to their morgan, jim mosher with a yamazik with a for their smarter booth with goofy luke a month ago, booked on had an accident. when hit a cub in the dark, he smashed all the reflectors on his bicycle, the streets in the ukrainian capital, a clearly not safe at night. and that's especially thought for those navigating the city on foot. now the deputy head of keeps traffic, police told me the car accidents involving pedestrians had gone up by a whopping 80 percent since last october. that's when the city was forced to introduce rolling blackouts in response to russia's debilitating miss. silent don't attack on ukraine's energy infrastructure. everyone here has a story about the doc. holling that was spoken. it's really dangerous. i'm wondering how i can cross the road to the other side. but shall i go further and look for a proper crossing? or should i follow another person? so we are in a group of farmers to bar i bought a glow,

stick color for my dog because i can't seem when there's no light in the park. it's very convenient or yeah, full of them love what it was dark at the crossing over for people approach me in front of me in the nose and snatch my phones from my pocket. what was the wallet? what telephone as a brawley. but living in the city shrouded in darkness can also habits of sites mentioned. there's a bit of intrigue and mystery in the air also will especially when it's close to the curfew and there's no one around with them. it's quite interesting to ride along dark, empty streets, liberalism, and quite literally disappear into the night. now the world economic forum is kicking off in the swiss town of a divorce. as we mentioned earlier with policy leaders from around the globe meeting to discuss a wide range of economic issues including growing fears of a global recession. the war in ukraine will dominate discussions the devil's this year with a focus on the support that western allies can continue to offer the country in the

face of the russian invasion, climate change will also be a major topic. now the european commission president, also le fonda lion, is set to address the gathering at any moment. and we will be bringing you her speech life. and i believe we are going to ghost. we're going to go straight to listen to the european commission president. right now. your royal highness, excellency's, ladies and gentlemen, uber klaus, my dearest edna for almost one year. no. ukraine has stunned the world on that fateful february morning. many predicted that chief would fall in a matter of days, but this did not to count for the moran and the physical courage of ukrainian people. dearest alana,

you and your people. you have resist that the russian invasion and push back against the aggressor against all odds. not even russia's relentless attacks on civilians and you have described then are the spectre of a brutal winter have shaken your resolve. in this last year? your country has moved the world and has inspired to europe, and i can assure you that europe will always stand with you. many doubted whether that european support would be so unwavering. but today, ukraine is a candid at country to excess the european union. european can european

countries are providing more and more critical weapons to ukraine. we're hosting around 4000000 ukrainians in our cities, our homes and our schools. and we have put in place the strongest sanctions ever, which leave the russian economy facing a decade of regression. and its industry starve of any modern and critical technologies. there will be no impunity for these russian crimes. and my friends, there will be no let up in our steadfast support to ukraine. from helping to restore power, heating and water to preparing for the long term effort of reconsider reconstruction . and to reaffirm that support, we announced yesterday that the commission is delivering 3000000000 euros of

financial support. this is the 1st tranche of our 18000000000 support package for 2023. the largest ever micro financial assistance to a 3rd country. this is a strong message. and this will bolster ukraine's financial stability, helped to pay wages and showed the running of hospitals and housing services and schools. i just want to say, my dear is darlena, and i think i can speak on behalf of this hall and this audience here. we are in it for as long as it takes and stand by our ukrainian friends. and europe's reaction to the war is the latest example in how our union has pulled together when it matches the most. take energy. a year ago,

europe had a massive dependency on russian fossil fuels built over decades. this made us vulnerable to supply squeezes price hikes and of course vulnerable to put in market manipulation. in less than a year, europe has overcome this dangerous dependency. we have replaced 80 percent of ration pipeline gas in parallel. we have filled our storages. of course we have reduced our demand by more than 20 percent in the period from august to november. and from collective effort, we brought down gas prices quicker than n one expected, from its peak in august. this was 350 years per megawatt hour. it is now european, the natural gas prices down dropped by 80 percent by this month. that is below the

