 Hello, everyone. I'm Justin Warland. I'm a correspondent at Time magazine. Thank you so much for joining us today for this iteration of the race to zero dialogues. We have a very exciting program today. And we're focusing on ocean sustainability and technology, specifically looking to answer the question of how oceans potential can be harnessed to help tackle climate change. I just want to note that this session is being live streamed and recorded. And before we, oh, and also we have a we were going to start with some opening remarks and then we're going to go into a panel discussion that I will moderate but we also have the ability it's interactive session so we'd love for anyone to contribute their questions you can do that on slido.com the information as you can see is on the screen here and the event code is hashtag race to zero. So again, this is for the moderated panel that follows the opening remarks, please do contribute your questions. And so with that I want to just start off with our opening remarks and we have to start Stan Roland, who is the chairman and chief executive officer of the blue climate initiative. Thank you, Stan. Thank you, Justin. My name is Stan Roland, and I'm the CEO and the blue climate initiative and chairman and president of Teddy our society, which is an environmental nonprofit operating in the island of Teddy right and French Polynesia and blue climate initiative is a global effort to protect the ocean and to reasonably and responsibly use the incredible power of the ocean to address some of the most important environmental challenges and ultimately social challenges of our time. So today I want to set the stage for the discussion that follows. But first, I just can't resist saying how absolutely thrilled and delighted I am that we now have removed one of the biggest roadblocks we have in the race to zero, which is the Trump administration. This historic change brought by the US election clears the road ahead of us and with a Biden and Harris administration coming on board. The opportunities are absolutely tremendous and so this is this is now really up just to make it happen. So many opportunities for success in the battle against climate change, and one opportunity we believe deserves more attention is ocean based solutions. The ocean provides an enormous opportunity to help turn the tide on climate change, whether directly through carbon capture and sequestration are more directly through programs such as harvesting its potential as a source of renewable energy or lower food. And a lot can be accomplished simply by protecting the oceans, restoring the oceans can help restore planetary health and our own health and well being. So what are we at the Blue Climate Initiative doing in this regard. First of all, we're doing cutting edge research and private investment to advance innovative ocean solutions. We want to try to do is use new technologies and scientific understanding, plus traditional knowledge to work alongside the oceans own absolutely miraculous natural systems to harvest the oceans potential to tackle climate change. So how are we doing this, we brought together from around the world some of the best minds and ocean issues to work collaboratively to identify and develop the most promising ocean based transformation opportunities to combat climate change. We've met in six working groups addressing the issue from six different angles, renewable energy and marine transportation, nature based solutions, food and energy, human health and well being mineral and genetic resources and sustainable tourism. But now how this will go about determining what are the most promising transfer, transformation opportunities. We think it starts with asking a very broad question that provides freedom to be bold and ambitious, which is really what we need right now. The phone long question asked of each of our working groups was, what would you do with a billion dollars and broad support to mitigate climate change and the target issue of your working group. Approaching climate change from this perspective allows one to think outside the box. For example, when asked different context to the marine biologist Doug McCauley was asked the question of what he would do with a million dollars to address climate change. Rather than coming up with a more expected marine biology based answer. He said that he would invest in energy storage. I'm knowing there's not for the answer but even I think it's important, rather to illustrate the value of stepping back and think about the issue from a big picture impact focused way. This approach also provides freedom to think about different types of solutions. So for example, one of the ideas coming out of our nature based solutions working group is to designate in the world's entire high seas as a marine protected area with specific use exceptions to be made on a case by case basis. Again, my point is not the concept of the south and rather illustrate the value of us all stepping back and thinking boldly, which in this case resulted in a suggested paradigm shift. So our working groups have now completed their transformation opportunities papers and we've published them in the next couple of months. But the blue combination is not leaving the process there. Ideas are of course useless without without action. So in this next phase we're moving into, we're bringing together a broad coalition of scientists entrepreneurs business people investors community leaders policymakers and influencers just to implementing and acting upon the ideas developed in the first phase initiative through the transformation opportunities papers. Another strategy where implementing is using incentive prices and community wars to generate ideas and accelerate action. In fact, I'd like to announce today that in January will be launching an innovation challenge focused on ocean based climate solutions with a minimum of $500,000 in prize money. So working together will be absolutely critical in the face of the existential threats we're facing. And I hope we all use this moment, the lines with this historic shift in the US administration to pull our resources and work collaboratively as a single single planet in the race to zero. So with that, I'm going to turn it over to Catherine Palmer. Thank you very much. Thank you very much. Thank you for this opportunity to give some opening remarks to the session. My name is Catherine Palmer. I am the global head of sustainability for Lloyd's Register Marine and offshore business. So the words I would like to share with you today are predominantly focusing on the global shipping sector and how it is essential for a sustainable future as it meets both the demands of its customers and society. But as one of the many ocean users competing for space and resources, it needs to ensure itself that it is sustainable. So our oceans remain healthy and productive. The key challenge that the industry is facing at the moment is exactly the same as other sectors and countries and society as a whole. And that is how does it decarbonize. And there's no doubt that the decarbonization challenge for the maritime sector is going to be disruptive. It's going to be transformational and it's going to affect all players across the maritime ecosystem. The evolution of both the energy system and the shipping system that is needed alongside the associated time scales of development, investment and asset lifespan means that there are steps that need to be initiated now and work that needs to be commenced and carried out in this decade So that zero carbon energy can play a key role from 2030 onwards in order to be able to deliver a goal of net zero by 2050. The pace of this transition really relies on three key factors and the interaction between them that is technology, investment and community readiness. This means from a technology perspective, the advances needed in ships themselves is that they get their energy from zero carbon sources. And that also there is the development of the infrastructure to deliver this energy at the volume that is needed and in the right locations. And so therefore all actors need to join this global effort, ranging from the energy providers, the finances and the customers alongside support from governments to ensure that we have a fundamental shift in policy and market incentives to increase the uptake of zero carbon energy. There's no doubt that decarbonizing shipping will come at a price. It has been estimated that an additional $6 trillion over the