 Hello and welcome to the World Economic Forum here in Geneva. My name is Adrian Monk. I'll be moderating today's launch of nature's $10 trillion business opportunity, our future of nature and business report. I'm joined here in the studio by Akanksha Kattri, who's the report's lead author and head of the nature agenda work here at the forum. But also, on the line, we have, as you can probably see from your Zoom call, a number of champions who've worked on this report and helped us to shape its development. Perhaps the most striking example of public-private cooperation in this field is Costa Rica. And I'm delighted to say that we're joined at the very start of this by His Excellency Carlos Alvarado Kisada from San Jose in Costa Rica. So, Mr. President, just to introduce our session today, I'm going to hand over to you. Well, I want to say hi from San José Costa Rica to all of you on the panel. And I do believe this panel and this forum is very relevant to what's going on today in today's world. Nature and biodiversity have become scarce resources throughout the world and in the economies. And protecting the conservation of our nature resources, it's not only relevant for the moral survival of humanity itself, but also of the livelihoods. Whenever I see examples of conservation of nature-based solutions, you see the possibilities of ecotourism. You see the possibilities of ecosystems regenerating in terms of fisheries, in terms of other livelihoods being able to maintain throughout the time. So more and more, I do believe that nature-based solutions and conservation is not only a matter of people being enthusiast ethically and morally about preservations of species, but also of the preservation of humanity itself. And it appears to be easy to talk about this, to mention this. It appears to be really straightforward reality. But to become that policies and to make that happen and to enforce that in reality, it's completely different. It's very difficult to make that happen. And to share that with policymakers and also with businesses to be part of this is one of the great challenges. This adds up not only with the reality of climate change and the need to decarbonize the whole economy and the world, but now with COVID-19, it presents also a great challenge. I do believe that if we want to build back better, we don't have to look back after the pandemic to be as a planet as we were on January 2020. We need to look forward to a whole new reality coming out of the pandemic in terms of nature-based solutions in terms of our relation with nature and biodiversity and in how business works along with this. As I'm ending with what I start, nature, biodiversity, it's becoming more and more a scarce resource. And that's why it's becoming more and more valuable for us as humans. In a moral way, in an economic way, and in a way to preserve humanity throughout time. So this discussion in that sense is critical. It's at the core not only of the ongoing business, but also in the core of humanity being in the planning for the next decades. We hope that's a reality. It's sad that we have to disclose that in those terms. But it's the reality in which we are. I always say this, I have a seven-year-old son and he is very concerned about what the future is, even though he's seven years old. That's why this is not just another conversation. This is one of the most critical conversations we need to have as a global community. And I want to also thank and congratulate the World Economic Forum and all members that have made this report possible because it's at the core of the future of humanity. So, well, thank you very much. And let's keep on going in this direction, which is the right direction. Mr. President, thank you for your leadership and for that introduction. And I'm delighted that the Minister of Environment and Energy from Costa Rica, Carlos Manuel Rodriguez, is joining us for the remainder of this call. Before we go and hear from some of our other contributors, I want to turn first to Akanksha Katchri, who is the lead author of the report. Akanksha, can you just talk us through this figure of 10 trillion and the nearly 400 million jobs that your report identifies as potential gains from rebuilding the economy with green goals in mind? Thanks, Adrian. I also want to take the opportunity to thank the fellow panelists because they have come out today not only to support the report, but are also engaged with us on a long-term basis as members of the community of Champions for Nature. So they are taking it upon themselves, starting from now, to take the results of this report into clear action agendas. To take the topic of biodiversity and nature loss to the boardroom discussions and make it more relevant to business CEOs, heads of state and government, and ministers of economy and finance, the World Economic Forum started this initiative of New Nature Economy Report Series about a year ago. In January of this year, we released the first of this report series, which really looked at what are the risks which are material to businesses. Through the framework of risks, it identified that half of the world's GDP, $44 trillion, is moderately or highly dependent on nature loss. Moving from risks to opportunities, we are also looking out today in a very unprecedented environment. As countries and companies both are planning for a post-COVID recovery, the second report, Future of Nature and Business, identifies that a nature positive pathway can indeed create $10 trillion of business value, as well as create 395 million jobs by 2030. Now to bring this to reality, we need to be able to have systemic transitions across three socioeconomic systems. And these are first, food, land and ocean use, second, infrastructure and the built environment, and third, extractives and energy. So just allow me to give you two examples to make it a bit more real beyond just the numbers and macro statistics. I would like to take the example of agriculture, which employs about 40% of workforce globally, as well as contributes about 12% of the global GDP. However, it is also one of the biggest contributors of pollution in water, as well as our land resources. So the