ludovic: i think the world is not ready for what is coming.r we do with the right way by giving forward stability to engage in transition or we overregulated. being a proud european, i share the latter, of course. i am worried europe will design something very grand to manage the transition that might not be as efficient. some of it is already in the making. the border adjustment tax and so forth. what i am thinking, if you want to be serious, it's like how you choose your sector, or the horizontal one, where you make it better. i am for the horizontal one. the right carbon price for them to make the adjustment, or we risk creating bubbles. the world cannot afford to have the green and brown. what we are saying in the paper, let's make sure we have an agreement among because as you can see, there is a huge divergence in understanding of green in the world between the u.s., europe and china. i think we need to converse as much as possible because the stakes are high. one of these other systemic exponential severe problems, and coronavirus remin