So many people have been speaking about the climate crisis, but the real question is why is it that we're still not acting at the scale and speed that is necessary? For 150 years, we built up a world based on the assumption that we can exploit the planet for free and it translates to very dramatic impacts happening right as we speak. The climate crisis is a threat multiplier, which means it exacerbates existing inequities in our society. We need to remember we're on the same planet and this is the planet that we need to make sustainable for the whole of humanity. Making much faster progress toward all 17 sustainable development goals is the best pathway to adjust future for all and public-private partnerships will be absolutely crucial to this transition. We know that this transition will require a fast adoption of a lot of new technologies and the question today is how to find the appropriate way to find this technology. Younger generations are demanding a sense of purpose. They want to look at companies and say, I am investing with you all for this reason. The solutions are there. What we need is governments to regulate, to invest and we need business to act with values. History will look at us, people, politicians, corporate leaders. These times require not only solutions but speed. There is nowhere else to look than the mirror. We are the ones that need to do this. Welcome back to the Sustainable Development Impact Meetings and to a session on how technology and innovation can play a key role in helping hard-to-abate sectors in the race to decarbonize. I'm Emanuela Orsini, broadcasting to you live from the World Economic Forum Studio here in New York City. As the push to meet the targets set out in the Sustainable Development Agenda intensifies the demand for technologies that cut emissions from heavy industry is growing. The International Energy Agency has said that 50% of emission reductions required to achieve net zero will come from technologies that are not yet available or at the required scale. Now, this is especially challenging for the so-called hard-to-abate sectors such as iron and steel, shipping, cement, aviation and mining. According to the UN, heavy industry is the second largest source of CO2 emissions, accounting for 25% of all CO2 emissions worldwide. So how can we create more opportunities to accelerate innovation in these sectors and reduce costs so these solutions can be rapidly deployed? Now over the next 45 minutes, we'll explore this question, the challenges these industries face, what needs to be done to solve them, and take a look at some of the solutions already being deployed and are showing us the way to a more sustainable future. And we'll also talk about Uplink, the World Economic Forum's platform which is supporting and scaling purpose-driven startups all over the world. Entrepreneurs with the kinds of solutions we need more of if we're going to succeed in meeting our decarbonization and climate goals. We'll take a look at mining and aviation a bit closer. But first, let's introduce today's panel. Joining me today is Vivek Salgaukar, director of VIMSOM Group. Thank you for being here. Benedict Sabotka, CEO of Eurasian Resources Group. Thank you for joining us. Annie Hills, senior advisor on innovation to special presidential envoy for climate from the U.S. Department of State. Thanks for joining. And Sharuk Shamim, co-founder and CEO of MVCOR. Thank you all for joining me here today. Now, Annie, I want to start with you. For our wider audience watching who may not know that much about the topic, can we talk about some of the biggest challenges the hard-to-abate industries face in this green transition? Let's start from the beginning. Absolutely. So I think mentally you did a great job of laying out what we actually mean when we talk about the hard-to-abate industries. There are really two things that we're talking about there. Usually we're talking about heavy transports. I think about long-distance shipping and trucking and aviation as well as sort of heavy materials and heavy industries. Reminding comes in as well as steel, aluminum, concrete and chemicals. What makes these sectors hard to abate and the reason that we call them that is because they can't use the levers that we traditionally think about when we think about decarbonization. We might think about energy efficiency or switching to clean energy. Those levers can be used for the hard-to-abate sectors, but they won't get us all the way to a decarbonized solution. The reason is that these sectors essentially have fossil fuels baked into the processes that they're using. So if you think about transport, you're going to combust fossil fuels in order to drive a car or take a plane or a ship. Similarly, when you're thinking about the heavy materials, oftentimes fossil fuels is actually an input into the processes that are being used or in some cases like concrete. It's actually a chemical output. You make CO2 and you make concrete. So it's much more difficult to actually get rid of the CO2 in these hard-to-abate sectors. So what we actually need to see in the hard-to-abate sectors is innovation, the way that we are doing these processes. The good news is that innovation largely exists. It's just not up to scale yet. So we need to have the will and the capital to actually scale these innovations and as well to think about how to do processes that we've done for a long time that might have heavy assets, expensive assets, with long life cycles. We have to have the will to make changes to those processes as well. And so how can we make those changes? What are the biggest barriers for that?  There's the need for capital in order to change these processes. And then we need to scale up innovation, which I know is something that we'll talk about today, actually take these technologies that have been proven maybe on a small scale and make them something that can be used at commercial scale. And so you are a member of the First Movers Coalition. So it's an initiative from the Forum, as well as a coalition of companies that create the necessary demand for green technologies and also supports the purchasing power needed to decarbonize tough-to-abate sectors. What role can governments play in advancing innovation? That's a great question. And I'll just say first, the U.S. government has been extremely pleased to co-launch the First Movers Coalition with the World Economic Forum and to now see, I think, we have over 110 purchasing commitments in the hard-to-abate sectors. So we're extremely thrilled about where we are today. There's a lot of roles that government can play, and I'll focus on a few. The first thing that government needs to do is to create policy and incentives that will encourage these changes, and the hard-to-abate sectors. If we look at the U.S., I think that's a great example of where we are leaning in on the required policies with tax credits, 45Q, 45V. These are ways that we're providing money to scale up carbon capture or to scale up hydrogen, which sort of underlie the hard-to-abate sectors' solutions. We also are providing direct funding for industrial hubs or for hydrogen hubs. So we are actually putting that policy and the funding behind addressing those sectors. I would also say the government plays a very important role thinking about infrastructure. If you think about, again, any of these hard-to-abate sectors, there's a real infrastructure component to them as well. So for shipping, you need bunkering. You need to know where those fuels are going to be if you're thinking about long-distance transport. You need to understand where charging infrastructure is. Similarly, you need to know if you're trying to do steelmaking with hydrogen. Where are those hydrogen pipelines going to be? So a little bit of clarity on the infrastructure. Government can support both in creating clarity so that you can make clear investment plans and also actually helping to push forward that infrastructure. The final thing that I'll say on what governments can do is that governments are actually also a major buyer when we talk about demand signals on the purchasing side. It's important for governments to recognize that in many cases we are the largest purchaser of concrete, of steel, we have fleets. So it's important for us to think about our role as a buyer as well. Now, the first move is coalition. It supports over seven sectors, including mining. So I just want to focus a bit more on the mining sector. Benedict, from a private sector perspective, how is collaborating with different governments beneficial for your organization in working to decarbonize? The mining industry, because it's in many host countries such an important employer and source of infrastructure, source of power generation. Biod's nature has a very strong stakeholder component.  In some cases, and we're in 20 countries, in some cases we're the only company that exists at that location, which means we provide not just for the jobs, but we provide for the medical services, for electricity supply, for water supply, for wastewater disposal. So we do a lot more than just the actual business, which means the public-private sector cooperation is inherent in what we have to do and where we operate. Now, the challenge is that governments, they obviously want investment and they want employment, but on the other hand, they also want mining companies to be a responsible citizen. Now, as we now see the supply chain for the energy transition virtually exploding.  This is the biggest purchase order in the history of the mining industry, the green energy transition, because just so much more material is going to be needed. At the same time, there's so many obstacles for us to expand our production if we want to raise to the top as opposed to raise to the bottom, because it's easy to expand production when you raise to the bottom. You just break the rules and a lot of companies do that. We see that every day. But if you want to do the right thing, it's incredibly difficult to actually expand production to bring more of these energy transition critic materials to the market and to do that in a sustainable way. And what we find in some of the regions we operate in Asia or in Africa or in South America is that the governments are very supportive and they push us for more investment but we don't actually get the reward for being good companies the way that we should be getting the reward for being the good companies. The challenge being here, it's a commodity industry, right? Commodity in itself means that the price is the same, right? Whether it's one unit produced with a very high carbon footprint or one unit of a certain metal produced with a very low carbon footprint, the price is identical. So there's no differentiation. So good companies, companies that try to do the right thing that actually do not get rewarded because a price for one unit of iron ore is the same as the next unit of iron ore. And that is a challenge if I can build on what Annie said. It's not just the hard-to-bate emissions that are baked into the production process and there's a lot you can do about electrifying your truck fleet. You can use renewable energy, co-generating in your operations. You can use different types of transportation. You can move rail as opposed to trucks. So there's many things you can do but there is inherent differences in the product itself. So for example, if you produce an iron ore which has a low content of iron ore, automatically your CO2 footprint further down the line in the steel process is going to be significantly higher than when you produce a concentrate that is very high in iron because that will mean you have significantly lower carbon emissions in the process downstream. And there's very little reward for that increment in being a better producer of a product that has inherently a better carbon footprint. So that needs to change and I think we need a lot more transparency around the