I do not have a concrete solution which is very complex and difficult, but I wonder if it makes sense for all of us to be so dependent on speculation and the volatility of financial and futures markets, which affect the entire production sector, even when the instability originates only from a portion or a limited period of that production. Excellencies, we also bear the intergenerational responsibility to accelerate the energy transition in order to reduce dependencies and mitigate the effects of climate change. I will share with you that in Portugal, we feel the devastating impacts of climate change firsthand in the increase in forest fires, coastal erosion, and the degradation of marine ecosystems, and also and more frequently in extreme weather events, new such as storms, high winds and flash floods. That is why we take a strategic approach to the energy transition. More than 70% of our energy production comes from renewable sources. We have anticipated our carbon neutrality target to 2045. We maintain close collaboration and continued support for countries that are particularly vulnerable to climate change, and we are investing in innovative solutions, such as agreements to convert debt into green investment, climate change and freedom of navigation share a common priority of our policy the sea and ocean protecting the marine environment and its biodiversity. Combating ocean warming, addressing the threat of sea level rise and ensuring universal freedom of navigation are essential priorities on the ocean agenda, which is an agenda we all have to pay attention to. These are shared responsibilities and opportunities that require a collective effort that must unite us all. Mr. President. Excellencies. Despite everything, despite everything.

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This purpose binds our national advancement to our continent's progress, and to our responsibility to contribute to a peaceful, equitable and prosperous world. We understand that governments and multilateral institutions and trusts, when their decisions improve lives. Yet none of these gains will matter if we turn a deaf ear to the trace gathering around our borders and further appeal, we inhabit the only planet known to sustain human life. And as long as that scientific park holds, we cannot pretend that we are insulated from complex as well geography or personal exemption from the consequences of a fractured world. Mr. president, we reject the false choice between development and climate action. Developing countries, most industrialised, eradicate poverty and expand energy access through low carbon pathways supported by technology transfer, capacity building and climate finance. Africa Contributes less than 4% of the greenhouse gas emissions yet via disproportionate consequences. Nigeria remains committed to the Paris Agreement and an equitable energy transition that reflects historical responsibility and capacity. While protecting people's right to development under our Energy transition Plan, we are working towards net zero emissions by 2060 while expanding access to affordable, reliable and sustainable energy. This approach combines renewable energy, clean cooking and gas as a transitional fuel with climate, smart agriculture and nature based solutions. Finance must be governed by equity and shared responsibility rather than charity. With international commitments translated into accessible, predictable and adequately funded mechanisms that enable developing countries to pursue climate action without compromising development objectives.

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The entry into force of the Agreement on Marine biodiversity of areas beyond national jurisdiction, which Monaco was one of the first countries to sign and ratify, is a victory of the law over seizure of cooperation over predation. We now need to translate these commitments into acts to protect 30% of the ocean by 2030. To finally agree on an ambitious and binding agreement on plastics pollution and exercise extreme caution with regards to deep seabed mining. The ocean is nobody's property. It is everyone's responsibility. Monaco will continue to do its part in this vital task, relying on science, which is the only universal compass. And what goes for the ocean also goes for the climate The Paris Agreement remains our common framework. Monaco will honour its commitments by reducing greenhouse gas emissions by 67.5% by 2030, and by achieving carbon neutrality by 2050.

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We will take the lead in shaping AI into a tool for solving the shared challenges we face, such as the climate crisis, public health, food insecurity, and refugee issues. Second, the green transformation. The climate crisis is often referred to as a global group project shared by all 8 billion people on earth. A single country cannot tackle this challenge alone. At the same time, abandoning growth cannot bring everyone on board. The Republic of Korea announced its 2035 Nationally Determined Contributions as part of its active participation in the Paris Agreement and UN Climate Action. The Korea Green Transformation Strategy aims to convert our industrial structure, creating a virtuous cycle in which carbon neutrality leads to new growth engines and decent jobs. We are ready to share our experience and best practices with the international community. Co-hosting the fourth UN Ocean Conference with Chile in 2028 reflects our commitment to leading discussions on the sustainable development of our oceans.

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It's what we also tried to do, acting together. And we did it. Just look at the oceans. A few years ago, everybody said it was impossible to craft agreements so as to protect marine areas, protect the oceans. Just look at what we've done over the last few years, protecting 30% of our landmass and our seas. We've crafted this agreement and implementation is improving year in, year out. Some also told us that we wouldn't be able to conserve two thirds of our oceans, the high seas. We undertook those negotiations, working hand in hand with the great powers. That's the BBNJ agreement. And in a matter of months we achieved over 60 ratifications, which means that the treaty has now entered into force. That agreement, the Nice treaty, the United Nations Ocean Conference, the third Oceans Conference last year, helped us to accelerate that work, and the first oceans will be held in a few months time in January. This is tremendous evidence of our ability to achieve concrete results when we mobilize, when we act in concert. So let's not give in to fatalism. Let's defend what we've achieved, but also our principles. We must defend free and independent science. Let's protect the IPCC, IPBES. We need scientists who measure, who analyze, who assess. Let's uphold our commitment to the Paris Agreement, to our decarbonization pathways, to our 2050 carbon neutrality target. Let's shoulder our share of responsibility. We need to innovate, cooperate, restart, work on biodiversity credits, and achieve our objectives on forests and oceans. We have many decisions to take. We cannot give in to fatalism.

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