 Great. Good morning everybody. My name is Nigel Topping. I was the UN climate change high-level champion for COP26 and it's a pleasure to welcome you all here as your moderator and to welcome you to a very practical conversation in a COP which is becoming increasingly practical, talking about real deployment targets and real money and real collaboration, both public and private. I think actually as a symbol of that picking up of the pace, one of the things you're going to hear about is lead IT 2.0. Lead IT was only formed four years ago and has already achieved its original mission so it's got to come up with a second mission. So we're going to hear more about that and in particular the industrial transition partnership between Sweden and India and just just one thought this lead IT collaboration led by Sweden India has really pioneered a new form of industrial international collaboration in Glasgow at the launch of the breakthrough agenda and now we'll hear more about mission innovation so that all of these international industrial collaborations which are identifying the challenges to just and equitable industrial transitions and then working together to remove the problems is a really exciting development in the overall choreography of the COP and that means sharing pathways, figuring out how to mobilise finance, public, private, a domestic and international and in particularly focusing on the both the local and the international just and equitable element local of course in terms of communities who maybe have to transition the nature of employment but internationally to make sure that technology sharing is accelerated so that the best technology is the cheapest technology everywhere in the world as quickly as possible. It's my great pleasure to introduce some introductory remarks from the ministers who very kindly agreed to join us at a very important and very busy time in the negotiations so without further ado I'd first of all like to invite Minister Romina Porto-Mocrati to the Minister for Climate and the Environment in Sweden to make smoking remarks. Minister over to you. Minister Yadav, Excellencies, dear friends, I don't need to tell this audience about the urgency to reduce greenhouse gas emissions and that we are off track to reach the agreed goals in our Paris Agreement. I think you are also aware of the opportunities that come of decarbonisation and green transition. It holds possibilities for regional development, new jobs, investments in new technology, increased efficiency and improved competitiveness. Industrial development, it is vital for the social and economic prosperity of all countries yet the lack of commercially viable low carbon technologies amongst other challenges and the long investment cycles in industrial sectors risk locking in carbon emissions for decades. It is therefore essential to foster partnerships between major industry transition frontrunners and ambitious economies that wish to align their industrial development with goals of Paris Agreement for economic prosperity. It is also in this context that lead it continues to be an important convener for governments and companies who want to lead the way. Lead it has been successful in raising the profile of the necessity of action in sectors such as steel and cement. We have shared lessons and experience that contributes to fostering partnerships, sharing information and increasing transparency through the example of the green steel and the cement trackers. The transition journey to green steel that has taken place in Sweden clearly shows that a success factor in new business models is close collaboration in the whole value chain from raw materials to the design of the final product. Earlier this week, Honourable Prime Minister Ulf Kristessan and Honourable Prime Minister Narendra Modi together launched Lead It 2.0 and a new deepened cooperation between India and Sweden through the establishment of an industry transition platform. To achieve a system change, we need rapid and scaled up actions. We need to strengthen relevant institutions and policy frameworks and work together around co-development of technology, collaboration on research on innovation and on mobilizing investments. It's also a key. And therefore, India and Sweden has selected these areas to be at the core of the industry transition platform established here at the COP28. However, this is not only a partnership between India and Sweden. It is an opportunity, an opportunity through coordinated effort to strengthen bilateral and multilateral efforts to support heavy industry reaching net zero by mid-century, which is essential for our economies to keep prospering for these industries and sectors to be relevant in the fossil-free future we are headed towards. So I invite you all today to contribute. We will take stock of the implementation of the platform at COP29 and COP30. And we count on all of you that are present here today to continue to contribute to its success moving forward for prosper economies for both India, Sweden and our sectors, as well as living up to the Paris Agreement. Thank you so much. Thank you, Minister. I mean, great joy to my heart to hear you talk about systems change and the pace and the collaboration. And now to hear that in the perspective, it's my pleasure to welcome His Excellency Bupenda Yadav, the Minister of Environment, Forest and Climate Change, Labour and Employment from India. Minister. Thank you, Minister