 We are in the midst of the fourth industrial revolution. It comes with great opportunity, but also some issues. And we are going to talk about a topic that is very important, the consumption landscape. As you know, 60% of consumption drives global GDP. Consumption is changing pretty rapidly in a positive way as a result of the fourth industrial revolution. But there are also issues that we need to tackle, things like the role that business will play in addressing climate change, economic inequality, health and well-being of consumers. And we'll cover all of those topics today with the panel. But before we get started and before I introduce the panel, I want to let you know that Chatham House rules apply. So you can certainly refer to the panel, refer to the discussion, but not make any attribution. For the panelists, I expect that we'll have a robust discussion. And please opine. I'm certain that you will as we go through. And I will have time at the end for you to ask any and all questions. And for our individuals that are live streaming, you can certainly comment on the discussion today by using the hashtag WEF20. So let me start by introducing our panel today. On my left is Judith McKenna. She's the president and chief executive officer of Walmart International. Welcome. Judith has a very interesting story to tell about her arm. And I'll let you talk about this bar fight that you got into. Yeah, it's not quite as exciting as that's sadly, so it is not a Davos related injury. I was taking the rubbish out in Arkansas to the bins and resulted in a broken wrist. So that's about as exciting as it gets. But Judith McKenna from Walmart. Next to Judith is Shu Lei, who is the CEO of JD Retail. And then we've got Carlos Brito. He's the chief executive officer of Aniser Bush in Bev from Belgium. And Geoffrey Lu, who is the chief executive officer of MONGU from China, also a member of the International Business Council. Welcome all. We've got Sarah. Where's Sarah sitting? Sarah. And Sarah heads up the executive committee. Well, as part of the WEF executive committee and heads up the shaping the future of consumption system initiative. So, Sarah, I'll call on you in a little bit as well. So let's get started. My first question and I'll pose it to the entire group. What would you say are the dominant forces currently impacting the consumption landscape? I'll start with you, Judith. Thanks, Pernette. Such a broad question. I think WEF has done a really nice job of framing some of those kind of forces that come together and some of the issues that come out with that. So, you know, the health and wellness for consumers, environmental sustainability, social, economic inclusion, and data and transparency. And I think they're the right headings as we think about the changes that are happening in the landscape and what's becoming increasingly important. From our perspective, I see kind of two major things. Clearly, and I'm sure everybody will talk about technology. And I think the changes that technology are bringing and the access and transparency that that creates is undoubtedly a huge shift in the way consumers behave. If you couple that, though, with a change in consumers' expectations, and I think those expectations are twofold. On one hand, there is one around time and convenience and just making my life easier. And as I can see more around happens around the world, I can see what other people are doing. I can see my interaction with others. How do I make my life the very best that I can make it and have time to do the things that I want is a big shift that we in particular see about how people shop. The other side of that, though, and I think particularly relevant for this panel and the work that's being done, is consumers increasingly want to work with businesses who not only do the things that make their lives better and easier and give them good value, but also care deeply about the work that businesses do outside the business context itself. So it's what you do being done in the right way, and that has a number of different elements within it from the social elements, inclusion of people into the workforce, thinking about environmental and those kind of areas. And I think one of the things that we're really concentrating on, Pinnit, is how we make this very practical and how as you respond to consumers' needs, you can do that in a way that is both good for the business but also good for society. And one very small example would be I was in the UK recently and they have just launched for the first time ever a range of vegan private brand products. It's now one of our biggest selling products. So thinking about the sustainable aspects of veganism, plant-based proteins, it's a great business line for us but actually answers a consumer need as well. So this kind of connectivity in the expectations of consumers around, I wanna work with businesses who do things that are in line with the values that I have and are increasingly important, I think is an area where all businesses can continue to play and to do a broader role in meeting all of the demands. The access that technology gives us, the change that that brings, the doing sort of good business to make life easier for people and doing it in a way that is sustainable and right. Carlos in our pre-meeting, you were talking about farmers in Africa. Pick up on what Judith just talked about. How is your company doing what's good for them as well as good for society? That's a good point. I mean, first of all, good morning everybody. It's great to be here. What was saying before we started this mini-year was that we realized that many years ago that our business is a very local business. So when you compare us to a smartphone maker, for example, they will do that smartphone in one or two countries in Asia somewhere and export to 200 countries and sell it in 200 countries. 