transition that we talk about in the report is on regenerative agriculture. And moving towards a regenerative agriculture, we can increase the biodiversity in soil. I think I'll be joined as a fellow panelist by Swentore, who in the Champions for Nature community has been talking about looking at soil as an asset class. So by shifting towards a regenerative agriculture, as well as shifting towards a nature positive economic pathway, we can create more jobs, as well as look at a soil as an asset, rather than just something that we drill and move on. A second example is in the urbanization space, something that will ring true to all of us today in this COVID space. The way we have built our cities and the urban environments means there is a huge amount of land, as well as office spaces, which are simply kept vacant or underutilized. Our research shows that this amount of land is equivalent to the size of Switzerland, which lays vacant in office spaces, parking lots, et cetera. So if going forward, we can actually create more compact environments, provides a spare nature so that animals and wildlife can take care of themselves in their own environment. So both protect, restore, and sustainably manage our land, we can move towards a scenario which will create both jobs, economic opportunities, and good outcomes for the environment. So those are just some ideas for us that we have discussed in the report. Having talked about why we should invest in the new nature economy, let me move a little towards the how we can do this. The report also identifies that to capture $10 trillion of business opportunities, we need to invest about $2.7 trillion. While this number may seem quite huge, it pales in comparison if you look at the stimulus program which was announced by the US government in just the month of March 2020, and that was $2.7 trillion. So if anything, COVID has shown us that we as humanity are capable of taking drastic changes. What is required is a decisive political will and leadership as well as business innovation and acumen. Along with the main report, the forum has also released a policy companion piece which talks about that to support ambitious business action, we also need policy across these four or five areas. One, we need to go beyond measuring just the GDP. I think, Adrienne, you were just on a panel yesterday with Sadia Zahidi, who's our head of new economy and society, and the forum is working as part of its great reset to look into this topic. How do we make sure that we are capturing the externalities of the environment in the GDP or any other measure that we look at? The second is how do we look at phasing out negative aspects of subsidies and really incentivize both farmers as well as businesses to invest in major positive pathways? A third thing that could be looked at is how do we make sure that we are investing in fourth industrial revolution technologies? The report, for example, has identified that investing in blockchain and other technologies, we could be saving more food waste than what currently goes into the system today. And the other pieces that I'd love to mention is investing in human capital. I know that the report's headline talks about 395 million jobs. However, these 395 million jobs have to be just and have to be inclusive. And that can only happen if we start investing in our human capital and make sure that they come along with us for the future. I think the president said it really well, is that it's a shame that we have to talk about the economy, we have to make that distinction of economy when it should actually be obvious to all of us. So the only message that I would want to leave here is the economy and the ecology is not at odds with each other. The economy is actually underpinned by the infrastructure that the planet and the nature provides. Thank you. Akanksha, thank you very much for that. I want to turn to the first of our panelists, Svintore Hulsetta. You mentioned Svintore in your contribution, Akanksha. He's president and chief executive officer of Norway's Yara International, which is one of the world's biggest agriculture companies. Svintore, can you just explain to us how businesses in your sector and in the food and agriculture sector more widely can take forward some of the issues raised in this report and really help forge that jobs-based growth that this report is talking about? Your Excellency, everyone, thank you so much for the opportunity to speak here today. If there is one thing that we've learned from the COVID crisis, it is that society can when we must. And faced now with overwhelming urgency, we have in a short timeframe made dramatic changes to how we live, how we work, how we travel, consume and interact. And this is exactly the sense of urgency that we now need to build on. And I'm confident that we can succeed through a combination of technology, science, collaboration and commitment. And the first report stated this very clearly, that the cost of inaction is increasing. And I would like to add that we cannot afford it and we have no insurance to cover us. This second report takes it several steps further, outlining 15 transitions in three specific socioeconomic systems. And the business community has a very clear responsibility. It's no longer profitability versus sustainability. There's a very good reason why this report is called the future of nature and business, not the future of business or nature. And if you look at the numbers and I can already mention them, $10 trillion of business value by 2030, it's an incredible number. But there's a second number that you also mentioned that I believe is equally important and that is 395 million jobs created over the next decade. And when we as business leaders look at how to innovate and how to grow, it's clear that we have to do this by creating new jobs, not by cutting jobs. And if I look at my particular area, food and land use, the key verbs are pro-nature solutions. The overriding topic for us is decarbonizing food. And how do we do that? Well, one solution is to put world-class technology directly in the hands of the farmers. One example from my own company is that we've in the past years