and welcome to the launch of the International Energy Agency's first ever critical minerals market review. I'm Jethro Mullen, head of the IA's communications team. I'm joined today by IA Executive Director, Dr. Fati Birol, by our Chief Energy Economist, Tim Gould, and by Teyoon Kim, the lead author of the report, which is free to read and download on our website, along with a new data explorer, which Mr. Gould will tell you more about shortly. During today's press webinar, Dr. Birol will make some opening remarks and then Mr. Gould will present the key findings of the report. We'll then take questions from journalists. For the journalists taking part in this press webinar, we invite you to submit your questions via the Q&A function in the Zoom. You can do this at any point during the presentation and we'll also take a two-minute break right after the presentation for you to submit your questions. With that, I'll hand over to our Executive Director, Dr. Birol. Very many thanks, Jethro, and greetings to all the colleagues who are following this press webinar. Greetings from the International Energy Agency headquarters. Dear colleagues, today we are launching a new market review. Many of you would know that we have market reviews for oil, gas, renewables, electricity, and now we are adding one other market review to this series, namely, Critical Minerals Market Review. This is the first one and we are going to regularly publish this market review. In addition to that, we are also launching the IES Critical Minerals Data Explorer, which provides all the data and projections the International Energy Agency has in the context of Critical Minerals. So, dear colleagues, some of you may know that two years ago, we made a landmark study on Critical Minerals, looking at the future and the demand and the supply for Critical Minerals. In that report, it was over two years ago, we said we see a looming mismatch between the demand for Critical Minerals and their availability. And in today's report that we are launching with my colleagues with Mr. Gult and Mr. Kim, in this report, we look whether or not this mismatch is still as big as we have identified two years ago. Now, when I look at the numbers, I can tell you that in the last two years, we have seen two important responses to this IEA message, because, as I said, with this report two years ago, we send a memo to the energy world and highlighting this challenge, and the alarm bells we rang. Now, two responses. One on the government side. Many governments around the world came up with Critical Minerals strategy. It is the U.S., it is Europe, it is Canada, Australia, Chile, and we know that India, for example, is about to come up with a Critical Minerals strategy to which IEA is contributing and Brazil is also coming up with such a strategy. So this was the government response to the mismatch we have identified. And that was also a response from the companies as well. The numbers of this report we are launching today shows that the Critical Minerals development investments in 2021 increased by 20 percent and 2022, last year, increased further 30 percent. So 20 percent in 2020, 2021, and 30 percent last year. So major growth in investment, which makes us happy. At the same time, we see that the market size of key energy transition minerals we are talking about reaches this year 320 billion U.S. dollars. And 320 billion U.S. dollars is more or less the same where the iron ore market size stays today. So the market size of the Critical Minerals reaches the leader of the Minerals iron ore this year and double the size of aluminium. These are all very good news and one more perhaps good news before going to the however's and the but's and if's. I should tell you that my question is my colleague Teyum Kin and his colleagues look at the all the project pipeline of the Critical Minerals today around the world and what we say that if all those projects would see the light of the day and there's a big iftar of course then we would cover about two-thirds of the Critical Minerals need for we need for reaching our net zero targets major improvement in terms of the investment of project pipeline. Having said that, we know that the mining projects often face delays. There are permitting issues, serious permitting issues and we also know that in many cases there are costs overrun. So this shouldn't be taken for granted that all the projects that we see the light of today but still an important improvement in terms of the market response to that. In my view dear colleagues, the market response increasing investments is an important signal that the markets are buying in that the clean energy transition will be even faster in the next years to come so that we will need more Critical Minerals. Now in addition to this rather encouraging news there are two worries we have which were expressed in this report. One of them is the issue of concentration in other words lack of diversification of the Critical Minerals development and especially refining. When we look at the refining segment today where the Critical Minerals are refined we see one country named China plays a dominant role and as of this year, China's share in the global Critical Minerals refining reaches over two-thirds. But one should also note that China itself would need raw materials. For example, cobalt, almost all the cobalt to China needs to come from the Democratic Republic of Congo. So there is an issue there. But our report registers this concern of lack of diversification here in terms of the supply. The second concern our report registers is the environmental and social indicators. When we look at some of the environmental indicators such as the emission intensity of production it is not improving when we compare our numbers two years ago. When we look at the water needed for the process it is even going in the wrong direction we need more water today for the process compared to two years ago. So in that respect, our review of the current situation gives an encouraging message in terms of the growing investments but also registers concerns on the side of the diversification and also social and environmental indicators. Dear colleagues, I would like to finish by saying that the International Energy Agency takes this issue very seriously and this is one of now our main work streams because we know that