{"version":"1.0.0","segments":[{"startTime":0.203,"endTime":3.273,"body":"One of the producers I've"},{"startTime":0.203,"endTime":3.273,"body":"worked with looking in at us"},{"startTime":3.293,"endTime":5.073,"body":"going hey, it's great music."},{"startTime":5.093,"endTime":6.833,"body":"It sounds like a box of puppies."},{"startTime":7.273,"endTime":12.513,"body":"And I think, I think we might be in"},{"startTime":7.273,"endTime":12.513,"body":"the box of puppies phase of putting"},{"startTime":12.513,"endTime":14.683,"body":"together the strategies for this."},{"startTime":15.197,"endTime":18.777,"body":"Good morning, good afternoon, or good"},{"startTime":15.197,"endTime":18.777,"body":"evening, wherever you are in the world."},{"startTime":19.107,"endTime":22.817,"body":"This is the Climate Confident"},{"startTime":19.107,"endTime":22.817,"body":"podcast, the number one podcast"},{"startTime":22.967,"endTime":26.737,"body":"showcasing best practices in climate"},{"startTime":22.967,"endTime":26.737,"body":"emission reductions and removals."},{"startTime":27.167,"endTime":29.107,"body":"And I'm your host, Tom Raftery."},{"startTime":29.267,"endTime":33.037,"body":"Don't forget to click follow on this"},{"startTime":29.267,"endTime":33.037,"body":"podcast in your podcast app of choice"},{"startTime":33.187,"endTime":35.547,"body":"to be sure you don't miss any episodes."},{"startTime":36.724,"endTime":37.244,"body":"Hi everyone."},{"startTime":37.254,"endTime":40.394,"body":"Welcome to a special edition of"},{"startTime":37.254,"endTime":40.394,"body":"the Climate Confident Podcast."},{"startTime":40.654,"endTime":42.734,"body":"Today's edition is sponsored by SAP."},{"startTime":43.634,"endTime":47.984,"body":"My name is Tom Raftery and with me on the"},{"startTime":43.634,"endTime":47.984,"body":"show today, I have my special guest, Jim."},{"startTime":48.414,"endTime":50.174,"body":"Jim Welcome to the podcast."},{"startTime":50.194,"endTime":51.704,"body":"Would you like to introduce yourself?"},{"startTime":53.124,"endTime":53.584,"body":"Hey, Tom."},{"startTime":53.584,"endTime":55.924,"body":"First of all, thanks so much"},{"startTime":53.584,"endTime":55.924,"body":"for having me here today."},{"startTime":55.924,"endTime":60.844,"body":"Really excited to be here, having just"},{"startTime":55.924,"endTime":60.844,"body":"come back from New York Climate Week."},{"startTime":60.844,"endTime":64.334,"body":"A lot of trends and information"},{"startTime":60.844,"endTime":64.334,"body":"to share with the audience today."},{"startTime":65.024,"endTime":69.528,"body":"My background is about 30 years in the"},{"startTime":65.024,"endTime":69.528,"body":"sustainability and climate change space."},{"startTime":69.618,"endTime":70.738,"body":"I'm currently at SAP."},{"startTime":70.738,"endTime":75.983,"body":"I've been in the startup world, been at"},{"startTime":70.738,"endTime":75.983,"body":"EPA, the government regulatory agency for"},{"startTime":75.983,"endTime":80.393,"body":"the US working on the regulatory side,"},{"startTime":75.983,"endTime":80.393,"body":"as well as voluntary programs and have"},{"startTime":80.393,"endTime":81.803,"body":"a bit of a legal background as well."},{"startTime":81.833,"endTime":84.983,"body":"So I hope to bring a well"},{"startTime":81.833,"endTime":84.983,"body":"rounded view into your podcast"},{"startTime":85.023,"endTime":85.353,"body":"today."},{"startTime":85.971,"endTime":86.471,"body":"Fantastic."},{"startTime":87.191,"endTime":92.654,"body":"For people who might be unaware"},{"startTime":87.191,"endTime":92.654,"body":"of Climate Week, the scope of"},{"startTime":92.654,"endTime":94.114,"body":"it, can you give us a quick 101?"},{"startTime":95.439,"endTime":96.199,"body":"Yeah, sure."},{"startTime":96.199,"endTime":100.753,"body":"I think this week has really been the"},{"startTime":96.199,"endTime":100.753,"body":"largest in, in history from what I'm"},{"startTime":100.753,"endTime":105.273,"body":"hearing anecdotally around that, but it's"},{"startTime":100.753,"endTime":105.273,"body":"become a bit of a offshoot from the UN"},{"startTime":105.323,"endTime":109.363,"body":"General Assembly meetings in New York"},{"startTime":105.323,"endTime":109.363,"body":"where there are a number of side events,"},{"startTime":109.373,"endTime":112.083,"body":"there's a number of activities going on."},{"startTime":112.093,"endTime":117.033,"body":"Industry is highly engaged, governments"},{"startTime":112.093,"endTime":117.033,"body":"are highly engaged, NGOs are present"},{"startTime":117.033,"endTime":121.383,"body":"as well, so it becomes an opportunity"},{"startTime":117.033,"endTime":121.383,"body":"to really build off of the UN meetings"},{"startTime":121.383,"endTime":125.073,"body":"in New York and hold a number of side"},{"startTime":121.383,"endTime":125.073,"body":"events and really an entire week of"},{"startTime":125.143,"endTime":127.963,"body":"digging into the sustainability topic."},{"startTime":128.373,"endTime":132.793,"body":"One thing that really began to trend"},{"startTime":128.373,"endTime":132.793,"body":"last year, Tom, I'm, I'm really excited"},{"startTime":132.793,"endTime":137.453,"body":"about on a personal level is seeing"},{"startTime":132.793,"endTime":137.453,"body":"climate week also morphing into kind"},{"startTime":137.453,"endTime":140.27,"body":"of the material transition as well."},{"startTime":140.27,"endTime":144.48,"body":"As you know, a circular economy"},{"startTime":140.27,"endTime":144.48,"body":"is also a highly relevant topic."},{"startTime":144.48,"endTime":148.35,"body":"And as we look overall at the"},{"startTime":144.48,"endTime":148.35,"body":"intersection between materials and"},{"startTime":148.35,"endTime":151.86,"body":"climate, one big component is the"},{"startTime":148.35,"endTime":151.86,"body":"energy transition, but another big"},{"startTime":151.87,"endTime":153.7,"body":"component is the material transition."},{"startTime":153.7,"endTime":158.08,"body":"So we're starting to see more and more"},{"startTime":153.7,"endTime":158.08,"body":"events around the hard to abate sectors,"},{"startTime":158.08,"endTime":162.563,"body":"aluminum, steel, we're starting to see"},{"startTime":158.08,"endTime":162.563,"body":"more and more events around packaging"},{"startTime":162.573,"endTime":164.663,"body":"plastics, the upcoming treaty around that."},{"startTime":164.693,"endTime":169.223,"body":"So it's really grown a bit beyond"},{"startTime":164.693,"endTime":169.223,"body":"just climate week is a, is a misnomer"},{"startTime":169.223,"endTime":172.733,"body":"into a broader set of activities"},{"startTime":169.223,"endTime":172.733,"body":"and engagements in New York."},{"startTime":173.423,"endTime":173.763,"body":"Okay."},{"startTime":173.763,"endTime":175.723,"body":"And this year's theme was \"It's time\"."},{"startTime":175.763,"endTime":176.203,"body":"Am I right?"},{"startTime":176.753,"endTime":178.933,"body":"It is, it's,"},{"startTime":179.893,"endTime":181.323,"body":"It's well past time!"},{"startTime":182.433,"endTime":183.213,"body":"Yeah, exactly."},{"startTime":183.453,"endTime":183.843,"body":"Yeah."},{"startTime":183.893,"endTime":186.933,"body":"The the best time to do something"},{"startTime":183.893,"endTime":186.933,"body":"is probably a decade or more ago."},{"startTime":186.933,"endTime":188.243,"body":"The second best time is now."},{"startTime":188.243,"endTime":190.84,"body":"So I think reasonably"},{"startTime":188.243,"endTime":190.84,"body":"appropriate  for a theme."},{"startTime":191.4,"endTime":191.74,"body":"Okay."},{"startTime":191.74,"endTime":196.07,"body":"And what were SAP or what was yourself,"},{"startTime":191.74,"endTime":196.07,"body":"you know, what, what was your role?"},{"startTime":196.08,"endTime":196.93,"body":"Why were you going?"},{"startTime":196.93,"endTime":198.04,"body":"What were you hoping to achieve?"},{"startTime":199.73,"endTime":200.88,"body":"A couple of different things."},{"startTime":200.88,"endTime":205.353,"body":"I think as I said, it was a really good"},{"startTime":200.88,"endTime":205.353,"body":"gathering of government officials, NGOs,"},{"startTime":205.393,"endTime":210.413,"body":"business, and our goal is to really"},{"startTime":205.393,"endTime":210.413,"body":"help accelerate these transitions."},{"startTime":210.423,"endTime":216.283,"body":"So we're seeing a interesting confluence"},{"startTime":210.423,"endTime":216.283,"body":"this year of additional reporting and"},{"startTime":216.283,"endTime":218.773,"body":"disclosure regulations hitting industry."},{"startTime":219.168,"endTime":223.688,"body":"So one of the goals is really to show"},{"startTime":219.168,"endTime":223.688,"body":"that the data foundations exist today"},{"startTime":223.958,"endTime":227.648,"body":"to be able to report and pull the data"},{"startTime":223.958,"endTime":227.648,"body":"together for a lot of these things."},{"startTime":227.648,"endTime":230.948,"body":"So on their face, they seem"},{"startTime":227.648,"endTime":230.948,"body":"highly complex, requiring a"},{"startTime":230.948,"endTime":232.998,"body":"lot of different data sources."},{"startTime":232.998,"endTime":236.758,"body":"But the reality is much of this data"},{"startTime":232.998,"endTime":236.758,"body":"really already exists in systems."},{"startTime":236.788,"endTime":240.228,"body":"It exists of known quality and"},{"startTime":236.788,"endTime":240.228,"body":"occasionally it's hard to pull"},{"startTime":240.228,"endTime":243.548,"body":"the data out of systems in order"},{"startTime":240.228,"endTime":243.548,"body":"to serve it up in that way."},{"startTime":243.548,"endTime":247.958,"body":"So, you know, key message is data is"},{"startTime":243.548,"endTime":247.958,"body":"generally available for these things."},{"startTime":247.958,"endTime":249.688,"body":"It can be accessed."},{"startTime":249.698,"endTime":251.778,"body":"I would say another key message."},{"startTime":251.778,"endTime":255.878,"body":"It's hard to get away from AI these"},{"startTime":251.778,"endTime":255.878,"body":"days in the hype cycle, but I'm really"},{"startTime":255.878,"endTime":260.723,"body":"looking at AI as a new colleague entering"},{"startTime":255.878,"endTime":260.723,"body":"your team and somebody that's a really"},{"startTime":260.723,"endTime":264.673,"body":"hard worker occasionally needs their"},{"startTime":260.723,"endTime":264.673,"body":"work checked and validated by by their"},{"startTime":264.673,"endTime":266.423,"body":"coworkers with a little more experience."},{"startTime":266.863,"endTime":271.373,"body":"But again, the, the goal is to get out of"},{"startTime":266.863,"endTime":271.373,"body":"the 80 percent of time people are spending"},{"startTime":271.373,"endTime":276.393,"body":"on data gathering and reporting and really"},{"startTime":271.373,"endTime":276.393,"body":"put people back to the work of how do"},{"startTime":276.393,"endTime":281.043,"body":"we look at the strategies needed to go"},{"startTime":276.393,"endTime":281.043,"body":"forward with decarbonization and some of"},{"startTime":281.043,"endTime":282.953,"body":"the material transitions we talked about."},{"startTime":282.953,"endTime":287.013,"body":"So, really just a lot of meetings"},{"startTime":282.953,"endTime":287.013,"body":"with with customers, with governments,"},{"startTime":287.023,"endTime":290.013,"body":"with NGOs around the role of"},{"startTime":287.023,"endTime":290.013,"body":"technology and how this can help"},{"startTime":290.293,"endTime":291.963,"body":"accelerate some of these transitions."},{"startTime":292.733,"endTime":293.243,"body":"Okay."