invested heavily in digital capabilities. One solution is an app called Farm Weather that uses satellite-based technology to give farmers hyper-local weather. If you're a smallholder farmer in India, for instance, and you're faced with heavy rain, seeds and fertilizer could be washed away and your harvest is ruined. We've gone from zero users to 2 million users in less than a year. So basically technology takes the guessing out of farming. And also as highlighted in this report, regenerative agriculture, it's not enough just to protect land. We have to restore it. It's about paying back to nature. A key challenge to this is that farmers are not rewarded for farming in a sustainable way today. And we need to fix this. And the key to that is getting consumers on board and doing that through transparency in the future. And then we teamed up with IBM to do just that, to give the opportunities to consumers to reward the farmers for sustainable farming. I'd also like to take this opportunity to thank the World Economic Forum, Champions for Nature for this report. This is a milestone report. It's based on facts, science and an imperative for change. It also means, and I want to be very clear, it also means that ignorance is no longer a part for no longer an excuse for not playing your part. Thanks. Sventore, thank you very much. You mentioned in your contribution the impact on some of the poorest farmers in the world. I'm going to turn now to Hindu Ibrahim, who's president of the Association for Indigenous Women and Peoples of Chad. Hindu Ibrahim, what does this report mean for some of the people who you represent in an economy where subsistence farming is a big part of how people make their living? Thank you very much. And thank you really for this report who is coming in a very right time. And I'm actually happy to see after Davos, there is an action moving forward and supported by, of course, the president of Costa Rica and many others. You know, the report is highlighting what indigenous peoples are saying for years around the world. Nature is our basic and whole economy. And nature is the incredible source of the job where everyone can stand by. And nature is the new relationship who can be to build the business. So for me, like the report is highlighting how we can achieve SDGs and the role of the private sector to achieve SDGs. And then the most important is like the 17 goals are interlinkages. So we can just say we change the business without achieving the food security, without the health, because we are in time of the COVID. And then we are seeing that the people who are most vulnerable becoming more vulnerable because our nature, it's really impacting. And then this report is highlighting also. And the importance of the role that indigenous peoples, local communities, that playing. So for us, it's how we can be the partners. It is not how it can be like the number of how the indigenous peoples name it in the report or local community name it in the report or the farmers. It is how we can be a real partners, design all the project together, implement them together and seeing the relationship between the private sectors in our communities that change. Then the respect of the land of the resources also is changed. And another things, the report also recognize the importance of we are the one who are protecting the 80% of the world by diversity. But we do have also the traditional knowledge who are the solution for climate adaptation and mitigations and who can be helpful for the restoring the ecosystem and building the resilience for tomorrow. So that's very important. But you know, for instance, yesterday there was a scientist report who is very alarming and who say that the methane emission also leading us to miss the Paris agreement. So for me, I'm like already we have 1.5 in my community in chat and then it's science. And now internationally we say we are going to miss the objective of the parties. It's really not acceptable. But this report can give hope to see if we act now because it's time for action to honestly to build the trust and then to build like the agroforestry who needs of the communities for the food, for the daily needs. And to mitigate the conflict among the communities that fighting against the climate change. So that can be the most helpful. And how the report also can guide us for the new best relationship between the indigenous peoples' private sectors and others. So that will give us very good hopes. Thanks for that note of optimism, Hindu Ibrahim. I wanna turn now to Inga Anderson who's joining us from Denmark who's Executive Director of the UN's Environment Program. And it's also the co-chair of our Champions for Nature community. Inga, thanks for joining. Well, thank you. And let me also thank the web for bringing out this report where in fact our own WCMC colleagues have been key engaged in supporting with some of the background science. It's been a real pleasure to have this partnership. Look, as Hindu has so nicely presented for us as his Excellency, the President of Costa Rica who's a dear friend of UNEP and a dear friend of nature and a champion of nature. Have as highlighted and of course, as Sventore has highlighted, these are, if we've discovered anything about this crisis, it is the pertinence and the importance of understanding what it is we humans have done to nature and what it is that we've done by fragmenting, paving over, extracting, emitting and generally overusing what is not endless, what is not infinite, nature's resources. And by doing that, we've come to where we are. And what we've seen with COVID is of course, the stenosis, the synotic disease that comes from the animal world translates into the human population. That frequency with which these diseases have emerged in humanity has ever intensified SARS, MERS, Ebola, Rich Valley Fever, HIV-AIDS, N1, H1. Where do we stop? So the point here is that what we're seeing now is something that environmentalists, that veterinarians, that pathologists, that virologists have shown before, but that the world hasn't listened to. Now there is an opportunity to hear. And this report right now is very, very helpful because it speaks