95% of what we sell, produce, brew is sold locally. So we're totally connected to that community. We hire people from the community, we brew in the community, we have water and farming products from the community, we sell back to the community. So we're totally connected. So when there was a civil war in South Sudan, we had to close our business in South Sudan because the brewery, our people went home because there was no way to conduct business. So we realized that we're very connected to the community and that the community is thriving. And then we also have a chance. In Africa, we realized, and now in parts of Latin America, that brewing beer and importing raw materials was not always the best for that community. So some years ago, we decided to develop local recipes. They were locally relevant, using sorghum, cassava, maize, things that local farmers were producing because in those countries normally what you have is the problem of illegal alcohol. So alcohol, branded alcohol is very expensive, so people go for cheaper products and some of them die, go blind because of the quality of the product being very poor and no control. So we went to government and said, hey, we can adapt our recipe and launch different products here using local crops. In some of those countries, more than half the population is in agriculture but subsistence agriculture. We said, give us a tax break so we can practice a lower price in the market. We can bring those consumers to branded products. We'll get those farmers to go from subsistence to commercial farming by giving them more technology that exceeds and guaranteeing that they have a market once they harvest so there's no risk for them and they become commercial farmers and everybody wins. Consumers are safer, we create more formal jobs. The government collect taxes because from illegal alcohol they collect no taxes and now farmers are commercial farmers and instead of sending money to Europe, Australia or Canada buying their barley or malt, we keep the money here and this farming baby will be my consumer because now this farmer is gonna be present in the market and their families can go to school and all that. And then just one last thing, connected to that to discover that because these farmers are very small even when they yield triples or quadruples they continue to be very small. We need the middleman to consolidate this cargo to a truckload to send to our breweries and this middleman was not necessarily passing the money we're paying to him or her to her, the farmer, normally a woman. So with blockchain, we developed with an NGO from India called Bank Hue, a system of a distributed ledger where we now know who's getting what in the chain and now this farmer who was never bankable because she couldn't prove income of any source had no report or material paperwork. Now in the flip phone, she has in the blockchain she can prove that she's a supplier to AB Mbava Global Company and now she's bankable. So now she can open a bank account, now she can maybe have a line of credit to develop their business. So a lot of these things mushroomed from this idea of we're local, we need to do what's good for the local guys, there's a whole bunch of subsistence people here, let's elevate them to commercial farming and keep the money going around the society and the virtual circle. So that this is the idea of consumption benefiting also stakeholders in the communities. Xulai, what's your perspective? In China, in lots of companies, we believe in sustainable development but at the beginning we were not very well prepared. For instance, for us, we are keen to ensure poor people, including institutions, sustainable opportunities. In Davos, we get award for our one product, one of our products trailer. In the poor country areas, we support farmers and producers to develop their business and we provide a platform to allow them to sell their product in a sustainable way. In the recent five years, using GED.com platform, we have quite a number of project for sustainable development with 75 billion renminbi in value. In addition, we're working with other brands, companies to develop the sustainable product. For instance, we work with Unilever to develop environmental protection project. We work also with Coca-Cola for a product, for the recycling of product. With the upstream companies and downstream companies, we are working on the recycling of products for the sustainable development. I wanted to insist to one point, Chinese consumers in two decades and three decades, we succeeded in getting the same perception, high level perception as Western countries and peoples. At the beginning, we wanted enough product, then we want high quality, high good brand product. Now we are entering the third stage. Consumers are not satisfied with only brand, good brand product. They want special original product and in some developed areas, consumers are interested by product that respect the social responsibilities and the social values. Therefore, companies should provide good product, good brand product, but also uphold the social responsibility values. We have 1.4 billion population, but we have different categories of consumers. This is very interesting. Back to similar to Shu Lei and what Carlos and Judith talked about. I think maybe a little bit about our company then I start from there. So we are a very young company, we only have a history of 20 years, among you starting from nothing, being a dairy and nutrition company, in 20 years time we become an 11, 12 billion US dollar company. When you look at that phenomenon, you will see that a large part of our job because dairy you have a very long supply chain. You go all the way from feeds, farming, production, logistics and then all the way to retailing and partner with our retailer partners to sell product to consumers. Now, what we are doing now is, the challenge we have is for a pack of milk, we only sell 20 cents of US dollar. We serve billions of pack each year. A pack of milk for 20 cents? Yeah. To serve almost 90% of Chinese family. And you know