Romana Parmukthari. Excellencies, ladies and gentlemen, it is my pleasure to welcome you at this discussion on partnership for just a equitable industry transition. I am glad to share that leadership group of industry transition has entered into its second phase with the launch of LEED IT 2.0 by Sheena Rindramodi, Honourable Prime Minister of India and Mr. Ulf Kerestersen, Honourable Prime Minister of Sweden on 1st December 2023. Thereafter, at the LEED summit yesterday, the members reinforced their commitment to the vision and mission of the LEED IT through the mission statement. During the last couple of years, marking the first phase of LEED IT, that is from 2019 to 2023, we have observed a significant shift in the global industrial landscape as industry transition climbs higher on international agenda. However, the real transition challenges of technology transfer and finance are yet to be addressed. Collaborative international mechanisms need to ensure that barriers such as intellectual property rights are addressed to facilitate technology transfer from developed to developing countries. The LEED IT 2.0 will focus on supporting low-carbon transition on the ground through a structured framework and a three pillars, first, global forum for dialogue, second, technology transfer and co-development, and third, an industry transitions platform. Through these pillars, the member will continue to support and engage in promote industry transition. India and Sweden have had long-standing relations based on common values, strong business, investment and research, and development linkages and similar approaches to meet global challenges of peace and security and development. We also shared commitment to innovation, sustainability and inclusive growth. This bond has been further strengthened through the launch of industry transition platform under LEED IT 2.0 by our leaders. The India-Sweden joint declaration on industry transition platform is not merely a partnership between two nations, it is an alliance for a sustainable future. It is a testament to our collective resolve to address the climate crisis and shape a world where industries thrive harmoniously with the environment. The India-Sweden ITP has been conceived with objective or strengthening institutional framework, unlocking conditions for technology demonstration projects, fostering innovation, research and development and capacity building and mobilization of finance and investments. It will catalyze collaboration, foster knowledge exchange, facilitate technology transfer and promote joint research and development endeavors tailored to support India's specific need in achieving a low-carbon industrial transition. It will promote innovation, empowering Indian and Swedish industries to adopt cutting-edge solutions and implement sustainable practice that boosts productivity, minimize environmental impact and generate new economic opportunities. We envisage a remarkable partnership to escalate the transition of industries toward a low-carbon resource-efficient and circular economy made. The India-Sweden ITP shall be operationalized through an industry transition action plan for the period of 2024-2026 that will be developed in consultation with key stakeholders of the targeted hard-to-arbit sectors. Friends, let us work together to harness the power of innovation, collaboration and technology to shape an industry of the future, an industry that is sustainable, resilient and inclusive, driving prosperity for generations to come. Before I conclude, I would like to express my gratitude to the Government of Sweden, especially through the Minister Romana and the lead IT Secretary for their state-first commitment to escalating industry transition to low-carbon pathways. As we embark on this transformative journey, I would like to call upon all stakeholders to join forces and contribute through their expertise and resource to the platform. Thank you very much. Thank you very much, Minister. I know the Ministers need to leave now, and I really want to thank you for this very direct evidence of your personal leadership and commitment, the fact that it's such a crucial time in the negotiations which you're so closely involved and you've taken the time out to be with us. So I think I just ask everyone to put their hands together to thank the two Ministers for their leadership whilst they leave the room. This kind of collaboration needs the strong top-down leadership from the heads of state in the agreement and from the Ministers, but it also has to be implemented in the details, and we're going to hear a lot more about the collaboration now from a great panel. I was going to ask the panel to sit up here whilst we show a video, but I noticed the chairs are in front of the screen, so I think we'll watch the video first and then ask you to come up. So this lead IT 2.0 mission has just been agreed in the last few days, and again, as an indication of the pace and the collaboration, we're going to see a video that's been put together quite quickly featuring Dalmia Cement, obviously big and very innovative Indian cement company, and Sultek's an innovative Swedish technology company. So just join me in watching the video and then we'll invite the panel up to the stage. Sultek's is a Swedish green tech company that developed an innovation for electrification and carbon separation, which can be used in emission-free cement production and quick-line