 Mining can be a messy, controversial process. Yet we need these materials for the goods that we use every day. Could we imagine our lives without our phones or laptops? The European Commission introduced the Critical Raw Materials Act in March 2023, with the aim of diversifying where we get these materials from, including increasing domestic supply. One key solution is increasing our circularity. In other words, how we can use our materials in a more efficient and smarter way. It also means having the ability to reuse our materials when we are done with them. The Critical Raw Materials Act has a recycled content target of 15% by 2030, but circularity is far more than just recycling. In July, Seattle Europe's Materials and Products Task Force launched our report. This report combines cutting-edge research along with practical business examples. The report demonstrates that far more can be done to make the most of the materials we dig up. I think what we see is that there's really a need of an urgency in the sense that from Europe when it comes to circular economy, of course, we've already taken some steps, but honestly, I think we need to show a lot more ambition. We don't have mines in Europe. Maybe we have a few mines in Europe. The importation of raw materials from third countries is very high and our dependency on strategic minerals is very high in Europe. My key takeaways are that the report points to three key policy initiatives that should be undertaken with urgency. The first of those is that we need to have a more joined-up, strategic approach to industrial strategy that links critical raw materials to the other climate and sustainability challenges. The second is that overall policy on this needs to be much more coordinated and aligned, so there are not perverse incentives. And the third is that we need to combine an overall strategy with a case-by-case approach so that each critical raw material has the right response within that overall framework. We need more of these materials, but there's only so much in the earth. I think the commission itself said that the lithium expectation for demand of lithium is going to go up by 13, 12, 13 times by 2030 and even higher by 2050. We can't do anything about that unless we use and reuse the materials we already have and our report really demonstrates the ways that we can do that. It's expectations from our customers, our investors and our employees that we use the ME resources in a responsible way. This helps both reducing costs and CO2 footprint of our production. In the automotive industry as a business, we need to go beyond climate change and if you look at the impact on biodiversity, if you look at the geopolitical context today we are doing business in and so on. Without circularity, we are not going to be a sustainable business in the long run. What I also heard today is that a lot of businesses are already working on these solutions. That industry is really ready to take it up, but of course, that they also need to have the support and the strategy in that sense to make sure that we really create the circular ecosystem and framework. Circularity will play a key role in the way we use critical raw materials. Our report demonstrates the tangible actions that can be taken now to ensure we create a green circular European economy. If you would like to learn more, check out our report.