next 50 years to achieve the IMO goals is needed. And that includes both from the ship side and from the land side, including production storage and distribution. And so when we see from a vessel perspective that the technology does exist today and we can build those ships. This is more of an OPEX challenge for the ship owner than it is for a CAPEX challenge. Because we know that to start with zero carbon fuels are going to be more expensive than existing fossil based fuels that the shipping system is built around today. So although clarity is needed on fuel price and availability, as it's these primary concerns that are preventing any owners and charters from ordering vessels today. We know that we need incentives in order to reduce the cost of technology and to build that business case. And so we see that this is very much a landslide challenge. Shipping can be used as a catalyst for the wider energy transition in unlocking the market for zero carbon fuels because of the sheer size of the scale of the challenge for the sector. And so there is a need to have confidence to act and in order to invest to accelerate this shift and in order to do that we need to come together. Not only to create a deeper understanding, but also to innovate and do pilots and prototypes and demonstrate the art of the possible in terms of safety sustainability and economic costs. And we know that innovation is already taking place. A lot of this is self funded by ambitious business leaders, but also supported by governments. This innovation is taking place across the world from Europe to Asia, and is very much focused on these challenges of ship technology ship design and producing fuels. And it's this coming together of like minded leaders that is really gathering momentum at the moment. At the end of October Lois register itself announced the partnership to accelerate the safe and sustainable transition to zero carbon shipping. And we will be working in partnership across the value chain for the benefit of delivering safe and sustainable future for society. Another initiative, which was launched just over a year ago was the getting to zero coalition, which in its life of one year has really grown to unite more than 100 public and private sector stakeholders. This is a leading example of one of the many initiatives that have been launched to address this challenge as everybody in the maritime ecosystem wants to engage and be part of finding the solutions. And so what we have shown as the shipping industry is that ambitious business action can create our own future. And as we now enter this decade of action to deliver our vision of commercially viable zero shipping by 2030. This is the time for collective action and collaboration, and it's a really exciting sector to be part of, and this race to zero. Thank you. Thank you, both Catherine and stand this, I think very, very, there's a great job of setting the stage for our panel, which we are going to jump into just now. I want to again remind people that they can ask questions on the slider when we get to that portion. But for now I'm going to introduce the panel. We have Richard Bailey, who is the chairman and CEO of the Pacific Beach Comber and President of the Brando resort. I am the head of innovation policies for space and oceans unit at OECD, and Marla Sena Mina, who, excuse me Marcelo Mina, who is directors of the center of the action climatic at Pontifica University at Cortaleca de Valpariso. And I apologize to Joe Tika, if I said it wrong, I think that's right Joe Tika, but please correct me if I'm wrong. My sincere apologies. I didn't want to start with you, actually, and just to throw out the first question. You know, oceans are often thought of as the last frontier you work a lot, I should say the last frontier on Earth, you work a lot on, you know, thinking about technology and that we need innovation that we need to better understand oceans. I just I wonder if you could just give us a sense of what you think we need to see to to both better understand oceans broadly but to better understand oceans in a way that can help us fight climate change. Thank you Justin. And good morning to everyone from LA. I actually just want to take a quick moment to acknowledge that I'm sitting at home on the tribal land of the Chumash tribe of Southern California. That's a really good question. I'm going to say Justin, don't worry, my name is Joe Tika, I've heard all sorts of variations on their name so thank you for that. Don't worry. That's a really good question. So I think a lot of people don't fully realize how vast the ocean is the scale of the magnitude we're looking at it covers about 99% of the living space on this planet. That's such a massive feature for the climate system. And so part of the huge push in innovation that we really need to really understand it most of it's not understood yet even is unmanned on crude and autonomous technology so that we can scale up and get a better understanding of what's going on out there with respect to, for example, climate. It was only five years ago when we got pH sensors to measure ocean acidification to make lab quality measurements that were the same as if you brought water back into the lab and analyzed it. Bringing water back to the lab of course this ship is very expensive it takes ships, having sensors that can do this now automatically that you can leave it in the water for a period of time really changes how we monitor for ocean acidification changes in the ocean. Most of which has not yet been. We really have no clue about at the moment. So that's just one example but that's what we're really heading towards is being able to make these sensors and these technologies operate for us and gather the critical data we need to monitor and see what's going on out there. Okay, well I wanted to ask, well first I should just say please do if anyone on the panel wants to jump in please feel free to but I'm going to go to Claire next and I just wanted to ask a bit about some of the sort of innovations that might be helpful. Not necessarily from a sort of, you know, underwater perspective or you know on the ocean perspective but innovations in and financing innovations and the way that we can think of policy solutions to help with oceans and what are some of the things that you're thinking about there. So, so thank you very much for the question. And obviously, as we heard from the previous speakers, I think at the core of the two big challenges that we face today, namely climate change and the loss of biodiversity, the ocean plays really a key role in helping us find solutions. Not only do we need ocean observations and we just had heard that also from a previous speaker observations of many kind to improve our collective knowledge and contributing to fundamental science, but the ocean itself has become the siege of many environment friendly innovations in terms of communications transport food security energy. So, maybe in terms of some of the innovations that may not be technical here technological, but we published just a year ago little less than a year ago, a report we see the report called rethinking innovation for a sustainable ocean economy. And there we found that successful innovation into the ocean requires often really fresh thinking in the organization and the structure of the research process itself. So, we studied at the OECD the emergence of new forms of collaboration in the ocean economy, often supported by governments. And that link, the research communities, public sector, the economic world, the private sector stakeholders. And we use the example of innovation networks that are really sprung up in recent years around the world, dedicated to the ocean. So it's very, I have to say it's really new. We found several dozens and looked already at 10 in particular conducting surveys and workshop. So they are often hosted by research institute or innovation centers, or they emerge from an existing industry cluster with a bit of public support very often. So they connect very different actors, they work on a range of innovations typically marine robotics, autonomous vehicles, aquaculture, marine renewable energies, biotechnologies, and their benefits include improved cross sector synergies and I'm sure we come back to that at some point. Access to research facilities that's inside. So one very important factor here that I would like to stress is the development of the new science industry linkages in these networks. And that's pretty new in the ocean