provenance of the material, not just from an ESG point of view, but also from the emissions point of view. So we're working on that with a number of our partners, for example, at the global battery lines that I'm co-chairing, the 150-member multi-stakehold organization which was founded originally at the World Economic Forum. And we're working on a tool that's called the battery passport which for all the materials that go into a battery, end-to-end from cradle to grave, tracks CO2 emissions because the difference is huge and this way you can give consumers a choice and then there's an opportunity for price differentiation. And so you mentioned earlier that the total mineral demand for clean energy technologies will double as the International Energy Agency says by 2040 we think that will happen. So how else can you prepare your organization to respond to this demand and what are the biggest challenges? Well the numbers are staggering. The World Bank estimates that by 2050 the mining industry will have to invest an incremental 1.7 trillion US dollars into mining expansion infrastructure associated processing capacity and so on. Now that sounds like a huge number but for the mining industry that is an incredibly huge number because our average annual capex is maybe 100 billion dollars in the industry. So it's a tiny industry that gets hit with this expectation to be doubling production capacity in a very short period of time. So there are challenges on organizational design, on human resources, the industry is very short of talent because 10 years ago nobody cared, right? It was an industry that was the people from the dark side of the moon they're part of the problem as opposed to today we're part of the conversation, we're part of the solution or at least many people see us as that. So expanding the supply chain is going to be an incredible challenge but look it's a great opportunity for business and it's a great opportunity also for innovation because still today the mining industry applies very much the same technologies in extracting and refining and processing and transportation that they did 10, 15 years ago. It's inherently very conservative industry and we're trying to change that because innovation is going to make this industry so much more efficient and so much more capable in expanding and deploying capital increasingly complicated, technically challenging jurisdictions and geographies while at the same time trying to safeguard all the rules and requirements that are important under the ESG rule so it's a big challenge but it's a great challenge and a great opportunity for technology companies, for innovators, for startups to look at this industry and say hey let's shake up this dinosaur a little bit and see what it can do. And so that's a good transition to Vivec you're the director of then some group of mining company from India you're also co-founder of Prospect Innovation you've worked with startups in the mining space so why did you feel the agencies to start looking for technologies that would make mining more sustainable? Sure, so thanks actually and just going off of what Benedict said one of the things that I wanted to do when I joined our family business which has been around for over 70 years is seeing how we could actually improve our own operations and the natural kind of next step for me is to look at the early stage technology environment for mining as you would for any other industry you would expect to find venture capitalists you would expect to find incubators, accelerators, so on and so forth I spent a couple of years trying to do it and I found nothing and that was quite shocking to me considering the size and the scale and the dependency of everybody literally on this planet on the mining industry to have nothing of an ecosystem for technology and early stage acceleration, incubation it just did not exist and so that was a problem but also an opportunity but most importantly I think a responsibility so being also in this industry being part of a family business I have the need to think in generations and so therefore how are we going to continue to stay relevant and so four and a half years ago started Prospect Innovation which looks at early stage technology for the mining process what's interesting actually is that for the mining industry you're using the exact same technologies that people are talking about all the time all the very very exciting technologies that get headlines are actually applicable to the mining industry it's just that the innovators and the technologists are actually not aware of the use case in the mining industry because the industry traditionally has been fairly closed off and that's one of the things that we're trying to change and that's also where partnering with the forum actually helps in terms of changing that narrative and getting more people involved in the conversation and actually having a conversation to begin with so over the years it's been a short journey it's been about four and a half years we've now had about 30 companies roughly come through it from about a dozen countries so the technology does exist it's just hard to find and the question is how we can actually widen that funnel and expand the way in which we actually go through the selection process and actually match technologies with use cases which is where we have the unique position to be where we have both capital allocators as well as operators and producers so we can then match it and then bring these companies actually to scale and so what are some of the challenges that you've seen in this space when it comes to carbon reduction goals so I think the biggest challenge is actually trying to get people thinking about mining as a use case and as a TAM or total addressable market or a use case so the thing is if you look at the top engineering schools around the world very few of the the brightest that are coming out of it are thinking about mining as something that they need to actually work towards solving and what the interesting thing there is typically when you're starting a company you're looking for a use case where you have very low competition a big potential market and a way in which you can actually deploy what it is that you have been working on the mining industry offers all of those things it's just that again there's a lack of awareness and that in large part is also due to the industry and us because we've been more reactive and not proactive in terms of telling the story and talking about how critical the industry is and how with any industry there's good actors and bad actors but that doesn't necessarily have to mean that the bad kind of completely overshadows everything else unfortunately what the messaging has been so for us a big part of it is reaching out to companies saying that hey this technology is super fascinating and actually this is the use case in the mining industry would you consider actually doing that and playing a role in that matching and what happens oftentimes is these companies in where they are at that moment are competing against dozens if not more trying to solve the same problem where suddenly now you have a massive industry that could be one or two or three people actually working on it your chances of success are high and also given the scale of the mining industry every little incremental bit translates to a tremendous amount just because again of the size and the scale of the industry so in terms of just going back to your question the biggest problem I think is just that awareness and I think one of the best ways to kind of get over that is really getting more people involved and collaborating and making it more about and just the individual companies which is what in many cases has happened in the past Meneni do you want to build on that in terms of some of the other challenges that you've seen and what else can be done the biggest challenge in this industry to apply technology is particularly around emissions reduction the use case is important people are very conservative and no one's ever gotten fired for using the same production process he used 20 or 30 years ago so we need to get a lot more risk taken and innovation approach into this industry and of course as also demographics of this industry changes I mean I was appointed chief executive officer when I was 32 years old and I was by far the youngest person in this industry and today still 10 years later I'm still the youngest CEO in this industry so it shows that the demographics they're not actually not regenerating this industry is not getting any younger and that also means that there's to some extent less interest in trying out new things because you will not say the results 10 years from now we have to change the attitude towards innovation and of course a price the problem today we have is to reduce emissions in your production in your processing processing and in this approach there's very little reward for that other than being a very good citizen particularly today as we compete I mean one unit of a metal that's for example produced for a battery competes with all the other units of metals that are produced somewhere else in the world and for the consumer there's no difference whether this unit has been produced using lignite coal-fired power with a very dirty production process whether it's been based on hydropower you can't see the difference because you can't see the element looks the same so there's no reward for actually being better or trying to be better so the use case is trying to apply but also then being able to say this actually saves us money or this is a good business case I think we need to both we need market based mechanisms for more innovation in the industry so we need to bake that into the proposition so how can we reduce costs so I'll give you one example a member of the King Charles sustainable market initiative is a group of about 300 CEOs that are trying to apply market based solutions for for example for hard to bait emissions in industries so one big area that we think in our industry that will dramatically reduce the emissions is renewable energy today most mining companies still do not use renewable energy so of course it's inherent in the process because you need to have 365 days 24-7 because the plants always run a mine doesn't stop it's like a big refiner it always runs so you always need power and that makes it very difficult because then you have to have not just the intermittency problem solved but you also have to have storage now this is where the batteries come in so people talk about the impact of the batteries that have on the transportation sector reduced crude oil consumption replaced crude oil consumption by 1.5 million barrels a day this year it's already 2 million barrels a day that's the entire production of Mexico if you forecast this to 2030-2040 we're looking at a replacement number of something like 17-18 million barrels a day just by electric vehicles that's the entire production of the United States of America so it is having a massive impact but you need to have the same in renewable energy storage because that will replace a lot of units a lot of emissions in power generation we believe that transportation and power generation are roughly 40% of global emissions 30% of this you can replace, reduce by applying battery energy storage solutions in transportation and in energy storage and that will come back to the industry because obviously energy is a very significant part of our cost to make that sustainable is a clear objective and Vivek, back to the startups that you've worked with have you seen interest in funding for these startups? Is there momentum? Yeah, so it's an interesting question because hardware to begin with is difficult to fund because the gestation period is much longer than say software however what's been interesting is that so the last 15 months have been fairly difficult in terms of the fundraising