production. Last month, we had the inauguration of our research centre in Hofarsch under the industrial leaping program, and now I'm at Dalmia's headquarters in Delhi and later on this week at the potential site where we will build our first pilot, a project that will explore and test the possibility to produce emission-free cement together with Dalmia. Dalmia cement is one of the lowest carbon footprint cement company, global cement world, and working towards sustainability and profitability together. With our philosophy of green and green is profitable and sustainable. Now we are embarking on how we can avoid 100% fossil fuel by various other means. One of the projects which we have taken up is Swedish company Sultek's, which will help us in exploring possibilities of replacing fossil fuel by electricity and that electricity would also be renewable electricity. This will go a long way for decarbonisation, not only of Dalmia's cement or cement sector, but industry as a whole. Great, thank you. Very quickly put together, but a really good practical example of collaboration between two industrial entities, solving a very real problem between India and Sweden. Let me ask the panellists to come up and I have Rishika Dharal, the Deputy Secretary of the Ministry of Environment, Forests and Climate Change in the Government of India. Thank you. Robert Andren, the Director General of the Swedish Energy Agency. Elfrida Anna Moore, the Head of the Department of International Climate Environment and Energy, the Austrian Ministry of Climate Action. Matilde Maynard, the Deputy Director for the Environment, Directorate and OECD Coordinator for Climate and Green Finance. Please join me on the stage. Thank you. Let me come round so I can see you all, look you all in the eye. Rishika, let me start with you. This India-Sweden industry transition partnership, although I hear you calling it platform as well, has been launched here. We've just heard by India and Sweden just a few days ago. Could you tell us how you think that strengthened industrial transition partnerships like this one can help accelerate the industrial transition in India and globally, particularly this issue of trying to make sure we don't have a sort of the developed world makes the transition now and then everybody else goes 20 years later. How do we make sure there's a global equity element to this? Thank you, Nigel, for that question. And I think this can be a good start. And before I jump into the India-Sweden partnership, I would, you know, like to give a brief, you know, speak briefly about the India-Sweden relationships. And our ministers have already highlighted the long-standard partnerships that India and Sweden have had in various areas which includes technology and innovation. And yesterday at the Leaded Summit, minister from Sweden, Ms. Parmukthari, had also highlighted one of the approaches that the government of Sweden follows is the whole-of-government approach. So I would say that there are huge commonalities between India and Sweden. And we can be very, you know, productive and effective partners in the transition of the industrial sector. And we really look forward to a very positive and meaningful cooperation through this industry transition platform. And Leaded, as you already know, that it has been active for last four years. And it has been able to raise the profile of the industry transition need at the international platform. And, you know, now when we are completing the first phase of Leaded, all of us, including the members of Leaded, has a realization that Leaded needs to be further strengthened and empowered to be able to support the transitions on the ground, which, with this, you know, thought in the mind and feedback from various stakeholders during the last couple of one year, we have conceived Leaded 2.0 in a slightly different manner, which includes three pillars where Leaded will continue to do what it has been doing in last four years. However, there will be added priority with respect to industry transition platforms going forward. And to be able to demonstrate how these ITPs can be effective and, you know, can be developed, there are two ITPs that Leaded Secretariat has supported and are, you know, you know, launched, which is India and Sweden to mention the first one. And then there is, parallely, another ITP being developed between UK and Brazil. So, these are the two pilot ITPs that we are going to work on going forward just to demonstrate how these ITPs can be effective in the transition. And we will look forward to many more of these. And even though it is called a bilateral ITP within a Northern and a Southern country, however, it will not be limited to these two players. It is going to be a multilateral platform where different stakeholders that can contribute to the transition can actually play a role. So, it is going to be a platform where innovators, financers, technology providers, industry, and, of course, the governments can get together and work on a very specific and focused project area. So, that is our, you know, way forward for Leaded 2.0. Talking about India, I would say that, you know, 70% of the built environment in India is going to come up in, you know, next couple of years till 2030. So, with this number, we can imagine the amount of demand for the cement and steel that is going to come up in the country. So, you know, it is a very pertinent moment to start these transitions so that