space I have to say. And this is going to be crucial as we head into the United Nations, a decade of ocean science for sustainable development. Both science and industry will need each other even more. And this can work just for maybe people are not really aware that over a half in over half of OECD countries, more than 50% of researchers are actually employed in business enterprises. So these new ways of cooperating in the ocean space are encouraged in part by increased digitalization. This allows more actors to know about each other, and then to work together. We see co-creation models, where the knowledge is jointly developed through shared facilities, mixed teams. We see also new open innovation models, meaning not everything is in a black box. New ways to balance commercial intellectual property and research imperatives. So we see this in Europe, in part of Asia and in the US. We will actually have next week a workshop on this new ocean economy networks in North America with a large participation from Canadian and American stakeholders. This is co-organized with the Canadian Ocean Supercluster. So in order to conclude here, maybe just on this particular point, again with some public support, we are seeing new networks being born. And I think that they really respond to some of the challenges that we are talking about here. So great. I mean, I think, oh, sorry, please finish. I didn't want to. Well, there's a lot of threads I think that can, that are worth, you know, pulling out of there. And I think, I mean, it sort of segues nicely into my next question, which was for Richard, you talked about science and industry working together. And I know that this has been something that, you know, Richard, you are working on on the ground. So I wonder if you might just, you know, introduce us to what you do, what your business is, and then talk a bit about those linkages, you know, in your business. Very happy to do that. And yes, I'm very happy to be on the call and to join all of you. Thank you very much. My name is Richard Bailey. I, my business is hospitality. I build an operate resort hotel. And actually, we have one specific innovation. We've won the race to zero. And it's a pretty nice place to be. We've pioneered a technology that we call seawater air conditioning where we use deep seawater, which is very cold. The air condition, one of our properties, the brand, though, on at all. And it's a completely carbon neutral self sustaining non possible renewable energy resort. And the two water conditioning is a very simple process. When we put a pipe down to about 1000 meters, we have an approximate deep ocean water very near the resort. And the water is about four and a half degrees. And we use that to a thermal exchanger to transmit the cold into a fresh water loop. And we are conditioned our entire property and this reduces our energy requirement by about two thirds. And the balance of our energy is easily accomplished with a solar and a small amount of thermal energy using coconut oil, which is a proper measurement biofuel. So it's a scalable process. It can be done pretty much anywhere in the world technological constraints to have approximate deep seawater. The financial constraints would be to have a high cost of alternative electricity in order to bring the return on investment horizon into a reasonable. A reasonable scale. And a year round need for a cooling. Again, a financial constraint so anywhere in the tropics with approximate DT water and most island communities have high costs of energy to begin with. So this is a process that I could be used in many different places. We're, I believe we're the world pioneers for this process. We didn't have any examples to go on, but we sort of cobbled the various components together ourselves. It's not, it's not technologically difficult. It does require some investment, but it's profitable to us. It's a lowest cost per kilowatt hour of energy that we have. And I would add, as a resource, being deep seawater, deep seawater is more charged with carbon dioxide and surface water. And we're tracking a lot of data from the scientific community because we can use this deep seawater to simulate service conditions in 25, 50, 75 years. And we know that the pH factors gradually defining the oceans to do a certification from absorbing all of the carbon dioxide resulting from climate change. And this certification can have dramatic impacts on small ocean creatures, exoskeletal, calciferous plants and small shrimps and whatnot. And these are critical elements of the food chain. So using this deep seawater resource can also inform us as to where exactly that threshold of danger occurs in vanishing layers of the ocean. So we're just one small resort on one small island in the Pacific, but what we've done is the innovation that we've accomplished has been motivated by the symbiotic tourism that we're trying to achieve whereby reducing our energy footprint. And our guests are attracted, and the more guests we have, the more we can afford to reduce our energy footprint. So that's basically it. Well, looking at my video. Yeah, I think they turned off the video to improve the sound quality and it definitely did improve. So I know I'm also dealing with a poor connection. I may lose my video at some point, but for now we're good. But thank you for those remarks. That is, there's a lot of threads to pull there as well. I want to turn to you next and just to ask just about Chile and about the way in which oceans have been incorporated into thinking about emissions reductions and how that's worked on the ground in Chile. Great. Thanks, Justin. So it's incredible that for many decades we had ignored our oceans and the role it had on conservation on carbon capture on resilience, but also as an opportunity to shift our productive identity from one that is extractive in nature to one that generates renewable fuels as we require for the world to reach net zero. And just to start off, first off, we started trying to understand what was going on and justifying some things. And we had in a way, a vision that this could be beneficial. Around 65% of fisheries in Chile are overexploited. You've heard about the Chilean sea bass, the orange trophy. These have really reduced their availability substantially and we needed to conserve. And we went from protecting 4% of our oceans to 43% when I was in government with President Bachelet as Minister. And this really changed the identity of protecting because this really led the charge for new efforts which have this cop 25 be the blue cop in a way. But with time science has shown us that we were in the right way in the right path. There's Professor Anthony Waldron from from from University of Cambridge, Cambridge University has shown that conserving around 30% of the world, both oceans and land increases forest grease, the GDP out of forestry increases agricultural yield and of course it also increases fishing because when you provide the space for fish to reproduce, you get all the overflow and you're able to recover species. This is about not killing the golden goose, the golden egg goose, but letting it give you the eggs at the time that it can, which is really good. But since we also wanted to show that we needed to protect the ocean beyond that as people, we started establishing the plastic bag band that you know so you can have any plastic bags in Chile today. This is something that we hope other countries replicate some have started and we started with a new introduction of with the new Minister of single use plastics being banned, which is also very important because however net zero emissions we are going to be. There's still going to be that plastic straw that we use back in the day, 50 years from now, even within a zero world so we need to clean up that plastic. But going from that, the important thing that we need to consider is what carbon capture could occur. And recently the World Bank put out a report shows that our fjords are macro algal forests are able to capture around 10% of our national emissions which is good. We need to preserve them and keep the ecosystems resilient to natural disasters, you know they dissipate energy from a tsunami, healthy coastal ecosystems are able to recover faster which is also good. But then we started looking at this new opportunity you guys have heard about the renewable energy investments in Chile have been very big. And as we see for the future, we start noticing that our copper demand will rise substantially, because