Germany this is the site of the United NationsGlobal Climate conference kopp twenty three so lets discuss it is my great pleasure to welcome here today we have your Royal Highness from work enough princess of sita jake much she is joining us today she is the ambassador of burkean a fast so for Renewable Energy and Energy Efficiency we also have from door to post. Professor dr Christoph Earhart executive Vice President for Corporate Communications and responsibility. And from deutsche Asset Management mikhail holter joins us today you are a director at door to and we thank you very much for being with us and from the oco institute in germany dr felix mattis is with us here on the set and dr felix mathis is Research Coordinator for energy and Climate Policy was to all of you thank you so much for being here today and thank you also to our host to door to post d. H. L. Group christophe i want to direct the first question to you because were sitting in your Global Headquarters right now both the post tower in bonn germany a structure which has won numerous awards for just how green and sustainable it is. Apart from building green structures can business save the climate and what is d. H. L. Doing well i think a business can make a significant contribution to it and has to because on the one side we have a responsibility to the environment in which we are active Natural Environment as well as societal environment secondly we have an opportunity also to differentiate us from competitors with sustainable products and services. And then for sure we can be a role model for other companies in our industry and so that actually basically three reasons why we think it is necessary to be engaged in sustainability as a company and we have goals in that area since quite a while we started a project to reduce our us u two emissions by thirty percent ontario twenty twenty in two thousand and seven already and we achieved those targets four years earlier than expected and as a result of that we did a lot more long term shop now and we decided to aim for going emission free by twenty fifty which is a long very ambitious shop yes most of us may not be around and twenty fifty anymore and thats why we have to find also in between targets by the twenty twenty five and i want to talk with you a little bit later about how it is that you plan to get there because what an ambitious goal that is but but first i want to go right now from from big business to a small product which is having a very big impact especially on the continent of africa and your highness i will turn to you with that because you have pioneered this solar lamp which has actually been they named by the United Nations as one of the fourteen global Breakthrough Solutions for achieving sustainability first of all congratulations to you on doing that second of all id like to know how big do you see its impact as being. First of all i would like to thank you to having me on the program and also to thank the government of germany for thing the cup twenty three im here also has a special envoy for the president of kenya for us so as the g. s and Climate Change so of course coming back to your question the why did i start the more my Light Initiative and why this solar lanterns because when you finish your study thats where the engineer by profession i went back to the countryside all the way down what we called the last mile and it was dark as you cant imagine i say my husband is that my kids i have four kids and they have life they can make they they study things need to change thats was i say i am highness from the countryside i have responsibility so solutions are there i need to take my responsibility and start doing my homework the marmalade is for t. V. Is doing my homework because parents are sending send send send me to school so i came with a solution so that i start to do it and the impact its really huge and you see Small Business start growing is reduced and our pollution myself my lungs are weak and why because i study myself when i was small with care isnt it there is a lot to i know the empath and i know also the value when you have a light a powerful light that also it for me bringing that solution is was to dont bring a disease to my people. Everything and the quality of the l. E. D. That im jude that im using because you have a lot of long tents in the market but the quality of the elite any of these are not good then its creating also ice problems so thats is the its so amazing to see how something so simple with just a little injection of passion there can really make a very big difference michael i want to turn to you because you cover the big money perspective here youre designing funds which you used to see in a bill assets people can invest in them at deutsche Asset Management how do you see sustainability and profitability going together well i think profitability is a function of Sustainable Business practice there is no there is no difference between the one of the other is not its not a contradiction i think the challenge we have is to find enough good businesses like such companies to tips which capital can support. We have an affluence of capital there is no question about it we have invested already capital that has financed the acquisition of our own two hundred thousand of installations like her highness as presented in Eastern Africa we are migrating to western africa right so we have solutions we have capital we have the technology we need entrepreneurs and we need to find this kind of spirit to drive the solution into the market is that because there arent enough businesses today that are making money being sustainable. I would argue any business that has long term success works sustainably it is also something a study of studies that has been performed by the Hamburg University in cooperation with the task management has revealed sort of an analysis of two thousand two hundred studies that have tried to find a correlation between positive for long term positive return and Sustainable Business practices determined that the majority of businesses previews long term positive returns exceeding the market level if they have sustainability practice being part of their d. N. A. All being part of their business attitude felix now i want to put it to the big picture with you because i know that you really have this big picture view of how it is that business is impacting the climate how do you see the relationship between the two right now you know first of all business is part of the problem and Business Needs to be part of the solution and i think the key issue is theres a plenty of opportunity for growth if the regulatory and of market framework is right but on the other hand we also need to deal with the business which needs to be phased out so if it is about coal etc etc that is not about growth in Business Opportunities its its about a managed decline and that brings me to the point that in the end of the day the question is what drives business and an. Business is driven by the Regulatory Framework by the market framework it is a bald Carbon Pricing but it is also the ice breaker which delivers to new options but again this is about the growth story and as an important growth story if to framework is right but