environment for early stage technologies across the board what we've actually found is that a couple of our best performing companies have raised significant rounds at significant valuations in the last couple of months actually so what that tells us is there is a demand for it as long as the right product market fit is actually there so yes it is challenging but it is not impossible and I think this will only increase as there is more the conversation increases about what is needed and cost reduction for the material space as we grow to decarbonize and get to these goals right so if you just throw out numbers again you know if you want to get to these some of these 2040 goals you have to you have to mine from now until 2040 twice the amount of copper that has ever been mined in the history of mankind right that's a staggering number so you cannot recycle your weight out of this problem you can't massively increase just mining in order to get there it has to be a combination of several things we're not saying that innovation is the only way it's an important way and it has to be done but there are several things that have to be done simultaneously as well and the good thing about innovation and technology is that it touches multiple facets of this very problem right and so I think again it comes to awareness and having that conversation because the returns for just a financial investor are fantastic but also it's truly a case of doing well by doing good because all of these things are actually going to reduce the impact that we have in the environment and actually enable us as a civilization as a race to actually get through these goals that we've set ourselves because of what has happened over the last centuries right and so I think when you look at it it's still staggering that despite all of this you don't have venture capital funds that are focused purely on technology like this right you have several that are maybe looking across the board and this forms a small slice of it but yet you don't have any that's looking directly at this right we are hoping that that changes we're playing a role in doing that we're also investing significant capital of our own to do this but that's of course one drop in the bucket it has to increase and that's part of why also working with the forum helps in terms of increasing that funnel and getting it to a much wider audience because that's what's ultimately is needed we need to get much more people involved but the good need is the returns are there to actually justify that okay so now I want to go to an entrepreneur in the mining space Sharuk you're the CEO of a startup called MVCOR which helps to repurpose the waste created by the mining industry and you're also part of the upland community you're selected as one of our circular economy innovation challenges so can you tell us a bit more about what your company does and and the problem you're solving definitely thanks for having me so we are Calgary Canada based company and our whole focus is and we are strong believer of cradle to cradle so we take waste or technically it's raw material for our process and we convert that into low carbon cement material so this raw material can come from any sources be it mining waste basically after any hydro metallurgical operation we can work with pretty much any energy transition based metal waste or maybe it's coming from precious metal waste apart from that we can work with construction industry waste simple demolition waste or pretty much any smelting slag coming from nickel copper or any other metal smelting units we take that material we convert that into a cement replacement that can go as high as 40% basically reducing a lot of built carbon or embodied carbon in built environment additionally what we've been constantly trying to do is to push this technology to a very big commercial scale so that we can prove the viability and also the sustainability of the process in reducing the carbon emissions from both mining and also from the construction industry and what are your biggest needs right now as a startup how have you seen the environment going for you the startup for us typically for any startups like funding is a major major need apart from that I think the government support specifically operating in mining and both in construction where this is pretty much regulatory driven so having that support from government side where regulations doesn't act as a hinder or block for us rather than as a support so that's really important and then also tagging on the point that for us incentives also matter a lot like the way that we produce our SCM versus the ones in the market we have to differentiate between the benefits of our material compared to what's already in there so there should be some sort of like support additional support provided either by the government or maybe simply in the industry itself and what inspire you to start this company so I actually came from India in 2016 to Canada and I saw oil sand tailings which is actually in our backyard pretty much in northern Alberta and the tailings that was getting produced and during the oil extraction process it was getting stored in massive ponds called tailing ponds when we saw the volume of it it was around 1.6 trillion liters of wastewater just accumulated in a land of 220 square meters in footprint this problem itself was massive so that's when we started with this initiative that let's go after this particular industry and try to solve this from a sustainable perspective to reduce the inventory of these waste getting generated from the oil sands and then we basically started realizing that it's not just one industry or oil sands the metal mining industry exactly producing a similar or even higher quantity of waste material that can simply be now reused or helped us into a useful product for another industry so that was a big motivation for us and then Government of Alberta actually came up with a much needed support at that point of time to help us getting that platform so that we can start working on commercializing our technology And what importance do partnerships and collaborations have for your company? Oh those are the most important things for us and we always strive for collaboration because we really believe that in this case if we want to make a meaningful impact we have to do it with collaborative efforts with major stakeholders for example we are working with major mining companies in North America, Latin America also in Europe and in Asia and with cement companies as well in the similar regions to make sure that we can identify the market we have the major people already involved in the project who can not just support from yes we are giving you the permission to operate on our land but also the much more operational support because as a starter we really need all those kind of like help from not just regulatory perspective but also from a scale up perspective as well And Vivek back to you we are happy to announce this partnership with the Vimson Group house spec innovation here with Uplink at the World Economic Forum we are going to be working together on selecting and supporting entrepreneurs in the sustainable mining space so what do you hope to achieve with this partnership you mentioned a bit before you can add on to that sure so thanks for that and it's something that we are very excited to commence I think ultimately what's needed is to get this at a global scale and I think Uplink which is what the World Economic Forum has built as a platform is tremendous in terms of increasing that visibility and widening that funnel so what we hope to achieve is a number of things so over a series of challenges of the next several years what we want to do is figure out specific use cases and specific problems that the industry faces and then have technologists and entrepreneurs really address them because again you know kind of taking that you know moving it out of this sort of black box type situation where people aren't aware of what these problems are even though they have solutions that can actually address them is one of the things that we are trying to do right so it's also exciting because there's a lot of technology that just has to be tweaked a little bit for the use case and mining which again I think will form a big part of this so in terms of what it is that we want to get done there's several areas I think that are quite important first of all just the exploration side of things I think is very crucial because we are going to have to find new deposits because existing deposits are getting depleted which makes it harder and harder to actually mine them and that obviously increases your footprint for example to figure out if there's a better way to deal with tailings and waste because that's a huge it's now looked at as a problem but it could actually be a huge source of raw material so that's another possible area that we would look at so similar to that there's several things that we are thinking about which we will in new time launch but I think that's something that it's hugely exciting because it should hopefully really multiply the effect that we've tried to have we've had 30 odd companies in the last several times to do more than that in a much shorter period of time through this collaboration and I think what it does is not just bring in startups but also most importantly brings in the industry to actually work together and collaborate and have these conversations and most importantly actually take a chance on these startups and actually pilot them, invest in them and give them a shot because ultimately it's not just about how much of an impact they are going to have but ultimately these are going to end up saving saving these companies massive amounts and contributing to their bottom line so it's truly going to be that double or triple bottom line and that's something that we're very, very excited about Very exciting, thanks so I'm on uplink and our challenges we have right now a sustainable aviation challenge open so before I get to the details of that, Annie, talk to us a bit about more talk to us a bit more about aviation and what are the biggest barriers when it comes to decarbonizing the sector Yeah, so aviation, I mean all of the hard to bait sectors are complicated and aviation is no exception I'll give you a couple of the barriers that I see but recognize this is not exhaustive, one of the first ones is something that I think we've heard a lot about in the conversation today with regards to mining and that's cost, sustainable aviation fuels or other ways of decarbonizing aviation are expensive and there's a question of how we're going to split that cost across the plane, so how much is going to be born by fuel suppliers versus by airlines versus by cargo carriers or passengers and we need to figure out how to split those costs across the value chain for something that we might have historically thought about as a commodity Another thing that I'll just mention in terms of decarbonizing aviation, one of the solutions that we hear a lot about is sustainable aviation fuels what we often think of as sustainable aviation fuels biofuels and advanced biofuels they're going to have issues scaling to meet the entire need of the of the aviation industry for reasons about trying to the amount of feedstock that's available it's just going to be difficult for sustainable aviation fuel to meet the entire need so there's really going to need to be a portfolio of solutions in order to meet the aviation problem so that will include other pathways like power to liquid as well as some of the other innovations that we're looking to spur through the aviation challenge essentially we need to continue to innovate and find a whole suite of solutions that can help us to meet the entire need of the aviation sector which is immense there are many other barriers as well regulatory is one that comes to mind I probably won't go into