farming, we can only farm in the northern part of China. So manage such a large quantity at a very high level of quality because you know China has been facing a lot of challenge on food safety. So we have to do a lot work on that side. So how we are actually be able to be more efficient but at the same time manage the entire sustainability all the way from growing the feeds to service our customers, right? So if you take like one, I always use one example that I'm using. Today we have digital farming. We use smart logistics where we use AI. For example, we have 60 factories serving 2000 SKU of two million outlets. How you optimize that? And we cannot calculate anymore. So you have to use really the new technology. So my simple kind of a conclusion is that with such a large quantity to manage to service and still be sustainable, you have to use technology to really be more efficient and be environment friendly. Each pack of product when they move out of factory it has to ship almost six to seven times move before they reach the consumer. But using smart technology that we are able to reduce by one. So meaning that only they will transport by four times to reach our consumer. Then you actually have reduced really the carbon emission. So all these such a long supply chain every part of your supply chain you need to think about innovation and technology to make it viable, right? So this is the challenge. It's not about whether a consumer will, there's a consumption type of, but it's a basic nutrition that you have to service them with such a level of a quantity and quality but do it right. So this is really my interpretation is always technology and innovation in the entire supply chain to manage the challenge of sustainability, manage food safety, manage also society because people you deal with farmers, right? So you have to help them how to farm more efficient and to be more environment friendly. That's one side. But when I come back to the point about, at the same time we are managing consumer who are willing to pay really premium looking for even better benefits on side you almost service like two word. One, our consumer even pay more to buy a Uyghur than probably the price in U.S. But at the same time we have a consumer who need basic nutrition and you have to manage such a large quantity and of quality. So if you put that all together this is already, I always say part of our business is a social business and part of our business is like an innovation driven type of business. I think the last part is interesting. Go ahead. I think the point that you draw from that which is really key is this need for collaboration right throughout supply chain. We partner with everybody here on the panel and what's clear is you can't do anything about one part of this. You have to tackle this end to end and do it in conjunction with other people because otherwise you don't get the results that you've talked about and I think that's becoming increasingly a trend around this as well which is how do we work together to get the best results from it? What I heard from all of you the last point that you made ecosystems are very important and you cooperate across even on the stage. Technology and innovation are the point that you made and the point that you made but the part around responsible consumption it seems like all of you talked about that. I want to ask you a question on that. Does your company have an explicit statement in its purpose around responsible consumption? And if it does, how do you measure it? Let's start with you. So I think our statement is we help people save money so they can live better so embedded within the live better is can they actually have access to the things that they need? Do they have them at reasonable value? And do they help promote a better sustainable planet as you go through this? So the purpose statement itself encompasses it it's not directly. The way we think about this is that we put it into some very clear targets for the organization. So we have a target which is to reduce a gigaton which is a billion metric tons of emissions from the supply chain which we are connected to by 2030. We've committed to 100% recyclable, reusable on compostable waste and plastics within our private brands. So we have it inherent with what we do and who we are. And we think about this as an objective and a strategic objective. So I think one of the most important things here to achieve what we need to do is that companies have to stop talking about this as being a nice to have on the side of the organization that's an enabler at the bottom of the pyramid or whatever shape of kind of strategy that you create. And it has to become part of that living and breathing every day. And that's what we're committed to doing. And that has been a shift that I've seen in many businesses including ours over the last few years is to really actually embed it in the day-to-day of what we do. And it comes down to the smallest things. So do you put your very best people onto solving some of the problems like this? Or is this a sustainability function, for example, that sits to the side of the organization and comments in, or is it fully integrated with some of the brightest and best minds that help to drive the outputs that you need to see? And that's certainly the model that we're moving towards. And this point on then, how do you take that in collaboration with your peers, with the people who supply you, with the people that you partnership with in order to make sure that we all have the same objective? So I don't think there is a supplier in our ecosystem that we do not have a conversation with today about sustainability, about inclusion, about all of those things that are critical to us not just what does the business plan look like? Carlos? Well, we always say that given the business we have that sustainability is not like a part of our business, it is our business. Because when you think about it, no water, no