levels of before the ukraine war. europe has, once again shown the power of its collective will. nevertheless, we should be under no illusion how difficulties periods, 1st of pandemic, and then followed by a war, our foul families and foul businesses. and we will have to show the same resolve as we face up to a collision of crisis. the clouds, as your global risk report, sets it out. we see rising inflation making the cost of living and the cost of doing business more expensive. we see energy being used as a weapon. we see threats of trade wars and the return of confrontational geo politics. in addition, climate change already comes with

a huge cost and we have no time to lose in the transition to a clean economy. and that's what i want to speak about. the net 0 trends formation is already causing huge industrial, economic, and geopolitical shifts by far the quickest and the most pronounced in our lifetime is changing the nature of work. it is really shaping the nature of our industry. but we are on the brink of something far greater. just think in less than 3 decades, we want to reach net 0 a less than 3 decades. we have to reach net 0. but the road to net 0 means developing and using a whole range of new clean technologies across our economy in transport,

in buildings, in manufacturing, in energy the next decade will see the greatest industrial transformation of our times may be of any times. and those will develop and manufacture the technology that will be the foundation of tomorrow's economy will have the greatest competitive edge. so this gave us the opportunity is clear for all to see international energy agency estimates that the market for mass manufactured, clean energy tick will be worth around $650000000000.00 a year by 2030 more than tripper today's levels

to get ahead of the competition, we need to keep investing in strengthening our industrial base and making europe more investment and innovation friendly. and that is what investors are looking closely at and the different markets, fucking tech. he and europe. we moved 1st with the european green deal to set the path to climate neutrality by 2050, with cost our net 0 target into law to provide the predictability and the transparency business needs. we followed up with our investment firepower of next generation you. that is our 800000000000 investment plan, the just transition fund and other instruments across the economy. this is unprecedented investment in clean technology across all sectors of the green

transition. clean tech is now the fastest growing investment sector in durrell, doubling its value between 20202021 alone. and the good news for the planet is that other major economies are also now stepping up . japan's brain, trans, green transformation plan, aims to help raise up to 20 trillion yen around 140000000000 euros through green transition months. india has put forward to production linked incentive scheme to enhance their competitiveness and sectors like solar photovoltaics and batteries. the united kingdom, canada, and many others have also put forward the investment plans and clean tech. and of course, we have seen the inflation reduction act in the united states. that $369000000000.00

u as dollars, clean tech investment plan. that means that together the european than the united states alone are putting forward almost a trillion the euros to accelerate the clean energy economy. this has the potential to massively boost the pass for climate neutrality. but it is no secret that certain elements of the design of the inflation reduction act raised the number of concerns in terms of some of the targeted incentives for companies. so this is why we have been working with our united states friends to find solutions. for example of so that you companies and you made electric cars, can also benefit from the rest inflation reduction act. our aim should be

to avoid disruptions in trans atlantic, trade and investment. we should ensure that our respective incentive programs are fair and mutually reinforcing. and we should also set out how we can jointly benefit from this massive investment. for example, by creating economies of scale across the atlantic or setting common standards. at the heart of the joint division is our conviction. that competition and trade are the key to speeding up clean tech and climate totality. and that means that we, europeans, old. so need to get better at nurturing our own clean tech industry. we know that

we have a small window to invest in clean energy and innovation and clean tech before the fossil fuel economy becomes obsolete. so we have an industry at the moment being challenged by the pandemic supply chain issues and price shocks. we see aggressive attempts to attract our industrial capacities away to china and elsewhere. we have a compelling need to make this net 0 transition with our to creating new dependency . we've learned our lessons from the fossil fuels and we know that future investment decisions will be taken. now, depending on what we do a today we europeans have a plan, a green deal industrial plan. i'll plan to make your of the

home of clean, tech and industrial innovation on the road to net 0. our green deal industrial plan will be covering 4 different pillars, the regulatory environment, financing skills and trading. the 1st bill is about speed and axis. we need to create a regulatory environment that allows us to scale up fast and to craig, conducive conditions for sectors crucial to reach the ned 0 goal that we've set ourselves. this includes, for example, wind heat pumps, solar clean hydrogen storage, and other topics for which demand is boosted by our next generation. you and re power your investments. to help make this happen,

