walter Schalker who's the chief executive officer of Susano. Walter, you're working if you like sort of on the ground literally trying out many innovative models. You have if I understand its sustainability linked bonds and such which you might be able to tell us more about but it'd be very interesting to kind of get your impressions of what you're hearing and what you're applying to try and create some solutions and what you feel obstacles are and ways to overcome them. Walter Schalker over to you sir. Thank you very much. Thank you. My greetings to you Dominic and to the other fellow panelists. Thank you for the opening remarks of our minister Teresa Cristina Inger Anderson and thank you Gonzalo for your outstanding role and job that you are doing in our favor in the world favor. At Susano we recognize the size of our challenge and we are proper by our purpose. We knew life inspired by trees. We are the largest pole player in the world but it's very important to do that we are 100% based on planted forest. We are planting 500,000 trees every single day. In addition to that we are recovering the gradated areas and we are planting one tree every two minutes to recover land use. We never get net native forest after 1994 on the last 26, 27 years now and it's very important to mention that you have 2.3 million hectares as a total land from that 1.4 million hectares we are using for our planted forest recovering the graded areas. In addition to that we have almost 1 million hectares 1 million hectares of land that we are preserving at this point of time. This is much more from the requirements on our legislation in Brazil that would be around 20% we have 43% of our area that is preserved on our operations. We believe there is time to action we need to do it right now we cannot procrastinate that for the next generations we cannot wait for raise to zero in 2050 we need to do it right now we need to reverse the curve of greenhouse emission immediately in the world and we are part of that. It's very important to mention to you that at this point of time we are in the few companies or few industries in the world that we are carbon negative. Last year we had a carbon sequestration of 15 million tons of carbon and then we have a sequestration more than that and offset by the scope 1, 2, and 3 emissions on our operations the net of that last year was around 15 million tons of carbon sequestration. We are based on two concepts there is what we call innovability there is innovation and sustainability and from the trees we'd like to extract more than pulp and energy we are selling energy renewable energy in the grid right now but with the help of Vib thank you very much Vib for supporting us on this process and many other banks we have been increasing our sustainability linked bones and low ends and we start from zero and right now 20% of our standing balance sheet is coming from green emissions and these green emissions is allowing us to have what we call the greening the benefit of to everyone to combine targets very stretch targets in terms of sustainability on our operations in exchange of lower interest rates this greening right now is represented around 30 base Vibs on our operations but we believe that we can do it even more in the future and I'd like to invite all the other companies to follow this opportunity because it's a window to mitigate our interest cost one side with challenges in the sustainability side to our operations we have been reaching 2 billion customers every single month in the world 2 billion customers but we understand that we can do it even more reaching the total population being part of higher carbon sequestration in the coming years and it's very important that we have another target that is very sustainable we want to replace 10 million tons of plastics in the coming years using our trees to enter not only in the pulp market but to entering on the textile markets with our fiber as well to enter on the bio oil markets with our trees and we believe that the tree tree is the right side of the equation for the future thank you very much Volta Schalka Chief Executive Officer of Suzano thank you very much I just as a quick follow up question if I may Volta you said that an incredible set of statistics about your if you like your environmental footprint but you know Viva Dreyer is no fool and he's investing in you and your products so I presume Suzano is doing quite well commercially as well could you just for those who don't follow you so closely how was your how was your commercial activities going is are you just throwing everything at the environment and commercially it's all going backwards or are you doing quite well in terms of your profits and losses and such like that we are doing extremely well we have been improving our results on the last many years we our cash flow have been improving we are selling right now to over a hundred different countries in the world large part of our production is exported right now almost 91% of the total production is exported for different countries in the world and we have been providing in one side competitiveness to the to the paper industry in the world but sustainability as well we believe that the combination of both we will allow us to combine value creation and sharing with all stakeholders we have three different pillars on our culture is people that are inspiring transform we want to create value and sharing value with all the stakeholders and it's only good for us if it's good for the world and we have been enhancing this culture in the organization in order to change the culture how we can do business and raise our voice as well Dominic because we believe that we need to mitigate or eliminate the illegal deforestation in the Amazon as well that is representing 97% of the total deforestation and this could create benefit to us and I fully believe as Vib and Gonzalo was mentioning that the the the carbon market in the future that could be regulated now in the COP26 and if all the regulators in Brazil included could be this part of the cap and trade system this could create a way to finance the future the carbonization of the world Walter Schacher very much appreciate those comments and it's fascinating to hear the range of remarks that you just made there but at the heart it's a very very profitable commercially driven company which is doing all of these other things at the same time across those three pillars there's no excuse in the kind of arena that you're working in you can see how there's the win there's the win there's the win and the heart of it is this finance piece we've got a couple of questions coming in so it's striking up a lot of interest for those watching so thank you very much we'll come to those in a second but just back to you Rianne Marie Thomas I mean you're kind of working very much you know at the the sort of policy influencing a new innovation level and you just