beer, that's simple. So if we are in a place or in a community because we're so community-bound, like South Sudan, I was giving example, my assets are not easy to move. If there's no water in the community, like it was the case in Cape Town, just two years ago there was a big drought and we opened our brewery to the community because our wells were in great shape. And but that water's not ours as a community. So in other words, we always say that if you're not at the table, you're gonna be on the menu. So you better be at the table because you're part of the community. So you have to be discussing things that are community related. So I'll give you an example. Sustainability again, water is our business. Why do people believe that water will continue to be important for us because it's part of our business? So the last water I use through my process, the last water I have to pump, to extract, to pump, to treat, to heat, to warm, to cool and to treat it as effluent. So it makes sense for me to be very careful with water, not just because of sustainability but also because of my business. If I was proposing something on endangered species as noble as it sounds, people wouldn't have a lot of credibility on my purpose because they would say, okay, they'll do that for two years. Once people look to the other side, doesn't make business sense for them, they'll do something else. For us, the sustainability pillars for us are all based on our business. It's about energy, packaging, farming, water because that's what we have in my product and that's what the communities in which we operate, that's what's important for them. I'll give you another example. Six years ago, we started a private company coalition, co-signed by the United Nations in New York. I mean, United Nations, New York, Global Partnership. Now we have 26 companies in that partnership. It's called Together for Safer Roads. And the whole idea was there are many companies that can help governments get to safer roads. For example, I can because drink and drive, obviously, but telecom companies can because today, for example, you go to the U.S., there are more accidents, way more because of distracted driving. People taxi and driving, then because of drink and drive because Uber solved a lot of that because people don't need to drive anymore, right? But we formed this coalition with companies from car companies, autonomous vehicles, technology companies, consumer goods companies, insurance companies, IBM. So all these companies come with different data sets and we get the data set from the government and that's a global project and we help them process and get insights. So for example, I'll give you an example. There was a city in which games and the whole thing about sports and venues was something that attracted a lot of consumers to go to the venues and then go home. And there was a lot of accidents around those games, right? And they were putting heavy policing around the game, four hours before, during the game, after the game. And then a simple analysis showed that 90% of the accidents were, of course, once you say it's obvious, after the game, not before the game, not during the game. So after the game, in the first two hours of the game, it was two crossroads where, again, 80% of those 90% accidents took place. So in that city it was in a tight budget. So it said, hey, why don't you, instead of putting police all throughout these 12 hours, you put police for two hours, heavy police in these two trucks and then accidents went down to 50% in that one day and so on and so forth. There was another city that was close to the shore, close to the sea and every time there was a storm, number of accidents would escalate big time, fatal accidents included, because the sand would be blown onto the highway, onto the lanes, and people would have tough time breaking. And there was a company that would clean the roads once a week, always on a Tuesday. But sometimes a storm came on a Wednesday. So, again, basic data analysis showed that if you could have a flexibility with that company and say, hey, whenever a storm comes, you come on that day, half an hour later you clean, 90% reduction accidents. So silly things, but because governments operate in silos, so once you come there and say, hey, give me the data, we're gonna process this together with what we know from consumers from this region, from the insurance side, from the consumer goods side, from all sorts of sides, and let's try to use the money the best way so we can ensure better roads for concerns. Because today more than millions of people die on the roads for reasons that are preventable. So from helmets, to equipment, to roads, to these examples I just gave. I'm gonna open it up in just a minute, so think of some questions that you wanna ask the panel, but Jeffrey and Shule, no water, no beer, no water, no milk? How would you, yeah, exactly. Very quickly, I'd like to open it up to the audience as well. I think if a quick point I wanna make is that I believe our unique contribution is actually, we along the way learn how to serve a basic nutrition to every single consumer. Today if we serve like 1.4 billion, when we are in Southeast Asia, you add on to that, it's 2 billion, when we are adding more India and even Africa, we're probably talking about 4 billion. So our contribution is that how to serve those 4 billion people with nutrition and health, but in a more efficient and sustainable way. And we learn that along the entire supply chain and using technology, using digital. You know, one thing I also always make an example, a pack of milk, I have calculated, if we do the entire total digitalize of our supply chain, it carries 170 megabyte of data, just for a pack of milk, all the way from a digital farm, digital factory, we have four digital factory now out of the 60, and also along the logistic and also a consumer data. If you calculate and quality data as well, so if you bring these all together, it's 170 