Well, at the farm, cash is king. It's a business. I'm a farmer myself. I raise cattle, grow corn, I bale hay. But I'm also a banker. And I've financed farmers. I actually had the honor of large and small farmers. Not many farmers there. Well, one thing I can assure you. Profits are very small. You are dependent on the weather, and you don't know. You grow a crop, you don't know the price, you don't know the quantity. So there's no much room for error there. And yet, farming needs to change, if we want to reach the goals of Paris. More than 20 percent actually are emitted by agriculture. This includes deforestation, and let's be sure. Chemical fertilizers, diesel of your tractor. But global farming is also using. Think about it, how much. It's also a major contributor. Add that all together ... quite impactful. However, it's also a big part. Scientists estimate that farmers by means of growing trees. The impact is estimated. Quite something. So if that's the case, why are farmers not rushing? The reality is quite different. First of all, biological. At least five to 10 years to start changing the quality. It takes time to change. Also, biological. They depend on the weather, they depend on fire, rain, drought. Also, we actually have not fully tested all climate-smart agricultural techniques. Some of them have not. Then, you have the cost. When you change, you need more labor, you need more new machines, you need training. So then, you have the consumer. The consumer today is not willing or able. So if you put all this together, effort and money to transition. There is no viable. It costs the farmer more. Meanwhile, at the other side, who didn't change his ways of farming, is enjoying a nice cash flow. I call this the Valley of Death. This transformation is long, and is the best way, actually. As one farmer once said to me, "The best way of guaranteeing my farm is to pay my bills tomorrow." Why should I risk the farm? Would you risk the farm in the transition? Would you risk the farm? Who would risk the farm in the transition? Let's help the farmer, then. Actually, I'm a true believer. I'm a true believer that we should pay the farmer for their investments. We do have the instruments already, that are the carbon. But why are they not scaling? First, we actually or accounting rules. It even goes further. We actually don't know who really owns those carbon. Is it the government? Is it the farmer, or is it the one? We don't know about the price. We don't have a price transparency. It's actually a big Wild West out there. If you want to sell corn, you can get the price immediately. If you want to sell a tonne you actually don't know. You really don't know. And then, we have the discussion. What is that? Carbon and biodiversity are very variable, and they're dependent on weather and fire, so the farmer needs to be protected. We need a good insurance scheme. And last, the government. Governments, please set for us to be able to use those credits. And, very important, Farmers are great stewards of the land, good entrepreneurs, smart operators and want the right conditions to be set. I'm absolutely sure. How do I know that? While I was at Rabobank, I participated in many to support farmers to transition. Some of them failed, some of them were very successful, but all the good ones, involved some form. Let me share with you one I'm pretty proud about, and that's Project Acorn. Acorn was designed to pay for eco services to smallholder farmers. What we have done there is that we used satellite imaging and very simple pictures taken cross that data and calculate. With this calculation, to the international market, through an auction system, and we just sold them. We have been able to obtain. It doesn’t look [like] much, it's quite substantial. Acorn today reaches and has issued 300,000 tonnes of carbon, and is still growing. I think it's an amazing project, and if we could scale this up, customize it to the needs. I think we could accelerate change. But let's be realistic. This is not easy.