the secure and affordable clean energy transition will be critically hinging on the availability of the critical minerals around the world. But seeing those challenges and tasked by the G7 leaders in Hiroshima and the IEA ministers we are looking at the security of supply of critical minerals very closely and in that context we thought that we should bring all the key players together. On the 28th of September this year in Paris we are holding a summit on critical minerals and clean energy and the ministers from the important countries ministers from the resource-rich countries from Asia, Latin America, Africa investors, CEOs of the major mining companies around the world, civil society we will bring all the stakeholders together to foster a dialogue in order to address the challenges I tried to raise a few minutes ago. So with this once again I would like to thank our chief energy minister Mr. Guld for overseeing this very important project and also my colleague Teyun Kim for being the lead author and running the team. So thank you very much Mr. Malin. Thanks very much indeed Executive Director for these opening remarks and I'd like to pick up the story now and take us through some of the more detailed findings of this work but before I do so I wanted to also pick up on one thing you mentioned in that in addition to the critical minerals market review that we are releasing today we are also releasing a data explorer which allows policymakers, companies, researchers to dig into all of the numbers that we produce for a wide range of critical mineral technologies because modelling that demand is not simple you not only have the variability across scenarios but you also have variability across the different types of technologies that are used in energy transitions and how much of each mineral that they use and so as part of our commitment to market transparency we are making this data explorer available it's going to be regularly updated and also expanded over time to include additional data so you can look at all of the key focus minerals but you can also get into some of the more niche and exotic minerals that are acquired across transitions you can see the drop down menu which is a screenshot from the data explorer includes things like germanium, gallium which have both been in the news recently and in addition to our base cases for each scenario you can also look at some technology sensitivities which look at possible evolution of the technologies in key areas like battery chemistries or solar PV which you can see on the screen so please take the opportunity to look through and see what data from this explorer might be relevant for you now to the findings of the report and as the executive director was mentioning it's very clear that the move to a more electrified and renewable rich energy system is turbo charging demand for a range of critical minerals and metals and what you're looking at on the screen is the growth story over the last decade and you can see in particular how demand for the key battery metals has risen sharply over the last five years so since 2018 lithium demand tripled cobalt demand grew by 70% nickel by 40% and you can see a sharp contrast there with some of the other bulk materials like zinc and lead and when you look to explain the differences in outlook it's very clear that it's clean energy that is making the difference there the high share now of clean energy in the demand for lithium compared with much lower shares for zinc and lead and as the executive director was mentioning that means that the overall market size the overall market opportunity for energy transition minerals is increasing fast and where we are today is not the end of the growth story rather we're closer to the beginning of the journey than the end from EVs to solar panels to wind turbines deployment of clean energy technologies is moving fast and we do expect that trend to continue so this is what would be required in a scenario that limits global warming to 1.5 degrees rapid deployment of a range of technologies in such a scenario means that the overall demand for critical minerals would grow by 3.5 times to 2030 clean energy is already the main source of demand growth have we seen but by 2030 in the case of lithium the energy sector would account for some 90% of lithium demand nearly 60% for nickel and cobalt and 45% for copper now this brings huge opportunities but it also raises questions about the adequacy of future supplies and that's something that we focused on and warned about in our 2021 report now some people might look at this screen and say we're showing it showing the ambitious NZD scenario so net zero emissions by 2050 scenario that might overstate what happens in these critical mineral markets maybe but watch out because things are moving rapidly take the example of EV batteries where we all see regular announcements about new gigafactories new manufacturing projects around the world and we track all of these projects and colleagues in the energy technology policy division recently provided updated analysis to the 2023 G7 leaders summit in Hiroshima so if you put all of the announced battery manufacturing projects together the capacity would cover almost entirely the 2030 global deployment needs of this net zero emissions by 2050 scenario now of course announcements don't mean that projects get built but that is a real world indicator that the sort of demand increases you're looking at on the screen could materialize in practice so it's very important then to look at the supply side because if supply doesn't keep pace then this could make global progress towards a clean energy future slower or more costly and we've seen just over the last couple of years what the risks could be if you follow energy transitions closely you'll be aware that over the last couple of years the cost of battery packs of solar panels of wind turbines in many markets has edged higher and that's been reversing at least temporarily a decades long trend of cost demands of cost declines so why was that? Well it's higher prices for some of these key critical mineral inputs that have really been behind that slight uptick in costs and although the critical mineral prices have come down this year it wouldn't take much for us to see a resumption of those cost pressures so market balances don't just depend on