megabyte of data for a pack of milk. We should do that. But having that. With discussion on this digital factory, I'd love to be able to explore that a little bit more, but maybe the audience will ask you a question. You lay real quickly, and then we'll open it up. So something I would like to share with all of you. JD simply said, it is a online shopping platform, but we are actually a digital supply chain or retail platform. So in the last dozen years or so, we've developed technology and we've seen the changes and the impact it has had on the retail industry. There has been a lot of positive changes. I believe in China, as well as in other countries and regions, we've seen how digitalization has impacted retailers and digitalization, the speed of digitalization has been faster than ever before. And currently, we can see that in 38% of the Chinese population shop online. So this is a very impressive figure. So I believe even though there's so many people shopping online in China, the digital literacy actually in China is not that high. And when we look at the development of e-commerce, what has been the impact on traditional companies, traditional industries in China, be it in terms of the brands or platforms such as JD, what we have all noticed is that all of you sitting here today are partners of JD and you are very important to us. You are a shareholder of JD. So we know we are interlinked. Now in the process of digitalization, some of us share the same direction, but some of us do not. Now what we see now, the development of relationships is taking on an omnichannel model and sharing the online technologies. So together we are working on improving supply chain, on digitalization, retail, network. So in the end, I believe that in China, the digital performance in China will be excellent. And earlier I talked about the fact that in terms of brands, brands are being impacted by technologies such as 5G. So a lot of brands will no longer be reaching the consumers in the traditional manner. So there will be a lot of innovative channels. Now I know that Anhauser-Busch had visited China and we noticed that you have a lot of excellent brands, but these brands have not penetrated China. But basically speaking, Chinese people are very attached to brands. So are there innovative ways for your brands to be better penetrator or more deeply penetrated in the Chinese market? So for example, through certain public awareness programs or charitable programs to raise awareness of brands. So on this platform, we have to be very attuned to what kind of message we are sending to the consumer and how can we share these very representative or excellent products to our consumers? So from a technology perspective, actually many of us are engaged in substantial and meaningful growth. And within retail, the prospects are very exciting. Thank you. Thank you, let's open it up. Questions back there? We'll try and make this the rapid round. So I'll ask them to keep their answers short and pithy. Thank you very much. So I'm Akira Skano from the Global Shippers from Japan. And I also work for the communities to build zero waste society. So my question would be that you mentioned that it's important to build a new ecosystem for multi-stakeholders engagement to rebuild the relationship in the supply chain. From your business perspective, as well as looking around your sectors, who do you think is still missing to be engaged for rebuilding of such relationship? And what would be the challenge for engaging them? Thank you. Do you want to leave that? Yeah, I'll give you a brief answer to that. I think it has moved hugely in recent years, even in the last few years, people coming together and West does a nice job and has done over a long period of time of bringing people together. I think one of the two things that I would say quickly, the first is everybody understanding that we're not trying to create competitive advantage here. We're actually trying to create something that makes the whole of the industry, whichever part of it that you work in, have a longer term future and be better at what we do. And then the second one is finding the right forums to bring people together, where we can actually take action. And they are few and far between in order to get the right people around the table to make the right commitments and lead those commitments into actions. Anybody wants to add real quickly? Again, very quickly. Anything that to what Judith just said? I think for example, governments sometimes can play a bigger role. For example, we are getting very quickly to have 100% of our purchase electricity coming from renewable sources. We started two years ago from zero, now we are already almost close to 60%. And what we see sometimes as a barrier is government regulations in some countries that won't allow grids to be smart and won't allow competition with state owned power companies. And that is a big barrier for you to do something that consumers want and feel is important. Something that today is very competitive. So it's a good investment. And something that can get matrix from countries to be more diversified as opposed to be dependent only on coal or oil or hydro. Got it, so. Other questions, yes. In the context of sustainability, one generally talks about conversations around sustainable ecosystems, sustainable products and so forth. But very rarely do we hear anything about reducing our consumption. So there isn't any focus on reducing excessive consumption. So do you have any comments on that? I know it's not great for business, but in the context of larger society, should we not be thinking in those terms as well? I think if I may, this is a very, I sell alcohol beverage, I sell beverage in general, but a lot of it is beer, which is alcohol beverage. So reducing excess consumption is something that's at the heart of what we should do and we do. That's why we have problems with the United Nations, WHO. It's something, we've been in