those because we could have a whole another session on it but we'll stop there It seems like a huge sector also that seems almost insurmountable like there's just so many parts as you mentioned across the chain to get to that so I'm wondering who else needs to be involved to get to this point you know there need to be almost every stakeholder needs to be involved and we are already seeing that today we need to have airports involved we need to have local governments involved we need to have the federal government involved we need to have internationally have folks involved and we're thinking about different flight paths that's going to be very important different corporations we need to have suppliers and buyers involved and all of that is beginning to happen but that that partnership and that value chain building and the bringing together of many stakeholders is a really critical next step that needs to happen in order to meet the need of aviation and do you think we'll do it on time you know we're a bit tight on time will we have it ready here's what I'll say and I wish I had a crystal ball and could give you the complete answer on that but what I will say is we're seeing really promising coalition building right now actually just recently a number of first movers coalition members eco lab Bank of America I know that I'm forgetting somebody and it'll come to me and I'll and Delta I was going to say I'll tell you who it is launched a staff hub in Minnesota and they're really working to work with Minnesota to work with a number of different stakeholders to both invest in R&D to invest in actually building out the sustainable aviation fuel and the other aviation technologies that are needed to meet the challenge and we're seeing more and more of that hub approach as well and thinking about specific flight paths to get started so you know we need to continue that momentum but we're you know luckily seeing that begin to coalesce on the ground now maybe if I can just build on one point here what we believe we'll be seeing and we see this as the work we do with the global battery lines is the rate of innovation in the battery sector is going to make electrification of the airline industry a lot more feasible in the next few years and of course when you start with shorter areas you'll have support batteries that give you more range and so on but there's a tremendous amount of innovation the rate of innovation in batteries is absolutely staggering who would have expected ten years ago that you can drive a car for six, seven hundred miles today an electric vehicle so you would expect something else to happen in aircraft as well because right now in aircrafts the batteries for airlines are quite short but the time for flights with the electrical airplane is quite short short flight time short flight time so hopefully in a few years we'll get to it hopefully Benedict will solve that there are also some interesting startups in that space as well and electrification of aircraft exciting so on the topic of startups I want to touch a bit more on the sustainable aviation challenge that we have open on uplink so we're calling for tech solutions including sustainable fuels, propulsion technologies and value chain innovation so what did these startups really need to scale and how can we make them commercially available globally? Well the first answer of course is funding capital I think that we hear that across the board what I hope that this challenge can bring and what will be important and again this is a drawing on the theme of this conversation there needs to be the demand for these technologies that may be more expensive we need to know that there will be a market for them if they come to market and that can help actually a startup to make their own business case and to invest further if there's clarity that there will be a buyer on the other end so one of the things that we're hoping to do with this challenge that I hope to see is a real connection with the folks who are looking and actively seeking for asking for these innovations that'll be a part of it and hopefully that can help to make a stronger investment case for the startups who do join this challenge and that will be one important part of the solution okay so for our audience watching if you have an innovative solution to help decarbonize the aviation industry head on over to the uplink website to find out more about the sustainable aviation challenge and you have until the 2nd of October to submit your solution so out of all the submissions 10 to 15 winners will be selected and they'll become uplink top innovators they'll benefit from connections to industry buyers and access to market leaders potential partnerships that can help them grow so they'll also become part of the uplink innovation ecosystem which will give them access to selected world economic form of events like this week's SDIM meeting and get targeted support, networking and visibility opportunities now I'd like to ask one final question for all of you in a year from now what would you hope we're sharing as far as progress is concerned when it comes to accelerating innovation within these industries sure so I guess more of what we've been seeing which is more appetite for investment more appetite for actually entrepreneurs looking for solutions and working on solutions for the mining industry more appetite from mining industry players themselves to actually take these on fund them and pilot them and I think also a shift in the narrative from the mining industry having this stigma to actually then being seen as actually part of the solution because it is the very beginning of the supply chain and there's a lot of conversation happening about sustainable supply chain so I think a shift that has already taken place but hopefully accelerating of that shift on all those counts yeah I think that was a great answer I just say I hope to continue to see the momentum that we're seeing now keeping up not letting down that investment appetite like we mentioned the investment space is in a bit of receding a bit right now but for very early stage innovative solutions the investment appetite is actually growing and we saw that in the last year so I hope we continue to see the acknowledgement of investment need for investment innovation I also hope that by this time next year when we come back to SDIM we're talking not just about the appetite of potential buyers but we're talking about projects and partnerships and really specific announcements that have grown from the recognized need today probably three things I think we're going to see a lot more collaboration across industries and within industry sectors so end to end because you need to have a more collaborative approach to this than to many other problems so actors that actually can never play together they're now starting to have this conversation which is great the second thing is you'll probably see more geographical diversification of innovation today the vast majority of innovation in green technologies come from China by far because the largest renewable energy markets the largest producer of batteries in the world the largest producer of electric vehicles today this is the center of the renewable energy the green energy transition most people are not aware of that it's also source of over half of the investment in the mining industry it's all about China we're going to see more diversification to other regions as well which is great because there's going to be more innovation and of course the third aspect we'll have to see more investment going into the space and investment that should not just go into new technologies for new industries for emission reduction but there's so much efficiency gains you can have in the historic original energy transition and the energy systems so things like flaring one of the biggest sources of emissions it's got nothing to do with the renewable energy and it's such an easy problem to fix with money it's an engineering problem it is not a regular problem it's an engineering problem which means you throw money at it you can solve it so there's so many things we can improve in these hard to abate industries that are actually not so hard to abate it just takes funding and implementation which is something the private sector is usually very good at if you let them do with this so from a startup perspective I really believe that we'll start seeing a lot more collaboration from the mining industry we've already started seeing it since last year for us itself whenever we are talking to any mining company the openness we can clearly assess that they are now really moving from yes we are conservative industry to more like yes we really want to innovate and this is happening not just in the mining but also in the construction industry where a lot of initiatives are coming where they're actively pursuing even early stage technologies where they can nurture them and basically take it forward to do at a stage where they can commercially deploy it so that's definitely kind of be accelerating in the next year or so and then the funding is really important like for a lot of startups even in the pre-seed or seed stage like we are looking at really good deals happening with very good valuations that actually gives incentive to entrepreneurs to start working towards like solving these type of problems so definitely these two aspects would be accelerating in the next year or so well that brings our session to a close thank you so much for joining us and joining me today here in this session thank you and I want to thank you all the audience for being with me here today as well to talk about big challenges in the tough to decarbonize sectors there's still a long road ahead however as we've just seen accelerating innovation through collaboration and through key initiatives can be a key driver for the transition towards net zero so if you'd like to learn more about how to support purpose-driven entrepreneurs that are trying to tackle some of the biggest issues facing our planet such as water security the conservation of nature protecting the ocean the circular economy and many more topics make sure to visit uplink we'll leave you now with the launch of the video of the sustainable aviation challenge thank you so much for tuning in we'll see you next time we're now facing the challenge of preventing flying for a net zero emissions future we will need new propulsion systems running on alternative fuels new materials new aircraft designs and operational changes that can deliver emission reductions it will take a lot of great minds to decarbonize aviation and we're looking for the best ideas out there we're looking for three types of main innovations sustainable aviation fuel and other novel propulsion technologies that's kind of the first bucket the second are value chain innovations anything from feedstock to combustion and propulsion all the way through market infrastructure that helps us transact environmental attributes at the end the third bucket of innovation are those innovations that come from other sectors that we can apply to decarbonize and revolutionize aviation what we're excited about is that the innovators will also benefit from the collaborations with the supporting partners which represent some of the most innovative leaders in aviation and that will look like things like technical support business support and financial support


An Ethiopia's new website at this standard says it has been given approval by the government to resume operations this week. It had earlier been suspended over accusations it advanced the agenda of fighters in the Wharton and Northern Tigray region. The English language website and monthly magazine is reporting that Ethiopia's media regulator admitted legal missteps in revoking its license, and the Ethiopia media authority has warned media outlets not to refer to the Tigray people's liberation front as a national army.