supply and in our work we're very focused also on policy levers to affect the demand side things like recycling, things like technology development smaller EVs and so on but in this presentation I'm going to focus now on three layers of supply side challenges the first of them, can future supplies keep up with the rapid pace of demand growth in the IEA's climate driven scenarios and then the second question is can those supplies come from diversified sources and the third, can these volumes be supplied from clean and responsibly produced operations and I'm going to go briefly through all of these challenges and the first one relates to volume and here indeed we have seen some encouraging signs so after our warning in 2021 countries, companies, investors are responding with a wave of new policies on the government side but also projects we have seen this strong growth in capital spending as the executive director mentioned 2021 a rise of 20% and then a further 30% rise in 2022 for a sample of the largest players in that market so the largest mining companies and we've also seen a significant growth in exploration spending 20% increase in 2022 and that was driven by record growth in lithium exploration Canada, Australia led the way but activities also expanding in many parts of Africa and Brazil so we have seen that increase in capital expenditure and naturally enough that produces an increase in anticipated supply and so the second column in all of these figures is around the volumes that could be expected if all of these announced projects are implemented and planned and come through on time now that's a big if as the executive director mentioned but I think it's important to have in mind that in many cases now the announced projects that we see would be sufficient for a scenario that meets national climate objectives so all of the net zero targets that have been announced by governments around the world all of the 2030 ambitions that have been announced as well copper is a slight exception here but for lithium, for nickel, for cobalt we are either at or around or even above in the case of cobalt the amounts that would be needed in that announced pledges scenario and that's a distinct improvement on the picture that we painted in our 2021 report but the adequacy of supply is far from assured there are ever present risks of delays, of permitting issues, of cost overruns these have been regular occurrences in the past and of course cannot be excluded in the future and we're presenting this aggregate picture on the screen but I think we also need to be aware that there are some nuances here there could be some shortages of the higher specification battery grade products that need higher quality input so even within some of these pictures there are some distinctions to be made and most importantly, if we do look at what would be required to reach a 1.5 degree stabilization in global average temperatures then in all cases we would need additional projects to come through so promising signs in terms of volumes but with some caveats and qualifications along the way now onto that second issue that I mentioned the issue of the diversity of supplies and there the picture is less promising so this is a chart that we put together for our 2021 report and we've updated it now for all the latest data and what it shows is today's share of the top three producing countries for extraction on the left-hand side of the screen and then processing on the right-hand side of the screen and if we compare that picture with what we saw in our previous report which used 2019 data you see that in many cases we haven't seen an improvement and in some cases, notably for Nickel the level of concentration has actually increased so how does this evolve based on the announced projects that we've been talking about already today so our analysis of project pipelines indicates that the projects that are underway that will come into operation in the next few years that will improve the picture somewhat but we don't see the same prospects for improvement in refining operations so the majority of planned projects in the midstream are developed in incumbent regions China holds half of the planned lithium chemical plants Indonesia represents nearly 90% of planned Nickel refining facilities so it's extremely important for us to ensure resilient clean energy value chains and there is a large number of resource-rich nations in Africa, Latin America and elsewhere that are looking to find their place in this market and indeed to move from extraction into some of those midstream areas and on the consuming side many consuming nations want to diversify their sources of refined metal supplies so the task is in a way to successfully connect the dots and build new partnerships and create those more diversified network of supplier relationships finally on the third challenge around environmental social governance issues again we use the same assessment of those 20 leading companies and we did see signs of improvement on a range of social indicators improvements in community investment, worker safety and gender issues however we didn't see matching progress on environmental indicators so greenhouse gas emissions remain relatively high as emissions per ton of output water withdrawals you can see on the screen nearly doubled from 2018 to 2021 there are reasons for that resource quality is declining in some areas mean that you need more energy to extract the same amount of useful material plays are becoming more challenging but nonetheless this assessment highlights the importance of improving the environmental performance further and this is an area where consumers can also play their part if they demand high standards if they prioritize high standards in their sourcing and investment decisions that provides a strong impetus for producers to act and improve their performance so before we move to your questions a couple of concluding comments as the Executive Director mentioned in 2021 we kind of sent a memo to the energy and climate community and the initial landmark report highlighting potential risks that need attention for the role of critical minerals in clean energy transitions and in 2023 we can see that this is a very dynamic area very strong growth in the market but also that governments are responding and that companies are responding