business since 1366. So since the 14th century, and we intend to be in business for another 600 years. And the only way to do this is being seen as society as part of the solution, not part of the problem. No, will that be perfect? I think no company live will be perfect. But if you're trying to combat, it's the same thing as a car. A car was done to get people from A to B. That place A to place B. But if people use cars to race in the streets, they can kill people and do lots of things that the car was not thought to be. Beer is the same thing. Beer was there to celebrate for friends together around. Some people use it in wrong ways, just like sugar, just like so many other things. So we're very, and one of the ways we do that is by reformulating products, taking alcohols slightly down and down and down in the UK. For example, it's an amazing, there's an al-scientific paper from Professor Peter Henderson saying that from everything that was tried in terms of higher prices, higher taxes, getting distribution to be curtailed, no media, what really worked in the UK has been reformulation of products, just like salt and sugar. And also offering products all the way to zero alcohol. Beer can do that. So that's the date, that's what we have in our portfolio. So it was often assumed as a choice. But you're totally right. Access consumption for us can be a huge problem because once society sees us as a problem, business only exists because societies allow them to exist. The moment you start being part of the problem, you don't exist anymore if you project some years ahead. Great question. All right, quickly. Yeah, because we're trying to wrap up here. I would like to talk about the issue of access consumption. In China, we see a very interesting market. We are a developing nation. In terms of price volatility or price stability, price stability is actually quite high. If you visit a Chinese retail site, there's always gonna be sales and promotions going on. It's impossible to do business without providing some kind of discount or promotion. But if you look at Amazon, they have very restricted days where they have sales or they have promotions. That's very different from the Chinese online retail model. In China, retailers must provide promotions. On a daily basis almost, it's impossible to do business without providing these promotions. So we understand there's an issue here. If you continue to promote or offer discounts or promotions, of course you're going to motivate people to excessively consume. Some people will buy 100 rolls of toilet paper or 100 cans of Coca-Cola. Now, of course this will boost sales for us, but in the long term, from a sustainability perspective, this is problematic because this compromises the rational consumption of consumers. People are consuming simply because it's cheaper. So providing this daily discount, it is very difficult. It is a hurdle that's very difficult in China for us to overcome. We have to attract our consumers with very attractive offers or else they won't visit our sites. But this is something we understand that we need to tackle. I'm interested to know what other developing nations, what solutions they've come up with because in China now consumerism has become the core spirit of the young generation. When I was young, I certainly did not spend beyond my means, but the current youth in China, they're absolutely spending beyond their means. But on the good side, of course this promotes national economic growth, but on the negative side, this kind of irrational consumption will bring about some negative impact on our environment, our communities. And of course, environmental protection. These are all issues that are of great concern to us. So how big the platform, how graver the responsibility? We'll probably have to do another session just on this. I think that's a fascinating response. I know there are more questions, but unfortunately, I'm out of time. So thank you for that. Thank you for raising your hand. I'm going to do one quick, you will have to keep it to 30 seconds because I will be rude and cut you off. But I want to go around the horn here and get you in 30 seconds to tell me what your key takeaway was from this session, Judith. It continues to be the power of collaboration on an end-to-end supply chain solution to some of the problems that we faced. Okay. 30 seconds. What's your key takeaway? As a platform, I hope that more upstream partners and downstream partners can work together to have a responsible, sustainable behavior. One company cannot succeed in this. Our key takeaway is that we all understand that we have to be part of the solution. We have to be where consumers are and try to do what's good for the community. Otherwise, we'll have no business in the future. Jeffrey? Technology and digital transformation going to help us to make all the problems or to be solving these sustainability problems. Okay. Zara, do you have anything to add real quickly? I don't know. Hi, everybody. My name is Zara Elysian. I'm head of Future of Consumption Platform. And just once again, I wanted to reiterate the mission of the platform, which is to advance responsible models of consumption for the benefit of business and society. We very much believe in the following principle that to succeed in a fourth industrial revolution, there will be a premium placed on innovation, willingness of organizations to disrupt themselves and collaboration. And I certainly appreciate the efforts underway to transition the various businesses, the panelists lead towards a responsible path and would like to invite all of you who are engaged in efforts to advance responsible consumption to bring your ideas to the World Economic Forum Platform and to work with us to further amplify and scale those efforts. So thank you. Thank you. Well, thank you to the panelists. Thank you to Zara. Thank you to you all. Thank you to the live stream participants. And that's the end of the session. Thank you.