theres also another story we need to work of his business and the employees and others because especially in the industrialized countries it is also about face out nonsustainable a high carbon in this gs. Phaseout nonsustainable high Carbon Industries i mean would you consider your business to be in one of those industries kristoff i mean because when we think about logistics for example when you have to move things from one place to another you actually have i believe one of the Worlds Largest air Freight Centers here in germany as well which you have some of those products whats your priority in offsetting that impact where do you start i mean we have two principles here. Which are burning less and burning clean and we try to apply them to all kinds of infrastructures we have such as buildings our fleet. For sure in all kinds of infrastructure emmons of what we do. We have started that as i said pretty early and we came a long way in the beginning by harvesting the low hanging fruits in that area by again for example changing the Lighting Systems of our buildings or optimizing the way we use our cars but then you come to a point where you have to think really big and i like the notion of the ice breaker in our case. I can make example would be a delivery solution on the last mile as we say its all the car by which delivery person comes to the household and delivers the policy or the letter now you know problem is that technological devise of choice usually is a carbon driven car and in order to find an alternative we had to go to the extreme that we had to build our own car and it was the only alternative to find a way to optimize that last minute element. And in the meantime we have three thousand five hundred on produce cars on the streets we call them streets. What does that say about the role of german business in helping the climate the fact that you had to go it alone the fact that in a country where the Automotive Industry is the largest industry in the country you have to develop your own electric vehicle. Well what i can say on the Positive Side is it shows that it is possible with the technology of today to build your own car you need to know how and we gain that by acquiring start up close to the w t h r and the Industry University in germany not the only one but one of the big ones they had to know how we had the vision for delivery car we used all the livery people to optimize the concept and build it and now we have it i think on the Positive Side you can say its possible to build it if you really wanted it was difficult to get it on the market. Fascinating that you were able to do so and i want to continue this theme of partnership in fact and i want to turn to your highness because this is something that that that you have also talked about as well what do you think that is business big business can learn for example from from your efforts in the Energy Market on the Grassroots Level especially when it comes to partnership for me is about sometimes we think a lot top down for me is about bottom up approach which i call the greening up it goes a freak and so even the the small islands as well theyre green by where green by the age and evan and our culture we are not creating our family we building we continued a family so i think business is about contiguity and when we talk about sustainability and i totally agree with what you say they want to wait for the solution you because you are the solution but you need to be conscience about it and you need a vision is and people who see that and and the reverb here you have the crocodiles but you need one of the ok i will run has fast i can and jump and cross it thats why his able to do you need those kind of people to power the way to show the vision even if were not the one whos go. Going to employment it but you need to start because the the technology of tomorrow and for instance in africa we are not going to use the technology of the past and also. Bringing the attention of our universities dont train our kids on the jobs of yesterday please that is also one of the because this is part of our homework as africans we need if we need to to jump to make the jump and to Grow Together and also this brings me to the ongoing Business Models also and countries regarding how to buy the solar and put on the roofs you have the leasing where are we going to. When the lease contract will have and where those peewees will have and. Because myself i dont want to be part of that im taking on the technology so we need thats what i say we really need to fake to get the technology how we are going to recycle then and think on the recycling and that leads perfectly to our next point here because i mean as as we mentioned at the beginning of the show we are in bonn today the site of where the cop twenty three is currently taking place if we need to Work Together felix what do you think that we need to see come out of this meeting because i mean in past cops for example we saw the paris accord for example agreed to a moment of jubilation but now its really about getting into the dirty details for example what do we need to see you know i think we need to have an outcome on what transparent and reliable and drug bost implementation provisions for paris because paris has set the big framework the big targets and now its coming to the nitty gritty details how to make things comparable how to build to come in framework and that is hard work i think we went through these sort of secured a protocol that americas accords and the markers accords have been much much thicker paper and then then the kyoto protocol and we will see the same here and so its about Building Trust and building a common vision and my favorite chinese sayings is crossing the river by feeling the stones because that says to things you need to know where the other river bank is and you need to have a clear plan that you know one to cross the river but on the other hand you need to deal which it with with the with the solutions which vailable and the solution but imaginable and i think this is the this is the key issue also for you all come of the cop. Softy issues as. In the nitty gritty details of reporting Transparency Trust etc etc vote losing track on the big target and i think that that that brings me back to the crest of we all dont know how the world will look like in two thousand and fifty but we can use the two thousand and fifty vision and the purse agreement is a two thousand and fifty vision to ensure consistency with the things which can be done in vigil needs to be done here and today and and and and also maybe tomorrow and i think this is the this is the this is the key importance that we all come from very very Different Directions but what happens in born here is to make Different Things from Different National circumstances from different cultures from the different political systems compared to poor comparable to join forces for these vision of Carbon Neutral world michael as an asset manager and also Deutsche Bank being a partner for example at cop and a sponsor what would you like to see and i think personally i would like to see a kind of a deep politicize ation of the topic because as you already indicated now its a time of the practitioners and we