investment has been rising in a way that if all projects come through on time then supply could be sufficient to meet national climate ambitions but there are a host of risks that remain and further actions on both the supply and the demand side are needed and in particular there has been limited change in the diversity of supply and the progress that we've analyzed on a range of social environmental indicators has been quite mixed so this critical minerals review is part of a much broader effort from the International Energy Agency on market monitoring, on reliable data, on transparency and please visit also the Data Explorer to find out more and it's also part of a much broader effort from the IEA to promote reliable, secure and sustainably produced minerals for energy transition so with very strong support from IEA member governments the agency is fully engaged on this topic and as the executive director mentioned a very important expression of that will be the major international summit that we are convening at the end of September which will bring together ministers, CEOs, investors civil society on these crucial issues thank you very much for your attention thank you very much for the presentation it's time to take questions from journalists we invite the journalists in attendance to send your questions through the Q&A function of the Zoom if you haven't done so already and please mention your media outlet along with your question we're just going to take a two minute break to give you a chance to enter your questions we'll be right back back thank you for the questions from those of you who have submitted them we're going to start with one which minerals are you most worried about in terms of supply and where do you see potential strains on the market so I think our lead author, Taeyoon Kim is going to take this question over to you Taeyoon thank you Jisro so as Tim mentioned we are making some progress on the supply increasing volumes of future supply but still the supply security is far from assured and I think among the various minerals we need some set of minerals that need particular attention those are copper and high-purity manganese and the layers element for copper we see very strong demand growth of the next decade as we pursue some of the chemical as copper is used in a wide range of green energy technologies including electricity networks and renewable wind turbines and others but not cases relatively well supplied at the moment but if you look at the project pipeline we don't see the large number of high-quality large-scale projects that means that there could be some potential strains in the medium term, longer term supplies to meet the copper demand in the coming years so that is one area we need some particular attention the other one I would mention is about high-purity manganese so there are some growing trends to adapt the manganese in battery chemistry in either in high-nike chemistry or lithium-ion phosphate chemistry so there will be some growing demand for high-purity manganese to serve that purpose but the supply of high-purity manganese is quite lacking in the marketplace at the moment but also that supply is highly dominated by China so that requires some more attention to increase supply for high-purity manganese and rare earth element is another item I'd like to mention so demand is quite strong in EV models and also wind turbines but the supply is also lacking and also there are some high concentrations of supply in China especially on heavy rare earth elements such as dispersion and terabium so those are the elements among the others and I would mention as a kind of something that needs some particular attention Thank you very much Taeyun so another question we have is on ways to reduce demand so shouldn't we focus more on ways to reduce demand for critical minerals for example by driving smaller EVs or switching away from cars altogether and there's also a related question to this from Martin Mayrath from Korea in Austria on what role can recycling realistically play so I think Tim Gould, our chief energy economist can take a run at these, Tim Yeah, thanks very much indeed, Jethro I'll talk a bit about the mobility aspects of this and perhaps Taeyun would like to say a few words also specifically on recycling and it is the case at the moment that most of the battery electric vehicles that are sold today are large they're large cars, they're SUVs about 60% of the new sales are these large models that's true, 60% in Europe around the same in China and an even greater share in the United States an SUV, an electric SUV has a battery size that's two or three times larger than that of a small electric vehicle so you can immediately see that the choice of EV has a big impact then on the overall requirement for some of the critical minerals that we're talking about so we should remain very focused on the demand side looking at the way that consumer choices also pass through into overall demand for battery metals and other critical minerals and that also includes elements like getting away from cars altogether improving the quality of public transport and enabling sort of non-car choices particularly for shorter journeys however we think it's probably natural that at this stage in the market development companies are priorities and the auto manufacturers are priorities in some of these higher value segments so the larger vehicles if the companies are to hit their own targets for EV sales they will inevitably need to produce some more sort of mass market models some smaller cars and we think that would also then have implications for the amount of critical minerals that are required for that segment and then perhaps can I ask Tyun if you want to take the point on recycling Thanks Tim on recycling I think we the recycling can play a big role in the meeting some demand growth in the coming decade especially in our natural scenario but we are seeing some versioning amount of the to build some new recycling capacities today the front is very much dominated in China but there are some growing investment in Europe and the US to build some new recycling capacities that is very much encouraging but it makes some take some time to make some meaningful contribution to the supplying demand from recycling because the end of life products spent batteries, spent solar panels spent