we will put forward a new net 0 industry act. this will follow the same model as our chip sacked. the new and net 0 industry act will identify clear goals or european clean tech. by 2030, the aim will be to focus investment on strategic projects. along the entire supply chain. we will especially look at how to simplify and fast track the permitting process for clean tech, but action sites. in parallel to this net 0 industry act, we will reflect on how to make important projects of common european interest, the famous i p. c. ice fast the to process easier to fund similar to access

for small and medium enterprises and for all our member states. the net 0 industry act will go hand in hand with a critical raw materials act. maria earth, which are vital for manufacturing key technologies like wind power generation, hydrogen storage, you name it. europe is to day 98 percent dependent on one country. china or take lithium. this just 3 countries. accounting for more than 90 percent of the live in production. the entire supply chain has become incredibly tight. this has pushed our prices into threatening our competitiveness. so we need to improve the refining processing and recycling of raw materials. she are in europe and in

parallel, we will work with our trade partners to cooperate on sourcing production and processing to overcome the existing one. hopefully. to do this, we can build a critical raw materials club working with like minded partners from the united states, to ukraine, to collectively strength and supply chains, and to diversify away from single monopoly. this is pillow one speed and access for the next 0 industry act. the 2nd color of the green deal industrial plan will boost investment and financing of clean tech production. to keep your pin industry attractive, there is a need to be competitive with offers and incentives,

but i currently available outside of the european union. this is why we will propose to temporarily adapt our state 8 rules to speed up and simplify them. easier calculations, simpler, procedures, accelerated approvals, for example, simple tax break models and was targeted 8 for production facilities and strategic lean tag valued chains to counter relocation risks from foreign subsidies. but we also know that state aid will only be a limited solution which only a few member states can use. now to avoid fragmented of the single market and to support the clean tech transition across the hall union. we must also step up your funding or the medium turn. we will prepare european serenity fund as part

of the mid term review of our budget. this year. this will provide a structural solution to boost the resources available for upstream research, innovation, and strategic industrial projects. but at this will take time, we will look a bridge and solution where it is most needed to provide fast and target targeted support. and to support this, we are currently working hard on a needs assessment. so the 2nd pillar is funding and state. the 3rd pillar of the green deal industrial plan will be developing the need at skills to make this transition happen. the best technology is only as good as a skilled workers who can install and operate it. and with a huge growth in new technologies, we will need

a huge growth in skills and skilled workers in the sector. this will cut across all we do, whether it is regulation or finance and will be z priority of ours european year of skills. the fullest pillar will be to facilitate open and fair trade to the benefit of all for clean tech to deliver next 0 globally. there will be a need for strong and resilient supply chains. our economies will rely ever more on international trade. as such, transition speeds up to open more markets and to access the input needed for the industry. so we need an ambitious trade agenda including by making the most for

example, out of the existing trade agreements. for example, with canada. or for example, with the united kingdom, with which we are trying hard to sort out our difficulties. we were king on concluding agreements with mexico, chili new zealand and australia and to make progress with india and indonesia. and we need to restart a conversation regarding the marcus or agreement. because international trade is key to helping our industry cut costs, create jobs and develop new products. but by the same token, where trade is not fair, we must respond more robustly. china has made boosting clean tech

innovation and manufacturing a key priority of its 5 year plan. that's good. it dominates global production and sectors like electric vehicles and solar panels, which i sensual for the transition. but competition on net 0 must be based on a level playing field. china has been openly encouraging an intense energy intensive companies in europe and elsewhere to relocate all a part of their production. they do so with a promise of cheap energy, low labor costs, and a more lenient regulatory environment. at the same time, china heavily subsidized, says its industry and restricts access to its market for european union companies. we still need to work and trade with china, especially when it comes to this transition. so we need to re focus our