From around the globe, it's theCUBE with digital coverage of IBM Think 2021, brought to you by IBM. Hey, welcome back to theCUBE's coverage of IBM Think 2021 virtual. I'm John Furrier, host of theCUBE. We're here with Madhu Kochar, who's the Vice President of Product Management for IBM Data and AI. Also, CUBE alumni, great to see you, Madhu. Thanks for coming on theCUBE remotely, soon to be in person, I hope soon. Great to see you. Thanks, John. Obviously, very, very happy to be here.  Yeah, I can't, we've had many conversations in the past on theCUBE about data, machine learning, now more than ever, it's prime time. And as companies put the AI to work, you know, they're facing more and more challenges, especially with the growing data complexity and also equality. What are they doing to solve these problems today? I mean, as cloud scales here, it's transformation innovation, cloud scale, still complexity, what are they doing to solve this? Yeah, you're right, John, right? The data complexity is just becoming overwhelming and it's threatening what I would say progress and you would agree to that, right? As organizations are struggling to turn these complex data landscapes and to get some sustained value out of it. And it's becoming costly. And I believe the worst of it is because at the rapid pace of digitization is happening, right now generate, the data is just getting generated at higher velocity, all different types of data and all different touch points. And traditionally, you know, trying to move, replicate data, integrate data and bring it all into the big data store is just not working out, right? It's becoming costly. And the stats shows that 97% of enterprise data is still not trusted or analyzed. And with all the movements happening onto the migrating of data to multi-clouds, it's just adding a lot of complexity. Our point of view always has been, we've been talking a lot about hybrid. And to me, hybrid approach is the one that truly accepts the reality that data will be everywhere and it's going to be changing by the minute and it turned and we have to figure out how do we turn that problem into an advantage. To me, automation is going to be inevitable. And what we truly believe in is like you got to leave the data where it is, bring AI to your data. And that means what's AI for business here, right? So that truly means that you have to be able to understand the language of the business, automate workflows and experiences and truly deliver the trust and predictability in these outcomes. That is where John, I firmly believe where we need to be going. My dear, you know, that's so right on. And I think the business case is well understood. What's interesting is that we were talking to some other IBMers about autonomous shipping, about ships that are being powered by automation and getting all that data and integrating in all kinds of diverse sources is also a business challenge. So autonomous vehicles, autonomous everything these days requires massive amounts of data ingestion and processing and insights and operationalizing and decision making, all kind of coming in. This is like the holy grail of automation. So I have to ask you, what is the IBM's perspective on managing data that exists in different forms and across different environments in an organization? Because this is where the diversity comes in. And it's actually better for the data because AI loves diverse data because the better the data, the better the AI, right? But it's still complicated. How are you guys looking at this perspective of managing data that exists in different forms? Yeah, no, that's a great question. And I think this is where we need to be thinking about what we are talking about here is that you need what I call an intelligent data fabric. Data fabric is a term which is just picking up in the industry. And the definition, which I would say an intelligent data fabric is what weaves together and automates data and AI lifecycle over anything. Over anything means any data, any cloud anywhere, right? And what do you get with this? What you get with this is that you're able to then unlock totally new insights from unified data. You're able to democratize your trusted data usage across more people. You unleash truly productivity, right? And you reduce cost and risk and you make AI for business easier. Like I was talking about you bring your AI to the data. It's all about AI for business. You make AI for business easier, faster, and more trusted. And underneath the covers, automation is what's going to help us to scale all this. So by truly bringing the intelligent data fabric together which helps us automate and view all these things is going to be the answer. You know, I love notions like democratizing, trusted data usage and unifying data and getting all those insights because that drives the value. I'm sold on that. And I love it and I understand it. The question I have for you and I've heard this term and I'd love to get you to help me define it for the audience. The notion of distributed data life cycles. Can you describe and define what does that mean for an organization? So truly that would just mean, right? Like I was talking about what is intelligent data fabric. This is all about data is everywhere, right? It is in your operational data stores, your data warehouses, and now with spans of multiple clouds, you know, people are moving their workloads to various clouds, it's everywhere. When you have to make a decision, you have to be able to have access to all that data, right? You have to keep in mind, what are your data privacy rules? What is your data residency rules around it, right? And how do I make, how do I analyze that data? How do I categorize that data to have some business outcomes, right? And anything what you're doing right now, it's going to require AI to it. How do I apply AI to where data lives? That is where the whole aspect of the intelligent data fabric needs to come into the picture. Yeah, and my next question is around some of the new announcements that you guys have here at Think and I want to get this new upgrade, new data pack announcement because I think, I mean, cloud pack for data, because having data become operationalized is much more sensitive than it was in the wild west in the early days, like, hey, the data is everywhere. People are concerned, you know, and there's compliance, there's risk and getting sued and different sovereignty issues. So, you know, you guys have had this IBM cloud pack for data for a few years now, helping clients with some of the data challenges. I think we've talked about it. You guys are announcing more here, the next generation. Could you explain this announcement? Yes, yes. And yeah, you're right. Cloud pack for data was announced about three years ago. We launched it then. Many customers in production with that. So very proud. And it really, cloud pack for data in simple terms is all about your data platform and analytics platform, right? So at this think, we are announcing what I call the next generation of cloud pack for data. A lot of enhancements going in, but I would like to focus on three top key capabilities which we are bringing in. And it's all about how we are weaving together as part of the intelligent data fabric I was talking about earlier. So the three capabilities which I want the audience to walk away is number one, auto privacy. What does that mean? It means how do we automate, how you enforce universal data and usage policies across hybrid data and cloud ecosystems of various sources and users and how to express that to users in business terms. And why? Because this is going to further simplify risk mitigation across an organization of self-serve data consumers. So that's all about auto privacy. The second key capabilities will be around auto catalog. Very, very critical.  This is where how we automate, how it is that the data is discovered, how it's cataloged and enriched for users, relevance of maintenance of knowledge for business ready data, right? Which is spread again across hybrid sources and multiple cloud landscapes. The third thing very critical is what we call auto sequel. This is how you're going to automate, how you access, update and unify data, spread across distributed data and cloud landscapes without the need of actually doing any data movements or replication if it's needed. So, and part of that data access is also needs to be, is it optimized for performance, right? Can I get to the petabytes of scale of data and how does the visual query, building experiences look on top of that? So we are just so super excited about obviously with Cloudpack for data with this new enhancements, how we are meeting the story around with data fabric, intelligent data fabric with three things, right? Auto privacy, auto catalog and auto sequel. And John, this is also on top of what we've been also talking about auto AI for a while and this is all about AI life cycle management. There's going to be tons of enhancements coming in as to how we are simplifying federated training, right? Federated training across complex and siloed data sets is going to be important, fact sheets. How do we improve the model quality and explainability? That is going to be very critical for us and the time series optimizations. So all these auto stuff, we've done with our intelligent data fabric is going to be our next generation of Cloudpack for data. And I must say, John, a lot of our clients are early adopters, early customers been giving us the fantastic feedback and it's like, this is what's needed. And you mentioned that earlier, right? Complexity is known, everybody wants a solution. What a great way to get these quick outcomes of the data, right? We've got to monetize the data and that's what it's going to lead to. Madhu, it's very exciting, great insight and congratulations. I love the auto name and autopilot, auto AI, just it sounds automated. And I guess my final question for you is one that's a little bit more current around hybrid and that is the big theme that we're seeing and we've been reporting and kind of connecting the dots here in the cube through all the different interviews with you guys and all your partners is this ecosystem dynamic now with hybrid cloud is more important than ever before because cloud and cloud operations is API based. So more and more people are connecting. So is this where auto privacy, auto catalog and auto SQL and AI connect in? Is that where it's relevant? Because hybrid cloud really speaks about ecosystems and partnering because no one does it alone anymore. Absolutely, you hit it on the nail, right? Hybrid is all not just about on-prem and one-cloud. It's all about intra-clouds and intra-clouds and everywhere. And that is where the data fabric helps us, right? And that auto privacy meaning your data is spread across. How do I understand what are the policies across? How do I respect my data residency? So exactly to the point that is what this gives us the solution. That's awesome, Madhu, remember the old school? Inter-networking was a category in the industry, connecting networks together. Now we have inter-clouding, inter-data ops. So all good, exciting. Thanks for coming on. Really appreciate your insights.  Great job and looking forward to hearing more. Thanks for coming on. Thank you. Thank you, John. Okay, Madhu Kochar here at VP of Product Manager IBM Data and AI. The hottest area in hybrid cloud, of course, is the CUBE coverage for how you think 2021. I'm John Furrier. Thanks for watching.


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I'm pleased to see this family behind me where we actually see faces of young people because that's really what it's about. So I hope that when you're pedaling and pedaling hard through the wind and the rain, hopefully some sunshine. I know I heard the weather's not going to be perfect, but when you're pedaling and you know why you're doing this, it is for those faces that we see behind us, the smiles that you will bring to them and to their families when they know that the monies you've raised will allow them to participate in sports, that you're removing those barriers that otherwise would be put in their way. And you may never meet those individual children, but knowing that that's what you're doing I think should get you to the end with not too many sore bones or too many bruises along the way.


