Speaker 2
think the risk reward balance has shifted as well, because before it was very risky for funds to come in, particularly for unproven technology. But it's more now they're seen the long term it, which is a lot of these funds need to see the long term viability. And i think when you look at the energy transition, that's check bark, check box number one. But then you also look at something like geo thermal and you're talkn about, look, you're looking a hundred years down the road with this type of technology. That's clearly long term for these investors. And so being able to see that viability going forward is something that i think is also changing the way investors are looking at the
Speaker 1
space. That long term nature of it has really changed over the past two years. Yes. I mean, and we don't pitch a hundred year business cases. I don't think capitalism is ready for that. We pitch ten year business cases, right? Ten to 20 year business cases. And some funds a line with that, actually. And it's the upside. So its important to reiterate the magnitude of the apside. A on says, now, the only thing that's interesting is, what is the flip side? What is the risk facing us on the other side? On the flip side? Well, we don't succeed with engy transition, might as well have nothing, zero. I mean, so, so it's all or nothing. I mean, failing the energy transition is failing civilization, right? So so i think that starts to play a role in the thinking as well. This is not just option. This is not just, hey, maybe we we can do these, or or not do this. Not thisis, if we don't do this, or something like this, and if something like this doesn't succeed, we might as well throw oll funds away, cause ause the world is going to be in a very different state, you know. And you see it, you see it with with climate events. You know, i it destroys billions to trillions of dollars o gd p, because because of the of the climate impacts. So i think that's also playing, and i's going to increasingly play more and more more, because i don't think 20 23 and 24 and 25 are going to be better than 22, 21 and 20. It's just going to continue to go in the wrong direction.