heard I think from a couple of key stakeholders who are perhaps slightly more on the operational side of things anything that you heard resonates or strikes you and any thoughts you'd like to kind of underscore our notes to to hit upon in the work that you're doing and from what you're hearing well quite a few points actually may I start with the idea that being called the NGO of the banking sector should be an aspirational title for anyone in a financial institution who wants to aspire to lead in this space so Vibo we hope you get some competition for that title soon and then I think what really comes out to me and I'm listening to the comments here is that you know the collaboration between as you say Dominic the policy makers and the financial institution so I'm a banker of 20 years standing now finding myself sitting at that nexus between the policy makers and the city of the mainstream financial institutions and we're looking at this this challenge together you know what this is absolutely key for land use transition is you know what what is going to bring those two sectors together to try and solve this and fundamentally there's no disconnect between what the private sector wants and what the public sector wants here the economic risk of biodiversity loss is going to impact both public and private sector alike and as we've just heard so well described by Walter organizations including financial institutions they do better when economies are thriving but also when their employees feel engaged when they're in the headlines for all the right reasons and their shareholders are happy and we've seen that over the last decade and we realize where we're heading on this towards a net zero and nature positive solution future and that is a huge opportunity for those who want to establish themselves now as leaders just a couple of points though if I may about the opportunity for the public sector national government budgets are now really stretched in the aftermath of the awful pandemic and so here in the UK for example we have the environmental and management scheme which is being designed specifically with a view for private finance to be crowded in and where it makes sense for the polluter that can that the polluter should pay and therefore you know the need for government funding is reduced and can be put to work elsewhere where there is no private sector solution and you know jobs is the other topic that we haven't touched on here and that is the real glue between the public and the private sector speaking again from a UK perspective here some revenue generating nature-based solutions projects that could lead to investment are failing to get off the ground because the specialist skills that are required for example peatland restorations that's not been well enough developed so and just one final point that I want to make I showed so many other points I'd like to make but one of the points I'd like to make is about collaboration it's a point I make repeatedly when we're talking about climate and it obviously applies here on for nature solutions as well collaboration needs to be born on trust and there is still some concern that if we welcome the private sector into this agenda will we just get a little greenwashing will we start just seeing forests of monoculture trees being sold as impactful for biodiversity and that's again where the role of disclosure and even mandatory disclosure really really is key disclosure helps us stay honest and it's in its shed's light on where the barriers are to transitioning that builds trust and it reduces risk so the development of investment principles to guide us you know as before we start establishing solid taxonomies as well that's going to be really really useful and I just my final point before we go back to our fellow panellists is we've reached out to over 30 green banks recently to ask about their nature based solutions investment and it's very limited for some there's a good reason for that because their remit is specifically clean energy or energy efficiency but several have replied saying that they're struggling to find the right revenue generating opportunities so we've seen some fantastic examples actually in the US sort of building off the sort of storm water retention credits market and we've seen in Australia examples of investing in ag tech and offering wholesale loans to banks for farmers transitioning to less carbon intensive models very similar to some of the ideas that we're hearing from Rabble Bank which really just brings me back to the point you were making earlier some of the listeners who may be at the start of their careers I cannot think of anything more exciting right now than working in finance and trying to find a way of integrating science and integrating all these considerations into financial solutions and doing something that is genuinely so purposeful I certainly find it really really fantastic way to spend my time Ray Ann Marie thank you so much you touched on that disclosure issue and that trust piece there which actually if I may V. Bedraer chairman and managing board of Rabble Bank come to you we had a question that came in I think is inspired by some of the comments that you were making around the carbon bank that you mentioned and the question is carbon finance has its problems how can we avoid the mistakes we made in the past that saw small pockets of protection surrounded by much larger deforestation and I hope you don't mind and thank you very much for sending that question in anonymous but please V. Bedraer maybe that's something that you could pick up because it's clearly something that resonated or in someone who's watching's mind you're on mute sir thank you very much for that question because it actually calls out pink elephant in the room about the carbon trading history that we have not we as Rabble Bank but the world has and many of the carbon projects that were created as supply into the ETS system have had their track record of credibility problems and hence I think this concept of a bank actually and that's why we deliberately choose it is required because what you do is what you you actually commit you commit as an institution to the credibility of the credits that are being offered and traded so you actually put in the credibility of your own brand to certify that that's CO2 is real and so that's one element the second element is that certification is the key and where for example in a large initiative with called Acorn together with Microsoft where we use satellite technology to scientifically register the actual capture of CO2 in trees by small hold of farmers in Africa and if you certify with that technology then the trust can also be tracked and traced and the money given to the farmer goes only to those who have credible proof that the CO2 was actually in the trees that are on their land the trouble still sits with with the soil in the in that the technology