wind turbines become available around 2030 so from that point we see some strong growth in the stock volumes but in the meantime most of the pieces that will come from the manufacturing script from the battery manufacturing processes so it will make meaningful progress but it will make more meaningful progress after 2030 in our view Thanks a lot Tyun and one more question for you I think from Jeremy Creswell of the Press and Journal he's asking in the grand scheme of critical resources how significant is the news from Norway regarding the discovery of large new phosphates and associated metals reserves Tyun what can you tell us Yep so I think that is very encouraging and good news because we are seeing some growing adoption of the lithium ion phosphate batteries in total battery chemistries so we saw the large uptake of these chemistries in recent 2-3 years and we think this trend to continue over the next couple of years so that requires also lithium but also this high quality phosphate so that is some supplying this high quality phosphate is the very encouraging sign this discovery is very encouraging but it also is very much important to accelerate the development of these mineral resources to serve the demand growth of the next decade Great thank you Tyun and then just I think it's time for just a couple more questions one from Subel Bandari from Radio Free Asia apart from China and Indonesia how are other Asian countries doing in all exploration mining and refining sectors and then a question about the summit the critical mineral summit in September that was mentioned during the presentations who are you expecting at this event and what do you hope to achieve so I think those two questions Dr. Birol will take them Thank you Jethro of course in Asia in fact in the world China is the dominant player and Indonesia is also making major steps especially in the context of Nickel but in addition to these two giants there are a few other countries in Asia who are also working on the development and the refining of the critical minerals one of them is Philippines especially on Nickel the other one is Malaysia Malaysia and the context of rare earth elements so but in general there is a lot of interest there so when it comes to our summit it will be attended by many ministers around the world ministers who are from the countries who import the critical minerals ministers from Europe North America Asia, Latin America and so on but also ministers from the countries who have the resources of critical minerals ministers from Africa again Latin America and Asia but in addition to those we thought we should invite the investors because there is a growing appetite from the investors side for the critical minerals development and the mining industry we see huge interest for our summit from established mining companies as we know many of those mining companies are moving in the direction of critical minerals in terms of their investment portfolios and also we want to bring the civil society and international organizations here so it will be a diverse group from the policy makers to the industry as well as the finance sector now what we want to achieve it will be to our knowledge it will be first it is kind to hear everybody hears from each other to understand our concerns preoccupations where we see the challenges and when we look at the entire critical minerals issue we think one thing is critical namely international cooperation and we hope that this summit will be a good step in the direction to foster international cooperation and provide a good basis for dialogue among all relevant stakeholders Thank you very much Dr. Beryl I'm afraid that's all we have time for today if any journalists have questions that didn't get answered during the Q&A that you'd like to follow up on we invite you to reach out to our press office and we'll get back to you as soon as we can so thank you again to Dr. Beryl Mr. Gould and Mr. Kim and thank you very much to the journalists for the questions and to everyone who followed this event online for your interest in our work as mentioned the full critical minerals market review 2023 is available for free on our website along with the new data explorer so please go take a look and that's all for today thank you and goodbye


Felly, mae'n gweithio. Dysgwyl gweithio, yng nghymru o'r Unedig Gweinig, yng Nghymru Llywodraeth, yng Nghymru Oeddeig, Acim yng Nghymru. Yng Nghymru, yng Nghymru Pro-Ynghymru, yng Nghymru, yng Nghymru yng Nghymru. Felly, mae'n gweithio i'n gweithio. Felly, mae'n gweithio i'n gweithio'n gweithio. Mae'r ysgrifwng yma i'r fawr o'r unig. Felly, mae'r unig i chi wedi'u i'n gweithio'r unig o'r llythoedd. Mae hynny'n ddyn nhw. Nid yw i'r holl, ond mae'n gweithio'n gweithio. Oni'n gweithio'n gweithio'n gweithio? Nid. Mae'n gweithio'n gweithio ar hyn. are glad that you have reached this stage in your careers. We are in awe of your achievement, each and every one of you, and all of us, the whole community, is inspired by the thought of what is to come for each and every one of you. But none of you will be here without family and friends. So, why don't we give them a round of applause? You all have contributed to their presence here today. You all, every one of you, family and friends, have made it possible for them to achieve what they have. And it's my job as Chancellor, representing the whole and wider community, to thank you, to thank you for all you've done to bring them to this point, and to thank you all, not just for your achievements to date, significant though they are, but also to thank you for what is to come. Greenwich is a great world university, and as I was coming into the university today from DLR, just the number of different languages that I heard was an indication of just what a global reach this university has. You represent the whole and the wider world, and the world needs what you bring to the table at this time. We live in a world that is grappling with inequality, grappling with a cost of living crisis, grappling with climate change, and the struggle for sustainability. The sustainability goals, all of them rightly put an emphasis on higher education for their delivery, and the skills that you have developed while studying as you have been, the skills that will enable you to contribute to the world of business, enterprise and the economy. The relationships that you have developed, one with the other, will stand you individually in good stead in the years to come, but importantly they represent our best hope for building a better world. So, for you, for us, your friends and family, for the world, the best is yet to come. And none of that would be possible without your teachers, without the wider membership of our university family, who have stood behind you to bring you to this point. So, let us all give them a round of applause, shall we?  