whatever is built in next decade is actually sustainable, resilient, and also, you know, with inputs from the green products. So, it is a very opportune time for this partnership, and India is going to have humongous demand from the hard to obeyed sectors. And if we can, you know, leverage this platform and the partnership to be able to come up with technologies which are, you know, still at the nascent stage through co-development joint research, there cannot be, you know, anything better than that. So, we are very hopeful of this transition. And from the video, you can see that the industry is already very excited about it. And they have already started to engage with each other on how they can collaborate. And, you know, on this platform, I would just request all the stakeholders, specifically the financing agencies which have appetite for the investment in the industrial space to come forward and evaluate if, you know, they can be supportive of the transition platform in any of the ways. So, I'll stop here and probably come back with more on this. Thank you very much. Let me just follow up on the finance point, because I think we've seen a big opening up of the conversation around finance. There's, of course, the negotiated elements of finance which have their own dynamic and issues. But there's a much bigger picture. You know, Nick Stern, Vera Songway and Amar Bhattacharya published the second version of their paper which we commissioned last year, which lays out very clearly the total amount of finance needed in emerging markets. And in particular, yes, we need the MDBs to play a bigger role. But we also need domestic finance to immobilise. And India's got deep domestic capital markets. And also private finance. I wonder if you could say anything about how you're thinking of mobilising the whole of the finance ecosystem, not just the MDBs as part of the collaboration around the finance element. Absolutely. Nigel, I would say that you are absolutely right there. The amount of financing required for the transitions as a whole for the climate action is running into trillions of US dollars. So no one source of finance can actually be sufficient to be able to meet those level of requirements. So we need to pool in finances from all possible sources available. And India domestically has been using its, you know, government financing and through the, you know, government budget to be able to leverage and attract more private investments into the priority sectors. And under this ITP also, we look forward to, you know, following that same approach. And we will try to pool in resources from all possible sources because the investments required in the industrial space are actually, you know, on the higher side as compared to the other sectors of the economy. So we need to pool in from wherever possible. And we are open to all sources, including MDBs, the bilateral development, corporations, assistants, government financing, and also encouraging private financing into the space. So it has to be from all the sources. I must say, I think India has been one of the real pioneers in using the power of public procurement to really drive volumes up and cost down in several technology areas. Let me turn that to Robert, Robert, and the Director-General of the Swedish Energy Agency. Robert, I know that the agency has a responsibility for this kind of international collaboration. Perhaps you could just say something about how you see the agency playing a role in the ITP. Yeah, thank you. Thank you for very inspiring description of what you are doing in India. And we have been in close collaboration with India since 2009, actually, in various projects. One of those are the one we saw just on the screen before the panel. And we are working in various areas of the whole of the energy system, where there is demand also from the local communities in India, for instance. What are the challenges? So we are there. We're trying to find the private actors that can go in and with solutions, new solutions that, of course, are energy efficient or fossil-free, at best, at least. And we work with Waste to Energy. We work with the grid, the micro grids and smart grids, which are an important part of electrifying parts of India that lack electrification today, which is a question of a just transition, in a way. But I'm a big fan, and the agency is a big fan of actually being concrete, having concrete action on the ground, concrete projects that will result in something that we then can scale up, hopefully, where private actors can go in with private money and make a difference on a larger scale. So that's what we are doing. That is one part that also includes, of course, market introduction of Swedish innovative companies. India is a huge market. We also have, then, the work with Article 6 and the climate collaboration under the Paris Agreement. So those two kind of venues, export promotion and the work we need to do under the Paris Agreement, must go hand in hand. And I think that we are working hard to do that and making development perspectives and company perspectives go hand in hand. Yeah, this seems to be quite an important shift in the narrative to be talking about climate action as development action, rather than start, especially in emerging markets, rather than talking about decarbonising rapidly growing economies with big material and energy needs. Sweden does a very innovative thing. I'm thinking of the whole