},{"startTime":293.693,"endTime":298.613,"body":"And how can it help as in how is SAP"},{"startTime":293.693,"endTime":298.613,"body":"contributing to the acceleration of"},{"startTime":298.613,"endTime":302.573,"body":"climate action, you know, and how, how"},{"startTime":298.613,"endTime":302.573,"body":"is data generally doing it, especially"},{"startTime":302.573,"endTime":305.223,"body":"in areas like, you know, the new"},{"startTime":302.573,"endTime":305.223,"body":"industrial revolution and the energy"},{"startTime":305.223,"endTime":306.663,"body":"transition that you talked about already?"},{"startTime":307.878,"endTime":310.098,"body":"Yeah, I think, I think"},{"startTime":307.878,"endTime":310.098,"body":"there's two angles to that."},{"startTime":310.098,"endTime":312.308,"body":"First, we need to be a"},{"startTime":310.098,"endTime":312.308,"body":"good corporate citizen."},{"startTime":312.308,"endTime":315.868,"body":"Daniel Schmidt and our team has"},{"startTime":312.308,"endTime":315.868,"body":"done an amazing job at making sure"},{"startTime":315.868,"endTime":321.575,"body":"that the foundation of SAP as a"},{"startTime":315.868,"endTime":321.575,"body":"company is moving in this direction."},{"startTime":321.595,"endTime":325.925,"body":"So I will cite a colleague from"},{"startTime":321.595,"endTime":325.925,"body":"probably 20 years ago in this space."},{"startTime":325.935,"endTime":329.985,"body":"There's really no silver bullet"},{"startTime":325.935,"endTime":329.985,"body":"for addressing climate change, it's"},{"startTime":329.985,"endTime":333.065,"body":"more like silver buckshot and you"},{"startTime":329.985,"endTime":333.065,"body":"need to be firing a lot of these"},{"startTime":333.065,"endTime":334.775,"body":"things at the at the challenge."},{"startTime":334.775,"endTime":337.545,"body":"So it's things like lower carbon sourcing."},{"startTime":337.785,"endTime":340.775,"body":"It's things like the, you know,"},{"startTime":337.785,"endTime":340.775,"body":"dealing with data center energy."},{"startTime":340.775,"endTime":342.655,"body":"It's things like fleet operations."},{"startTime":342.885,"endTime":345.975,"body":"Travel and transport is"},{"startTime":342.885,"endTime":345.975,"body":"a big component of SAP."},{"startTime":346.335,"endTime":350.351,"body":"So we're one of the few companies"},{"startTime":346.335,"endTime":350.351,"body":"that's remained firm on our 2030"},{"startTime":350.806,"endTime":355.473,"body":"targets around climate going beyond"},{"startTime":350.806,"endTime":355.473,"body":"the science based transition pathways."},{"startTime":355.483,"endTime":358.103,"body":"So that's really one side of it."},{"startTime":358.163,"endTime":362.413,"body":"The other side of it is really how"},{"startTime":358.163,"endTime":362.413,"body":"do we help enable our customers and"},{"startTime":362.413,"endTime":364.653,"body":"help enable the world around this."},{"startTime":365.153,"endTime":372.678,"body":"So a couple of trends I've seen out"},{"startTime":365.153,"endTime":372.678,"body":"of this session is the confluence"},{"startTime":372.678,"endTime":377.368,"body":"of kind of corporate level or group"},{"startTime":372.678,"endTime":377.368,"body":"level reporting, and product level"},{"startTime":377.368,"endTime":379.688,"body":"reporting, or material level reporting."},{"startTime":379.688,"endTime":383.428,"body":"There's always been a"},{"startTime":379.688,"endTime":383.428,"body":"different granularity of data."},{"startTime":383.908,"endTime":388.618,"body":"And a lot of companies are really looking"},{"startTime":383.908,"endTime":388.618,"body":"at the group level reporting, things like"},{"startTime":388.618,"endTime":392.798,"body":"the Corporate Sustainability Reporting"},{"startTime":388.618,"endTime":392.798,"body":"Directive, the SEC Directive coming out,"},{"startTime":392.818,"endTime":397.778,"body":"many of these things, and looking at a,"},{"startTime":392.818,"endTime":397.778,"body":"you know, a vast horizontal slice of data"},{"startTime":397.818,"endTime":402.083,"body":"that they need to pull together in order"},{"startTime":397.818,"endTime":402.083,"body":"to be Compliant with the regulations."},{"startTime":402.373,"endTime":407.666,"body":"What we're also building towards is kind"},{"startTime":402.373,"endTime":407.666,"body":"of the vertical slices of that data."},{"startTime":408.246,"endTime":410.746,"body":"How do you roll data"},{"startTime":408.246,"endTime":410.746,"body":"up at a material level?"},{"startTime":410.756,"endTime":413.906,"body":"How do you roll it up at a"},{"startTime":410.756,"endTime":413.906,"body":"business activity level in order"},{"startTime":413.906,"endTime":417.486,"body":"to get a much more granular, rich"},{"startTime":413.906,"endTime":417.486,"body":"data set to be able to report at"},{"startTime":417.486,"endTime":418.786,"body":"those corporate and group levels?"},{"startTime":418.796,"endTime":425.556,"body":"So it's really moving the non financial"},{"startTime":418.796,"endTime":425.556,"body":"ESG data, more towards a financial type"},{"startTime":425.556,"endTime":429.096,"body":"reporting where you're doing it bottoms"},{"startTime":425.556,"endTime":429.096,"body":"up, you're rolling data up from that, and"},{"startTime":429.096,"endTime":432.086,"body":"then you're reporting out at the group"},{"startTime":429.096,"endTime":432.086,"body":"level based on all of the activities"},{"startTime":432.106,"endTime":434.716,"body":"going on within within the business unit."},{"startTime":434.766,"endTime":438.79,"body":"So I would say that's  kind"},{"startTime":434.766,"endTime":438.79,"body":"of a key, key message, a key"},{"startTime":438.79,"endTime":441.0,"body":"investment we've done on our side."},{"startTime":441.01,"endTime":445.88,"body":"And it really is a ERP centric"},{"startTime":441.01,"endTime":445.88,"body":"or enterprise resource centric"},{"startTime":445.92,"endTime":449.19,"body":"planning approach towards"},{"startTime":445.92,"endTime":449.19,"body":"how you get this this data."},{"startTime":449.31,"endTime":452.82,"body":"You know, to be realistic, not"},{"startTime":449.31,"endTime":452.82,"body":"all data resides in SAP systems"},{"startTime":452.87,"endTime":455.02,"body":"or not  resides in ERP systems."},{"startTime":455.06,"endTime":458.11,"body":"There's a lot of things that need"},{"startTime":455.06,"endTime":458.11,"body":"to be collected outside of that."},{"startTime":458.11,"endTime":462.84,"body":"But if you do have 60 or 70% of your"},{"startTime":458.11,"endTime":462.84,"body":"data in known quality that maps to"},{"startTime":462.84,"endTime":467.15,"body":"financials within these types of"},{"startTime":462.84,"endTime":467.15,"body":"systems, why not reuse that data and"},{"startTime":467.34,"endTime":470.67,"body":"get a really good head start in some"},{"startTime":467.34,"endTime":470.67,"body":"of these reporting requirements."},{"startTime":471.72,"endTime":474.57,"body":"Yeah, it's interesting you measure, I'm"},{"startTime":471.72,"endTime":474.57,"body":"sorry, it's interesting you mentioned"},{"startTime":474.57,"endTime":478.32,"body":"reporting requirements because I've"},{"startTime":474.57,"endTime":478.32,"body":"said on this podcast a bunch of times"},{"startTime":478.32,"endTime":483.58,"body":"that, you know, the chief sustainability"},{"startTime":478.32,"endTime":483.58,"body":"officer for organizations has very"},{"startTime":483.58,"endTime":488.21,"body":"often in the past been reporting into"},{"startTime":483.58,"endTime":488.21,"body":"the chief marketing officer, you know,"},{"startTime":488.21,"endTime":495.115,"body":"which tells its own story, but with"},{"startTime":488.21,"endTime":495.115,"body":"the increase in the rigor required from"},{"startTime":495.125,"endTime":499.555,"body":"sustainability reporting in the future"},{"startTime":495.125,"endTime":499.555,"body":"I can see that role transitioning from"},{"startTime":499.555,"endTime":501.755,"body":"the CMO to the CFO's organization."},{"startTime":502.135,"endTime":503.355,"body":"Do you think that's a fair comment?"},{"startTime":504.38,"endTime":507.44,"body":"I think it's a really fair"},{"startTime":504.38,"endTime":507.44,"body":"comment and a great observation"},{"startTime":507.45,"endTime":509.12,"body":"on where the market is going."},{"startTime":509.12,"endTime":511.57,"body":"So a number of companies"},{"startTime":509.12,"endTime":511.57,"body":"are moving into the CFO."},{"startTime":511.59,"endTime":517.065,"body":"I think we as SAP did that probably"},{"startTime":511.59,"endTime":517.065,"body":"a decade ago, and I can say the data"},{"startTime":517.065,"endTime":521.345,"body":"quality improved immensely with the"},{"startTime":517.065,"endTime":521.345,"body":"rigor of the finance organization."},{"startTime":521.365,"endTime":525.905,"body":"Looking at this, it becomes part"},{"startTime":521.365,"endTime":525.905,"body":"of that trend, Tom, in order for"},{"startTime":525.965,"endTime":529.525,"body":"the CSO to be able to take on"},{"startTime":525.965,"endTime":529.525,"body":"a lot more of the activities."},{"startTime":529.545,"endTime":530.695,"body":"What am I doing to abate?"},{"startTime":530.715,"endTime":534.995,"body":"What am I doing for strategy and"},{"startTime":530.715,"endTime":534.995,"body":"investments and not spending as much"},{"startTime":534.995,"endTime":537.285,"body":"time in the weeds of data quality?"},{"startTime":537.285,"endTime":541.975,"body":"So I would say that's a very"},{"startTime":537.285,"endTime":541.975,"body":"large trend within industry."},{"startTime":541.975,"endTime":544.375,"body":"We're also seeing it move"},{"startTime":541.975,"endTime":544.375,"body":"into risk and governance."},{"startTime":544.875,"endTime":548.265,"body":"In a number of companies, we're moving"},{"startTime":544.875,"endTime":548.265,"body":"it, seeing it moved to the CEO's"},{"startTime":548.265,"endTime":550.455,"body":"office in a number of companies."},{"startTime":550.495,"endTime":555.865,"body":"And one trend that I'm starting to see"},{"startTime":550.495,"endTime":555.865,"body":"is really looking at sustainability"},{"startTime":555.865,"endTime":558.445,"body":"as a, as a P\u0026L or a revenue driver."},{"startTime":558.445,"endTime":564.915,"body":"So we're starting to see many more CSOs"},{"startTime":558.445,"endTime":564.915,"body":"taking on kind of a P\u0026L view of how do"},{"startTime":564.915,"endTime":570.495,"body":"I show sustainability is not only in an"},{"startTime":564.915,"endTime":570.495,"body":"indirect way driving revenue and growth"},{"startTime":570.505,"endTime":574.975,"body":"for my company, but maybe in a more"},{"startTime":570.505,"endTime":574.975,"body":"direct way with actual sustainability"},{"startTime":574.975,"endTime":579.728,"body":"LOBs lines of business or actual"},{"startTime":574.975,"endTime":579.728,"body":"sustainability revenues from companies."},{"startTime":579.738,"endTime":583.438,"body":"So I think all of those trends are"},{"startTime":579.738,"endTime":583.438,"body":"moving forward in a moment from the"},{"startTime":583.438,"endTime":587.428,"body":"reporting side, certainly the CFO remains"},{"startTime":583.438,"endTime":587.428,"body":"an important stakeholder but it, it,"},{"startTime":587.478,"endTime":591.628,"body":"it remains a bit of a matrix operation"},{"startTime":587.478,"endTime":591.628,"body":"to pull all the data together and feed"},{"startTime":591.628,"endTime":595.025,"body":"it in the ways that people are able to"},{"startTime":591.628,"endTime":595.025,"body":"use it in their day to day business."},{"startTime":595.715,"endTime":596.135,"body":"Okay."},{"startTime":596.495,"endTime":598.815,"body":"And talk to me a little bit"},{"startTime":596.495,"endTime":598.815,"body":"again about Climate Week."},{"startTime":598.815,"endTime":602.635,"body":"I mean, what observations did"},{"startTime":598.815,"endTime":602.635,"body":"you make about the event or"},{"startTime":602.635,"endTime":605.505,"body":"what interesting conversations"},{"startTime":602.635,"endTime":605.505,"body":"did you have with people there?"