But we want to send you out of here with a sense of all that you can do and our enthusiasm for your doing it. And there's a wonderful phrase in language I must admit I didn't hear as I was walking from Greenwich DLR today, but it's a widely spoken language in Southern Africa, where I worked at one stage in my life as Her Majesty's High Commissioner. And it's a phrase I want you all to remember, but not just now as you leave here, but throughout your life as an inspiration to do what you have to do, when you have to do it, with the spirit and focus that you need to do it. And that word is this. Zenn zeili. Viku, you can all do better than that. Viku zenn zeili. Viku zenn zeili means just get up, get out there and do it. Just get up, get out there and do it. Bring that spirit to your life. And we're going to say that word three times, getting louder every time, just so you don't forget it. Viku zenn zeili. Viku zenn zeili. Viku zenn zeili. Just get up there, get up and do it. Thank you very much. Of the Pro-Vice Chancellor from the Greenwich Business School University of Greenwich, Professor Lee Doster. Dear graduands, guests and members of the university community, it is my absolute honour to welcome you to today's graduation. As the Pro-Vice Chancellor and Executive Dean of Greenwich Business School, it is my pleasure to congratulate our wonderful graduates on your amazing achievements. And I'd like to start the ceremony by asking every single person to put their hands together and give a huge round of applause for the graduands of the University of Greenwich. Quite a good start, but I think you can do better than that. Graduates of the School of Business Operations and Strategy, boss, I think we can do better than that. Let's have another go. This chapel is a truly special place in which to host today's ceremony, and it reminds us of the university's 130-year history as a seat of learning, something we take enormous pride in. And this heritage is one of high standards of teaching and research and the reason why thousands of students from across the world come and study with us every year. And we continue to build and enrich our legacy every year, and this year has been no different. We the university, the meaning of the word university is more than just the sum of its parts, it's an academic community, it's our wonderful professional services staff, and it's our outstanding students. Our achievements have brought us together today, but within those collective endeavours there are some specific achievements that I would like to spend just a moment reflecting upon as we near the end of the academic year 2023. We are really proud at Greenwich Business School to have developed and approved a new suite of vibrant dynamic and employability-led programmes in emerging areas such as data analytics, digital marketing and fintech, plus new apprenticeships this year. So as alumni you can be confident that your university is future fit. And to support these new programmes we are also installing a new trading floor and digital marketing lab ready for the start of our next academic year. We were also delighted this year to host the Chartered Institute of Logistics and Transport's London Regional Student Conference, where we welcomed experts from around the sector and were also honoured to welcome her Royal Highness, the Princess Royal, who gave a motivating speech and met with some of our students and staff. There have also been some wonderful individual successes this year. All of our students are outstanding with endless potential and I wish I could give you more examples, but I will just give you a few. Navin Sauer was one of our international students from Nepal who graduated with a distinction in MA International Tourism and Hospitality Management in 2022. He is now working as general manager at XCHG venues in central London. Navin is also giving back to our school and our students by becoming a member of our school advisory board. Ben Tiphip graduated in MSc Economics with us back in 2018. He then completed a PhD in Economics with a VC scholarship in 2022. His first postdoc job was at King's College London as a Leaverhoom Research Fellow, but then he came back to the University of Greenwich as a lecturer in economics in September 2022 and has this month been selected to submit a research proposal to the UKRI Future Leaders schemes. One of the things I love about this university is that our alumni very often come back to us and give back or contribute or become part of the of the faculty. Viara Resuva graduated in 2013 with a BA Business Economics degree. She then went on to do a master's degree in political economy of Europe at the London School of Economics and Viara has since worked as a European Policy Consultant for VVA Europe and is at the Government Economic Service. She is currently a senior economist and head of trade policy analysis at HM Treasury. So our students really do go on and achieve amazing things. So if you set your heart and minds to it, I know you can go on and achieve extraordinary things just like the very many alumni who were once sitting in this seat not too long ago. There are many more examples of Greenwich graduates who have gone on to become world leaders, Nobel Prize winners, influential campaigners, playwrights, musicians or business owners and you can learn more about them in our Greenwich Portrait series. But today I along with everyone else at the university look forward with interest to see how your careers develop, how you shape your future. Graduating can be daunting but I have full faith that each and every one of you will go on and achieve amazing things. With your wide-ranging experience and the university's outstanding employability record you are fully prepared for the next big challenges ahead. So for today and for the future I offer you my very best