it's part of all the wiring of the panels of the turbines of the electric cars lithium is also going to rise in demand, but has to be clean. And so therefore our copper which is around three kilograms of CO2 per kilogram of copper need to clean up around two thirds of that is electricity and renewable energy contracts have been signed by all the copper mines and they're going to get to net zero right away with the the scope to energy. But scope one the mining trucks need to clean up and that's where a green hydrogen comes in. And this allows us to also expand green hydrogen to be available for the maritime sector for aviation sector. And so therefore, you know we put out a strategy last week with the Minister of Joe V. I was part of the committee, and which set out really huge numbers. I'll just give you a few going to explore around $32 billion in green hydrogen is around 10% of Chile's GDP, it will potentially replace mining, mining will subside mining will disappear. So our finite elements, hydrogen is not. So this allows us to ship from an extractive based economy to a renewable economy, $330 million and accumulated investments. That's huge also. And this is part of what our net zero strategy considers, because we have committed to net zero by 2050. And we know that this will create more growth, more job creation, as a study that the World Bank Commission for that really showed recently showed. So this is really good as so going from turning our back on the ocean and turning it into the opportunity for long term growth and prosperity for our country. Great. Well, thank you I want to follow up with what with a question and then I hope others will chime in as well. But you know obviously Chile, along with many other countries has about a non conditional and a conditional commitment regarding its, its emissions. A lot of the conditional commitment is to contingent upon support from other countries and I just wonder if you could talk a bit about the mechanisms the, the partnerships that allow could will allow Chile to meet those conditional targets and you know particularly with regard to oceans but broadly as well. I think that online, it's just a struggle that we have as a country whether we are developed or we're on the way to being developed. I think it's really that we have to consider, but I would say I would. That's the stuff that the Minister of Finance put forces you to put in your commitments. It's not really true. You know, we have around $10 billion and investments going on today at this moment being on, you know, on renewable energy. You know, the ECF, none of that is Jeff, none of that is climate finance per se. It's our for profit market design that makes renewable energy just work. And that's why Trump despite all his efforts to go down with the, you know, with coal, there's no new coal, and there's 20% increase in investment. So it's just a matter of gravity. The market is spoken. These other technologies are obsolete, and we need to spend the money that we can. And when we need additional funding, we could go to a green bond that allows us to have the lowest interest rates that we have ever achieved since the recovery of democracy. So there's many things that we could do and developing countries can also do. And that's what we have to do just be smart about the way you design and not really have a subsidized heavy system, but one that really allows the markets to work. But that starts with recognizing the price of pollution. If we ignore the price of pollution. None of this thing will actually happen. Great. Claire, do you have, do you have any thoughts or is there anything you'd like to add just about policy and support in that regard, not necessarily Chile, but with countries more broadly. Absolutely. And indeed Chile is a member of the OECD and has been very active in all the committees of the OECD. So, so that's why discussion between developed and developing countries is still very much to be discussed. I would say here because Chile has been really leading quite a number of innovations actually, even in the ocean space. So maybe what I could say in terms of some of the support. So I would just say I note that I sidestep that debate by just referencing the NDC rather than trying to get into the debate. Sorry, please continue. I'm sorry. That's fine. But but in terms of the policy instruments that are in place. I mean we have a whole catalog that we that we just published again. We have a recent OECD report on sustainable ocean for all. Whereas here you have a list of policy instruments that exist, and they range from economic instruments to regulatory instruments, typically tax but also helpful subsidies. We always have to be very careful with subsidies. Quite a number of levers that government have in order to support innovation and to support innovative sectors. They already are well known in different domains like agriculture. Now they need to be really adapted and used in the ocean space. But there may be one little thing about this question of innovation and ocean. Very often, where we will need the most innovations and I think our colleague from Chile mentioned it and our colleague here are from the Pacific Island already at also a very good example. We need a lot of innovations at the ocean land nexus, basically coastal zones. In order to reduce pollutions from plastics, we need to actually invest quite a lot in treatment system pollution treatment systems. And that's true for many developing countries. That's where we need to invest a lot and that will preserve the ocean and climate down the road. So a lot of the innovations that we think about are often really land based and will benefit the ocean. And there too, you have a list of instruments that exist where you can encourage as a country, as a government, that or that innovations. Great. Well, yes, please. Can I add something? I agree that very much the innovations are needed in that ocean land intersection because that's where we all are, that's where we're polluting from. But I do think that we have to be careful on what those innovations are. So they're not just single minded solving one problem. And then in 10 years or 50 years, we find that it's actually caused a different problem. And that's where we ran into an issue with plastics. So when plastics first came about 60 70 years ago, it was, you know, the solve all the be all the amazing new thing. And it's fine removing plastics, but then you have to take the whole cycle into consideration so heavy and material or like biodegradable plastic for example, quite often requires very high temperatures so it makes no difference if it ends up in the ocean, unless it's sitting on an hydrothermal vent, it's still going to be plastic in the ocean. So really, look at the whole life cycle and all the impacts as we as we move forward with those innovations. What is the repercussion and impact on the environment from from multiple angles. Well, I wonder if you could, you know, offer ways there are good framework to think about those kinds of questions and is it a life cycle analysis or how does one begin to think about that. Yes, it is actually it's very much a life cycle analysis and it's part of what you know the first speaker this morning was saying was thinking outside the box. So remove something like what how much will it cost. And then you really start to drill down was you've got that out of your head of what the issues really are, but it is a life cycle analysis so for example, going back to the plastics world. There are companies that are switching to biodegradable lids for coffee cups, and then there's others who've switched back because they found that the common footprint of transporting the heavier weight material has actually is actually offsetting the benefit of having biodegradable plastics so it's really very much a life cycle issue and I think, you know, it's very complicated because we don't know everything about the oceans and what all the repercussions are going to be anyway but I have hope because every year we learn more and we're learning more at a faster pace because of innovation so it's said that in the next decade the UN decade of ocean science. The technology we have will give us something like 10,000 times more data and information than we've had in the entire human lifespan on the ocean so far so we will learn a lot very fast very quickly so I think it's building in that learning into the innovation process and I guess Clare maybe that touches on your science and