need solutions and human beings that can deliver the solutions we dont need further targets or discussions whether the target can be achieved with certain interventions we need is as a plane level globally on the one side with respect to regulation so what regulation do i need to abide by what are the rules on being bound to the other side we need to have practitioners that have. The ability also to fail is what i was thinking about what you discussed before. This is a little bit the missing piece allowance and acceptance of fadia we need a trial and error trial and error this is how we have to develop over the last hundreds of years and this will never change no one wants to talk about failure. But we need to have a certain exceptions on failure. And i can give you another example where i think the attention of politics and the attention of Public Sector towards an issue was already solved before it was even realize and thats the Telecommunications Act in africa was leapfrogged we were thinking about cables and networks they just built their mobile stations you dont digitalized fully things like this can happen and they dont even need to happen with public intervention. Sometimes public intervention is helpful but there is a point in time when the public needs to revoke and go back but what happens here is i think its deeply political because climate is a matter of time we dont have much time for this and the second is that we have Different Levels of different degrees of responsibilities and i think we are talking about a level Playing Field today but a level Playing Field which also reflects the different responsibilities in these world is in a highly political issue and there will therefore i would say even these implementation stuff which is negotiated here is extremely political because its not only about today it is also about the past and obviously on the future. May i would actually echo both of the positions i think cope twenty three very nicely shows that nobody can go alone in the issue its a complex topic it has not been created by one Single Player i would again agree to what felix said industry played a major role into it so we also have to be a part of the solution but they also are other partners in the game and i think the whole called movement in recent years has shown if n. G. O. S governments business come together and look jointly for solutions then a difference can be made and what i find fascinating is and you all know not all of the global lets industrial states are so strongly behind the targets of the co process who would have thought five years ago that in the case of a major state puts question marks behind it the whole you know movement would still just go on and you would have the impression everyone is so dedicated to achieve something i think this is the result of now players really joining forces coming together and also feeling whites that might come into it in into existence so my feeling is we need all of those demands. We need the end for an earth spirit and dynamism on the ground in the countries and also the the watchdog sometimes from the ngos side we need the governments and the regulators to put a frame up and we need business to keep on doing what business do which is earning money by solutions and services that create a market and and find the customer and your highness i want to turn to you now because you were actually at the signing of the paris accords others paris accords which you just mentioned of course the United States has put a question mark over over whether they actually have committed to withdrawing from it you were also at the cup twenty two in mera kashmir part of the delegation there for you specifically then i mean how hope high are your hopes that the targets will indeed be implemented and reached Going Forward for me. When they go somewhere i dont expect anything i go to share what im doing to showcase and see what we can do together and i think if the issue of the negotiators is. That we you have we want this we want but where you have a way you want to rights you have duties before right and thats where our country where the first at cop twenty one african country radio was is and this is and again here we the first want ready with a national appropriate plan but im extremely happy and we Work Together we have an hour and this is. Seven billion dollars so everything is manage we have people who are committed. You have trust of people because trust need to be there thats what we have insurance when you dont have trust you need insurance to cover day and. Your trust of person i think is its the time to act for me the cup of. Bone of the cop twenty tree as should be focusing on what needs to be done you have the arsenal here we can i can learn from his experiences regarding connectivity lushly stick and thats whats interesting me i have the data bank here me file as if said meet you need a sovereign guarantee is ok well ill call my president and say thats thats what you need. The terms of reference are there the diagnostic is there and its a matter of doing and where thats where business really can make the change and do it in the attic because the importance also when you do something you need also to bring in the ethics and i want to get to that concrete action in fact now i want to leave with with with something positive and some concrete action before we go in just two sentences or last perhaps i can can ask all of you. What do you think needs to be done if you could only choose one thing within the next ten years for business in particular to save the climate and ill begin with you felix the first is to set a significant price on carbon because thats a major thats a major driver for both the new options and for phasing old the old options of peace because i think this has been the difference in paris. The solutions are there the options are there theyre not longer costly we need structural change but it can be done michael recognised the limitations that are given to us by the society by setting the target of one point five to two Percent People your highness just have to say one thing this is difficult. And thats the financial tubes to my women who has a triple a because we really need to because they are paying. Up to one hundred percent of the rate when they borrow money and to so theyre paying back we should also a paying attention on that and recognize that that will make his life easier and will grow if i if he if i grow hes the pie in the pot of the cake would be big for such an important goal kristoff well we have to provide Sustainable Services that customers are willing to pay for which sounds a bit easier than being done specifically in the b two b. World you see the faces of two asian dead customers want it they long for it to ask for it but if you discuss about the price for this has to be said then sometimes its still a bit difficult but were getting there and business save the climate you have been joining us here on global talk wed like to thank all of our guests for your insight this past hour and we want to thank all of you for joining us im sorry kelly in bonn you have been watching global talk on. Is the South Pacific island nation of doomed. 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