Good afternoon, ladies and gentlemen,

Today, I am pleased to be here at the Global Solutions Summit to discuss how we can bridge divides and create new pathways for global prosperity. The challenges have rarely been bigger in my lifetime.

Threats of war and insecurity are forcing many countries to rearm. Climate change and nature degradation are impacting livelihoods globally. At a time when we need collective engagement and global action, we face disinformation and trade policies that undermine international forums.

In times of existential challenge, cooperation within the European Union has often been at its best. After the fall of the wall in Berlin, we integrated 12 new member states. During the pandemic, we united, and when Russia attacked Ukraine, we stood together and provided ongoing support.

Today, the EU has a significant responsibility to show unity and leadership. With a single market of 450 million consumers and a robust system of common rules.

There is no more crucial moment to act, innovate, and strengthen ties. We aim to enhance our competitiveness based on decarbonisation and international cooperation.

Let me give you a concrete example: nature finance. Stopping and reversing nature degradation is a major challenge. In Europe, nature has declined by 70%, and melting glaciers threaten food and water supplies for 2 billion people. We must fundamentally rethink the relationship between the economy and nature.

We need to put a price tag on nature restoration. The EU is allocating 10% of its current budget to biodiversity and will continue compensating farmers who provide ecosystem services.

There is growing interest from farmers and investors to contribute to nature financing. Nature credits offer revenues to those who take positive actions. Companies can purchase these to ensure ecosystems continue to provide diverse crops and clean water.

Twenty years of experience with carbon markets show we can create a market for nature restoration. We must address three challenges: quantifying nature, creating infrastructure for credit exchange, and ensuring sufficient demand for nature credits.

The EU will work with farmers, businesses, and international partners to promote nature finance. Restoring ecosystems is possible with innovators and problem solvers. This makes me optimistic for the future of nature credits. Thank you for your attention.