to these three overarching drivers, that pose that risk to biodiversity. Food, land use and ocean use, we are extracting, causing effluent too, overextracting and fragmenting and polluting that source. And the infrastructure and the built environment that the report speaks to, again, we heard from the key author how we have this sort of, we have this straw where we should densify and why we have not optimized urban spaces, even for livability. You live better and safer if you don't have this urban spaghetti junction and straw when you have the closer to denser built environment with small shop fronts rather than big box stores that you have to drive through, et cetera. And the final thing on the energy and extract is critical. We understand that we need steel and iron and so on. We are living in the modern world, but when we use that and when we close down old lines we need to ensure that we do that in responsible ways both in their opening, in their operation and in their use. And so the fact that the report now highlights this at the time of COVID with the business community is major. And so these opportunities that the reports highlight in terms of the transformation, in terms of the job creation, in terms of the business opportunities are very real because if we learned anything from this crisis it is also this, that we may think that this pandemic is bad, but ladies and gentlemen it is nothing compared to what climate change was delivered to us. The millions of pathogens that will be released from permafrost melt. The incredible downward spiral that we will see on economic performance. The millions of people displaced, the war and peace. I don't want to be a gloom and gloom because we still have the chance because we signed up to Paris because we have the NDCs to be submitted now at COP26. But let's take this crisis and this report before us as an opportunity, however hard and what we have learned. We understand the UNEP GAP report. We are to reach 1.5 degrees. We need to cut our emissions by 7.3% year on year between now and 2030. That's about what we reduced during the height of the lockdown. So there you have it. The answer is not to lock the world up. The answer is to flip that green switch. The answer is to invest in renewables and the answer is to transform business the manner in which this report with its 13 recommendations highlights. And I am very, very happy to see the web having taken these two reports. The first one that identified the pressure points if you like and this one that identifies the solutions. Together they present part of that reset. That we are hoping that we can see and that the web is very much authoring. And together they represent that flipping of the green switch towards sustainability and towards the 2030 goals. So with that, let me thank you very much for hosting this and for inviting this very eminent panel that is an honor to be a part of. Thank you very much. Inger Anderson, thank you very much. We want to spend the second half of this briefing getting questions. And before we do, I just want to recognize on the call two very important contributors, David Perry, who's CEO of Indigo Agriculture, joining us from Memphis in the U.S. and Elizabeth Maruma Marama, who's Executive Secretary of the UN Convention on Biological Diversity, who's joining us from Calgary. Going first to Catherine Cheney from DevEx. Can we get your question for panelists, Catherine? Yes, thank you so much. So my question builds on the policy report, but focuses specifically on low and middle income countries. So what I'd love to ask the panelists is, how do low and middle income countries put nature first, specifically as they navigate international development projects? And to build on that, what projects do they say yes and no to and why does change need to happen not just among governments and businesses, but also, for example, among development banks? Thanks for that, Catherine. That was a comprehensive set of questions in one question. I'm going to turn first, if I can, to my colleague here in the studio, Kangcha. Can you just give the first stab and answer to Catherine's question for us? Absolutely, thank you for that question. And I think that's one we debated quite a bit when working on the policy companion piece because the reality is not the same in every part of the world. However, if you look at the data today, there's more government money being invested and spent on actually processes which harm nature than actually do good for nature. So if I look at just purely investing in renewable energies versus investing in oil and gas or traditional energy sources, oil and gas today as well as traditional energy sources do benefit from subsidies as well as do benefit from just government support, which is not the case for renewables who have to go into investing money from right from the scratch in terms of investing in project phase as well as running those things. So I think the first thing that the report talks about is reviewing the subsidies as well as the carbon tax plan, and that would actually create new sources of revenue. The second thing you mentioned is about the development banks. Indeed, it is not just only about public and private capital in the traditional sense of the word, but more importantly, development banks and how they can prioritize nature positive investment. If I'm not mistaken, just this morning I was watching the news and EBRD has committed to being a green bank by 2025. So I think we need more of such leadership, but then I'd be also happy to hear from Carlos Manuel, who of course is a minister of a country and has been able to make real change happen in his country and economy. Yeah, can we bring in Carlos Manuel from Costa Rica? Minister Rodriguez, if we can hear from you. Yeah, hello, good morning, how are you all? Very good, thanks. Don't know if you caught Catherine's question there on how low and middle income countries can make this transition. And obviously in Costa Rica, you've shown real leadership in doing that, if you could perhaps share some of the ways you managed to achieve it. Yes, of course. Costa Rica is becoming a new OECD nation and is being recognized