00:00Our COP31 message has been really very simple, which has been highlighted by Minister White as well.
00:08The world doesn't need more pledges, more ambitious plans.
00:13What we need are projects that get built, projects that get financed, projects that deliver jobs and growth.
00:24But we do meet at a time of, you know, it's challenging times.
00:31Global economy is faced with significant headwinds, you know, conflicts, obviously fragmentation.
00:41But we still have to work together to see what we can do, what we can achieve together.
00:47For example, carbon is becoming an important cost component for us because EU carbon border adjustment mechanism is already in
01:02place.
01:03And our economy is very closely tied to European economy, to European value chains.
01:11I think about 55% of our exports are destined to Europe.
01:18EU accounts for about 43%.
01:20So this is now, you know, decarbonization is actually about competitiveness.
01:27It's about, you know, unless you decarbonize, you're not going to be able to sell some of the stuff competitively.
01:34So that's why green transition is actually at the heart of our economic program.
01:42It's about productivity.
01:44It's about competitiveness.
01:46It's about upgrading industry.
01:49It's about energy efficiency and security.
01:52Done well, it lowers our energy import bill.
01:55It actually contributes, if we do green transition well, it actually contributes to our macro financial stability.
02:04I was at an energy security roundtable this afternoon, and I mentioned that we paid about a trillion dollars to
02:15import oil and gas over the next 20 years.
02:19Sorry, over the past 20 years, and probably if we don't do much, we're going to pay another trillion over
02:25the next 20 years.
02:26So that's why for us, green transition is really not a choice.
02:31It's a necessity.
02:35En son haber.
02:36En son haber.
02:37En son haber.