industry cycle a bit there as well in making sure that everyone's well informed. Right, well I guess first I'd love to move to questions so please please continue to submit them on Slido if you haven't but I'll just ask, and here's the information about how you can do that again the hashtag is raised to zero. I'll just ask one more question for Richard, while we before we get into questions from the audience which is just maybe you could offer some perspective about how you think about, or have thought about these, you know, tradeoffs or questions when you're thinking about implementing on the ground at your resort, how do you think, could you consult, how do you look at these questions? Right, well we're guided first of all in my business by guest experience. So we're looking what it gets me to be comfortable and happy if we take care of our guests and everything else takes care of itself. Coming through innovation regarding energy and infrastructure. We're looking for solutions that are helpful to the environment but are also profitable. We believe that, as I think Marcelo mentioned, we believe in ideas that are capable of mobilizing cattle from the private sector without a lot of sharing because we believe that ultimately this is what would lead to massive change in the world. So innovations that are simply great technology that we invest in out of some deep conviction that this is the right thing to do is all well and good. But if the right thing to do is also the profitable thing to do, then the world really begins to change. So that's sort of how we think about that. Great. So going to turn to some questions from the audience. You know this panel was focused in large part on innovation but there's a good question I think that just points out that there are many solutions that exist already. So does the panel agree that the that the efforts might better focus towards implementing these rather than on innovations. And I guess, maybe we'll start with Marcelo and then maybe Claire or anyone feel free to jump in. Thank you. So I do think that, yeah, there's a lot of innovations that we know how to implement and we just need to scale them up. Also on the ocean plastics for example issue. I always have the clarity that, and I think we should have that clarity. There's some stuff we just got to get rid of, you know, single use plastics, you know, doesn't make any sense. Plastic bags I mean we were nobody misses them here in Chile it's around 2 billion plastic bags less that we don't consume a year. It's huge. A lot of stuff you used to see everywhere used to have you know almost 200 per person per year. So I've seen them everywhere. So thing is really it support help people support the fact that you don't want to contribute to more pollution and I and I bring this example. When I was traveling in Rwanda, Rwanda also has a plastic bag band. And, you know, and many developing countries you see a lot of trash everywhere. This is the first country in Africa I've seen that there's, I've seen virtually no trash in the streets. It comes from the fact that you have this culture that you do not want to contribute. So I do think that there are innovations, and we have recycling laws and you can do all sorts of cool stuff with technology and have you know, clothes made out of, you know, recycled recycled plastic bottles, etc. So if you don't have put an end to the bad stuff, we're just going to be lamenting. And the reality is today we have, you know, tons, billions of tons of plastic going into the ocean, and it's going to be way harder to reduce that than CO2 in the atmosphere. So the thing is, that's why I think we had to make efforts into having both sticks and carrots to have the solutions be implemented in a timely fashion. Great. Does somebody else want to jump in? Great. Yeah, I'd just like to say that I have eight resorts here in French Polynesia, and we've banned single use plastics throughout all of my resorts. Great. Great. Claire, it looked like you also. Maybe one little point. And Richard, I'm sure we all want to visit you at some point. Yeah, maybe on this concept. Please do, by the way, with COVID will all be better off if you can visit us. I can promise you that. I guess one of the key question about innovation is of course, do you really need it or not? In some cases, there's no other way. Typically, aquaculture has been around for thousands of years. Aquaculture has been around for thousands of years. However, now we're getting up to a scale of industrial aquaculture that we need to sort of try to master the problems. There are so many issues in terms of pollution coming from this intensive aquaculture in Asia, but also in different parts of Europe and South America. So at the end of the day, some of the innovations are a bit pushed on us and some incremental changes are needed just to make sure that we can indeed again master some of the large monsters that have been created. There's this quote from a French author called Saint-Exupéry, science without conscience is only a ruin of the soul. So the big challenge with innovation is that you need to actually control whatever you're trying to do and make sure that it's not putting a wrong impact, bad impacts on the environment at the end of the day. Oh, please. Yeah, I think whoever asked that question is right on target. I think innovation should be used for where it can help, but there are solutions that definitely already exist. So I think the use of the trees, for example, is amazing and doesn't, you know, it does its job exist for a purpose. Bags, you know, in the old days before plastics, there was no problem with using material bags instead of plastic bags as needed. So I think it's really not going for the shiny object just because it's a shiny object, but is it really practical and useful? So a good follow up in some respects to that is just how do we make sure that innovation doesn't exacerbate existing inequalities and ocean based economies? And I open that really to anyone who might want to take it. So I'm just going to jump in quickly. I think actually the intent is that innovation in some cases does help equalize in the sense that as we improve on older technologies, things are getting cheaper, they're getting easier to use, which then makes it more accessible to more people, including citizen scientists, right globally, but so there are now technologies out there that can be used. I'm going back to that ocean acidification sensors, for example, before you'd need to have a ship and go out to sea and it will be very expensive and you'd need to have a laboratory to do that. Now you can get a sensor and you can put it out and leave it there and gather the data in countries that previously have not had that opportunity. So since 2016 or so they've been deployed around across the Pacific, small island nations in the Indian Ocean where there was zero ocean acidification measurements before off the coast of Africa and even around Antarctica. So I think that's where innovation can really help to equalize the whole data gathering, at least. Absolutely. Does anyone else want to jump in? I have one other question but would love to hear others. Well, the other question is also in some ways a follow up to the discussion we were having just, you know, what's the role for regulation, particularly when it comes to oceans and maritime issues where, you know, the regulation is a little bit more difficult than on land in a particular country. So, Marcelo, you unmute it so maybe you start. Yeah, thank you. So first off, I think these global issues require globalism, which is a bad word in some places, but we do need to collaborate. We do need to work together on this. And one of the issues, and I know Max Beyo who's in the public does a lot of work in that, is that we need to collaborate against illegal fishing, for example. You know, a lot of the legal fishing fleets that come from Asia come into the Galapagos Islands, come into the Rio Hilo Islands and Mexico, come into Chile's islands. And we need to collaborate and we need to fight illegal fishing together. If we don't do that, if we don't have a mandatory way to regulate legal fishing, we're not going to be able to do this. We need to cover, you know, issues, the high seas, for example. High seas fishing is not profitable. It's highly subsidized. And we need to ban it altogether. You know, we need to have ecosystems be able to recover and if we don't work together on this, it's not going to happen either. So regulations are