},{"startTime":607.435,"endTime":610.43,"body":"Yeah, I, I, It's funny."},{"startTime":610.43,"endTime":614.08,"body":"I've been in this space quite a while"},{"startTime":610.43,"endTime":614.08,"body":"Tom and I I tend to be a little on"},{"startTime":614.08,"endTime":618.2,"body":"the pessimistic side of the world"},{"startTime":614.08,"endTime":618.2,"body":"of having spent 30 years and not"},{"startTime":618.21,"endTime":620.11,"body":"having quite solved the problem yet."},{"startTime":620.4,"endTime":622.77,"body":"I was, I was pretty optimistic this week."},{"startTime":622.77,"endTime":626.85,"body":"I was feeling a lot of kind of new"},{"startTime":622.77,"endTime":626.85,"body":"stories coming out, new trends."},{"startTime":627.575,"endTime":628.465,"body":"Progress on this."},{"startTime":628.475,"endTime":630.155,"body":"So let me pull one highlight."},{"startTime":630.505,"endTime":635.515,"body":"We as SAP are members in the"},{"startTime":630.505,"endTime":635.515,"body":"CEO Climate Action Alliance"},{"startTime":635.525,"endTime":637.285,"body":"with the World Economic Forum."},{"startTime":637.285,"endTime":643.165,"body":"And this is a group of 130 ish"},{"startTime":637.285,"endTime":643.165,"body":"companies that represent about"},{"startTime":643.265,"endTime":646.07,"body":"5.2 gigatons of emissions."},{"startTime":646.08,"endTime":650.156,"body":"So if added together, this would"},{"startTime":646.08,"endTime":650.156,"body":"be the third largest party  to"},{"startTime":650.156,"endTime":651.506,"body":"the climate negotiations."},{"startTime":651.506,"endTime":655.836,"body":"And based on the data from the past"},{"startTime":651.506,"endTime":655.836,"body":"three years of this commitment,"},{"startTime":655.836,"endTime":660.906,"body":"we're actually seeing a 10%"},{"startTime":655.836,"endTime":660.906,"body":"absolute reduction in emissions."},{"startTime":661.741,"endTime":665.311,"body":"And this is a robust across"},{"startTime":661.741,"endTime":665.311,"body":"company growth as well."},{"startTime":665.331,"endTime":669.311,"body":"So it's a 12% intensity reduction"},{"startTime":665.331,"endTime":669.311,"body":"from this group in addition."},{"startTime":669.311,"endTime":672.241,"body":"It's not just that we're"},{"startTime":669.311,"endTime":672.241,"body":"losing business by doing this."},{"startTime":672.261,"endTime":676.121,"body":"Companies are growing fairly"},{"startTime":672.261,"endTime":676.121,"body":"rapidly yet we're still able to"},{"startTime":676.121,"endTime":680.208,"body":"decouple the carbon emissions from"},{"startTime":676.121,"endTime":680.208,"body":"the business and revenue growth."},{"startTime":680.238,"endTime":683.328,"body":"So the numbers and the scale"},{"startTime":680.238,"endTime":683.328,"body":"of this for companies taking"},{"startTime":683.328,"endTime":684.918,"body":"on these science based targets."},{"startTime":685.278,"endTime":689.268,"body":"These types of commitments are you"},{"startTime":685.278,"endTime":689.268,"body":"know, really some positive news."},{"startTime":689.268,"endTime":692.281,"body":"And I think you know, good news"},{"startTime":689.268,"endTime":692.281,"body":"going into the, the conference"},{"startTime":692.281,"endTime":694.761,"body":"of the parties upcoming."},{"startTime":695.201,"endTime":698.841,"body":"I think to add a little temper to"},{"startTime":695.201,"endTime":698.841,"body":"that, you see a number of companies"},{"startTime":698.881,"endTime":701.711,"body":"pulling back maybe from these targets."},{"startTime":701.711,"endTime":706.151,"body":"I think AI and energy use of AI"},{"startTime":701.711,"endTime":706.151,"body":"is one topic that continually"},{"startTime":706.641,"endTime":707.811,"body":"came up on this again."},{"startTime":707.821,"endTime":710.441,"body":"My feeling on this is"},{"startTime":707.821,"endTime":710.441,"body":"a bit more optimistic."},{"startTime":710.441,"endTime":715.381,"body":"I think if we're turning AI towards"},{"startTime":710.441,"endTime":715.381,"body":"some of these hard to handle use cases,"},{"startTime":715.861,"endTime":719.641,"body":"it becomes an incredible colleague"},{"startTime":715.861,"endTime":719.641,"body":"to do a lot of the calculations"},{"startTime":719.641,"endTime":721.561,"body":"to figure these things out."},{"startTime":721.561,"endTime":725.291,"body":"So one example on our side"},{"startTime":721.561,"endTime":725.291,"body":"that's really difficult to do is"},{"startTime":725.301,"endTime":727.641,"body":"this emissions factor mapping."},{"startTime":727.641,"endTime":731.301,"body":"So not to get too nerdy in"},{"startTime":727.641,"endTime":731.301,"body":"the weeds of climate change."},{"startTime":731.321,"endTime":735.431,"body":"But if you have an activity, you know"},{"startTime":731.321,"endTime":735.431,"body":"you're making a material, in many cases,"},{"startTime":735.431,"endTime":738.961,"body":"you can measure the emissions if you're"},{"startTime":735.431,"endTime":738.961,"body":"at a large facility, but in many cases,"},{"startTime":738.961,"endTime":743.411,"body":"if you're purchasing, you know, some"},{"startTime":738.961,"endTime":743.411,"body":"cocoa beans or coffee or something, and"},{"startTime":743.411,"endTime":747.131,"body":"your supplier may not have the data, you"},{"startTime":743.411,"endTime":747.131,"body":"might want to estimate what that data is."},{"startTime":747.141,"endTime":750.751,"body":"So if you're talking about a large"},{"startTime":747.141,"endTime":750.751,"body":"enterprise, this could be hundreds and"},{"startTime":750.751,"endTime":752.441,"body":"hundreds of thousands of materials."},{"startTime":752.451,"endTime":756.551,"body":"So doing the mapping towards what the"},{"startTime":752.451,"endTime":756.551,"body":"embedded emissions might be versus the"},{"startTime":756.551,"endTime":762.631,"body":"material flows highly tedious, you know,"},{"startTime":756.551,"endTime":762.631,"body":"job for somebody to do and sit there and"},{"startTime":762.641,"endTime":764.491,"body":"do the mappings at every, every line."},{"startTime":764.521,"endTime":770.061,"body":"So this becomes a great case for AI, be"},{"startTime":764.521,"endTime":770.061,"body":"able to accelerate some of those topics."},{"startTime":770.541,"endTime":773.531,"body":"So again, messaging for this"},{"startTime":770.541,"endTime":773.531,"body":"is industry is doing a lot."},{"startTime":773.571,"endTime":778.621,"body":"Technology can help accelerate a"},{"startTime":773.571,"endTime":778.621,"body":"lot more as to what's going on."},{"startTime":778.651,"endTime":782.721,"body":"So that was one side of the"},{"startTime":778.651,"endTime":782.721,"body":"equation, the 2nd side is"},{"startTime":782.721,"endTime":785.491,"body":"really on materials transition."},{"startTime":785.491,"endTime":790.821,"body":"We're seeing a lot of focus on things"},{"startTime":785.491,"endTime":790.821,"body":"like extended producer responsibility."},{"startTime":790.821,"endTime":793.231,"body":"The downstream side of the equation."},{"startTime":793.251,"endTime":797.008,"body":"So as you're well familiar companies"},{"startTime":793.251,"endTime":797.008,"body":"have enough trouble gathering upstream"},{"startTime":797.008,"endTime":798.618,"body":"data where they know their suppliers."},{"startTime":798.618,"endTime":802.348,"body":"They know who they are and"},{"startTime":798.618,"endTime":802.348,"body":"this is a fairly heavy lift."},{"startTime":802.378,"endTime":806.838,"body":"But once the products leave your 4 walls,"},{"startTime":802.378,"endTime":806.838,"body":"how do you get data on the use phase?"},{"startTime":806.848,"endTime":810.588,"body":"How do you get data on the"},{"startTime":806.848,"endTime":810.588,"body":"materials coming back into systems?"},{"startTime":810.598,"endTime":813.758,"body":"So this was a huge area of conversation."},{"startTime":814.178,"endTime":817.798,"body":"And I would say quite a bit of"},{"startTime":814.178,"endTime":817.798,"body":"progress on looking at more of the"},{"startTime":817.878,"endTime":822.428,"body":"cradle to grave life cycle within this"},{"startTime":817.878,"endTime":822.428,"body":"as opposed to just cradle to gate."},{"startTime":822.428,"endTime":826.488,"body":"So that was a big point of conversation"},{"startTime":822.428,"endTime":826.488,"body":"is how do you, how do you really."},{"startTime":826.998,"endTime":831.068,"body":"In a scalable way, mash up the"},{"startTime":826.998,"endTime":831.068,"body":"material transitions, along with the"},{"startTime":831.468,"endTime":835.848,"body":"energy and the climate transition"},{"startTime":831.468,"endTime":835.848,"body":"and the 3rd point, I would say, which"},{"startTime":836.088,"endTime":840.218,"body":"became vitally important is the role"},{"startTime":836.088,"endTime":840.218,"body":"of standards within all of this."},{"startTime":840.218,"endTime":842.378,"body":"And I feel like the"},{"startTime":840.218,"endTime":842.378,"body":"sustainability community."},{"startTime":842.378,"endTime":843.408,"body":"It's been more of a."},{"startTime":843.713,"endTime":849.393,"body":"Why have one standard when you"},{"startTime":843.713,"endTime":849.393,"body":"can have 420 or 460 or however"},{"startTime":849.393,"endTime":851.323,"body":"many regulations we're up to now."},{"startTime":851.623,"endTime":855.383,"body":"But there was a very strong effort by"},{"startTime":851.623,"endTime":855.383,"body":"companies within the tech community"},{"startTime":855.393,"endTime":860.033,"body":"by you know, the larger consulting"},{"startTime":855.393,"endTime":860.033,"body":"organizations, the NGO communities to"},{"startTime":860.063,"endTime":864.783,"body":"really come together and talk about how"},{"startTime":860.063,"endTime":864.783,"body":"we can standardize the data exchange."},{"startTime":864.833,"endTime":868.423,"body":"If we get this wrong there's no way"},{"startTime":864.833,"endTime":868.423,"body":"to really put Humpty back together."},{"startTime":868.423,"endTime":871.963,"body":"If we can agree on the way we're"},{"startTime":868.423,"endTime":871.963,"body":"standardizing data it becomes"},{"startTime":871.963,"endTime":874.083,"body":"really a accelerator and enabler."},{"startTime":874.083,"endTime":877.583,"body":"And it's, it's something a lot of the"},{"startTime":874.083,"endTime":877.583,"body":"tech companies have put on the table"},{"startTime":877.583,"endTime":879.203,"body":"and have been spending a lot of time on."},{"startTime":879.203,"endTime":884.068,"body":"So one concrete example of that is"},{"startTime":879.203,"endTime":884.068,"body":"the PACT work with the World Business"},{"startTime":884.068,"endTime":885.838,"body":"Council on Sustainable Development."},{"startTime":885.838,"endTime":889.268,"body":"This has been an investment for a"},{"startTime":885.838,"endTime":889.268,"body":"number of years, and we now have a"},{"startTime":889.278,"endTime":893.828,"body":"standardized protocol where companies"},{"startTime":889.278,"endTime":893.828,"body":"can exchange carbon footprint"},{"startTime":893.838,"endTime":896.248,"body":"data among the supply chains."},{"startTime":896.298,"endTime":900.548,"body":"So, you know, initiatives like"},{"startTime":896.298,"endTime":900.548,"body":"this really give me a lot of hope."},{"startTime":900.558,"endTime":905.108,"body":"And there were a number of conversations,"},{"startTime":900.558,"endTime":905.108,"body":"how this can be then extended into"},{"startTime":905.108,"endTime":907.268,"body":"certain geographies, industry sectors."