as a middle income nation as well and has been also recognized for its good governance and not having an army, a strong democracy, with a strong healthcare system that is kind of helping us in this pandemic. But everybody forgets that a couple of generations ago was the poorest nation of the Western Hemisphere. And that context is really important because we will never, ever achieve our sustainability goals and targets if we don't heavily invest in two areas. And that has been our very own personal experience here in Costa Rica. One is heavily investing in our resource, which is our human resource. Costa Rica invests a large chunk of our budget in healthcare, social universal solidaries, healthcare system and a very good educational system. As a matter of fact, when we abolished the army in 1948 and began heavily investing in education and healthcare, the leap forward in terms of human development was evident. The other element that I think is a must in terms of understanding the enabling conditions for the aspiration for sustainability is an element that sometimes we give for granted and other times we don't pay enough attention, which is good governance. It's a basic element in good governance. I'm not just talking in terms of efficiencies, being efficient from the central government is having a strong respect to the rule of law in the independent courts, the ease of doing business and a free press, private property, I mean all those elements which are essential for any modern democracy. Those two elements, the heavily investment in people and in good governance has gave us the opportunity to really understand that the future relies on the balance within the good management of our natural capital with the human capital. And this is what Costa Rica has been doing for the last, I would say 20, 30 years, where today we're 100% renewable in the electric sector and there is no deforestation, we've been able to double the size of our force in the same period that we were able to triple the size of our economy or triple income per capita, proving to us that using our natural capital, protecting nature, restoring nature is not a burden to growth and development and on the contrary. So when we see these challenges that we have in front of us particularly what the new nature economy series reports tell us, we feel quite comfortable with the outcomes and the findings because in a sense Costa Rica has been doing a little bit of that. Minister, thank you for that and thank you for that example. I want to turn to Red Miller Suleimanova from Al Jazeera if we can get Red Miller's question. Hi there, thank you so much for having me. So the Trump administration has argued that regulations designed to protect health and the environment, stifle economic growth and job creation. What do you say to that especially at a time when 30 million Americans are collecting unemployment benefits? Sorry, can you just repeat the question, regulation is? Stifling economic growth and job creation. What do you say to that especially at a time when 30 million Americans are collecting unemployment benefits and I guess this could be replicated in other places around the world where in such a tough economic time. So if there are critics of saying that, yeah, that's my question. How do we move towards the green economy if they're kind of holding on to the only jobs that may be available in their communities and cities? Thanks for that. Akanksha, this is a question that comes up time and again. When we're talking about new jobs in this report and we're talking about opportunities, are these opportunities going to be opportunities at the expense of existing jobs? In other words, are they going to make people nervous about the transition? So yeah, that's that's a really good question. And exactly like Adrian said, one that comes up all the time. And I'm going to pick up something that Adrian said yesterday is nobody actually likes to be a statistic. So yes, while it is all very good that this report is indeed talking about three 95 million jobs, which will be created by 2030. We have to remember the sensitivity of these three 95 million being individual people. So with that, it's important that any transition that we do has to be done in a way that is people and planet compatible. So it cannot be one versus the other. And again, just picking up on the Costa Rican example, the reason they were able to push that forward is because they invested in the human capital. So I would argue that it's not just about good regulation versus bad regulation. It is really about how are we equipping the country and its workforce to be ready for the future? So that's really at the macro level. In terms of specific policies or numbers, one could argue that some of these jobs are not jobs for future. I think if anything that COVID has shown us is much of our systems as well as the social welfare system where it exists or other livelihoods where it exists, they just haven't been resilient. So while moving towards a nature positive economy, the jobs that we are creating when people are rightly skilled for them will be more resilient jobs for the future. Yeah, and if I can just quickly maybe bring in David Perry here from Memphis and ask David, are we right to be concerned about the flip side of this opportunity, which is to say, we might be talking about 400 million new jobs, but are those jobs going to come at the expense of existing employment or is this an opportunity really to build new expertise and new areas of growth for people and employment? Well, thank you for the question and thank you for thanks to the weft for putting together this report. You know, I think the answer is both, of course, you know, as much as we would like for this to be an easy and smooth transition, inevitably, as we wind down certain industries where they contract and we create or expand other industries, that transition is difficult, like change is just always hard. It doesn't know it's about people and people changing jobs and learning their skills is difficult, but it's still necessary and we have a much better outcome on the other side, you know, to use a common example, there are going to