On April 29, 2021, heavy rainfall resulted in the collapse of a section of the body of a ridgeway, as you can see to my back. As the Department of Infrastructure seeks to restore this section of the roadway, we have encountered a few difficulties since the project began on December 1, 2021. Aaron's heavy equipment rental is limited is the company contracted to undertake the project. It comprises three stages, drainage works, slope stabilization, and the road reinstatement, and the final phase. Engineer Chanel Fevery is the project's manager and represents the Department of Infrastructure, Ports and Transport. Currently, the phase that we're dealing with now is the slope stabilization. We know on April 29, 2021, there was a major landslide, which caused us to lose half of the carriageway, and currently what we're trying to do is reinstate it as soon as time possible. The challenges experienced by the contractor since the December 1, 2021 commencement range from the weather to balancing the ongoing works with the safety of both motorists and workers. Taking into consideration where we are, we're in the rain forest. So it's constantly, you made moisture, it's constantly raining. Also the terrain that we're dealing with, it's an unstable slope. If you notice to the back of me, we have not closed the road. It's a major thoroughfare, it contributes to economic development, so we cannot close this road. I mean, being here from December 1, every 10 minutes, we find a container truck or construction truck moving through this place. So it's not possible for us to close the road, and with the heavy equipment, an unstable slope what we have is a lot of vibrations. So you understand the difficulty, the sensitivity of this kind of project. One unforeseen challenge was the presence of subterranean water, owing to the Vardlil's high water table as a result of the constant rains. To compound the situation, there has been further slippage since the slope stabilization project commenced. Some slippages, and like I said, as a result of, we have rain. So the soil is saturated. We also have heavy equipment trucks going up and down through the vibrations. So we've had to have some places on the site where we had shoring to protect the workers who are working at the bottom of the slope. Okay, that's it. I understand there have been issues with motorists stopping, the curiosity being pined at the border. Oh yes, we've had that issue. I think on modern one equation, we had motorists actually stopping, parking their vehicles and coming out on the side to take pictures, and we had to explain to them the nature of the site. They're not allowed to do that because what they do, they also hinder the traffic coming up, hinder the flow of traffic, and what we don't want is all that traffic piling up in an unstable slope. Despite the challenges, however, the project manager says the project is steadily progressing. Motorists are advised to exercise extreme caution when traversing the Bodle Lille, particularly in the vicinity of the ongoing works. The project is expected to be completed by the end of March 2022. Reporting from the site of the Bodle Lille Stope Stabilization Project, I am Miguel Fabri for the Ministry of Infrastructure, Ports, Transport, Physical Development and Urban Renewal.


Good afternoon folks, this is Steve Rhodes coming to you live from the shores of sunny Delray Beach, Florida. This year, 2 p.m. update, and currently we have all the U.S. indices that we track, trade in the downside. Downs off 788 points, soon a half percent, S&P down 3.5, 132 points, NASDAQ four and three tenths or 500 points, four and six tenths percent for the Russell, 6.7 percent for the Semis.  It's not carnage, we're going to take a look at Goldilocks, up 30 bucks, trading at $18.49, on his way to $18.70, Silver's up 45 cents, that's trading at $21.87, let's recruit up to $2.00 and change, $1.17.42 is the print there, natural gas up 6 pennies, 30 treasures up 23 ticks as well, she's trading out at $13.303. So where do we want to go to next out here? That's a great question. Let me see if I've got my indices charts up. Do I? I do not have those up here. So the only indices charts that I do have, we did this during the Trader Z show, let's go do it again out here, again just to kind of give you a feel for where we're at, and that's the bigger picture. So on the bigger picture out here, we're going to change windows, try to do this relatively quick, and that bigger picture shows the Dow in the upper left hand corner on a yearly basis, we're below last year's low, that is a bearish signal. That says longer term, the Dow wants to target $24.843. We'll get that signal if we see a weekly close below $30.04, that's a TD9 count breakout level. There's no bottom signal, so if you close below that breakout level, you head to the next breakout area, and it looks like that could actually be in the $24.843 level. We're in bar number seven on a daily basis for its TD9 count, so you could get a bottom pattern that forms between tomorrow and Tuesday out here. If we go take a look at the S&P 500, let's go switch our screens out here, the S&P 500, what we will see is that price on a monthly basis is trading below its TD9 count breakout level. Now it's early in the month out here, but if we do get a close below $37.23, its message is $29.65. We take a look at the weekly chart, prices below second breakout area, which was at $38.19. It could get a big rally, obviously that would be a gigantic rally, tomorrow I don't think that's in the cards. So the signal here inside of the S&P from a weekly standpoint is that price wants to go target the $32.79 level. Folks stay tuned. Your favorite polar bear, David Weitz up next. After that, Tom O'Brien will take us on home, and I'll be back with you tomorrow at about 8 o'clock sharp. So please tune in early then. If not, I'll look forward to seeing you on Tuesday because Monday is a holiday. Take care folks. Have a terrific Thursday.


Now, Nigeria's stock market would enjoy the strong first quarter with returns exceeding 39% is expected to face headwinds in the second quarter of this year. Now, analysts anticipate a slowdown driven by three factors, rising fixed income needs due to the CBN rate for hikes, a decline in dividend payouts compared to Q1 and the potential dilution of darkened stocks due to the recently announced recapitalization exercise. At the end of the first quarter of 2024, the Nigerian stock exchange gave return to 39.47% despite a double rate hike by the CBN. However, at the end of the first trading week in the second quarter, the equities markets saw bearish sentiment which continued on Monday, with the market decreasing by 0.38%, or 222 billion at the close of trading, pushing lower the market's return year-to-date to 37.81%. The monetary policy community MPC last month raised a monetary policy rate, MPR, to 24.75%, representing a 200 basis points increase. On the show today, we will review the first quarter performance and outlook for the second quarter, banking and the impact on the market will come to Business Insight and Plus TV Africa. I am Justin Acadonia. The Nigerian stock market has experienced a bullish trend since the year began this year, but witness and significant capital gains for companies affiliated with some of the nation's prominent entrepreneurs, including Tony Illumelu, Femi Othedola and Jim Ovia, throughout the first quarter of 2024. These companies are Zenith Bank, United Bank for Africa, UBA, Epi and Hauden's transnational corporation of Nigeria and Transco hotels, which alongside other firms contributed to the impressive $159.13 trillion capital trade volume on the Nigerian exchange limited this quarter. Collectively, these companies owned in part by the trio saw their capital sold by $2.64 trillion on the NGX by the end of this quarter that just passed, while Othedola, Illumelu and Ovia may not be the sole stakeholders of their respective companies. The capital gains are intricately linked to the overall performance of the NGX. My guest, Ambrose Omodion, is the chief research officer at Invest Data Consult and Limited. Ambrose is a well-respected investment and company analyst with over 20 years of experience. He is known for his work as an equities analyst, his training sessions for investors and his weekly webinars. He is also a prominent expert on the Nigerian capital market, providing analysis and insights to investors, the government and market regulators. Ambrose Omodion joins me now to discuss further on this recent development. Many thanks for joining me, Ambrose. That's what I've been meaning, Dostoe. Right. These indeed are leisure. Let's just dive straight into it if we may now. The Nigerian stock market gained 39.8% in the first quarter of 2024, becoming the second best-performing stock amid economic headwinds. What does this really mean for the nation's capital market, despite a double-rate hike by the central bank of Nigeria? Actually, it tells you that the market has its own life, despite the economic experience of headwinds. I think that our market is now returning good gains for the investors. That's why every investor in the Nigerian market should understand how to invest intelligently and also follow trends. Don't forget that our students will call December, which was extended to the month of January. And also January Galloping is a lot of work, expectation of earnings, and also also that the other performance of the listed components for the previous year was also in green, apart from the Maron Center that has no FFs losses. That also triggers investors' expectations that yes, we have to see a better number from these components. Yes, we know that during the previous year, as from September and November, the ICPN was also a friend that banks will not pay from their FFs gain. Investors will have a pattern in those things into their work, you know, in their decision. But for the month of January and January market sales retreated as well at the pace of all over the world, which was acknowledged by many investors. But in the month of February, we saw the market pulling back at the rate of profit taking. Any market in the world, this is the dynamics of the market. We saw that the market has really set to be worth a pullback at the rate of profit taking or also information that we want to diversify that goes from that new sector or another instrument. But we saw that in the month of February, it was the profit taking in the market, or in the month of March, it was the rebound. And that was a set of what listed the company, especially the power company from Transcore Power. It impacted the index or the month of March, which also had capital, no rebounding powerfully. We saw the life of Gregorio Guguenasaya, so 1,000 Naira, no production amount. That also impacted the index, and it turns the worth of money forward for investors. But in the generation, we saw that some industries or some folk called the Settura Index saw a pullback