},{"startTime":907.278,"endTime":912.418,"body":"So, you know, Catena X is kind of an"},{"startTime":907.278,"endTime":912.418,"body":"automotive industry standard, they're"},{"startTime":912.418,"endTime":915.738,"body":"looking at aligning with PACT you"},{"startTime":912.418,"endTime":915.738,"body":"then have Together for Sustainability"},{"startTime":915.738,"endTime":917.058,"body":"within the chemical industry."},{"startTime":917.058,"endTime":919.928,"body":"And oh, by the way, the chemical"},{"startTime":917.058,"endTime":919.928,"body":"industry is a huge supplier"},{"startTime":919.928,"endTime":921.278,"body":"to the automotive industry."},{"startTime":921.628,"endTime":925.998,"body":"You have RMI working on the aluminum"},{"startTime":921.628,"endTime":925.998,"body":"and steel sector by the way, also a huge"},{"startTime":925.998,"endTime":927.588,"body":"supplier to the automotive industry."},{"startTime":927.618,"endTime":931.678,"body":"So I'm, I'm feeling a little positive"},{"startTime":927.618,"endTime":931.678,"body":"about the standard side of the house"},{"startTime":931.718,"endTime":934.888,"body":"coalescing and coming together around"},{"startTime":931.718,"endTime":934.888,"body":"some of these initiatives as well."},{"startTime":934.928,"endTime":938.838,"body":"So those are kind of the big"},{"startTime":934.928,"endTime":938.838,"body":"three takeaways that are giving"},{"startTime":938.838,"endTime":940.448,"body":"me some hope and optimism for"},{"startTime":940.448,"endTime":940.818,"body":"this year."},{"startTime":941.398,"endTime":946.578,"body":"Great, great, and on the technology"},{"startTime":941.398,"endTime":946.578,"body":"helping front, I saw a story last"},{"startTime":946.578,"endTime":950.818,"body":"week I  think it  was from Google"},{"startTime":946.578,"endTime":950.818,"body":"where their DeepMind organization have"},{"startTime":950.818,"endTime":953.131,"body":"released I think it is called AlphaChip."},{"startTime":953.791,"endTime":957.151,"body":"So this is an AI that can design AI"},{"startTime":953.791,"endTime":957.151,"body":"chips, and so  you're going  to see"},{"startTime":957.391,"endTime":964.681,"body":"a beautiful virtuous circle there"},{"startTime":957.391,"endTime":964.681,"body":"as the AI designs more and more"},{"startTime":964.691,"endTime":967.821,"body":"efficient and more powerful AI chips."},{"startTime":968.061,"endTime":971.211,"body":"They'll then be used in the next"},{"startTime":968.061,"endTime":971.211,"body":"iteration to design the next"},{"startTime":971.231,"endTime":973.371,"body":"AI chips and so on and so on."},{"startTime":973.371,"endTime":978.781,"body":"So the, the, and we've seen how these"},{"startTime":973.371,"endTime":978.781,"body":"things kind of grow exponentially."},{"startTime":979.191,"endTime":985.186,"body":"So I got to think that the, the AI"},{"startTime":979.191,"endTime":985.186,"body":"power consumption and the compute"},{"startTime":985.236,"endTime":989.396,"body":"power is just going to go up and to"},{"startTime":985.236,"endTime":989.396,"body":"the right really, really quickly."},{"startTime":989.746,"endTime":992.966,"body":"But apart from that, we'll,"},{"startTime":989.746,"endTime":992.966,"body":"we'll shelve that for a second."},{"startTime":993.806,"endTime":998.256,"body":"Did you get any action items"},{"startTime":993.806,"endTime":998.256,"body":"coming out of the climate week?"},{"startTime":1000.481,"endTime":1002.781,"body":"Yeah, I think a couple of things."},{"startTime":1002.791,"endTime":1008.041,"body":"So one, I think, completely"},{"startTime":1002.791,"endTime":1008.041,"body":"relates to your AI story, Tom."},{"startTime":1035.481,"endTime":1039.681,"body":"I think one of the things that has come"},{"startTime":1035.481,"endTime":1039.681,"body":"out of a lot of these conversations"},{"startTime":1039.681,"endTime":1043.021,"body":"is people say, Hey, we've taken"},{"startTime":1039.681,"endTime":1043.021,"body":"on a science based commitment."},{"startTime":1043.031,"endTime":1045.611,"body":"We've plucked all of our low"},{"startTime":1043.031,"endTime":1045.611,"body":"hanging fruit and now things"},{"startTime":1045.611,"endTime":1047.121,"body":"are getting really, really hard."},{"startTime":1047.581,"endTime":1053.111,"body":"And one of kind of my comments, action"},{"startTime":1047.581,"endTime":1053.111,"body":"items is I, I, the term low hanging"},{"startTime":1053.111,"endTime":1057.261,"body":"fruit is more like a bamboo forest in"},{"startTime":1053.111,"endTime":1057.261,"body":"this space, it grows back very, very"},{"startTime":1057.271,"endTime":1062.271,"body":"rapidly, occasionally takes over your"},{"startTime":1057.271,"endTime":1062.271,"body":"yard and with things like AI taking a"},{"startTime":1062.271,"endTime":1066.7910000000002,"body":"look at the day to day opportunities"},{"startTime":1062.271,"endTime":1066.7910000000002,"body":"I think the low hanging fruit will,"},{"startTime":1066.8210000000001,"endTime":1069.566,"body":"will continue  rise in abundance."},{"startTime":1069.606,"endTime":1072.536,"body":"So that's not to say there are"},{"startTime":1069.606,"endTime":1072.536,"body":"not some very hard investments and"},{"startTime":1072.566,"endTime":1076.486,"body":"very hard decisions that need to"},{"startTime":1072.566,"endTime":1076.486,"body":"be made, you know, but there are"},{"startTime":1076.486,"endTime":1082.046,"body":"typically 30 to 40% of options, which"},{"startTime":1076.486,"endTime":1082.046,"body":"are completely no regret options."},{"startTime":1082.056,"endTime":1085.6760000000002,"body":"So again, our role as a technology"},{"startTime":1082.056,"endTime":1085.6760000000002,"body":"company, our takeaway is how do we"},{"startTime":1086.0610000000001,"endTime":1090.631,"body":"continuously create that virtuous cycle"},{"startTime":1086.0610000000001,"endTime":1090.631,"body":"so that these options continue to build."},{"startTime":1090.631,"endTime":1094.8010000000002,"body":"They continue to grow back huge"},{"startTime":1090.631,"endTime":1094.8010000000002,"body":"opportunity on the demand side."},{"startTime":1094.8110000000001,"endTime":1097.891,"body":"One of the programs we"},{"startTime":1094.8110000000001,"endTime":1097.891,"body":"ran at EPA is Energy Star."},{"startTime":1097.891,"endTime":1100.881,"body":"You may be familiar with it, with"},{"startTime":1097.891,"endTime":1100.881,"body":"you know, ways of measuring the"},{"startTime":1100.891,"endTime":1103.171,"body":"energy within you know, products."},{"startTime":1103.171,"endTime":1104.441,"body":"It started with laptops."},{"startTime":1104.441,"endTime":1108.671,"body":"It's since moved on to all appliances,"},{"startTime":1104.441,"endTime":1108.671,"body":"to buildings, even to large structures"},{"startTime":1108.691,"endTime":1112.371,"body":"and, you know, really the benefit"},{"startTime":1108.691,"endTime":1112.371,"body":"of this is if you look at the demand"},{"startTime":1112.371,"endTime":1116.741,"body":"side reduction, given the state of"},{"startTime":1112.371,"endTime":1116.741,"body":"our grids and generation, it tends to"},{"startTime":1116.741,"endTime":1122.141,"body":"be sexier, maybe to invest in a new"},{"startTime":1116.741,"endTime":1122.141,"body":"hydrogen plant or a new wind farm."},{"startTime":1122.151,"endTime":1124.281,"body":"You know, it's a shovel ready project."},{"startTime":1124.281,"endTime":1130.021,"body":"You can see what you've invested in, but"},{"startTime":1124.281,"endTime":1130.021,"body":"reducing the demand side leads to about"},{"startTime":1130.021,"endTime":1135.875,"body":"a 2.5 X benefit of reducing emissions"},{"startTime":1130.021,"endTime":1135.875,"body":"on the supply side, given the the way"},{"startTime":1135.875,"endTime":1138.045,"body":"that energy flows and all of this."},{"startTime":1138.055,"endTime":1142.7150000000001,"body":"So I think again, huge actions to take"},{"startTime":1138.055,"endTime":1142.7150000000001,"body":"on the demand side, huge actions to"},{"startTime":1142.7150000000001,"endTime":1147.4850000000001,"body":"take within the business of continuing"},{"startTime":1142.7150000000001,"endTime":1147.4850000000001,"body":"to innovate in these continuous"},{"startTime":1147.4850000000001,"endTime":1151.915,"body":"cycles of how to continuously improve"},{"startTime":1147.4850000000001,"endTime":1151.915,"body":"a lot of the actions we're taking."},{"startTime":1151.9450000000002,"endTime":1154.505,"body":"And then my big takeaway in the"},{"startTime":1151.9450000000002,"endTime":1154.505,"body":"action item is really around"},{"startTime":1154.505,"endTime":1155.7050000000002,"body":"the standards side of things."},{"startTime":1155.785,"endTime":1160.035,"body":"We have a window of opportunity to get"},{"startTime":1155.785,"endTime":1160.035,"body":"a number of disparate groups together"},{"startTime":1160.035,"endTime":1164.635,"body":"to agree that on the data models"},{"startTime":1160.035,"endTime":1164.635,"body":"on the way that data is exchanged."},{"startTime":1164.635,"endTime":1168.775,"body":"And if we get this right, it will have a"},{"startTime":1164.635,"endTime":1168.775,"body":"huge amplification effect in the market."},{"startTime":1168.775,"endTime":1172.895,"body":"So those are those are some of the"},{"startTime":1168.775,"endTime":1172.895,"body":"homework items coming coming back with us."},{"startTime":1173.505,"endTime":1174.2450000000001,"body":"Cool, cool."},{"startTime":1174.275,"endTime":1177.2450000000001,"body":"And, you know, you mentioned"},{"startTime":1174.275,"endTime":1177.2450000000001,"body":"that you've been in the space"},{"startTime":1177.255,"endTime":1178.825,"body":"for a number of decades now."},{"startTime":1179.105,"endTime":1183.505,"body":"How have you seen the conversation"},{"startTime":1179.105,"endTime":1183.505,"body":"around climate change evolve"},{"startTime":1183.535,"endTime":1184.535,"body":"in the corporate world?"},{"startTime":1185.7450000000001,"endTime":1190.185,"body":"I would say this is a bittersweet"},{"startTime":1185.7450000000001,"endTime":1190.185,"body":"observation, but, you know, 20 years ago,"},{"startTime":1190.185,"endTime":1194.7150000000001,"body":"we had the predictive models of what the"},{"startTime":1190.185,"endTime":1194.7150000000001,"body":"damages from climate change would be, what"},{"startTime":1195.125,"endTime":1197.295,"body":"some of the implications for industry are."},{"startTime":1197.295,"endTime":1202.545,"body":"And what we're now seeing is, you know,"},{"startTime":1197.295,"endTime":1202.545,"body":"this coming to life on a on a daily basis."},{"startTime":1202.585,"endTime":1205.615,"body":"You know, there are now a lot"},{"startTime":1202.585,"endTime":1205.615,"body":"more proof points than there"},{"startTime":1205.615,"endTime":1208.155,"body":"were 20 years ago on this."},{"startTime":1208.155,"endTime":1213.335,"body":"And you're starting to see industries"},{"startTime":1208.155,"endTime":1213.335,"body":"react with a risk to physical assets."},{"startTime":1213.355,"endTime":1217.4550000000002,"body":"You know, the, the hundred year storm"},{"startTime":1213.355,"endTime":1217.4550000000002,"body":"is now happening every year or two."},{"startTime":1217.775,"endTime":1222.055,"body":"So it's, I think, you know, what's"},{"startTime":1217.775,"endTime":1222.055,"body":"changed is it's moved from, you"},{"startTime":1222.055,"endTime":1225.755,"body":"know, more of a theoretical and"},{"startTime":1222.055,"endTime":1225.755,"body":"modeling perspective to a happening"},{"startTime":1225.755,"endTime":1227.4650000000001,"body":"every day in the world perspective."},{"startTime":1227.4650000000001,"endTime":1229.2050000000002,"body":"And you know, you get the sense of."},{"startTime":1229.765,"endTime":1233.565,"body":"talking to various sectors, the grape"},{"startTime":1229.765,"endTime":1233.565,"body":"growers in France and there will"},{"startTime":1233.565,"endTime":1235.085,"body":"be winners and losers around this."