be fewer coal miners in the future than there are today. Making that transition from coal mining to whatever the green job is will be difficult for that individual, but the result is a much more sustainable job, you know, one that one that's supporting the economy in the long term, as opposed to one that's inevitably going to stream. So I don't think we should think that any of this is going to be easy, but I do think the opportunities, you know, in the transition and on the other side of the transition, you know, we'll make it wonder, we'll make us wonder in retrospect why it took us so long, like there's a much better outcome on the other side of this. We just have to, you know, we just have to make it happen. Can I turn to Daniella Cureti from Valor in Brazil? Daniella. Hello. Can we can hear you? Yeah, thanks for doing that and thanks for inviting me. I'm interested in more in agriculture and soil. So my question is, is it possible to use natural-based solutions in large-scale agriculture, like the Brazilian one? Although you don't see this option very clear. And my second point is, are there examples where degraded areas can be regenerated by natural-based solutions because we have a lot here? OK, I'm going to turn that over quickly to Sven Torre, because I think that's your domain of expertise, particularly. Well, thank you very much for that question. And yeah, absolutely, we should think about soil as an asset, and we need to treat it accordingly and also reward farmers for farming in an effective and efficient way. And it is possible to grow enough food on existing farmland that actually can reduce it significantly and turn it back into nature. And indeed, you can create different income streams for farmers. You can even, through regenerative farming practices, also use the farmland to use the soil to sequester carbon. And through that, creating business opportunities for the farmers. Today, they're paid for crops. What if they, in the future, get paid for a crop? They get paid for sequestering carbon and also to freeing up land and turning it back into nature? So absolutely tremendous opportunities in this space. Thanks, Adrian. This is Carlos Moner. Can I jump just for a second, because this is a key important question. I want to make a just a small call. Carlos, please come in. Yeah. What Sveintor is telling is totally accurate and correct. And I want to compliment to him. We will never, ever achieve a good balance within the conservation of the biodiversity and the productive sector in the same landscape if we are not able to overcome the political conflict within ministers of environment and ministers of agriculture. But normally, they don't share the same data. They don't share the same information. And they tend to believe that they are opposite parties within the management of the landscape. Being able to come together at the government level with an institutional framework that looks in a holistic manner to the landscape is the way forward. We need to break the silos within the vision of the minister of agriculture, the vision of the minister of environment. Because normally, they don't get along together quite well. That's a great practical example. Thanks so much for bringing that up. And perhaps also we can hear from Elizabeth Maruma Marama in Canada on that issue of relating to biodiversity. Elizabeth. Thank you. Thank you very much. And many thanks first to the World Economic Forum for producing yet this another report which clearly demonstrates that when we deal with biodiversity and nature, it's not only an issue of the environmental community, but also the business need to be on board for us to make any difference. As we all know, our member states are currently negotiating or looking at crafting and adapting a new framework on global biodiversity framework, which will chart the pathway towards 2050 vision of living in harmony with nature. This will be an opportunity to further develop and strengthen our institutional, legislative, regulatory frameworks to guide the transformation we need to safeguard the health of our planet and thus in future. And of course, this report is coming at the right moment to indicate that yes, although the framework is negotiated by governments, but of course the implementation and even the contribution from the economics sector, from the business sector to make the business case will equally be important. Otherwise the framework will not be effectively implemented when it's adopted. So we really appreciate this rethinking of the way now we do business, the proposals for innovative approaches to tackle nature crisis, getting the business on board, particularly when it comes, we are looking at food systems, infrastructure, energy, in the mentioned extractives and the report has identified the business opportunities, $10 trillion are there, million jobs to be created. So I think these are all incentives to really encourage the business to invest in nature, not invest in nature in the new ways and not the nature invest in nature of yesterday. We're all moving into a new normal, not the old normal and hope together with the business to be able to build a better future. Thank you very much. We've got quite a few questions to move through. So I'm gonna see if we can take a couple together. We've got Jennifer Schenker from the Innovator and Timothy Cunningham from CGTN in the UK. So perhaps we can get both their questions. Jennifer and then Tim. Okay, thank you, Adrian. So clearly the report shows that there's a business imperative for business to move to more sustainable solutions. Startups, including a number of the World Economic Forum's technology pioneers have the innovative technologies to help us get there, but they don't have the scale. The large companies now have the incentive to move to more sustainable practices, but they don't necessarily have the technology or the skills. It would make sense for the two sides to work together, but they have a lot of difficulty to find the right way, the right structure to collaborate. How can the forum and governments help highlight best practices and bring those two sides together? Thanks for that question. And Tim