because of all profit taking also. But the book water for the first quarter of the year, firstly, is a good market for Nigeria. And that also have given an insight, woke respect in the month of April and the second half and the second quarter of the year, but not, no, investors are not panicking. Like I said earlier, in the month of the first quarter, we saw about 600 basic points increase in rate. And anywhere in the world, when you say high, high in rate, it's a capital market that is very good, but it has suffered for it. I will tell you, they have correlation on that. When there's high interest rate, no, we see that interest moves toward to free loan, how we call it, free asset or low risk asset, let me put that way. In any business, no, totally free, because even if they're born, they're running to the 21st century. There's also a risk. So, no, don't forget what's going on in Ghana. Sometimes it's not like where is less risk enough to move their money because of all interest rate other than high. And also, the rate of high also by the recipient also also to kind of checkmate inflation at the same time attract foreign investors to the economy. Today, we can see that the inflow of, you know, FS has also helped the recipient to manage the, you know, the crisis was experiencing in the exchange market. But for me, that is just a little thing in solving our problem. We need, we don't want to attract foreign investors with high interest rate and push the economy towards the contraction. As I speak now, the private sector already know crying out, there's no confidence because all funds are going to work to the fiscal market, fiscal instrument, because of high interest rate. That means we are trying to satisfy the foreign investors and also checkmate inflation or the expense of the economy. We do not suggest inflation is having a toll on the economy. We need to balance the ratio. So when we saw the basic point high, you know, the economy will go in for it. All right, let's try and get some sectoral review and get some indices and analysis as well. You know, for instance stocks that surpassed the NGX, ASI include the Gary Gupa, which accounts for about 150.6 percent dangote cement, about 114.7 percent in Boa cement amongst other ones. But I want to, I want to get your analysis now, your review of the NGX 30 and plus somehow the, you know, the banking subsector actually did for the first quarter. No, we talk of NGX 30, but I think of the what we call the Bluetooth company. This is a talk that, yes, you know, every investor that look at and want to look at with an entry in the digital market because of the liquidity in those stocks in that NGX 30. And they perform well for the month of, you know, the month of the first quarter of the year. But what happened is that you mentioned the Gary Gu, mentioned a dangote and Boa leading the world, the gain has started for the quarter. I'm not surprised. The billionaires in Nigeria, you know, they know how to move because they want to maintain their, their routine in the global market reality when they come to for another stock. And we'll see how, you know, Gary Gu taking position in dangote cement, move that stock from as low as a, notary and easy to almost a modern era before pulling back now a threat of profit taking. Also how they also move. Gary Gu move not because of performance, it's because of the personality behind this company. Also Boa, it's not because the performance are standing in the market, it's because of the personality behind that. And also the good is short talk. For example, it's a matter that if share initial, you know, available to the market, it's very small. Right is bad to go up because this stock is not available in the market. And these billionaires are the ones that own this market. And when they move up, their, their routine will also improve. And that's why the source, source talk, that's why investors in Nigeria should also go with the billionaires. I say, you know, invest when you want to invest with caution.  That means if you want to really make money also, actually by passing your post below, you need to also identify with these billionaires and know how to take their stocks in your post below.  Because most times if you have the billionaires, they are going to have a profit. For me, it's a good thing for the market that we are seeing this personality behind our head. And that is also imparted market positively. All right. Let's still talk about banking, for instance. The NJX Banking and the NJX Insurance Index appreciated by 14.76 percent and 26.2 percent year to date, respectively. But in the wake of the CBN recapitalization and the bank's agenda, all of this likely to affect, you know, their stock value. For the banking sector anywhere in the world, you know, don't forget that the bank's and NJX opening economy, even if we have nothing to expect in it, it's going to be a boost for investors to understand how to develop their knowledge. I believe that when the performance was sought in the first quarter, yes, we might see some missed performance in the amount of, you know, people in second quarter of the year. But don't forget that all eyes on the advance to provide the CBN with the recapitalization agenda for their plan to recapitalize that will open investors' eyes on how to invest in banking stock. But for insurance, insurance is enjoying no positive increase in their premium that was done in late 2020. That was December 2022. That impacted positively on Q1, Q2, Q3 of the insurance company in 2023 and that are reflected on their numbers. Which I know is going to continue also in 2024. That is why a good investor should do what we call sectoralization and also the plans of their portfolio. You see funds leaving the market now for through a future market. As more information is on the way to the market, I believe that there will also be more than coming back to equity market because as we speak now, Naira has been in the kind of where it is appreciated. Even we are thinking that Naira will be appreciated because of, you know, from almost as from 1,000 to 1,900 to 1,000 to 1,000. But naturally, for the insurance investor, our market is still cheap along that value. I believe that when they start coming to our market, the 20% of Naira, even though force are leaving the market now, when we start this for investors coming back to Nigeria because all eyes on what, how stable would CBN know intervention in the foreign market, especially in the market to be consistent. If they know that here it's consistent and stable, it's a plan that they are coming to Nigeria for a year or two years to stay. That will help us follow the market to go up. And also they want to see more general reform of this government. We have seen how something will be removed. We have seen also now in the power, the tariff. Now, how is Naira going to play on the economy because all we need to do is let the economy be on the part of recovery. And I think that our markets will be a good destination for foreign investors. Right. Let's stay with the banks now because most people are really very interested in seeing how it plays out with this recapitalization and of course some of them just disclosed their earnings recently. Zenit Bank PLC, one of Nigeria's largest banks published its audited account for the fiscal year 2023, showcasing gross earnings of 2.13 trillion Naira. This represents the growth of 125.4% year on year. And it's the highest gross earnings ever reported in the company's history. UBA and Zenit Bank have joined access core in the 20 trillion Naira Club in terms of total assets. Now, the three financial institutions are now the only ones with the total asset base exceeding 20 trillion Naira, which is about $20 billion as of December 2023. Let's get your comment to model. For me, the banks have really done well. As I said, explanation would not be a problem for major operators of this bank, especially the full gas or the first care fund. They have sold it enough. If you look at banks as they posted about 2.13 trillion, let me say 2 trillion gross earnings for financial year 2023, it's a signal of where they are going. And at the same time, despite that, most of them have really reported by a first gain. But go back and look at this period from almost since two years ago, here it's having hike in Nigeria to checkmate inflation. The banks have been saying from it massively. And I calculated on what on their interest income. And that's going to continue for you. We'll say it earlier that just for the first quarter of 2024, we have seen about this point hike. It's also the bank to benefit from it. And I believe that the 2.7 trillion gross earnings and come back to the final which is the profit after that after taking care of their costs, their cost of operation, their pay government tax. Also, even there's no pediment about bad loan, they are taking care of it. And they are posting above 500 billion as profit. A signal that the 5 million earnings as part of the checkup. But I will tell you this bank about more than 3 million has retained earnings. It's a price for them. And also pay their dividend to their shareholder that's impressive. It's also the price they're supposed to patronize them as they come to the market by way of right or by way of public of right. Then for me it's good for the bank and it's also good for them because they have about 2.8 or 2.9 trillion in their earnings. It's as easy as either you pay dividend or you don't need to work to loan us or to capitalize the work. Your capital that would make it to hit for me. This way I said investor and we know that the full gas are set to meet the 500 of CBM. There's no cost for that. Our banks are headed because they want to drive one trillion dollar economy we are looking at. For me there's no panic from back and stop. Let us project for Q2. We just started this last week as it is. We are looking at an increase of $18.2 trillion or 44.49% from $40.9 trillion open for trading this year. So what we project what we foresee what trends do we see for the second quarter do we see more bullish or bearish trends? There was to see for me a missed trend market property can also be a market but the strength or the position or the state or the Q1 number from this bank and the general market will give insight. For me we don't need to depend more on the first quarter. We are already seeing the performance of most companies in 2023 also a missed number. That missed number will also for the market in 2023 that trend will continue but the interest was that we have seen in our NIRA this video that means most of the listed loss last year and also in this market will improve their performance because the position for their first loss will reduce because of what since the building from from $100 to $900 or $1,000 fine but that will improve their performance in Q2 that means in this video we will see a missed performance for Q1 I will give insight of what to do profit taking will be there but also government policy also coming up also guide investors now we will be able to continue to look forward for this opportunity in terms of government policy also a very big thank you to you Ambrose for your wonderful insight and of course the analysis that you have made on the banks earnings and the Q1 review do appreciate your time as always that's what I mean all right Ambrose is a stock market analyst and researcher and we have been looking at the outlook for 24 second


