 What we want to do is some name and I think you get the message so first we have talent on the on the scene as you've seen in different areas and sectors And this new generation and I see it Day-to-day in my life you you witness it as well Needs a purpose you can read it you can experience it yourself And I think they are part of the solution. I hope we could show it to you and and We have it's part of the solution by the way for us not only to explain all the rational aspect But also to put more emphasis on the purpose So I would like to open the floor to questions on the technical aspect of climate change but also on what this young generation is expecting and How they would like to engage with you as you show in the case of Lyon the call for diversity the four call for Finding a solution all together, which is part of the solution open for question Yes, I Wonder if it's not too rude if each of you could tell us how old you are We heard 25 so you don't have to say it again You should not have corrected So not quite as young as the others at 37 I'm 35 And I was not part of your question So, yes, please This is just a wonderful moment. I'm very touched with your lineup of Future leaders of the world Congratulations on this panel. My name is Tatsumasa. I'm the mb professor in Japan also Germany London of captain Fercot captain London. I need your advice please I Belong to the energy envelope workshop. We had a long debate on how to narrow the generational gap on climate change perception and we came to an idea next year in UN climate summit in September 2020 We will respond to Greater Thunberg's challenge with something concrete measures But do you think this is a great idea for our generation to do to breach the gap with younger generations or You have second thought. Please give us advice what to do. Thank you I'll take maybe another question. Yeah Thank you everyone great presentation very enlightening. I just want to add something because you all spoke technical I to give the the the subject a bit of a geopolitical perspective The climate change has a political implication I'm a specialist on Syria and what led to the Syrian crisis, of course, there was corruption oppression You name it, but there was a drought You know that came to Syria that year and of course the government is inefficient and oppressive and doesn't care that led to 1 million people 1 million people in rural area to be Driven below poverty line and they went to the to the cities You know in suburbs in and this what led to major discontent and this was the spark for the revolution also a lot of a lot of Inter-tribe Intergroups fighting in Iraq is on on on areas that have that have water So what I want to say the climate change is not in our health in 50 years It's also leading today to political Unstability especially area like Syria in Iraq, which is the most arid area after the basin of India Every seven years they have one year of drought and you know, we don't have any efficient solution I want to add something, but there are I mean you spoke jihad spoke about about water scarcity Well, there are solutions. For example, they make Kong River You know Laos Vietnam and Cambodia they did the rotation presidency where the the government of the three countries discuss among them and Source project to better benefit from this water. Thank you another question Yes Hi, my name is Manu. I'm from India. I have a question for Peter So it's a difficult one. I don't know how to articulate it really So I study international relations. Yeah, so they trained me to be Thinking as a realist. Yeah, so my question is would it be better not to talk about the profit motive? you know and See climate change or the combat As as an industry the reason I ask this is again coming from maybe a cynical point of view that I draw an analogy with What's happening around the world when you speak of war? They say war is business One of the reasons we have constant endless war is the military Industrial complex. So I asked this question because would you say we have the risk that Somewhere down the line. There are interests, you know that rise to almost sabotage the Objective behind the scenes because it's business. Okay, so three sets of question one on the generation and Gender one on geopolitics and one on finance. So the good news that you're sick So to answer the question pick your battle. Let's start with you Jan. It's easy Give time for the others Yeah, I'm completely aligned with you there were the effects of climate change are already there and we see them in Africa more than anywhere I Referred to the Deforestation, but there is also the desertification That is happening today the soil is is growing and it's leading actually the growers the to move their Heads down south and They move down south to the agriculture lands and actually now there are a lot of troubles and tribe conflicts between the growers and and the farmers and leading to extreme Violence, especially in Nigeria, for example and also in north of Mali And we also have the problem as you said of drought and we had it in Africa like that in the last two years in Australia and East Africa and the effects were dramatic the the prices of the crops increased people on extreme Poverty and couldn't couldn't afford to to feed themselves But to be able to have innovative solutions like the one we referred to for example in the Mekonga River It will be possible if you were we had more geopolitical stability To be able to do that we need to talk to each other the countries and to build alliances and And this is it actually operationally very complicated today But I hope that's because of the urgency and the momentum at some point our Heads