the cost of technology to certify that the carbon that the farmer has captured in his land or her land is there is still costly on a cost per ton basis and some of the economics that Gonzalo talked about of it being in the money actually has walked away only by certification of CO2 that is in the farmer's land we really really need innovative breakthroughs on that particular design issue and so we need all the engineering skills I would almost add to Herjan Marie's plea for getting into this equation right now for engineers to join I'm an engineer I'm not a banker I'm an engineer for engineers to join to solve that problem if we can solve that problem of low cost certification of CO2 in the ground the issue of trust can easily be fixed by those two equations proper certification with technology and credibility of the intermediate institution that says I commit to the credibility of these of these this storage capture that or in originally is what a bank stands for so I just like to leave one thought if I can and that's to make the big numbers small in reality that we are talking about a problem of the size of Gonzalo that equates to the equivalent of a Netflix account cost per month for an individual so one element that we also need to bring into is the transparency side to consumers saying this is the cost of your life in terms of CO2 and this is a vehicle by which you can participate in the big chain that we just talked about by trading some of your footprint it only is about in the Western world only is about the cost of a Netflix account to fix this problem on a per consumer basis so we need to create a way to make the problem small again at the consumer level at the production level at the farm gate and at the intermediate stage by partnering the players in the chain anyway I thought I would just want to leave not an answer to your question but certainly something that helps the issue that was raised by anonymous No, Viva, thank you very much for that I love the quote a problem the size of Gonzalo related to the cost of a Netflix account you didn't think you'd hear that on this panel Gonzalo did you as the high level champion my friend no I've heard a lot of things we started with comparison with the pet industry and that brought us to the Netflix I can't love it it's wonderful well maybe it can come to you we've got so much more we could talk to I've got a couple of minutes left Walter you gave us a very good kind of follow through as well on some of those comments so if you'll forgive me I'll turn to Gonzalo and then maybe just close out Viva to your point what was interesting I think I mean I'm no expert in these things but with all that could happen and the money that could flow in it almost means that it's much more profitable for that farmer for them at that local level to be doing it this way so there's perhaps less of a need for distortionary subsidies or illegal this or illegal because there's plenty in space so you're almost kind of crowding in much better livelihoods than would otherwise been apparent which I think is where Walter might have been getting to Gonzalo we've heard a lot here and just if you can in a few seconds some takeaways for us then I'm obliged to close us out if I don't keep going Gonzalo over to you thanks so much Dominique and a lot of things that have been shared you started mentioning how this agenda historically had not been kind of related to the business I think that's a massive mistake and I think this is a kind of mixture between ignorance and arrogance that from the business leaders and I think that Weber and then Rianmarie brought brilliantly around the concept of the NGO in the banking assume that on the other side many times when you meet our radical environmental friends you're tagged in some other way as to capital is whatever let's stop talking the agenda as we heard also from Walter we're talking about how life is serially compromised for humans and millions of other species while the cost is a Netflix account I mean I think that this is urgent it's an imperative and hopefully as we have been following some concepts and agenda positioning in the last decade circular economy SG TCFD we really expect that we will see how TNFD from Rianmarie's proposal will take a relevant part of the agenda and mobilize for example also regenerative agriculture as a new trend and we really expect that that also relates very well to the importance of positioning resilience and in a race to resilience we have one of the tracks for mostly the lives of small farmers around the world many things to also share the importance of metrics baselines the importance of connecting to SDGs mostly it's I think it's clear that we have heard of how much it is happening there's no reason for inaction that we had brilliant examples coming from Susano from Bravo Bank and also from all of the knowledge from Rianmarie so thank you so much looking forward for continued collaboration towards COP26 and beyond Gonzalo Manez COP25 slash COP26 champion thank you so much thank you Rianmarie Thomas the chief executive officer of the Green Finance Institute Walter Schalka CEO of Susano Vibe Dreher chairman and managing board of Robert Bank the executive director of UNEP and of course the minister of agriculture from Brazil well there's a lot going on in this space if you thought it was sleepy in the nature and climate interface you are so wrong there's innovations to be had research to do money to be made livelihoods to help and all sorts of brilliant interventions innovations and outcomes to get involved with thank you for watching and thank you also for watching some of the virtual ocean dialogues that have been going on over the last few days check them out on the websites to look at those recordings at the World Economic Forum we're so proud to help to kind of bring these debates together and to advance the nature positive net zero agenda do check out this state of finance for nature report which we did with our colleagues from UNEP and GIZ as well as the upcoming report investing in forests the business case led by 1T.org that comes out in June and it's super exciting to see all these initiatives appearing in the space the TNFD you heard that acronym I bet pretty much here first I know Ramri and the YOR Institute will be quite closely involved in that so go to the website I'm sure to find out more there are some other great initiatives at the forum and others around us are supporting the COP Champions the LEAF coalition the COP26 presidency's food, agriculture and commodity trade fact dialogues and many more you'll find them all if you go googling on COP26 or thereabouts and there are of course other web browser services available listen we have to stop but that was brilliant it's just opening the lid I think on this fascinating area of the interface between nature climate finance for the road to COP26 and beyond thank you very much for watching