way that H2 green steel has been financed, for example, which is very complex but very innovative. I wonder if you could just say something about any of the concrete examples of either technology transfer or kind of finance structure, because it's not just physical technology, it seems to me. It's also like business model as a technology or finance. You can say something about concrete examples that you see of that transfer of expertise and technology so that all parts of the world can start to converge on the pace at which they transition. Yeah, and I think that what we are trying to do as well, I just have to add that, is look at the whole value chain. So fossil free steel, it's very important, but then we have to have fossil free underground mining. So what we are doing in Sweden is trying to get those huge projects going on at the same time so that you have the whole value chain being fossil free and sustainable and efficient. Now, when it comes to technology transfer and innovation, I think that what we are doing now in Sweden is that the public agencies working in the innovation area, that is us, that is our agency for innovations, that has also concrete programs within India, that we are trying to join hands here in Sweden and also with our development agency, and then have these packages, these programs including then these innovative companies and the matchmaking with the actors in India. Then you transfer knowledge, but you don't have to be there as an agency all the time because the actors themselves then find each other. So matchmaking is a very important part of our work when it comes then to find these key players to find each other. And that is the concrete thing we have is an India, Sweden innovators accelerator, which is a clear hub for innovation where we do get actors to meet and make a difference. It's interesting, one thing which Mahmood Mohiddin and the Egyptian champion and I got frustrated by last year was often hearing capital providers saying we've got lots of money, there's no projects, and then project developers saying we've got great projects, but there's no money. And we realised that in that context of connecting projects and money, but you're also talking about connecting people in the value chain that often the matchmaking infrastructure is not mature. So once you put Dalmia and Saltex together, you can run away because they're going to make magic happen. I think that point about creating that kind of market infrastructure for people to find each other is really important. Because you create a business chain and business models and then others act to see that there is profitability in this. So that's great. That's key. Thank you. Let me turn now to Elfride Anna from the Austrian Ministry of Climate Change. Elfride, as I said in the beginning, we're starting to see a kind of in some ways a more complex ecosystem of international collaboration, but that's not a bad thing because it means lots of people are working in different ways. So you're co-leading on mission innovation. Can you tell us a little bit about how the way the work of mission innovation nests in this context of these industrial transition platforms and the lead IT 2.0? Happy to do that. And thank you very much for the invitation to the Swedish pavilion here today. So I think it goes without saying that decarbonisation and sustainable transformation are key to keep the 1.5 alive and decarbonisation of the industry is a key element of it. And initiatives like lead IT, but also mission innovation and the newly launched climate club of the G20, they are very good platforms for fostering cooperation at the global level. As Austria, we are supporting as you already said, mission innovation and we are working closely there with Australia, but also other countries to catalyse the development and demonstration of cost-competitive solutions for the efficient decarbonisation of hard-to-abate sectors. And it is, from our point of view, very important to foster joint research on and also development and demonstration, which then leads to bringing down the costs and accelerating also the deployment. So we need to be agile, innovate, but also to roll out action on the ground at the same time. So we know that the industry that we hear, we are in a very competitive environment. So that's why international cooperation and cooperation at the global level are key because we need to work together not to have just competition, but also to foster the key success stories and also the key factors which are needed for decarbonising the industry. So that's why we launched at COP26 together with Australia, the Net Zero Industries mission in the context of mission innovation and we just are now implementing it. So we want to showcase demonstrators for Net Zero Industry worldwide. The mission currently convenes nine countries with a high share of hard-to-abate industrial sectors. It also delivers on strengthening the public and private corporation. We try to promote knowledge sharing and also establishing, as I already said, research, cooperation and demonstration plans. And we're really happy that Lead IT is a cooperation partner of Mission Innovation. As Austria, we are also going to launch a bilateral research call. No, I have to say Austria and Australia because we're going to do it jointly. We will launch a call for research programs which is worth 14 million, let me say, euros, not dollars. And we hope that we will