approach on di, risking rather than decoupling. this means using all our tools to deal with unfair practices, including than your foreign subsidies regulation. and we will not hesitate to open investigations if we consider that our procurement or other markets are being distorted by such subsidies. we want to corporate. we want to work to whether climate change needs a global approach. but it has to be a fair approach. and a lever plainfield, ladies and gentlemen, the story of the clean tech economy is still being written. and over the years i've been coming to their voice. i've heard many times that we are on the cusp of a period of creative destruction. bad, the economists your,

they've shown peter spoke of his idea that innovation and new tech replaces the old leaving the old industry and jobs behind in many ways, this dynamic applies to the clean tech revolution of today and tomorrow. but i believe if you are a get sit right, the story of clean tech economy can be one of create of construction with the right support and incentives for companies to innovate with the right focus on skills and people with the right environment to make the most out of our world leading innovation capacity. europe already has every, since it takes talent research, us industrial capacity investment and europe has

a plan for the future. and this is why i believe the story of the clean tech economy will be written in europe. thank you very much. and that was also a fun, the ally in the european commission president we just heard speaking there at diverse speaking very strongly about ukraine. climate change and green tech and to talk more about what we just heard there. i'm joined now from diverse by w correspondent, emily show and, and joining me here in the studio is our chief international editor, richard walker. and emily, i'm going to start with you if i may offer funded line started with ukraine, and i will to, she's been speaking for months now about the need for, for unity,

for corporation against russian aggression. we just heard her say that we are in it for as long as it takes. was there any sort of change in her focus and tone that you heard, or is that the focus of support for ukraine steadfast? well i would say in comparison to last year, it's interesting to look at these 2 speeches and parallel last year. it was a love underline, really was almost wholly focused on the war and ukraine. the last world economic forum took place in may, so it was kind of just a few months after russia full scale invasion of ukraine. and she talked a lot about that about how europe needs to reduce it. it's dependence on russian oil and gas and about plans to rebuild ukraine. this year ukraine was also a strong focus, but it was more of a starting out point. so she talked about the bravery of ukrainian people about how they've held on and about how europe will continuous support,

as you mentioned. but she also really use this platform, i think, in divorce with world leaders and business leaders here to kind of almost advertise europe as a platform for clean energy and for clean tech. she talked about that being a way that europe can show once again it's unity. similarly to the way that they showed their unity in the face of russian aggression. she said, and she talked about, you know, the fact that you plan to reduce kind of bureaucracy red tape surrounding investments on clean energy and also competition on the world stage. i think kind of an underlying sideswipe, perhaps at the u. s. which is in the process of introducing this inflation reduction act, giving businesses who want to invest in clean tech in the us tax break. so that was interesting that the focus has become much more economic this year, even though she used to kind of the jumping off point for that. richard,

i'm going to come to you now, as emily just said, focus on ukraine. but of course there was so much more climate change, green tech, us, china, what, what stood out for you from what we just heard from phillip underline? yeah, well i would just pick up a little bit on, but emily was just talking about there and there is some, there is news and a lot of detail the i was talking about what she, what the european commission is now putting forward. and she talks about what they call a net 0 industry act. and, and i think this is basically what that answer is pretty much what emily just mentioned. this inflation reduction act, which the bike administration introduced last year. now the inflation reduction act wasn't really about inflation so much about climate change that was part of packaging to try and get it through congress. and. and what that introduce was, with tax breaks, we just said from emily to companies in the united states to really get in on,

on the kind of clean energy revolution, electric mobility, things like that. and this caused a lot of concern with in europe because a lot of these tax breaks are really aimed at trying to encourage the production of electric cars in the united states for instance. so a volkswagen, a, b, m, w, a mercedes or any of the european manufacturer at the moment cannot get tax breaks for selling it cars in the united states according to this legislation. so for the like did say that the, the, you and the united states having talks about this, she wants to improve that actually she wants to get over that. but, but for now introducing sort of this answer to that legislation. so the really getting into this these moves really try to stimulate and support clean tech development within the, within europe. now there is a, there will be some alarm bells going off in diverse with people watching this because.