wishes and sincere congratulations on your achievements today. I think another round of applause is very much in your way. And I will finish by drawing on the words of poet Mary Carey who said a university is a city of ideas and we are very grateful that you became citizens of our city. So Greenwich graduates of 2023 celebrate your success, go out as citizens of our university to realise your ambitions, make your dreams a reality and make a difference to the world. Thank you. Greenwich Students Union Officer, Aminul Islam Fahad. Hello and welcome everyone. I'm very happy to be here and to see all the graduates here today. My name is Aminul Islam Fahad and I'm an elected GSE officer for 2023 and 2024 from Greenwich Student Union so I represent and work for students starting at Greenwich, Everhill and Medway. I'm honoured to be here today to share this celebration with you and your loved ones. After years of hard work late nights in the library, essays, labs and exams you have made it. You did it and we couldn't be prouder. Let's cheer for all of you. Let's also make some noise for our friends, colleagues and peers who share this journey with us. We loved with us sometimes panicked with us but ultimately we got us here today. Let's cheer for them all.  We couldn't have done it without your patience, your guidance and your kindness. Cheer to them as well please. And now today you become alumni part of a fantastic community of Greenwich students who know matter where they go always have home in here. I know you are going to go on doing amazing things and share the lessons that you have learned over the years with others. You as a Greenwich graduate will take pieces of us with you and continue to build this community. I am so proud to be here. See you begin this next chapter. Thank you for letting me be part of your story. Enjoy the remnants and most of all celebrate. Thank you and cheer for all of you. Thank you. Chancellor, Vice Chancellor, I now call upon Professor Petros Irmanahiu to present to you award holders from the Greenwich Business School. Chancellor, Vice Chancellor, I have the honor to present to you the award holders from the Greenwich Business School, from the School of Business Operations and Strategy and for the Certificate of Higher Education Business Management Le Baika Arshad. Martina Fuchs. For the degree of Bachelor of Arts Business Management Rauf Abdul. For the degree of Bachelor of Arts Business Management Rauf Abdul. Gordon Robert Cooper. Amelia Sarah Jane Cox. James Steven Crowley. Leanne Dacosta Dacosta. Nadina Denayla. Gisela Delfavero. Samuel Abidemisi. Daniela Luka. Brittany Dooley. Ogeneovo Dumi. Andrew Tony Dye. Massoud Ahmed Famit. Ramim Feisal. Omar Ferry. Emily Cristel García Pizón. Adolfo Jose García Sifontes. Guillermo Gardiner. Ramirez Escudero. Louis Steven Guaico Heredia. Cabriol Robin Haringson. Mohamed Abdi Hersey. Venera Hiseni. Mohamed Imthiazul Hock. Mohamed Shamim Hock. Yasser Husay. Mohamed Nur Islam. Onadi Ebba Islam. Rakibul Islam. Samuel Islam. Pongsathor Jitzakul. Shakira Monique Johnson. Paige Miranda Jothimuthu. Yusuf Mohamed Kabiri. Comfort Conadu Kabore. Sujan Kalaichelvan. Damian Kaluza. Mantautas Keralius. Sumanpreet Kaur. Jahit Khan. Samuel Alexander Kings North. Benisola Mariam Colawole. Muskan Kumar. Jay Lagden. Subedath Achabi Ligali. Oyn Ebrahimi Lue. Stefano Manghi. Raghavan Mahendran. Caroline Maus. Hasan Mazi. Arsida Mehmedi. Nad Azra Mia. Sharifun Tissa Mia Canum. Margarida Isabel Miranda Martens. Katey Ma Mwanda Eiei. Pays Lovemore Mntetwa. Afils Mudah. Trwf Cytendran Ancani. Amira Nonni. Samuel Cinedu Ogbonania. Clauda Florence O'Neill. Anirutzin Ramsin Pamar. Noelani Yvon Pascar. Shannon Bethany Pemberton. Kaylee Ann Sabrina Povey Garman. Natalie Caroline Pozzubon. Gideon Joseph Quyfe. Atenasca Geolgeva Radieva. Sadia Rahman. Homet Arifu Rahman. Hima Rahman. Tainaya Ashanti Aliyarit. Wendy Mayara Rochavegia. Emilia Rikowska. Anna Shatti. Charlie Secchiere who also receives the David Gray Memorial Prize for Best Dissertation on Leadership and Organization. Harves Sharma. Rwy Pedro Silva Mota. Sarthak Sinha. Florentin Alin Serboiu. Karla Pola Suzaferreira de Castro. Simona Stefurec. Jay Thomas Summers. Rhymi Sunzita. Samantha Thompson. Abraar Timol. Elisaveta Thiorina. Fahamida Odin. Lucia Vatkevićiute. Veronica Vilkovska. Brittany Kimanie Davida Walker. Hasan Wasim. Alper Ylgenji. Sanjit Ahmed Yusuf. For the Degree of Bachelor of Arts, Business with Marketing, Lucia Gardines Ramirez Escudero who also receives the University of Green Merit Award for Outstanding Achievement. For the Degree of Bachelor of Arts, Business Management, Maria Nina Katiparambil-Filatis. Chancellor, Vice Chancellor, that concludes the list of award holders from the business group. I now call upon the Vice Chancellor of the University of Greenwich, Professor Jane Harrington, to confer the awards. Can I just ask you to stand up for me a moment and by virtue of the powers vested in me as Vice Chancellor of the University of Greenwich, I confer upon all those who have been presented the title, award and honours to which you are entitled. So in other words, you are now all graduates. Well done everyone. You can sit down now. I'll have you up again in a minute, don't worry. And they think I'm joking. Now, Chancellor, Pro-Vice Chancellor, as the Vice Chancellor and Chief Executive Officer of the University of Greenwich, it is my absolute honour and privilege to formally congratulate all of you today. It is a day of celebration and it is absolutely fantastic to be able to celebrate with so many of you. Today is a really important day for you but it's also for those who've supported you along the way and I'd like to encourage you to take a moment just to think about all the people that have helped you to get here, your family, your friends, your lecturers and I'm sure you want to thank them so I am actually going to ask you can you stand up again for me and could you face your family and friends and if they're online we've got cameras so you know where they are and I'm going to count you in three and I want you to show them quite how much you've really appreciated them. Now you're quite noisy so I think you could do quite well. Are you ready for this? One, two, three. Just stay there a minute, just a minute. Now, Lord Broting, do you think they were Chancellor? Yeah, they could do better, couldn't they? Would you agree? Yeah, we definitely. Are you ready? Last chance. One, two, three. You can sit down and I think they did appreciate you. Now, graduation marks the end of an important part of your lives and the beginning of the next and I know that each of you's taken a really unique journey to get to this moment and as you walk out today you are taking with you wonderful memories, friends that you've made, skills that you've gained and each and every one of your accomplishments and I really ask you to spend some time over the next few days really just stopping and recording those so that any moment in your life when you need to remind yourselves of actually how fantastic you are it's always there for you to refer to. Now I know that many of you have juggled multiple responsibilities, you've cared for your families and you've persevered despite all the challenges that life has thrown at you.  