},{"startTime":1235.085,"endTime":1238.825,"body":"So I think you know, that's one trend"},{"startTime":1235.085,"endTime":1238.825,"body":"I've seen is it's become a lot more real."},{"startTime":1239.501,"endTime":1243.3010000000002,"body":"Another trend is that this"},{"startTime":1239.501,"endTime":1243.3010000000002,"body":"risk is now being recognized by"},{"startTime":1243.3010000000002,"endTime":1245.931,"body":"the financial markets as well."},{"startTime":1245.941,"endTime":1249.991,"body":"So you're seeing the investors and"},{"startTime":1245.941,"endTime":1249.991,"body":"others beginning to have a stronger"},{"startTime":1249.991,"endTime":1251.8110000000001,"body":"role in asking about this risk."},{"startTime":1251.8110000000001,"endTime":1256.491,"body":"And this is where the SEC, where the"},{"startTime":1251.8110000000001,"endTime":1256.491,"body":"CSRD, the, you know, various regulations"},{"startTime":1256.491,"endTime":1260.721,"body":"of disclosure are coming in where"},{"startTime":1256.491,"endTime":1260.721,"body":"people want a more comprehensive view"},{"startTime":1260.8010000000002,"endTime":1264.5410000000002,"body":"of this risk for companies to disclose."},{"startTime":1264.5610000000001,"endTime":1267.741,"body":"And again, I think, you know,"},{"startTime":1264.5610000000001,"endTime":1267.741,"body":"number two ties back to number one."},{"startTime":1267.741,"endTime":1272.481,"body":"If we don't have consistent standards,"},{"startTime":1267.741,"endTime":1272.481,"body":"especially around the boundary conditions"},{"startTime":1272.721,"endTime":1276.901,"body":"where people are reporting you, you"},{"startTime":1272.721,"endTime":1276.901,"body":"don't really get like to like, data."},{"startTime":1276.911,"endTime":1281.451,"body":"So again, a huge role in standardization"},{"startTime":1276.911,"endTime":1281.451,"body":"to make sure the data becomes comparable,"},{"startTime":1281.701,"endTime":1285.741,"body":"usable for investors around that."},{"startTime":1285.861,"endTime":1289.891,"body":"And the third thing I would say, and"},{"startTime":1285.861,"endTime":1289.891,"body":"this is something technology can really"},{"startTime":1289.891,"endTime":1294.991,"body":"enable, is it did take a lot of time"},{"startTime":1289.891,"endTime":1294.991,"body":"and energy to pull the data together."},{"startTime":1294.991,"endTime":1299.7910000000002,"body":"It was in disparate sources and a"},{"startTime":1294.991,"endTime":1299.7910000000002,"body":"best practice 20 years ago or 10"},{"startTime":1299.8010000000002,"endTime":1304.371,"body":"years ago was you know, we close our"},{"startTime":1299.8010000000002,"endTime":1304.371,"body":"books in January, maybe, or March,"},{"startTime":1304.371,"endTime":1305.861,"body":"depending on your fiscal year."},{"startTime":1306.141,"endTime":1309.5610000000001,"body":"We take a six month cycle to go look"},{"startTime":1306.141,"endTime":1309.5610000000001,"body":"at the data, collect everything,"},{"startTime":1309.5610000000001,"endTime":1313.141,"body":"and, you know, maybe nine months or"},{"startTime":1309.5610000000001,"endTime":1313.141,"body":"a year later, we publish a backwards"},{"startTime":1313.211,"endTime":1317.281,"body":"looking review mirror report on how"},{"startTime":1313.211,"endTime":1317.281,"body":"we did and then we turn our attention"},{"startTime":1317.281,"endTime":1318.971,"body":"to the data collection cycle again."},{"startTime":1319.3010000000002,"endTime":1323.421,"body":"So I think one of the huge trends"},{"startTime":1319.3010000000002,"endTime":1323.421,"body":"I've seen is more of a predictive,"},{"startTime":1323.471,"endTime":1327.346,"body":"forward looking view into the"},{"startTime":1323.471,"endTime":1327.346,"body":"drivers of these data cycles."},{"startTime":1327.376,"endTime":1328.806,"body":"What's causing the emissions?"},{"startTime":1328.806,"endTime":1331.366,"body":"What are the levers we"},{"startTime":1328.806,"endTime":1331.366,"body":"can pull in advance?"},{"startTime":1331.366,"endTime":1335.546,"body":"And this is one of the big kind of"},{"startTime":1331.366,"endTime":1335.546,"body":"bets or investments we've made at SAP."},{"startTime":1336.4360000000001,"endTime":1340.366,"body":"It should not necessarily be the"},{"startTime":1336.4360000000001,"endTime":1340.366,"body":"CSO that needs to take a rearward"},{"startTime":1340.376,"endTime":1344.4160000000002,"body":"looking view into the data and decide"},{"startTime":1340.376,"endTime":1344.4160000000002,"body":"on direction and what you should do."},{"startTime":1344.4360000000001,"endTime":1346.1960000000001,"body":"But how do you push that data?"},{"startTime":1346.626,"endTime":1347.9660000000001,"body":"Not in a real time basis."},{"startTime":1347.9660000000001,"endTime":1348.756,"body":"That's expensive."},{"startTime":1348.756,"endTime":1349.1960000000001,"body":"It's hard."},{"startTime":1349.1960000000001,"endTime":1351.7060000000001,"body":"It might not be needed for all"},{"startTime":1349.1960000000001,"endTime":1351.7060000000001,"body":"things, but maybe on a monthly"},{"startTime":1351.7060000000001,"endTime":1356.296,"body":"basis, or a more forward looking"},{"startTime":1351.7060000000001,"endTime":1356.296,"body":"basis to the office of the CFO."},{"startTime":1356.626,"endTime":1359.736,"body":"They don't know what a scope three"},{"startTime":1356.626,"endTime":1359.736,"body":"is necessarily or a scope two"},{"startTime":1359.736,"endTime":1361.1960000000001,"body":"or any of these technical terms."},{"startTime":1361.1960000000001,"endTime":1364.9260000000002,"body":"They know you know, what a profit"},{"startTime":1361.1960000000001,"endTime":1364.9260000000002,"body":"center, what a cost center you know,"},{"startTime":1365.236,"endTime":1366.876,"body":"what the business is set up like."},{"startTime":1366.876,"endTime":1371.056,"body":"So how do you serve the sustainability"},{"startTime":1366.876,"endTime":1371.056,"body":"data starting with carbon in a"},{"startTime":1371.056,"endTime":1372.9260000000002,"body":"format that that they understand."},{"startTime":1372.9360000000001,"endTime":1375.816,"body":"So this is really our"},{"startTime":1372.9360000000001,"endTime":1375.816,"body":"initiative around Green Ledger."},{"startTime":1375.826,"endTime":1379.511,"body":"How do you put carbon data in"},{"startTime":1375.826,"endTime":1379.511,"body":"the form of a financial ledger."},{"startTime":1379.761,"endTime":1383.941,"body":"But we, you know, it, it looks the same"},{"startTime":1379.761,"endTime":1383.941,"body":"way with any other line of business"},{"startTime":1383.951,"endTime":1387.191,"body":"for procurement spend control tower,"},{"startTime":1383.951,"endTime":1387.191,"body":"how do you serve up carbon data"},{"startTime":1387.191,"endTime":1390.731,"body":"in a way that you can do category"},{"startTime":1387.191,"endTime":1390.731,"body":"management as a chief procurement"},{"startTime":1390.741,"endTime":1393.0710000000001,"body":"officer, as a chief operations officer?"},{"startTime":1393.0710000000001,"endTime":1396.991,"body":"How does it tie to integrated business"},{"startTime":1393.0710000000001,"endTime":1396.991,"body":"planning in many of these topics where"},{"startTime":1396.991,"endTime":1401.031,"body":"you can begin to use the carbon cycles"},{"startTime":1396.991,"endTime":1401.031,"body":"to take a forward look at how you're"},{"startTime":1401.056,"endTime":1404.7160000000001,"body":"operating,  which production lines"},{"startTime":1401.056,"endTime":1404.7160000000001,"body":"and a final one, which is a pretty"},{"startTime":1404.7160000000001,"endTime":1410.026,"body":"simple example, but comes out of the"},{"startTime":1404.7160000000001,"endTime":1410.026,"body":"packaging world is people are making"},{"startTime":1410.026,"endTime":1414.646,"body":"design decisions, procurement decisions"},{"startTime":1410.026,"endTime":1414.646,"body":"without an understanding of where the"},{"startTime":1414.646,"endTime":1416.596,"body":"final product and material is going."},{"startTime":1416.606,"endTime":1421.6660000000002,"body":"And if it goes into a country like the UK"},{"startTime":1416.606,"endTime":1421.6660000000002,"body":"with a plastic tax, if you don't have 30%"},{"startTime":1421.6660000000002,"endTime":1424.276,"body":"recycled content, you're triggering a tax."},{"startTime":1424.286,"endTime":1429.376,"body":"So how do we bring the downstream"},{"startTime":1424.286,"endTime":1429.376,"body":"life cycle, actual costs as well as"},{"startTime":1429.376,"endTime":1433.276,"body":"carbon and the other pieces at the"},{"startTime":1429.376,"endTime":1433.276,"body":"design phase at the procurement phase."},{"startTime":1433.286,"endTime":1435.7160000000001,"body":"So people have a very good"},{"startTime":1433.286,"endTime":1435.7160000000001,"body":"idea of the decisions that"},{"startTime":1435.7160000000001,"endTime":1436.7060000000001,"body":"they're that they're making."},{"startTime":1437.4660000000001,"endTime":1440.2060000000001,"body":"You mentioned grapes there and winemaking."},{"startTime":1440.226,"endTime":1444.336,"body":"I was listening to a conversation"},{"startTime":1440.226,"endTime":1444.336,"body":"last week where the guy was saying"},{"startTime":1444.346,"endTime":1449.4460000000001,"body":"that the grape growers in France"},{"startTime":1444.346,"endTime":1449.4460000000001,"body":"very often have records of their"},{"startTime":1449.4560000000001,"endTime":1451.9560000000001,"body":"harvest going back hundreds of years."},{"startTime":1452.366,"endTime":1456.856,"body":"And so in this one particular vineyard"},{"startTime":1452.366,"endTime":1456.856,"body":"he was at, they could see that the grapes"},{"startTime":1456.856,"endTime":1461.9460000000001,"body":"were harvested typically end of September,"},{"startTime":1456.856,"endTime":1461.9460000000001,"body":"start of October, a couple of hundred"},{"startTime":1461.9460000000001,"endTime":1467.9360000000001,"body":"years ago, and it's been gradually moving"},{"startTime":1461.9460000000001,"endTime":1467.9360000000001,"body":"closer and closer, and now it's typically"},{"startTime":1468.046,"endTime":1471.6860000000001,"body":"end of August, start of September,"},{"startTime":1468.046,"endTime":1471.6860000000001,"body":"just due to the changing climate."},{"startTime":1471.6860000000001,"endTime":1475.906,"body":"It's, it's, and it's not just"},{"startTime":1471.6860000000001,"endTime":1475.906,"body":"grapes, it's, it's all crops and"},{"startTime":1475.9160000000002,"endTime":1480.236,"body":"all animals migrating as well into"},{"startTime":1475.9160000000002,"endTime":1480.236,"body":"kind of cooler climes or climes"},{"startTime":1480.236,"endTime":1481.496,"body":"that they're more associated with."},{"startTime":1481.496,"endTime":1487.326,"body":"It's, it's, it's and, We saw Hurricane"},{"startTime":1481.496,"endTime":1487.326,"body":"Helene last week, you know, blow out a"},{"startTime":1487.326,"endTime":1489.526,"body":"lot of the, the, the Southeast of the Us."},{"startTime":1489.546,"endTime":1491.836,"body":"It's, it's crazy stuff that's"},{"startTime":1489.546,"endTime":1491.836,"body":"going on and not just there."},{"startTime":1491.836,"endTime":1495.9560000000001,"body":"I mean, we saw floods in Southeast"},{"startTime":1491.836,"endTime":1495.9560000000001,"body":"Asia as well and in Central Europe"},{"startTime":1496.046,"endTime":1500.016,"body":"and yeah, not, not fun times."},{"startTime":1500.016,"endTime":1502.4260000000002,"body":"As you said, this was all predicted"},{"startTime":1500.016,"endTime":1502.4260000000002,"body":"20 years and more years ago."