Hey guys, happy vlogmas day two today is council transition So that means I'm piecing out of my position at capitol ta and we're gonna go to brunch right now Back with Valentina The day the same little it's actually gross out here today like yesterday.  Yeah, so the appetizers were fired. He was really good Yeah, and the garlic truffle fries Truffle fries with the sauce. Yeah Amazing, but yeah, so we have a whole Katie day ahead of us We have like a cab meeting give a little break right now, so yeah chill and relax. I have to like study I really need to do my nails.  Yeah, we get some then. Yeah, we'll see Just free shoot a new member educator 57 kids what about you? Oh, yeah, I want to get everyone's shirt show your shirts tiff President community service Same same Recruitment chair.     Do you have a darker lip color? Apply sapphire I know you even do it sometimes Yeah, we know When I came home, I exported my first vlog miss vlog and got it up for you guys now It is 3 30 and I'm currently looking over some final exam notes I'm very lucky because The class that I'm in has a group meet and somebody created a little Google doc with all of the notes So I'm just looking over this. It's principles of journalism if you guys were wondering That's like literally my only real class this semester If you guys haven't watched my vlogs before then you wouldn't know that I'm taking Literally one class this semester and then I'm taking an internship course So that internship course counts as four credits And then the regular classes three credit hour class, which is normal And then next semester, I'm only taking two classes, which I'm hoping are gonna be like the easiest classes I've ever taken So I kind of got recommendations from almost story sisters because I literally am done with college I'm done with my major. I'm done with my minor after this last principles of journalism class And then all I have to do is take more classes just to like meet the credit hour Minimum to graduate. So I'm very excited. This is like my last real class at least I'm hoping I'm not really sure what's gonna Go on next semester because like I don't know if they're gonna actually be that easy or just like busy work So we will see hopefully it's gonna be easy Because I'm just about over school. I'm gonna get back to studying but all I can think about is my disgusting nails Like I feel like I've never had my nails like feel this bad because I feel like they're just all chipped like in Some way and I want to like keep them long But I know like when I get to the Nelson on they're probably gonna have to like cut them all which makes me so sad It's like I used to bite my nails so badly I mean I stopped when I got into college pretty much, but Literally when I was a kid and like growing up. I used to bite them literally every day And so it just makes me so happy that I've gone to this point where they are so so long and like pretty And it just makes me really upset when I have to cut them because I'm like damn it I did all that hard work for nothing also last night.  I think it's like you I know I could have like executed it better if I knew after effects after effects is just an application in the Adobe suite and you can make like motion graphics and stuff like that So I'm trying to learn more about it I sometimes use it in my internship, but I really definitely want to use it more and like learn more about it because I Love just like seeing little cute graphics on videos. So like I said, I know it could have been better, but It'll do for this year. Maybe next year. It'll be like all like advanced. So that's what I'm hoping at least So it's currently 450 and I have my last council meeting ever at five. We're having a meeting with our Cab advisors, which is what does it stand for? Do you know? Council advisory board I'm pretty sure that's right But yeah, so they're just like our advisors like every position has an advisor And yeah, that's gonna be my last meeting and then we're having a Christmas party So I have my Christmas sweater on it says Merry Christmas. My sister gave it to me. So shout out to you Thank you for the Christmas sweater because I Don't have any at chapter before the Christmas party. We're doing council transition So it'll be official that I'm not VP PR anymore and that Tory will be the new VP PR So that's really exciting. I'll be moving on to bigger and better things and I'm really excited for Tory Like she's killing the Instagram already Chapter it's not Christmas. It's vlog 25 days So chapter is over me and tiff our general members That's not good. We're losing so many perks tiff not even purchase like Hearing in sight because now we're like you're sitting in the back of everyone Yeah, so like we literally are not gonna be able to hear see anything I know I was thinking that and we get the red chairs Yeah, they're not very I which I don't understand because I feel like seniors should get the Luxurious chairs. You're right. Should we start making that a rule? Maybe We're gonna have a little marathon because life sizes on where the hell is a remote And the Victoria secret fashion show, so I think life says is on at eight And I think the Victoria's Secret fashion show is on at ten So hopefully it ends, you know in time for us to watch both. We're having a little watch party for the Victoria secret fashion show All our snacks we've got a veggie plate some talkies and pretzels some chocolate covered pretzels You name it. We have it with all of our snacks, you know, because we're on that Victoria secret angel diet It's talking Everyone's favorite angel Taylor Hill Candice, yeah She's got a baby and she's still Romy, yeah She's like so perfect She has a pretty good editor for Taylor Fashion show just ended and it was nothing but amazing I'm so sad because it was Adriana Lima's last time walking the Victoria's Secret runway and she's definitely my favorite I love her because she's beautiful and ethnic I'm gonna end this vlog here, and I'll see you guys tomorrow for vlog mistake three. Bye


notice this booth called M Powered because they have a light here that I actually have in my home. It's a small solar powered plastic cylinder that collapses, really nice for camping and things like that. I think I actually got the idea from my daughter and my daughter about this. And so I stopped John Salinger and said, you need to tell us about this product. And the first thing you told me was, well, actually you've already participated in our business model. We're a B Corp. And so we've been able to, because you've purchased, because of our scale, just sheer scale of consumer purchases, we're able to affect people by affordable lights around the world where people wouldn't be able to afford them because we can change our margin structure for people that need them in aid, in emergency preparedness, and in emerging markets. So just by buying the light, that's all you did, thanks to your daughter, right? We were able to impact three million people to date and 450,000 US tons of CO2 have been averted in the process. So you help people in other countries that can't afford them. You're charging them far less than you charge me, I hope. That's correct. And many of our lights go into programs like Team Rubicon, Oxfam, Save the Children, and they're really programmatic to build capacity. So female entrepreneurs, Sub-Saharan Africa, Southeast Asia, Central South America, 80,000 lights to Puerto Rico. Wow, I just thought it was a cool solar light. That's what enables us to do what we do on scale. That's fantastic. So talk about what the other products you've got going. Sure. So now we have an app-enabled light. That's why we're at CES and we control that with your phone. So think of a Phillips light. However, you can control it with your phone. So change color. Solar powered. So everything we do is solar powered. Everything is hopefully beautifully designed and everything is personal and there's a personal ownership to it. Clean. Yeah, it is funny. I'm really happy when I use this light. Thank you. We wanted to bring joy. Yeah, yeah. And so it's inflatable. I don't know if I said that correctly for the people who are just listening that this thing collapses down into a little cylinder and then you've got a full light. For foreman function, right?  You can put your light in a piece of the sun in your pocket. It's kind of interesting. But we fit 50,000 in a container and that woman in Ghana who's a female entrepreneur can carry a hundred around. Wow. Sell them as wears. So this year we're also launching a few other solar products, a bike light, an induction charger and a circadian rhythm. That's also that light is also travelable, portable. Wow. So the induction charger, that's a Qi charger. It is. That's correct. Yeah, app enabled iOS and Android. Now, I know this sounds silly, but since we are talking about my daughter, she's going to be really excited about the string lights. Thank you. This says a cylindrical element here that's the solar charger, right? Correct, yeah. But she loves nothing better than little sparkly lights that we can see right along here, right? And so these are great for dorm rooms. They're great for camping. They're great for home. They're great for sort of bringing your own ambiance where you are. These are fantastic. Are they outdoors? Of course. Everything is waterproof that we do. Wow. This is so cool. This is really, really fun. I'm excited that we stopped by and found you. So the company spelled the name. M-P-O-W-E-R-D dot com. All right. Just get rid of all those pesky ease and vowels, right? Yeah, we don't have vowels. But if you Google us, we come up, thankfully. And to Google. Where can people find you? Well, they can find me on LinkedIn. John Solzinger on LinkedIn. What about the company, though? The company, we're everywhere. So we're also in all brick and mortar, you can imagine. From Target to Best Buy, we are in Walmart. We are in every independent outdoor retailer. And online? Online. We're on Amazon. And really, I want to mention RAI because they're one of our premier partners. Oh, yeah, there you go. And we actually try all of our lights at RAI first before we launch them to the public. Great partner. Well, that's actually where we first saw these was camping. So that must have been where we found them. Wonderful. So the website is? Is www.m-p-o-w-e-r-d m-power-d dot com. Very good. Thank you very much. This is fantastic. I'm even more excited about this. It was so nice to meet you. Thank you.