Cunningham, if I can just turn to you in the UK. Yeah, that's what I wanted to do. Well, thank you. What I wanted to ask was whether a nature-positive economic approach really works equally well, whatever the existing size and makeup of a country's economy. I'm assuming that the 2.7 trillion going in and the 10 trillion coming out, it's not going to be spread equally around the world. And I'd like to hear a little bit more detail, perhaps, on how that might work. Great, thanks for that. Akeksha, can I turn first to you and just answering that question on startups and how we can help them scale to solve some of these problems? Absolutely. I think one of the big pieces which is perhaps underrepresented and underinvested is indeed, as you said, technology-related solutions. And they just haven't been able to reach the scale which is needed. The World Economic Forum through its different communities, primarily of course the Champions for Nature community of which you see quite a few members joining us today, will be looking at the topic of technology as it cuts across all the work that we do in nature. The second is it's not just only about technology but business in general. What we need to be able to do is encourage policymakers and give them the confidence that they can raise the bar when it comes to nature-positive economies. So I think Elizabeth Marema earlier said that 190-plus parties are actually debating on and deliberating on what should be the post-2020 global biodiversity framework. And at the anchor of it, we have to create the structure that technology, businesses, and innovation come together in a way that they can scale for a nature-positive pathway. So there's no simple solution for any of it. The forum stands ready to support but it also has to be embedded in frameworks which are intergovernmental and find a long-lasting space in the way we do decisions. The second question that you were raising is absolutely right in terms of how the job opportunities have been identified. Along with the report, we've also released a short methodology document that we'd be very happy to circulate with all of you. But the way we have looked at the, so it was a hierarchy of looking at the business opportunities, then those business opportunities were looked at in different regions and different countries and it's in those countries that we started to look at what does it mean for every dollar spent in a particular industry? How many jobs would that investment create? So absolutely that it's not going to be equal but the fact is that the global GDP spread is also not equal and neither is the population spread. So it is more in parity with the real facts rather than a standard of like cut it across with all 190 plus countries. Thanks, Akshay. I wanna just bring in two more questions. One from Tetsuji Aida from Kyoto News in Japan and another from NHK's correspondent Unichiro Nishihwaki. First to Tetsuji Aida. Okay, thank you so much for your time. I know that we are discussing quite a long time about investment for the nature or huge profit from ecosystem services or nature, natural capital, quite a long time. And unfortunately I cannot find a systemic change or transformative change of policies in many countries. I know that Costa Rica is great example. So my question is how can we make transformative change or systemic change of policies for political decision making system to put nature in center? In short, my question is who can be a game changer of policies? Thanks for that question, Tetsuji. Unichiro Nishihwaki, can I just turn to you as well? Yes, thank you very much. Well, my question is that in order to accomplish the nature first, I think the global globalization and share values are really important but the current situation with the pandemic and the geopolitical consequences that it seems that the situation is really hinders such collaboration. How can we overcome this problem? Okay, thanks for that. Ingram Anderson, perhaps I can turn to you first with that question really on how we encourage other government leaders and policymakers beyond those who are doing the right thing like our friends in Costa Rica that we've seen. What are the mechanisms that we can use perhaps to get people on the right track? Okay, I think first of all, we have to understand that there are some prevailing incentives that is pulling in one way. And so it's up to exactly as Minister Rodriguez said, it's up to the broader setting of society to pull in the right in the other direction. And that includes a free media, that includes a well-educated electorate who votes and take that vote into the voting booth. That includes enlightened, intergenerational thinking politicians who understand that. And of course, the business community as well as incentives and regulatory policies. Now, some countries are beginning to realize that on the climate setting, I think we could say that we have put regulations in place in the last 10, 20, 30 years depending on which country you're in that drives renewables, that taxes pollution that makes our building with greater energy efficiency that ensures that emissions from agriculture is reduced. So we have already understood on the climate side that this is well worth regulating for why? Because the price of not doing it is way, way too high. And companies that are smart, investors that are smart, institutional investors and pension funds that are smart, that wants to see and not just the next quarter but they want that 18 year old entering the pension fund to find his or her pension when they turn 67, invest in these longer term returns. Now, the next thing is around nature. And so we need to understand and take that message away from COVID to understand that we are in the same spur the same time where we cannot push nature into its corner and expect that we are going to destroy another million species out of the 7.8 and we're going to continuously degrade the soils that we're going to pollute our waters, fish the oceans empty and not expect nature to and expect nature to be able to deliver its regulatory settings that it does. It regulates our weather, it regulates our currents, it regulates therefore our lives