have a lot of interest in this call and it would really be great if Lead IT, as a cooperation partner, you could communicate this call and then really spread the message that there is money available, as you just said, about the matchmaking and that we can really then find good projects and report back next year maybe what we've done. Great. And just any advice for Lead IT on how to make sure that technology diffusion happens fast? Oh, technology diffusion happening fast. I think what you really need, I look at Johanna. Johanna knows that I've been dealing with technology here in the negotiations for quite a long time. No, what is really important that you have regulatory frameworks established at the national level, that you have national systems of innovation which are working and this helps a lot then to attract money, to attract investments and then also to speed up the implementation and speed up the technology. That's from the breakthrough agenda. Some of the very specific action, international collaboration action items are around things like collaborating on international standards for green hydrogen and green steel, for example. Otherwise, you can end up with this fragmented market which makes it very hard to create a good example. Absolutely. And we will need work on that when it comes to green hydrogen, to CCUS, to electrification and there's a lot of work to do. Yeah, great. Thank you. Matilde, over to you now. I really want to get into this issue of domestic resource mobilisation because I understand that the OECD's clean energy finance and investment mobilisation has been talking about how to strengthen enabling conditions and I wonder if you could say, one of the things I really like about these collaborations is it's clearly not a one-way flow of collaboration. We're all learning together but one thing we do know is, and again as Stern and Songway pointed out, is that if we don't get the enabling conditions right in emerging economies then finance won't flow. So it's really interesting that you've been digging deep into this. Tell us a little bit about what do we need to do to make those enabling conditions right to attract investment? I think, I mean, clearly we need to have a multi-stakeholder approach to make sure that you put all the brains together or all the competencies together. And for example, to have a stronger governance approach for all these question of atractic finance, not only from domestic finance but as it was said, international, private, public, etc. And you need to have all the actors around the table. You need to have the national governments and the sub-national governments having a clear vision, clear strategies to kind of set the direction. You need to have of course the operational competencies and knowledge of the industrial actors around the table because at the end of the day they know what is needed, they know how to do it. And you need to have the DFI's around the table to be able to provide concession finance and then the donors that can provide direct support to the first movers somehow. So this aspect of knowledge sharing is quite important. And then of course when we speak about enabling conditions you have all the regulatory framework that needs to be in place in terms of taxonomies, definitions of green instruments, etc. This is a leading question because of the hypothesis I have that we are getting better at international collaboration government to government and including donors and MDB's. But I have a sense, I want to test this with you with what you are doing, that we are often quite late to bring the private sector actors in, both the industrialists and the providers of finance. I just wondered if that resonates with you and if so what have you seen is good practice to maybe bring all of the kind of problem-solving partners together in a timely manner? Yeah I think it's quite clear. You know that we are kind of tracking the climate finance and first it's not advancing quick enough but in addition to this kind of general evaluation clearly what we are missing is a strong mobilisation of private finance. So that's what we have been focusing on this year. We have published a specific report on how to mobilize private sector better and there are at least two key things. It's first again the enabling environment and here I mean we are working hard including on all the standards it was mentioned you know converging standards in the financial sector per se you know because where we are currently in the financial sector it's a kind of a state of confusion in terms of standards definition taxonomies if you look at also no in terms of disclosure everything is voluntary and we have a lot of different standards and there is a big work to do in terms of harmonisation convergence of standards for the disclosure etc so that's and I think we are at the time where we need regulation now for the financial sector we need regulation at least on disclosure which will trigger more action by all the actors and clear action and action that you can monitor because at the current stage it's very difficult to figure out if you take one big financial institution whether or not the money the flows is allocated to the right places so you need really a big step yeah in terms of regulation in terms of disclosure and in terms of harmonisation of standards right so we need the standards but they need to be regulated and they need to converge internationally so