},{"startTime":1504.089,"endTime":1508.019,"body":"Yeah, and one other concrete example"},{"startTime":1504.089,"endTime":1508.019,"body":"I I tend to love and I came to the"},{"startTime":1508.019,"endTime":1511.259,"body":"sustainability space from my love"},{"startTime":1508.019,"endTime":1511.259,"body":"of spending time in the mountains."},{"startTime":1511.699,"endTime":1516.614,"body":"I grew up in upstate New York, spent"},{"startTime":1511.699,"endTime":1516.614,"body":"my formative years skiing white face."},{"startTime":1516.614,"endTime":1521.084,"body":"And you know, when I get to Europe now"},{"startTime":1516.614,"endTime":1521.084,"body":"we'll tend to go do tours and I've become"},{"startTime":1521.084,"endTime":1524.7440000000001,"body":"good friends with a number of the guides"},{"startTime":1521.084,"endTime":1524.7440000000001,"body":"out there and they have the same type"},{"startTime":1524.7440000000001,"endTime":1529.2240000000002,"body":"of records for the glacier movements and"},{"startTime":1524.7440000000001,"endTime":1529.2240000000002,"body":"the ski seasons and all of these things."},{"startTime":1529.2240000000002,"endTime":1534.085,"body":"And, you know, over a year to year basis,"},{"startTime":1529.2240000000002,"endTime":1534.085,"body":"it's tough to get some data separation"},{"startTime":1534.085,"endTime":1537.095,"body":"from the noise, but over, you know,"},{"startTime":1534.085,"endTime":1537.095,"body":"two generations of guiding, you've"},{"startTime":1537.115,"endTime":1540.625,"body":"got records of what year the season"},{"startTime":1537.115,"endTime":1540.625,"body":"opens, what year the season closes."},{"startTime":1540.9850000000001,"endTime":1543.9650000000001,"body":"When to pull your mountain bike"},{"startTime":1540.9850000000001,"endTime":1543.9650000000001,"body":"out instead of your skis and skins."},{"startTime":1543.9650000000001,"endTime":1547.848,"body":"And it's you know, it's pretty"},{"startTime":1543.9650000000001,"endTime":1547.848,"body":"amazing to look at the changes over"},{"startTime":1547.848,"endTime":1549.4080000000001,"body":"even, you know, a human lifetime."},{"startTime":1551.028,"endTime":1551.6280000000002,"body":"yeah, yeah."},{"startTime":1553.1480000000001,"endTime":1557.6380000000001,"body":"Climate Week emphasizes the need"},{"startTime":1553.1480000000001,"endTime":1557.6380000000001,"body":"to triple renewable energy capacity"},{"startTime":1557.6380000000001,"endTime":1559.688,"body":"and double energy efficiency."},{"startTime":1560.3980000000001,"endTime":1563.528,"body":"How realistic do you think"},{"startTime":1560.3980000000001,"endTime":1563.528,"body":"those goals are and what steps"},{"startTime":1563.558,"endTime":1564.6580000000001,"body":"should we take to achieve them?"},{"startTime":1566.6180000000002,"endTime":1570.558,"body":"Ah, start, start with a easy"},{"startTime":1566.6180000000002,"endTime":1570.558,"body":"question here, why don't you, I"},{"startTime":1570.568,"endTime":1576.8410000000001,"body":"think there are different strategies"},{"startTime":1570.568,"endTime":1576.8410000000001,"body":"on either side of the equation."},{"startTime":1576.851,"endTime":1580.131,"body":"I'm a strong, let me start with the"},{"startTime":1576.851,"endTime":1580.131,"body":"demand side first, cause I'm a strong"},{"startTime":1580.131,"endTime":1583.8010000000002,"body":"believer that these are low hanging"},{"startTime":1580.131,"endTime":1583.8010000000002,"body":"fruit, there's a lot of opportunity."},{"startTime":1584.141,"endTime":1588.5710000000001,"body":"And it becomes an information you know,"},{"startTime":1584.141,"endTime":1588.5710000000001,"body":"kind of sharing information distribution"},{"startTime":1588.5710000000001,"endTime":1590.641,"body":"issue to make a better decision."},{"startTime":1590.661,"endTime":1596.361,"body":"So I'm highly optimistic on this one"},{"startTime":1590.661,"endTime":1596.361,"body":"because it's cost beneficial and it really"},{"startTime":1596.361,"endTime":1601.461,"body":"takes intervention on the information side"},{"startTime":1596.361,"endTime":1601.461,"body":"as opposed to the new technology side."},{"startTime":1601.501,"endTime":1604.151,"body":"New technologies, of course,"},{"startTime":1601.501,"endTime":1604.151,"body":"help accelerate all of this."},{"startTime":1604.181,"endTime":1607.891,"body":"The AI, you know, design chips"},{"startTime":1604.181,"endTime":1607.891,"body":"will lead to, you know, much"},{"startTime":1607.891,"endTime":1609.231,"body":"higher efficiencies on that."},{"startTime":1609.231,"endTime":1613.131,"body":"But there is so much opportunity"},{"startTime":1609.231,"endTime":1613.131,"body":"out there in the world today."},{"startTime":1613.131,"endTime":1614.911,"body":"That's that's below the cost curve."},{"startTime":1615.251,"endTime":1617.211,"body":"It just makes makes good sense."},{"startTime":1618.121,"endTime":1619.491,"body":"The hardest part about that."},{"startTime":1619.491,"endTime":1623.611,"body":"And the barrier to that tends to"},{"startTime":1619.491,"endTime":1623.611,"body":"be that these systems are highly,"},{"startTime":1623.971,"endTime":1626.3410000000001,"body":"highly localized and distributed."},{"startTime":1626.5910000000001,"endTime":1629.8210000000001,"body":"I'll give you maybe my I don't know"},{"startTime":1626.5910000000001,"endTime":1629.8210000000001,"body":"if it's my favorite example, but a"},{"startTime":1630.111,"endTime":1634.7910000000002,"body":"realistic one from 20 years ago when"},{"startTime":1630.111,"endTime":1634.7910000000002,"body":"they came out with the waterless urinal."},{"startTime":1634.7910000000002,"endTime":1636.261,"body":"And it was a revolution."},{"startTime":1636.261,"endTime":1638.751,"body":"We can do this without water"},{"startTime":1636.261,"endTime":1638.751,"body":"and huge water savings."},{"startTime":1639.201,"endTime":1642.101,"body":"And then, you know, when the first"},{"startTime":1639.201,"endTime":1642.101,"body":"buildings began to put them in,"},{"startTime":1642.711,"endTime":1643.941,"body":"the cost was through the roof."},{"startTime":1644.021,"endTime":1645.191,"body":"And why was that?"},{"startTime":1645.191,"endTime":1646.241,"body":"It's a new technology."},{"startTime":1646.241,"endTime":1650.066,"body":"It's a little higher cost, but every"},{"startTime":1646.241,"endTime":1650.066,"body":"single building code said, Hey, any"},{"startTime":1650.076,"endTime":1653.366,"body":"urinal you put in, you must run a"},{"startTime":1650.076,"endTime":1653.366,"body":"quarter inch plumbing line to this."},{"startTime":1653.366,"endTime":1655.356,"body":"And it needs to come from the"},{"startTime":1653.366,"endTime":1655.356,"body":"water main and everything."},{"startTime":1655.356,"endTime":1657.486,"body":"And you look at it and go, wait a minute."},{"startTime":1657.486,"endTime":1658.7060000000001,"body":"These things don't need water."},{"startTime":1658.766,"endTime":1661.4460000000001,"body":"Yeah, but the building code says"},{"startTime":1658.766,"endTime":1661.4460000000001,"body":"everyone needs a water line."},{"startTime":1661.4460000000001,"endTime":1663.886,"body":"And you know, the plumbers"},{"startTime":1661.4460000000001,"endTime":1663.886,"body":"unions are going to make sure"},{"startTime":1663.886,"endTime":1664.9560000000001,"body":"that the water lines are there."},{"startTime":1664.9560000000001,"endTime":1665.896,"body":"So it's, it's."},{"startTime":1666.3010000000002,"endTime":1669.351,"body":"You know, almost on a building"},{"startTime":1666.3010000000002,"endTime":1669.351,"body":"code by building code on a, on a"},{"startTime":1669.441,"endTime":1673.0410000000002,"body":"regional basis that some of these"},{"startTime":1669.441,"endTime":1673.0410000000002,"body":"things need to be thought through."},{"startTime":1673.0810000000001,"endTime":1675.191,"body":"So highly optimistic on that one."},{"startTime":1675.361,"endTime":1681.971,"body":"That's the similar issue coming to the"},{"startTime":1675.361,"endTime":1681.971,"body":"supply side, and I think renewables are"},{"startTime":1681.981,"endTime":1684.161,"body":"a default choice in many markets now."},{"startTime":1684.641,"endTime":1690.761,"body":"The hard part there is the the you know,"},{"startTime":1684.641,"endTime":1690.761,"body":"is how to sharpen the grid in order to"},{"startTime":1690.761,"endTime":1694.751,"body":"make sure that this distributed generation"},{"startTime":1690.761,"endTime":1694.751,"body":"is able to get to the right places at the"},{"startTime":1694.751,"endTime":1697.5810000000001,"body":"right time and see these demand signals."},{"startTime":1697.5910000000001,"endTime":1702.031,"body":"So a number of the regulations, a"},{"startTime":1697.5910000000001,"endTime":1702.031,"body":"number of the work in this space, you"},{"startTime":1702.031,"endTime":1704.861,"body":"know, was done decades, 50 years ago."},{"startTime":1704.871,"endTime":1708.991,"body":"And you know, with things like you know,"},{"startTime":1704.871,"endTime":1708.991,"body":"whether you're able to do net metering"},{"startTime":1708.991,"endTime":1712.221,"body":"at your house and get a benefit from"},{"startTime":1708.991,"endTime":1712.221,"body":"some of the renewables that people"},{"startTime":1712.481,"endTime":1716.511,"body":"are putting on versus, you know,"},{"startTime":1712.481,"endTime":1716.511,"body":"losing the output of that and sinking"},{"startTime":1716.511,"endTime":1719.191,"body":"costs is a, is a regulatory issue."},{"startTime":1719.191,"endTime":1723.691,"body":"So there's a lot of work that could be"},{"startTime":1719.191,"endTime":1723.691,"body":"done on smoothing regulations for this."},{"startTime":1723.691,"endTime":1725.531,"body":"I think it could help with infrastructure."},{"startTime":1725.611,"endTime":1731.641,"body":"You know, we tend to build grids towards"},{"startTime":1725.611,"endTime":1731.641,"body":"the, you know, 0.1% of peak load."},{"startTime":1732.011,"endTime":1735.0510000000002,"body":"So that we're not, you know, screwing"},{"startTime":1732.011,"endTime":1735.0510000000002,"body":"things up, making sure that you know,"},{"startTime":1735.0510000000002,"endTime":1739.181,"body":"that you're hitting that one minute"},{"startTime":1735.0510000000002,"endTime":1739.181,"body":"of the one day of the one year that's"},{"startTime":1739.191,"endTime":1743.0410000000002,"body":"the hottest moment in the world so"},{"startTime":1739.191,"endTime":1743.0410000000002,"body":"that you can have enough capacity for"},{"startTime":1743.0410000000002,"endTime":1744.891,"body":"power to flow and not hit a problem."},{"startTime":1744.891,"endTime":1748.681,"body":"But you know, with AI, with some of this"},{"startTime":1744.891,"endTime":1748.681,"body":"distributed generations, are there ways"},{"startTime":1748.691,"endTime":1753.4950000000001,"body":"to make these things more resilient to"},{"startTime":1748.691,"endTime":1753.4950000000001,"body":"be able to build towards more of the,"},{"startTime":1754.175,"endTime":1756.7350000000001,"body":"shifting of load and storing of energy."},{"startTime":1756.775,"endTime":1760.005,"body":"So this is where we're battery"},{"startTime":1756.775,"endTime":1760.005,"body":"technology where hydrogen where"},{"startTime":1760.025,"endTime":1764.375,"body":"a number of these kind of storage"},{"startTime":1760.025,"endTime":1764.375,"body":"techniques become vitally important."},{"startTime":1764.375,"endTime":1769.615,"body":"But this is also an area where significant"},{"startTime":1764.375,"endTime":1769.615,"body":"government intervention where the costs"},{"startTime":1769.615,"endTime":1771.585,"body":"were very high for early movers here."