Always remember that, you did it. Now throughout the last year the University of Greenwich has also had some amazing success. We've been named by the student crowd as the best UK university in 2023 which is the only independent award that's based entirely on student reviews and this outstanding result is a testament to the dedication and work that we do to support our students enriching your overall experience with us and throughout the past year our teams have worked tirelessly to provide extensive costs of living support including doubling our hardship fund giving out vouchers providing free meals and much more and we've also made significant investments in our mental health and wellbeing services expanding our provision to include a wider range of in-person and online drop-in sessions. Now we sincerely hope that during your time with us you thoroughly enjoyed and made the most of the diverse array of events available on our campuses such as career mentoring, design shows, mock trials, shark expo and many others and these engaging activities were designed to foster personal growth, enhance your skills and create some really memorable experiences. In June the university achieved a significant milestone by being ranked among the top 100 global institutions in the times higher impact ratings which measures our contribution to society in the planet and we're particularly proud to have been ranked 20th in the category of reducing inequalities in the world. We also have amazing research happening which is making a real difference to people's lives locally, nationally and across the globe. Dr Andrew Nighthill's project is working on delivering state-of-the-art facilities for creative and cultural research around drama, film, architecture, music and sound and it's expected to contribute to regional development of southeast London via the Woolwich creative district and across the UK bringing benefit to students and communities in London and beyond. Another example is the FASIP project in the Greenwich Business School. This project has been working with partners from Flanders, the Netherlands, France and England and it's working to find ways to support businesses in the tourism sector to be more sustainable and I know that's something that's close to all of your hearts. Finally this year the University of Greenwich has been ranked eighth in the People and Planet University League. That's a really great achievement as we've climbed up 15 places. Our students always tell me that sustainability is their number one priority so this is a particularly special achievement for us recognizing our green and ethical credentials. Now during the welcome speech you've already heard of some of the great things that colleagues in your faculty have achieved throughout the last few years and actually I was really delighted to hear about how many of the great things that alumni have achieved so I'm waiting to hear what you're all going to achieve and I but I'd like us to take a moment to really recognize the wonderful faculty staff and the wider teams working at our university. No institution exists without its staff and these are the people that have supported you on your journey with us as well so what I'd like to do is I'd like to ask all of our academic and professional service staff to stand up please so if you could all stand up and around the room if you could stand up they'll all think they're hidden at the back but they're not if you could all stand up for me that would be great and what I'd like you all to do is to join me in thanking the Pro-Vice Chancellor, the Faculty of Senior Team and each and every member of staff for everything that they do to support our students and to make the University of Greenwich what it is which is a wonderful friendly and supportive place to be so thank you all very much thank you graduates we want you to go out to the world and be proud of the institution that you will always be part of our new strategy 2030 is extremely ambitious about what the future holds for us and for our students we want to have net zero carbon emissions to ensure that all of our graduates have the best future for them to be the best modern university in the UK and to be in the top 30 of the guardian league table by 2030 and we will do this and we will do it by being inclusive collaborative and impactful and by putting student and staff mental health and well-being at the core of what we do so we promise you to continue to work really hard to improve in the future so that you can be at just as proud of us now graduates as of today you have joined a global alumni community and that's now over 270 000 strong and now more than ever this community is a really powerful resource to lean on and they along with the university are here to help you progress in your graduate career and navigate the next stages of your journey so on behalf of the University of Greenwich I wish you all huge congratulations on your wonderful successes and achievements and I'm really excited to hear about what the future holds for you all so thank you very much and congratulations Chancellor Vice Chancellor distinguished guests that concludes this morning's presentation of successful award holders of the University of Greenwich would guests please remain seated until the processions have left the chapel and await further instructions from stewards thank you and enjoy the rest of your celebrations today