very important, but also international collaboration is fundamental in this. And one last thing is now we're starting to see oceans coming into the UNFCCC sphere. We're going to start recognizing the efforts that we can do to protect our oceans as a way to either mitigate or adapt to climate change. But we need better science to make better decisions on that. So that would be the basic vision on this. And it's great that now in the US we will have a player that will come back and collaborate with us into these big global goals that we need to achieve. Great. Yes, we have. I would add that. Sorry. I was going to say one, it will be a closing remark because we're just out of time, but I don't want to catch you off. So please go ahead. I was going to say that the oceans, the global oceans are a huge common area and regulation is absolutely necessary on a global scale, which is difficult. We have the Treaty of the Seas. It requires cooperation among nations to avoid the tragedy of the comments. The oceans are plundered. They're simply plundered and they're polluted, partly because the highly evolved apex predator species on the planet, humans, is a terrestrial creature, not an ocean creature. We don't understand the oceans. And so we don't care about them the way we should. And being a common, a huge common area, it really requires global cooperation and regulation. And without that, we're going to eventually be 10 or 12 billion people on the planet and it's going to be, it's going to cause irreversible damage if we don't get our act together. Well, that is a good note to end on. I want to thank all the panelists. I thought that was a very interesting and enlightening discussion. Thank you all for doing that, for taking the time. Next, we are going to move on to some inspirational remarks on innovation from Veronica de la Serra. She's CEO of Tri-Cyclos. I hope I got that right. But Veronica, thank you. Hi. Tri-Cyclos. Tri-Cyclos. Thank you very much. Thank you for inviting me here. I'm actually Veronica de la Serra. I'm the CEO of Tri-Cyclos. I'm thrilled and very honored to be here. It was a very interesting panel. And I'm here to share with you how we in Tri-Cyclos are contributing to the health of our oceans and this race to zero, right? We are in fact committed to achieving net zero emissions by 2030. We started more than a decade ago with a clear purpose, which is eliminate the generation of waste. And we've been doing so here from Chile, where I'm located, but also in many other countries in Latin America. We're considering that back then, right? There weren't any EPR or similar systems to control and manage recyclable waste here in Latin America. We started with a very focused approach on downstream, helping divert waste streams from landfills or nature, right? Towards a more sustainable end. We implemented pre-recycling stations located in commercial and public spaces where people could bring their own recyclable, separate them, and our team could send them directly to the recycling plants. We expanded throughout the entire country and also moved to Brazil, Colombia, Costa Rica, we're starting Mexico now, managing what ended up being the biggest recycling station network in Latin America. We have sent more than 40,000 metric tons of materials to recycling plants that otherwise could have ended up in the nature or in landfills. But the main purpose of these stations was to create a conversation with consumers, so helping them understand the impacts of their consumption habits while they're separated the materials, as well as learn how could they consume differently and consume better. We are a big corporation and so we have a lot of interest in having a social aspect on what we do. So these stations were also designed to be managed by former waste speakers, giving them a secure space to work, promoting the formality of their work, and highlighting the contribution that they can actually bring to society after decades of experience in the field. Through all these years we've encountered many difficult COVID-19 being one of those. We had to close all of our recycling stations to control the pandemic, so we were forced to innovate fast. We couldn't allow all those materials to end up in landfills on nature, so we accelerated the creation of a digital platform and app, which allow us to create a secure place in the station by controlling access and guaranteeing sanitary conditions. But this also presented an opportunity for digitizing the educational component of our stations by providing it through the same app. Now we have thousands of users, we are adding new features to this app, like our previously developed recyclability index for packaging and also giving consumers access to a circular marketplace, all designed to help them consume better. In recyclables we believe waste is a design error, and we talk about this. It's in the designing process where the biggest part of the solution relies on. So in parallel to all this recyclable waste management business, we started helping companies to design outwaste. We provide them with digital solutions to control and improve the recyclability of their packages, we measure the impact of their products along the entire value chain, like the ones mentioned before with the life cycle analysis, for example. And through innovation like processes we even help them question their own business models to make them more circular, helping move away maybe from recycling and stepping into all other layers of circularity. We are indeed moving ahead with one of them in a joint venture precisely dedicated to a refillable solution for home care products. And we're also helping delivery industry, very popular now right in COVID-19 in implementing a returnable packaging approach, starting from the food delivery in order to reduce the amount of waste generated through single use packaging. We also know that there are many other barriers in implementing circularity and they were mentioned here. This is not only about innovation, it's also about collaboration, it's about a systemic approach, collaboration through the entire value chains of products and also collaboration with the public sector. This really is unnecessarily in order to close the loop of all this different materials. As active participants and promoters of the New Plastics Economy Initiative from the LM MacArthur Foundation, right from the beginning, we managed to gather key stakeholders of the plastic value chain in Chile around NPEGs principles, well, Marcello was in office, which led to later the first plastic pack in Latin America. We're studying the same process as in Brazil, Colombia and hopefully now in Argentina. And many others are working very hard. But of course, this is not enough by collaborating as experts in the recent release study breaking the plastic wave from the Pew Charitable Trust and systemic that maybe you already read it. We learned that with the current commitments, we will only reduce 7% of the animal plastic flows to the ocean. We're definitely not solving this issue yet. We need much more action, right? We need ambition. But we not only need collaboration and ambition, we need meaningful innovation. We were talking about this in the panel. It's not just innovating in whatever, it has to be an out of the box socially conscious ideas from all parts of the world, and especially the southern part of it. We need to put the consumer or user in the center of the solutions. And only by doing so, we will be in the right track of solving this design error that is waste. Thank you very much. Thank you so much. Indeed, very inspirational remarks. We're now going. Can you guys hear me? Did you miss my introduction before I, before I, before I started? I couldn't hear anything. I think. Okay. I'm sorry. I apologize. My apologies. I just, just after Veronica finished her remarks, I, I introduced, introduced your shake. And I apologize if I got your name wrong, but you are the CEO and founder of Cubeks Global. And I just, and I don't know if this other, the rest of the introduction was missed, but these are going to be hearing from the uplink sprint prize winners who work at the nexus of ocean and climate, fitting with the theme of today. So my apologies again for dropping out. No worries. Hello everyone from the sunny city of Dubai in UAE. My name is Sheikh Esan Tariq and I'm the CEO and founder at Cubeks Global. We started Cubeks Global back in 2018. And it was at that point we were researching the maritime industry and we came