},{"startTime":1772.355,"endTime":1775.7450000000001,"body":"So how can you set up the right"},{"startTime":1772.355,"endTime":1775.7450000000001,"body":"incentives and like the IRA and"},{"startTime":1775.7450000000001,"endTime":1781.385,"body":"other things to continue to drive"},{"startTime":1775.7450000000001,"endTime":1781.385,"body":"the supply side work as well."},{"startTime":1781.395,"endTime":1782.7150000000001,"body":"So optimistic."},{"startTime":1782.915,"endTime":1785.9950000000001,"body":"I think a little more cautiously"},{"startTime":1782.915,"endTime":1785.9950000000001,"body":"optimistic on that one, because"},{"startTime":1785.9950000000001,"endTime":1789.2450000000001,"body":"there needs to be some structural"},{"startTime":1785.9950000000001,"endTime":1789.2450000000001,"body":"change to get to those kind of"},{"startTime":1789.2450000000001,"endTime":1790.885,"body":"numbers is in addition to that."},{"startTime":1790.885,"endTime":1795.015,"body":"But I think we're all familiar with the,"},{"startTime":1790.885,"endTime":1795.015,"body":"you know, with the electric vehicles"},{"startTime":1795.015,"endTime":1798.545,"body":"and, you know, whether that's trending"},{"startTime":1795.015,"endTime":1798.545,"body":"upward or downward at the moment, but"},{"startTime":1798.545,"endTime":1803.9950000000001,"body":"it's amazing, you know, area for battery"},{"startTime":1798.545,"endTime":1803.9950000000001,"body":"storage, your homes, you can generate, you"},{"startTime":1803.9950000000001,"endTime":1808.7450000000001,"body":"can store, you can, you can really load"},{"startTime":1803.9950000000001,"endTime":1808.7450000000001,"body":"shift depending on pricing and when the"},{"startTime":1808.7450000000001,"endTime":1810.515,"body":"renewables are running in time of day."},{"startTime":1810.515,"endTime":1814.345,"body":"So, lots of opportunities there, but"},{"startTime":1810.515,"endTime":1814.345,"body":"a little bit of a structural issue to"},{"startTime":1814.345,"endTime":1816.285,"body":"make sure those are able to be unlocked."},{"startTime":1816.845,"endTime":1820.655,"body":"Mmm yeah, interesting you mention"},{"startTime":1816.845,"endTime":1820.655,"body":"the batteries, I was looking at a"},{"startTime":1820.655,"endTime":1827.055,"body":"post on Threads yesterday I think it"},{"startTime":1820.655,"endTime":1827.055,"body":"was from a used who was impacted by"},{"startTime":1827.055,"endTime":1829.2,"body":"the power cuts by Hurricane Helene."},{"startTime":1829.67,"endTime":1836.29,"body":"And this particular guy had a Hyundai"},{"startTime":1829.67,"endTime":1836.29,"body":"Ioniq 5, lovely car an electric vehicle."},{"startTime":1836.65,"endTime":1839.41,"body":"And he was running his house"},{"startTime":1836.65,"endTime":1839.41,"body":"and his neighbor's house"},{"startTime":1839.5,"endTime":1840.75,"body":"from the battery in the car."},{"startTime":1841.14,"endTime":1845.365,"body":"And it was, you know, people"},{"startTime":1841.14,"endTime":1845.365,"body":"don't realize the amount of energy"},{"startTime":1845.365,"endTime":1847.425,"body":"that's stored in a car battery."},{"startTime":1847.785,"endTime":1853.045,"body":"If you think of the, for example, the"},{"startTime":1847.785,"endTime":1853.045,"body":"Tesla Powerwalls, which can power a"},{"startTime":1853.045,"endTime":1857.045,"body":"house for a couple of days, typically"},{"startTime":1853.045,"endTime":1857.045,"body":"that's 14 kilowatt hours of storage,"},{"startTime":1857.4750000000001,"endTime":1861.9550000000002,"body":"whereas a typical car like that Ioniq,"},{"startTime":1857.4750000000001,"endTime":1861.9550000000002,"body":"depending on which version it is,"},{"startTime":1861.9750000000001,"endTime":1864.315,"body":"has a 70 or 80 kilowatt hour battery."},{"startTime":1864.315,"endTime":1868.075,"body":"So many multiples of a Powerwall"},{"startTime":1864.315,"endTime":1868.075,"body":"and that's not unusual."},{"startTime":1868.365,"endTime":1872.305,"body":"I drive a Kia Niro and that's a 64"},{"startTime":1868.365,"endTime":1872.305,"body":"kilowatt hour battery, for example."},{"startTime":1872.595,"endTime":1879.31,"body":"So, the, and the, the ability for a"},{"startTime":1872.595,"endTime":1879.31,"body":"vehicle to load, or vehicle to grid is,"},{"startTime":1879.31,"endTime":1881.14,"body":"is going to be a, a huge game changer."},{"startTime":1881.14,"endTime":1881.5,"body":"I think."},{"startTime":1881.8700000000001,"endTime":1885.6200000000001,"body":"We see buses, school buses"},{"startTime":1881.8700000000001,"endTime":1885.6200000000001,"body":"are another great example."},{"startTime":1885.625,"endTime":1888.74,"body":"I, I had a company on the podcast"},{"startTime":1885.625,"endTime":1888.74,"body":"a few weeks ago talking about"},{"startTime":1888.74,"endTime":1890.21,"body":"using them for vehicle to grid."},{"startTime":1890.63,"endTime":1893.99,"body":"So it's, it is a re a"},{"startTime":1890.63,"endTime":1893.99,"body":"huge, huge game changer."},{"startTime":1894.56,"endTime":1896.27,"body":"But coming back to, to climate,"},{"startTime":1896.52,"endTime":1899.23,"body":"Yeah, I was going to say, and"},{"startTime":1896.52,"endTime":1899.23,"body":"again on that, Tom, I think a huge"},{"startTime":1899.26,"endTime":1902.63,"body":"game changer, but also requires"},{"startTime":1899.26,"endTime":1902.63,"body":"a lot of local regulations to,"},{"startTime":1902.81,"endTime":1904.16,"body":"you know, make that possible."},{"startTime":1904.55,"endTime":1908.6200000000001,"body":"So it's a, it's a fairly heavy lift"},{"startTime":1904.55,"endTime":1908.6200000000001,"body":"at the local level to to actually,"},{"startTime":1909.05,"endTime":1912.23,"body":"you know, achieve that reality or"},{"startTime":1909.05,"endTime":1912.23,"body":"that potential of of the game changer."},{"startTime":1912.635,"endTime":1912.895,"body":"Yeah."},{"startTime":1913.1950000000002,"endTime":1916.7150000000001,"body":"Particularly for vehicle to"},{"startTime":1913.1950000000002,"endTime":1916.7150000000001,"body":"grid, for vehicle to home, less"},{"startTime":1916.7150000000001,"endTime":1918.095,"body":"so in terms of the regulations."},{"startTime":1918.095,"endTime":1921.025,"body":"You do need a car that's"},{"startTime":1918.095,"endTime":1921.025,"body":"capable of doing it."},{"startTime":1921.065,"endTime":1924.9450000000002,"body":"Not all cars are, but it's, it"},{"startTime":1921.065,"endTime":1924.9450000000002,"body":"is an easier lift as it were."},{"startTime":1925.4950000000001,"endTime":1930.655,"body":"With, with climate week's theme of"},{"startTime":1925.4950000000001,"endTime":1930.655,"body":"\"It's time\", what message would you"},{"startTime":1930.655,"endTime":1934.365,"body":"like to send to business leaders who"},{"startTime":1930.655,"endTime":1934.365,"body":"are still hesitant about committing"},{"startTime":1934.365,"endTime":1935.685,"body":"to sustainability initiatives?"},{"startTime":1936.671,"endTime":1939.891,"body":"You know, the reality of it"},{"startTime":1936.671,"endTime":1939.891,"body":"is these are mega trends."},{"startTime":1939.991,"endTime":1944.641,"body":"They're not going away and the"},{"startTime":1939.991,"endTime":1944.641,"body":"scope and the scale of investment"},{"startTime":1944.681,"endTime":1949.501,"body":"might go up or down depending on,"},{"startTime":1944.681,"endTime":1949.501,"body":"you know, what other factors are"},{"startTime":1949.511,"endTime":1951.441,"body":"going on and what other investments."},{"startTime":1951.451,"endTime":1954.381,"body":"But again, I, I think the key"},{"startTime":1951.451,"endTime":1954.381,"body":"message is the best time to"},{"startTime":1954.381,"endTime":1956.221,"body":"invest was probably a decade ago."},{"startTime":1956.8110000000001,"endTime":1959.211,"body":"The second best time is now, I would say."},{"startTime":1960.781,"endTime":1964.161,"body":"You know, this is a balance between the"},{"startTime":1960.781,"endTime":1964.161,"body":"quarterly returns needed and keeping"},{"startTime":1964.161,"endTime":1967.521,"body":"the market happy and knowing that"},{"startTime":1964.161,"endTime":1967.521,"body":"there are mega trends that are driving,"},{"startTime":1968.021,"endTime":1971.101,"body":"you know, the effect on companies"},{"startTime":1968.021,"endTime":1971.101,"body":"for for the next year, for the next"},{"startTime":1971.141,"endTime":1972.8210000000001,"body":"five years, for the decade to come."},{"startTime":1972.881,"endTime":1976.601,"body":"So, it's really about balancing"},{"startTime":1972.881,"endTime":1976.601,"body":"the portfolio of the investment,"},{"startTime":1976.601,"endTime":1979.611,"body":"but also keeping, you know,"},{"startTime":1976.601,"endTime":1979.611,"body":"kind of eyes on the prize."},{"startTime":1979.651,"endTime":1982.601,"body":"These things are not going away"},{"startTime":1979.651,"endTime":1982.601,"body":"where some of the other hype cycles,"},{"startTime":1982.601,"endTime":1983.781,"body":"you know, will come in quickly."},{"startTime":1983.781,"endTime":1986.531,"body":"Maybe go away a little more quickly."},{"startTime":1986.5710000000001,"endTime":1988.011,"body":"This one is, is here to stay."},{"startTime":1988.011,"endTime":1992.3110000000001,"body":"It's been robust for decades, and I"},{"startTime":1988.011,"endTime":1992.3110000000001,"body":"don't think the disclosure requirements"},{"startTime":1992.3110000000001,"endTime":1994.361,"body":"are going to go away anytime soon."},{"startTime":1994.788,"endTime":1998.248,"body":"And I don't think the impacts are"},{"startTime":1994.788,"endTime":1998.248,"body":"going to go away anytime soon."},{"startTime":1998.248,"endTime":2000.268,"body":"This is a generational challenge."},{"startTime":2000.268,"endTime":2002.028,"body":"So, it requires investment."},{"startTime":2002.028,"endTime":2005.688,"body":"And I think you know, again, realistic"},{"startTime":2002.028,"endTime":2005.688,"body":"enough to know people are, are,"},{"startTime":2005.718,"endTime":2007.8980000000001,"body":"you can't go whole hog into it."},{"startTime":2007.8980000000001,"endTime":2011.828,"body":"It's a, it's a you know, some of"},{"startTime":2007.8980000000001,"endTime":2011.828,"body":"the benefits might be out a little"},{"startTime":2011.838,"endTime":2015.178,"body":"further in the, in the future,"},{"startTime":2011.838,"endTime":2015.178,"body":"but it's an area that requires"},{"startTime":2015.198,"endTime":2017.6680000000001,"body":"consistent vigilance and and focus."},{"startTime":2017.6680000000001,"endTime":2021.0710000000001,"body":"And you know, we'll continue to"},{"startTime":2017.6680000000001,"endTime":2021.0710000000001,"body":"be a major, major driver for risk"},{"startTime":2021.0710000000001,"endTime":2022.441,"body":"and opportunity for companies."},{"startTime":2022.986,"endTime":2023.786,"body":"Sure, sure."},{"startTime":2024.846,"endTime":2025.986,"body":"Left field question."},{"startTime":2026.396,"endTime":2031.486,"body":"If we are combining your passions, if"},{"startTime":2026.396,"endTime":2031.486,"body":"creating a sustainable future were like"},{"startTime":2031.516,"endTime":2035.866,"body":"composing a piece of music, what elements"},{"startTime":2031.516,"endTime":2035.866,"body":"would be essential to making it a hit?"},{"startTime":2038.371,"endTime":2039.491,"body":"Left field question."},{"startTime":2039.601,"endTime":2043.671,"body":"I will  give you an anecdote"},{"startTime":2039.601,"endTime":2043.671,"body":"from one of the producers I've"},{"startTime":2043.681,"endTime":2047.481,"body":"I've worked with looking in at"},{"startTime":2043.681,"endTime":2047.481,"body":"us going hey, it's great music."},{"startTime":2047.501,"endTime":2049.241,"body":"It sounds like a box of puppies."},{"startTime":2049.681,"endTime":2054.921,"body":"And I think, I think we might be in"},{"startTime":2049.681,"endTime":2054.921,"body":"the box of puppies phase of putting"},{"startTime":2054.921,"endTime":2057.091,"body":"together the strategies for this."