of states will realize that there is an emergency to and that we need to talk to each other and to find solutions because it's It's a problem that is concerning everyone and everyone will be facing. It's the end of the day James maybe a compliment. Yeah, so to the to the first question in terms of what can be a concrete measure that you could bring forward Again, I think we're all looking for that. I would just encourage you as you think about those concrete measures Think ultimately about about the issue of inequality and this is what I was trying to touch on mostly is that it Ultimately, you need to think about how how can you enable people to actually use those measures? There's one thing to to have good policy. There's one thing to have good tools But if people in the end aren't able to make use of those if people aren't able to internalize those because of other externalities because of the concern for you know The say their safety there their their safety or security in their work They're just not going to get there those tools won't actually be used as efficiently as you hope they will Thank you. So Peter on finance, and then I will ask Polina because I'm sure she's a different I have a rather direct question to me so So I kind of wanted to touch on some of the generational Conversation to is because I wanted to use actually a very personal example is that you know Trying to narrate what we do is so fascinating right now particularly with invention capital particularly with old venture capitalists and Convincing them that they should invest follow-on finance and our portfolio companies So there are two different languages that I find myself speaking One which is about my conviction about how we should consume less We should do all of these different multi-prong approaches and I can focus on the impact slant of things Interestingly not all of mainstream venture capital cares about that So to some degree I have to then go from talking to an entrepreneur who is very inspired about what they're doing And have so much conviction around that and then I have to put it on a very different hat and go talk to The endresons of the world's the founders funds of the world's these different sorts of investment funds Thankfully, all of those firms actually are forward-looking but you know The other thing that I wanted to touch upon about is what motivates people You know, we're all motivated by quite human things desire drives love power all of these conflicting and and at the same time, you know strangely compatible drives and What I notice is that Some people are responding better to the narrative when I start talking about money Because it is a better anchor for them psychologically and ideologically And so I want to show people. Hey, you can have both I just try to figure out who my audience might be To give them to to understand or to to focus on what might motivate them and speak in a language that meets them Where they are Thank you Rational view Polina so I would like to touch a question about Young and old people. Let's I don't know old is fine to say like this but What I want to say if you are talking about a human extinction. It's not about old young woman Man, it doesn't matter. So we all should unite and fight it. I Mean, why do we need to plastic bottle to fill up our cups here? Why we cannot fill up it in advance and bring I mean from the cafeteria. Why we make a lot of waste so we Yeah, they're all different. It can be different approach from government But if you have some power in Government so influence on it if you cannot influence 25 years, you're trying to push some law. It doesn't work. So go to plant trees at least you will put some positive step in there in our planet and You will do Something good or okay, maybe a political Sphere, it's not for you go to be engineer and Place a PV models be built wind turbines. It doesn't matter what just to find your best way where you can be useful This is what I think So Xavier on this question on how you mobilize across because you present us the governance the National Committee and then what about Generation gap or diversity? I I think this question is very interesting because on the citizen convention I think 25 25 percent of the people are retired So you have to go over the generation gap because otherwise there won't be no decision in the end I think One of the most important thing that people let's say elderly can testify about is how the life improved Over the course of the life Because the carbon that we use we have used it to to improve our lives to to eat better to be better to have better health to to have more Transportation and the youngsters they probably don't realize that that's also probably the reason why they don't understand Why the elderly are more attached to the way they live today because they have Realized how they lived yesterday, and I think that there has to be a discussion about What we can? Maybe as you said Abandoned like plastic bottles and I don't know the factory that you have big huge huge car and a big house Somewhere far from the city and the things that are that really matter because unlike my neighbor I'm not completely sure that technology can produce the entire Solution and especially technology without regulation that would be able to Generate money out of the air So out of the alien you make money out of the air We make a lot out of the polluted air Also wanted to tackle the question of the generation gap and participating in this Conference I realized that I also have a personal generation gap So I'm still a Chinese citizen. So in my life I didn't have the opportunity to vote for any political party and for a very long time I wasn't really