and our agriculture. So the green new deal in the EU so the kind of investments that you've seen in countries like Kenya, the kind of incentive packages and stimulus packages you saw in Pakistan where they pushed out a package of 50, 60 million job creation but as part was tree planting, right? So there you find these examples beyond Costa Rica where there is an understanding of investing in nature and COVID has been a spur for that. And I think at last point here, if I may take the hope from the people who are not just mobilising on climate and thanks for that, but who are also mobilising on extinction or on nature, on biodiversity and that is a very, very fine thing. So the opportunities there, we just need to get it done. Thanks, Vanga. We're drawing to our last five minutes of this briefing. I want to try and see if we can get some more people in. Briefly, can you just touch on an answer perhaps to Yinshiro's question from Paris? Yeah, I think just complimenting on what Inger had said as well. When we look at these opportunities, there are two ways to look at them. One is really market-based opportunities and that is looking at what are the savings and new businesses that will get created. So for example, if I think about ecotourism or if I think about alternative proteins, these are really opening up new markets. And the second one is, which was earlier talked about, which is more around non-market-based opportunities, which is if you look at nature-based solutions or natural climate solutions. So that is what you were talking about is the value that you gather from ecosystem services. What this report is trying to say is let's try to mainstream nature into business so that you're not only looking at what you capture through ecosystem services, but fundamentally altering your business and operating model so that nature is providing for a greater profitability, not just through its ecosystem services, but because it's an asset that you use as well as maintain for your long-term profitability. So I think that distinction is quite key. Thanks, Akansha. I wanna see if we can take two final questions. Laurie Goering from Reuters in the UK and Damien McElroy from the National in the UAE. Can we go to Laurie? Hopefully we can get Laurie up. No, we're struggling to make that connection to Reuters. Can we take Damien, your question? Yes, thank you. Follow-up slightly on what has been just talked about, but we are going to have a Green New Deal in Europe. There is a strong possibility of a similarly badged package in America, depending on the elections. For regions, other regions that don't have that similar programmatic response, how do you think this can fit into what they do and for regions like in the Middle East, can you take this forward from your plan to develop a similar level of impact? Thanks, Damien, and I can just see that we've got Laurie up on the line if we can just get her question as well. Hi, yes, I was wondering about basically where the money comes from for those 395 million jobs is a lot, especially at a time when we see economies around the world being really severely hit by this crisis and cutting jobs. How is it that we add those? Who pays for those jobs? How do they pay for themselves in this environment? Great question. Akanksha, it's easy to put together reports and put big ticket numbers on job creation. In the end, who is going to pay for these jobs and is this investment going to have a payback in a positive terms? So a really good question over there. So there are two ways to look at it. One, absolutely, somebody's got to pay for it and somebody has to finance the transition that needs to happen. All the stimulus packages that have been announced post COVID, if you just take the cumulative number, it is quite humbling as to how humanity is able to pull together resources at such a short notice. So the question that all of us need to ask through our respective networks as well as power of influence is how do we get that stimulus program and that stimulus package to be nature positive? So it's not about an incremental choice of money, but it's really what we are spending. Are we spending it in a way that does less harm and more good? The second is indeed that in the next coming years, public capital is going to be limited. When we look at the private capital, what is the risk appetite for the private capital to also go into investment vehicles, businesses which are actually both carbon neutral and nature positive? And I just want to give an example if you see some of the ESG related investments and the bonds that have been made, they've actually proven to be more resilient and profitable in this crisis than a plain vanilla bond structure. So if you read the policy companion piece, it talks about how governments should be looking at their stimulus packages so that we do not create the problem that got us into this situation in the first place. And the second one is if you read the chapter which really talks about investment that brings the business's side together. And lastly, as part of the new nature economy report series, since this is the second report, we are working on a third report which will come out in fall of this year which is entitled exactly that financing for the new nature economy. So that will allow us to go a little deeper into what are the vehicles which are needed? How can we look at both mainstream investment vehicle but also new investment criteria to increase the money flow in the thing that we need the most, which is our planet? Akanksha, thank you very much. We're just over time on this briefing. Thanks to everyone who put a question, our apologies if you didn't get a question in. We've tried to take as many as we could. Great, thanks to our panellists, Sven Torej Hulseta, Hindu Ibrahim, Inga Anderson, Elizabeth Maruma, Marama, David Perry and to Minister Rodriguez. And also a big thank you to President Cassada for initiating this briefing from Geneva and the World Economic Forum. If you would like to find out more about this report, you can go to our website. Weforum.org and find out more there. Thanks for joining us. Hope to see you at the next briefing. Thank you.