},{"startTime":2057.131,"endTime":2063.186,"body":"There are so many things that are working"},{"startTime":2057.131,"endTime":2063.186,"body":"and working well, and individually, they"},{"startTime":2063.186,"endTime":2067.346,"body":"sound good, and there are POCs that are"},{"startTime":2063.186,"endTime":2067.346,"body":"coming out well, and there are pilots,"},{"startTime":2067.346,"endTime":2072.586,"body":"and there are all of these things, but"},{"startTime":2067.346,"endTime":2072.586,"body":"how do you get that to work together at"},{"startTime":2072.586,"endTime":2077.926,"body":"scale, and to work together harmoniously,"},{"startTime":2072.586,"endTime":2077.926,"body":"to actually have the bigger piece of"},{"startTime":2077.926,"endTime":2082.596,"body":"music, if you will, or the impact on"},{"startTime":2077.926,"endTime":2082.596,"body":"the planet come together and instead"},{"startTime":2082.596,"endTime":2086.526,"body":"of, you know, this, this image of a"},{"startTime":2082.596,"endTime":2086.526,"body":"box of puppies jumping all over each"},{"startTime":2086.526,"endTime":2091.246,"body":"other to, you know, to get to the get"},{"startTime":2086.526,"endTime":2091.246,"body":"to the market and show what's going on."},{"startTime":2091.266,"endTime":2095.576,"body":"So again, this ties back to my"},{"startTime":2091.266,"endTime":2095.576,"body":"theme of standards and coordination."},{"startTime":2095.576,"endTime":2099.956,"body":"If we can agree on some of the"},{"startTime":2095.576,"endTime":2099.956,"body":"standards, if we can agree on ways"},{"startTime":2099.956,"endTime":2103.616,"body":"of exchanging data around this, I"},{"startTime":2099.956,"endTime":2103.616,"body":"think we can get through some of that."},{"startTime":2103.616,"endTime":2106.516,"body":"But that's you know, especially"},{"startTime":2103.616,"endTime":2106.516,"body":"after coming from New York and"},{"startTime":2106.516,"endTime":2109.266,"body":"Climate Week, that's the best"},{"startTime":2106.516,"endTime":2109.266,"body":"analogy I can give you at the moment."},{"startTime":2109.556,"endTime":2109.946,"body":"I like it."},{"startTime":2110.0860000000002,"endTime":2110.436,"body":"I like it."},{"startTime":2111.0860000000002,"endTime":2113.116,"body":"We're coming towards the"},{"startTime":2111.0860000000002,"endTime":2113.116,"body":"end of the podcast now, Jim."},{"startTime":2113.136,"endTime":2118.376,"body":"Is there any question I did not ask that"},{"startTime":2113.136,"endTime":2118.376,"body":"you wish I had or any aspect of this we"},{"startTime":2118.376,"endTime":2121.076,"body":"haven't touched on that you think it's"},{"startTime":2118.376,"endTime":2121.076,"body":"important for people to be aware of?"},{"startTime":2122.156,"endTime":2125.216,"body":"I, I think it's been it's been"},{"startTime":2122.156,"endTime":2125.216,"body":"a pleasure to be here today."},{"startTime":2125.216,"endTime":2126.756,"body":"So first of all, thanks so much."},{"startTime":2126.756,"endTime":2131.326,"body":"I'm still in the recovery phase of Climate"},{"startTime":2126.756,"endTime":2131.326,"body":"Week and thinking through a lot of the"},{"startTime":2131.326,"endTime":2135.866,"body":"hard work that remains in the pathway"},{"startTime":2131.326,"endTime":2135.866,"body":"to COP and in the pathway to the future."},{"startTime":2135.886,"endTime":2140.5660000000003,"body":"I think the, the one message that r the"},{"startTime":2135.886,"endTime":2140.5660000000003,"body":"one thing I wish we talked about maybe a"},{"startTime":2140.5660000000003,"endTime":2145.856,"body":"little more is the ties of the material"},{"startTime":2140.5660000000003,"endTime":2145.856,"body":"transition with the energy transition and"},{"startTime":2145.866,"endTime":2148.116,"body":"thinking through some of these things."},{"startTime":2148.116,"endTime":2153.571,"body":"So one big picture topic that that hit"},{"startTime":2148.116,"endTime":2153.571,"body":"me at Climate Week, but we, we look"},{"startTime":2153.571,"endTime":2157.4410000000003,"body":"at, like, circular economy and some"},{"startTime":2153.571,"endTime":2157.4410000000003,"body":"of the servitization of materials."},{"startTime":2157.451,"endTime":2161.681,"body":"Like, I'm gonna give you the service of"},{"startTime":2157.451,"endTime":2161.681,"body":"having a carpet as opposed to selling"},{"startTime":2161.681,"endTime":2166.651,"body":"you carpet, the interface example, or"},{"startTime":2161.681,"endTime":2166.651,"body":"the service of, you know, airline miles"},{"startTime":2166.771,"endTime":2170.571,"body":"rather than the you know, for Rolls"},{"startTime":2166.771,"endTime":2170.571,"body":"Royce, rather than selling you an engine."},{"startTime":2170.981,"endTime":2174.331,"body":"And I'm wondering, Tom, you"},{"startTime":2170.981,"endTime":2174.331,"body":"know, what, what lessons we can"},{"startTime":2174.331,"endTime":2177.571,"body":"learn from material transition"},{"startTime":2174.331,"endTime":2177.571,"body":"back into the energy transition."},{"startTime":2177.581,"endTime":2183.1910000000003,"body":"You can now use an electron to power"},{"startTime":2177.581,"endTime":2183.1910000000003,"body":"your car for a number of miles, or"},{"startTime":2183.1910000000003,"endTime":2186.101,"body":"you could use it to make aluminum, or"},{"startTime":2183.1910000000003,"endTime":2186.101,"body":"you could use it to do these things."},{"startTime":2186.111,"endTime":2189.121,"body":"So can, can we begin to look"},{"startTime":2186.111,"endTime":2189.121,"body":"at the energy transition?"},{"startTime":2189.121,"endTime":2193.866,"body":"It's what's the, value you're"},{"startTime":2189.121,"endTime":2193.866,"body":"getting out of the electron rather"},{"startTime":2193.866,"endTime":2195.176,"body":"than measuring in electrons."},{"startTime":2195.176,"endTime":2195.496,"body":"Is it?"},{"startTime":2195.516,"endTime":2199.456,"body":"Is it better to do, you know,"},{"startTime":2195.516,"endTime":2199.456,"body":"20 car miles versus this much"},{"startTime":2199.456,"endTime":2200.896,"body":"aluminum from the green energy?"},{"startTime":2200.896,"endTime":2205.256,"body":"And how do we begin to look at maybe"},{"startTime":2200.896,"endTime":2205.256,"body":"the servitization of of that a bit?"},{"startTime":2205.2960000000003,"endTime":2207.226,"body":"So I don't think this"},{"startTime":2205.2960000000003,"endTime":2207.226,"body":"happens anytime soon."},{"startTime":2207.226,"endTime":2211.716,"body":"But you know, these, these kind of big"},{"startTime":2207.226,"endTime":2211.716,"body":"picture questions pop up as, a s we're"},{"startTime":2211.716,"endTime":2213.766,"body":"going through some of these meetings."},{"startTime":2213.776,"endTime":2217.656,"body":"So are there ways to, you know,"},{"startTime":2213.776,"endTime":2217.656,"body":"better tie this this material side of"},{"startTime":2217.656,"endTime":2219.956,"body":"things to the energy side of things?"},{"startTime":2219.956,"endTime":2223.446,"body":"There's a great report I would turn"},{"startTime":2219.956,"endTime":2223.446,"body":"your readers or your listeners towards"},{"startTime":2223.821,"endTime":2226.571,"body":"from Ellen MacArthur Foundation"},{"startTime":2223.821,"endTime":2226.571,"body":"a few years ago, that's showing"},{"startTime":2226.571,"endTime":2227.9410000000003,"body":"to solve the climate problem."},{"startTime":2228.331,"endTime":2231.361,"body":"It's about a 50 percent energy"},{"startTime":2228.331,"endTime":2231.361,"body":"transition problem, but it's about"},{"startTime":2231.361,"endTime":2235.451,"body":"a 50%, you know, about half is"},{"startTime":2231.361,"endTime":2235.451,"body":"related to material transition,"},{"startTime":2235.491,"endTime":2238.761,"body":"particularly in the hard to abate"},{"startTime":2235.491,"endTime":2238.761,"body":"sectors, in the cement, the aluminum,"},{"startTime":2238.791,"endTime":2243.881,"body":"the steel, the food and agriculture,"},{"startTime":2238.791,"endTime":2243.881,"body":"the bio based side of things there."},{"startTime":2243.881,"endTime":2246.701,"body":"So, you know, we really need to"},{"startTime":2243.881,"endTime":2246.701,"body":"look at the confluence of  these"},{"startTime":2246.731,"endTime":2250.041,"body":"two trends and not view them"},{"startTime":2246.731,"endTime":2250.041,"body":"independently and separately."},{"startTime":2251.561,"endTime":2252.051,"body":"Good point."},{"startTime":2252.271,"endTime":2252.721,"body":"Good point."},{"startTime":2253.801,"endTime":2257.6910000000003,"body":"Jim, if people would like to know more"},{"startTime":2253.801,"endTime":2257.6910000000003,"body":"about yourself or any of the things"},{"startTime":2257.6910000000003,"endTime":2260.381,"body":"we discussed in the podcast today,"},{"startTime":2257.6910000000003,"endTime":2260.381,"body":"where would you have me direct them?"},{"startTime":2261.746,"endTime":2264.736,"body":"I would go to the SAP site"},{"startTime":2261.746,"endTime":2264.736,"body":"around sustainability."},{"startTime":2264.956,"endTime":2270.156,"body":"There is some wonderful information"},{"startTime":2264.956,"endTime":2270.156,"body":"around there and people can, of"},{"startTime":2270.156,"endTime":2272.996,"body":"course, feel free to reach out if"},{"startTime":2270.156,"endTime":2272.996,"body":"they'd like to like to learn more."},{"startTime":2273.866,"endTime":2274.226,"body":"Super."},{"startTime":2274.226,"endTime":2275.756,"body":"I'll put the link in"},{"startTime":2274.226,"endTime":2275.756,"body":"the show note for that."},{"startTime":2275.7960000000003,"endTime":2277.896,"body":"And that way everyone"},{"startTime":2275.7960000000003,"endTime":2277.896,"body":"will have access to it."},{"startTime":2278.0660000000003,"endTime":2278.3360000000002,"body":"Great."},{"startTime":2278.866,"endTime":2279.886,"body":"Jim, that's been fascinating."},{"startTime":2279.906,"endTime":2281.236,"body":"Thanks a million for the conversation."},{"startTime":2281.236,"endTime":2282.506,"body":"It's been really, really interesting."},{"startTime":2283.446,"endTime":2284.556,"body":"Yeah, it was a pleasure to be here."},{"startTime":2284.556,"endTime":2286.596,"body":"Thanks so much for the"},{"startTime":2284.556,"endTime":2286.596,"body":"for the conversation."},{"startTime":2286.686,"endTime":2287.376,"body":"I enjoyed it."},{"startTime":2287.834,"endTime":2289.704,"body":"Okay, we've come to the end of the show."},{"startTime":2290.424,"endTime":2291.534,"body":"Thanks everyone for listening."},{"startTime":2292.3940000000002,"endTime":2296.534,"body":"If you'd like to know more about the"},{"startTime":2292.3940000000002,"endTime":2296.534,"body":"Climate Confident podcast, feel free to"},{"startTime":2296.544,"endTime":2300.464,"body":"drop me an email to tomraftery at outlook."},{"startTime":2300.714,"endTime":2304.194,"body":"com or message me on LinkedIn or Twitter."},{"startTime":2304.764,"endTime":2308.504,"body":"If you like the show, please don't"},{"startTime":2304.764,"endTime":2308.504,"body":"forget to click follow on it in your"},{"startTime":2308.514,"endTime":2313.034,"body":"podcast application of choice to get new"},{"startTime":2308.514,"endTime":2313.034,"body":"episodes as soon as they're published."},{"startTime":2313.629,"endTime":2316.589,"body":"Also, please don't forget to"},{"startTime":2313.629,"endTime":2316.589,"body":"rate and review the podcast."},{"startTime":2316.789,"endTime":2319.459,"body":"It really does help new"},{"startTime":2316.789,"endTime":2319.459,"body":"people to find the show."},{"startTime":2320.419,"endTime":2320.859,"body":"Thanks."},{"startTime":2321.529,"endTime":2322.449,"body":"Catch you all next time."}]}