across this problem firsthand that LCL shipments putting cargo on LCL shipments is very hassle some. And initially we started with building a blockchain based solution for organizing the documents in supply chain across the supply chain from start to finish. And we realized and we pivoted that there was a bigger problem in this industry since the era of containerization. And that was that 100 million shipping containers every year go up to 40% empty shipping empty year from one port to the other. And this is basically a $24 billion problem that the maritime industry has to, it's the cost of operating its current business model. And this also produces around 280 million tons of carbon emissions which is roughly about 55,000 empty vessel ships which are extra and carrying no cargo. So we built an independent marketplace called Cubeks Global. It's a B2B2C marketplace where we take this exclusive empty space which is going to be shipped anyways. We put it exclusively onto our platform and in a bidding option model, different industry stakeholders from SMEs to manufacturers and even end consumers can then bid and buy these on spot onto our website. Starting in 2018 we launched our POC and it was very successful and by the end of last year in December we launched publicly. And since then we have seen that we have grown massively because this was a fairly big problem that was faced by many SMEs and manufacturers. Back in April we saw that due to the global pandemic situation the entire supply chain was choked up due to vessels not reaching on time and manufacturers not being able to produce and there was a lot of demand or demand went up by three times. So this whole problem is not just about this empty space which is being shipped. It starts from where and afraid forwarded books, thousands of containers in advance, years, up to three years in advance on multiple different corridors and shipping routes. Every container is bound against time and every set container has a specific time when the doors will be closed and it will be put onto a ship regardless of its status being empty or full. And freight forwarders are running against time constantly to fill this empty space and there's no independent marketplace or a centralized system where two parties from the same shipping port going to the same destination can actually figure out that we're sending half empty containers then we can merge them. So Cubex Global came out with this marketplace and we built the solution and we've seen since early this year that our demand has gone up by three times and we are right now struggling with supply. We're right now struggling with supply and we're trying to fulfill the sudden increase in demand. Over the last year we have also learned that there's a lot of interest from a marketplace perspective with regards to brokers who are actually booking shipments in advance through historical data and there's a market within a market which is the pricing and hedging in, you know, future futures market. So, from the start of this year till now we have done in excess of 5000 shipments and we are very close to hitting the 1 million mark by the end of this year and at the moment we are running our series A round of funding. We just closed our seed round of funding where the government of Oman invested in us, the UAE government has become a strategic partner and we are talking to several other governments within the Middle East to help us with this initiative and have strategic alliances to promote this marketplace model which certainly reduces shipping port trips but also has a massive impact on the marine ecosystem. Great. Well, I think I don't know that there's, I don't know that there's time built in for Q&A but I'm certainly, you know, I'll take cues from the forum. But I, for now, we'll move to Karen Scottfield Seal, who is the CEO and founder of Oceanium. Thank you, Karen. Yes, thanks, Justin. Hi everybody. And thanks for an amazing discussion so far. Really interesting. So yes, I'm CEO and co-founder of Oceanium and Oceanium was started in June of 2018. That's when I was introduced to my co-founder who is a biochemist. His name is Dr. Charlie Bavington. He's located up at the European Marine Science Park up in Oban, Scotland. I went to Charlie and I said I want to make packaging from seaweed. And he said that's great. I think we can do that. But there's a lot of valuable food and nutrition products in seaweed as well. So that is how the business model was born and this is the business model here in a nutshell. We want to enable sustainable seaweed farming at scale. There's actually a different side to that. But, and the reason being is that seaweed sequesters carbon, it absorbs excess nitrogen. It creates, seaweed farms create a bit of a marine protected area so that the fish and the wildlife know that they can go there, you know, fishing or dredging and so increases biodiversity. It's a fantastic source of healthy and nutritious food. It's full of vitamins, minerals, algae oils, proteins and increasingly important with drought conditions and soil erosion. And unlike competing feedstocks, it does not need cleared land, fresh water, insecticide or fertilizer. So for example, soy from Brazil, it's something that can grow locally and be consumed locally. So this is the business model. We will purchase fresh wet seaweed from seaweed farmers, bring it into a bio refinery facility which will be located near the seaweed farm and using all green and clean chemistry and innovative proprietary technology which Charlie has developed, we will extract the maximum value. So using all the different elements of the seaweed and extract protein and fiber and high value nitrosuosicals bioactives which are good for immune systems and gut health. And then we use the remaining biomass to make a bio packaging material. It's not bio bioplastic. It is a all natural material that is designed to be home compostable and marine safe. And I can show you some of the samples if you can put the camera back up. So where we are, we are new. We are still in R&D. The next step is to do to prove the processing at scale. And then to do a demo bio refinery facility. The packaging material will be patented. We will be applying for patents going with that forward. And I think the important thing to remember here is, and, you know, kind of, I was really interested in what you all were talking about earlier in terms of the coastal zones, but also, you know, innovative and making sure that, you know, there's no unintended consequences. And I think that is something that we are really adamant about. I mean, we are definitely a social impact business. We're measuring our impact against five of the SDGs. We have two life cycle analysis in progression right now, and we'll continue to measure and report our impact as we develop the business. But it is really important to us that the industry grow in a sustainable and managed way, unlike other forms of agriculture that were mentioned earlier. And with, thus, we are working, for example, with Lloyds Register Foundation, New England Global Compact, Seaweed Manifesto, and also Seaweed for Europe. So really working with industry stakeholders, working with small scale farmers, you know, to make sure that it works for everybody across the value chain. So that's it. Thank you very much. Well, thank you so much, Karen. Very interesting. Finally, we have Declan McAdams, who is the chairman of Penovo, and she is our final uplink sprint winner today. Hello, I want to explain to you today how technological innovation in the seemingly mundane area like rust removal can have a material positive impact on ocean health, strengthening and improving the oceans resilience to the effects of climate change. So let's start at the beginning. Not many people realize that paint is plastic, and the industrial and marine worlds are full of steel assets that are covered in paint to protect them from corrosion. However, that force of nature corrosion can only be slowed down. It cannot be stopped. And as those steel assets corrode, paint residuals, approximately 50% of which are made of a plastic, fall into the sea as microplastics. On top of that, when the asset owner decides to repaint the asset, they must firstly remove the old paint and rust. And to do that, they generally use the traditional methods of either open grit blasting, which you see here, or high pressure water jetting. And the end result, well, the old paint residuals now crushed into microplastics end up in the