that's not confusion wonderful I know I know we're running out of time I just one quick thought from each of you about what the main thing and whoever goes last is going to have to not repeat the other three I want four ideas what the main thing we should focus on to improve the flow of finance to green technology especially so I don't want to talk about renewable energy and electric vehicles which are way up the S curve but these where we're much more at the first of a kind state like green steel green cement green hydrogen stainless steel what's the four ideas quick ideas about what needs to happen to see the flow of finance for those very the first of a kind or first end of a kind in the technologies that we I mean I think this point that 70% of the buildings in India yet to be built that again we really need to be decarbonising steel and cement in the countries where it's going to be deployed quickly so ideas about unlocking finance same order same order as we went the first time round thank you so much so I think you know as I mentioned finance is going to be the key for the transition that is required and in order to be able to attract that kind of financing it is very important to de-risk the investments that are happening into the space we need to have mechanisms for viability gap funding because you know I mean till the time the investments become profitable on their own the viability gap funding is the key and it can come from any sources including the government or the private so if you ask me one it should be viability gap funding and I'll not say more exhaust to me it's about engaging equipping and empowering the actors and also then of course early on take on the financial actors those that have the capital but you need to get the local perspective the local communities the local actors on board because it's on the local it happens great very practical thank you yes yeah so very brief clear regulatory frameworks clear legislation at the national and regional regional level because we need investment security and also clear political visions and targets so that everybody knows in which direction we want to go and then of course you need support and financing from the public sector but also that's three now careful sorry I leave the rest for you okay so okay if we have all of that already yes I think what would be useful is to have a knowledge sharing platforms so that you can increase the reprieve viability of you know the financing in the project and you can also you know work on scaling up investment and the instruments and also having matchmaking platforms to make like for example the what we saw in the video make them meet you know and that's what we are trying to do including in a climate club that was launched this week wonderful I love the very specific very practical and all of those ideas you can immediately see being being in there none of them are simple but they're all very clear really great I think if we and if we had all of those then we'll be going much much faster sadly that brings us to the end of the panel really really rich and varied perspectives but all really focus on this opportunity we have to accelerate the just and equitable industry transition through these kind of rich collaborations so thank you let's give a hand of applause to the panel thoughts um as I said I thought that this this observation that so much of the investment is going to happen in the um in emerging markets and that we need to get decarbonisation right all over the world at the same pace um is is um really thought provoking um that that these collaborations really um take life when they're anchored around real projects right so we're not yet we need we need the frameworks and the regulations but it's actually getting transactions done getting factories built getting technology implemented that that really helps us um that um there's a competitiveness element and a collaboration element and getting that competition collaboration balance balance right is really important um because we we do want people to compete but we also have to collaborate so finding finding the the kind of sweet swap between those two is um really valuable there is a lot of work to be done on labeling conditions whether it's setting the standards making sure that in regulation and making sure they're converging internationally and I love these just these ideas at the end that um it needs to be about deals um that we need to be engaging with the right stakeholders early enough not having one group of stakeholders defining structure and then then hoping that everyone else will be enthusiastic we know that that complicated things don't work that way um that we do need those clear frameworks and the political support um and that we need knowledge knowledge sharing what I'm noticing there's more and more that there's often the narrative is dominated by how bad things are or how little we've done and everywhere all around the world there's amazing innovation happening and we do need to do a better job of explaining what's working because that sense of excitement and even a bit of FOMO that stuff is happening capital is mobilizing competitors are competing um is one of the things that can attract a lot more attention um and just focusing on the problems so thank you so much for the panel thank you to the Swedish team for for hosting us here um and good luck with whatever you're doing for the rest of the talk thank you