interested in politics up to the point where realized that Voting is not the only opportunity to create change to create innovation And I think that's also where the younger generation Sees their opportunity that without a vote they can also participate and in a dialogue create change and From personal experience. I can also say that in our company For instance our CTO he has worked for the automobile a mobile industry for over 30 years and At a certain point he got the realization that this is not what he wants to do for the rest of his life And what he wants to leave for the next generation. It was also his personal experience that drove him to our company and This again makes it possible to learn from the older generation and learn from their experience on how you can create a sustainable future Thank you Yeah Yeah with that, please first of all, I just want to say it was Deeply inspiring and thank you all very much For what you contribute to Let me throw the policy challenge at you and we do plant trees person, but but let me throw the policy challenge right now there's roughly 5.9 to 6.2 the numbers aren't in for 2019 Trillion dollars being paid as fossil fuel subsidies today If you want the figures you can get them on the IMF website The problem is about 75% of those subsidies make energy Provided by existing energy utilities Affordable for people who can't pay market prices for about 75% of that 5.9 6.1 trillion One problem. How do we shift? That Package of subsidies which would make a real difference in terms of creating alternative technology solutions and Potentially make some contribution towards changing behaviors. Your point is very valid How do we shift that into energy transitions that actually focus on deep decarbonization and increasing use of renewables 0.1 0.2 right now we've got about 2,000 gigawatts of coal-fired plants That are less than 12 years old The capital cost involved in those particular investments today is gigantic and most of it is still Attracting debt service obligations from either the countries or the utilities that put it up in the first place How do we deal with that problem in the context of energy transitions? It's not that we don't need to deeply decarbonize and to shift vastly towards more responsible lifestyles and To the extent that we're going to rely on fuel for electricity and and mobility Increasing use of renewables. It's how to do the transitions. That's the challenge You're all making a contribution to it Precisely because you're doing that I'm throwing out the bigger challenge to you not because I expect answers now These are really tough questions, but just because that's what we all collectively face If we actually want to get down somewhere close to that 1.5 degree level Thank you I think it shows how seriously you are taken given the size of the challenge. Thank you for the point Maybe we'll see there is another question and I'll come back on this because I think it calls for another thing Is how do we carry this conversation forward with the talent we have? I don't like you I don't think we'll have the answer right especially in 2.47 2 minute 47 seconds But it's how we carry it forward and it's a challenge to some name and myself is yes I think part of the team we have here and others young leaders we have brought in this could work on this and Uncome with proposition we your last question in particular have been discussed when we have prepared this session and Unfortunately, we acknowledge that we didn't have a proper answer But it is acknowledged so to your point so agreed another question Please be kind. Thank you Another young leader that can contribute to the answer Well, first of all, thank you so much for your presentation. Very exciting very inspiring I'm I'm always I'm less skeptical than Xavier about technology I have high hopes in technology to help us move towards new business models that are more like circular Economy style or that help us live with the consequences of the pollution But for now whenever I hear about all these fantastic innovations, it's still very localized or regional and my question is What should be or what could be the next steps to move from? local fantastic innovation to more widespread all around the world Thank you wants to comment Yeah, I'll try to give my share my thoughts for the your question sir on the challenge the policy challenge I think that it's Almost impossible to solve the equation of one securing that the Middle-class Population still can have access to transportation and then to the carbon taxes and we see with the example of friends What happened when they they took off the carbon tax, but at the same time We also need to invest So for me, it's not a shift of the budget I think that we have to realize that we need to spend money and more money and more debts to be able to address that problem and I think that If it's more that today, it's gonna be less investment tomorrow to try to solve it's gonna be too late so better in spend the money now and and try to to push that transition without Harming in the livelihood of the population It's controversial, but I think that that is necessary in this case Thank you. We are at the end of the time. So I thought a couple of other questions You still have the opportunity to engage with our young leaders I think on the last point we take the challenge to build something and structure something maybe not be for one year but in preparation to be discussed with Terry how he wants to handle because Big challenges are thrown to our young leaders and I think we should say yes to taking the challenges Always say yes and then get back and surprise you with the answers. Thank you for your participation