environment, and most often in the oceans. Because those steel assets I spoke about are generally located in the sea, oil rigs and ships, over the sea, bridges, or beside the sea, oil refineries and shipyards. To put that into perspective, and taking just the 184 oil rigs in the North Sea, sandblasting and water jetting on those rigs alone cause pink microplastic emissions that are the equivalent of dumping 14 million plastic bottles into the North Sea every year. We estimate that globally between one and a half and 2.25 million tons of paint microplastics are dumped into the oceans every year. Now compare that to total plastic weight of 8 million tons entering the oceans annually, and you realize that this is a very big, but little known problem. So you might say, that's not good. Well, what has it to do with climate change and the race to zero? Well, very simply, Penovo, a Norwegian company, has developed and patented vacuum blasting technology that will protect ocean health, reducing the impact of climate change on the oceans in two ways. Firstly, Penovo reuses the blasting grid up to 20 times. This significantly reduces grid production and its transport, and in this way lowers the life cycle CO2 emissions by over 60%, compared to the traditional method of open blasting. It may not be zero emissions, but it's a big step in the right direction. On top of that, we can recycle the used grid to give it more lives and future maintenance operations, further reducing CO2 emissions. Secondly, by stopping all those paint microplastic emissions entering the ocean, we protect ocean health and biodiversity, considerably strengthening the capacity of the oceans to mitigate the negative impacts of climate change. It really is that simple, in theory. In practice, it's much more challenging to convince the traditional industry, surface maintenance, to change its practices that go back over 100 years. For that reason, we are very grateful to Uplink and the Forum for their support of our efforts to put the issues of paint microplastics and stopping open blasting over the oceans on the agenda. We need people to realize that paint is plastic. So next time you're driving over a bridge and you see someone repainting the bridge and blasting off the old paint and rust, ask yourself, how is the blasting being done in a good old traditional manner where the grid is used only once, and then the whole lot, including grid, rust and paint microplastic residuals are all dumped into the ocean, are cleanly with vacuum blasting, with reuse and collection of the grid and recovery of all the paint microplastic residuals for recycling or safe disposal. Even better, why not raise this issue at a political or regulatory level in your municipality or at a national level. The anti pollution laws are already in place in most parts of the world. What's needed now is awareness and you can play your part in making this happen. As I hope you've seen this afternoon, changing from dirty traditional blasting to innovative and sustainable clean vacuum blasting can make a significant positive contribution to improved ocean health and to climate change mitigation. So remember, paint is plastic and stop open blasting over the oceans. Thank you. Okay, we're going to move on and it seems like we lost Justin, but we're going to bring up at sushi tsunami. We're so grateful to have you today. Thank you so much. Sushi for being here and if you could please provide us with closing remarks. It's quite interesting that our technology and innovation session had so many technological glitches but we appreciate everybody being here and we really look forward to your remarks. Thanks again for joining us at such a late hour in Japan. Thank you. Thank you. Thank you for the introduction and I hope that the Justin will come back. I think the technology is I once again delivered the introduction. Oh, okay. Well, you've already been introduced. So thank you for joining us at what a please start. Hey, thank you. And I also thank all the speakers for sharing with us. You're inspiring stories about how you're promoting innovations for sustainable ocean, including various important business models that you have been developing. And I think they're very important to have not only technologies and solutions to all the ocean to create a sustainable ocean, but also the business models are very important to actually implement those technologies and to really create innovations and and and and and also the ocean climate ocean problems. And I'm once again I'm a tsunami the president of a Sasaka Peace Foundation and also heads the Ocean Policy Research Institute in Japan. Our foundation promotes international partnerships for peace and prosperity and security and and the our Institute undertakes research for achieving a sustainable ocean. And I'd like to thank the high level champions for global climate action and UNFCCC secretariat and the World Economic Forum and friends of ocean action and all the partners for organizing and joining this session and giving me this opportunity to speak to you. And your stories have really affirmed that the ocean is extensively embedded in our economy and there are myriads of challenges and opportunities to address the nexus of climate and an ocean. In order to further boost contributions from ocean based sectors for climate change and mitigation, we need to facilitate the transformation of the maritime sector as a whole through enabling policies and supply chain transitions. So we need to create co-benefits and synergies and provide incentives to innovate innovative business models through market measures, industry standards and government policies and regulations. And today I heard so many good examples all over the world challenging these or joining this effort spearheading this effort. And we need to accelerate the application of innovative technology to enhance sustainability sustainability through the life cycle approach effective local actions should be shared and scale up. So science is at the heart of the technological development innovations and technologies should also be available for adaptation to ensure inclusive and equitable development. The world is heading towards the net zero GH greenhouse gas emissions and in Japan Prime Minister Suga finally announced last month that zero net zero emission target by 2050. As we move towards the carbon free society ocean based solutions have a significant role to play in feeding the GH greenhouse gas reduction gaps. Ocean based mitigation options, including ocean based renewable energy may contribute up to 21% of additional mitigation measures to reduce greenhouse gas emissions to net zero by 2050. So our Institute OPRI has a long standing commitment to multi stakeholder dialogues and actions to facilitate the discussions on ocean and climate issues at UNS triple C. We have been an active member of the Marrakesh partnership and have contributed to the development of ocean and coastal zone pathway to achieve the net zero by 2050. To provide analytical building blocks for these efforts OPRI is carrying out studies on ocean based mitigation potential focusing on wind power potential for seaweed beds as a new blue carbon ecosystem and climate resilience sustainable seafood. Each of us whether we present a national and local governments business or experts or consumers all have entry points and responsibility for taking actions and achieving sustainable ocean. In order to promote such multi stakeholder dialogue OPRI along with our partners is taking part in another GCA event virtual ocean action day on 20th November to raise the momentum for UNS triple C ocean and climate change dialogue schedule from second to third of December this year. So much can be said about today's rich and inspiring discussions and I hope that we can continue dialogue like this one to pioneer innovation for mitigating and adopting to climate change and achieving a sustainable ocean. We need to act a expeditiously and must work together to bolster our actions. Thank you again for great discussions and hope to see you in person next time. Thank you. Thank you so much. Mr. Tushi tsunami who is the president of the soccer soccer peace foundation and president of the Ocean Policy Institute at SPF. Thank you for those inspiring remarks important remarks about putting science at the center of innovation and technological solutions with that we conclude the program. I thank you all for joining. It's been a really enlightening discussion. Thank you again.