[
  {
    "start": 2.94,
    "end": 7.04,
    "text": "We believe as Europeans in the global market and trade and collaboration."
  },
  {
    "start": 7.1,
    "end": 7.82,
    "text": "And that's so good!"
  },
  {
    "start": 7.9,
    "end": 14.96,
    "text": "But if you focus, concentrate your supply into single suppliers it is simply not smart."
  },
  {
    "start": 15.16,
    "end": 17.06,
    "text": "So a smart solution is to diversify."
  },
  {
    "start": 17.5,
    "end": 19.6,
    "text": "Do not put all of your eggs onto one basket."
  },
  {
    "start": 19.64,
    "end": 21.82,
    "text": "That´s first thing you learn when running business."
  },
  {
    "start": 29.7,
    "end": 31.24,
    "text": "My name is Patrick Hübscher."
  },
  {
    "start": 31.86,
    "end": 34.08,
    "text": "This is Circularity FM"
  },
  {
    "start": 34.72,
    "end": 34.78,
    "text": "the"
  },
  {
    "start": 34.86,
    "end": 40.0,
    "text": "podcast about understanding, building and managing circular business models."
  },
  {
    "start": 62.58,
    "end": 65.86,
    "text": "many visitors and a fully packed program."
  },
  {
    "start": 66.12,
    "end": 69.84,
    "text": "We had hard time choosing highlights, we picked four!"
  },
  {
    "start": 70.0,
    "end": 72.28,
    "text": "And these are the four that I want to share with you."
  },
  {
    "start": 72.539,
    "end": 77.1,
    "text": "We kick off on the topic of resilience in sovereignty – more details in a minute…."
  },
  {
    "start": 77.5,
    "end": 81.26,
    "text": "After this look into the economic potential for circularity."
  },
  {
    "start": 82.039,
    "end": 91.6,
    "text": "Then we have a deep dive at startups – Circular Republic will present its startup landscape the background."
  },
  {
    "start": 91.78,
    "end": 97.88,
    "text": "And for the final episode, we will combine all three previous topics – resilience economics and startups!"
  },
  {
    "start": 97.98,
    "end": 105.72,
    "text": "We'll highlight winners from this circular technology award in categories automated disassembly and critical war materials."
  },
  {
    "start": 105.84,
    "end": 110.179,
    "text": "The first stop is the Circular Sovereignty Forum."
  },
  {
    "start": 110.3,
    "end": 113.42,
    "text": "This has been hosted by Circular Republic."
  },
  {
    "start": 116.64,
    "end": 120.56,
    "text": "We will hear perspectives from Susanne Katnar, co-founder of Circular Republic."
  },
  {
    "start": 120.78,
    "end": 126.24,
    "text": "Joao Merico from Elmika Alpha Foundation and Roland Gauss form EIT Royal Materials."
  },
  {
    "start": 126.44,
    "end": 129.06,
    "text": "The topic of sovereignty is a wide one."
  },
  {
    "start": 129.42,
    "end": 136.1,
    "text": "It includes geopolitics economics Of course circularity policy instruments And many more."
  },
  {
    "start": 136.28,
    "end": 138.46,
    "text": "So let's dive into this conversation."
  },
  {
    "start": 138.72,
    "end": 139.7,
    "text": "Let start with Susanne."
  },
  {
    "start": 142.82,
    "end": 147.78,
    "text": "Susanne, we are at the E-FAT here and you host the Circular Surveillance Forum."
  },
  {
    "start": 148.18,
    "end": 149.24,
    "text": "Why did you initiate that?"
  },
  {
    "start": 149.28,
    "end": 149.54,
    "text": "Well, the"
  },
  {
    "start": 150.8,
    "end": 162.04,
    "text": "e-Fat –you just mentioned it– is the world's largest environmental technology fair... ...and I think this is a perfect place to showcase what kind of innovative potential we already have in Germany…."
  },
  {
    "start": 162.3,
    "end": 170.5,
    "text": "…we've already had in Europe because there is this innovative potential that we need if we really want to make this transformation towards circular economy and reality."
  },
  {
    "start": 171.14,
    "end": 183.82,
    "text": "And many of those technologies here are already what we need today to improve, for example the recycling aspect within the circular economy but then also addressing other issues in robotics or automated disassembly."
  },
  {
    "start": 184.42,
    "end": 187.6,
    "text": "So there's a whole host of innovative ideas that are being showcased."
  },
  {
    "start": 187.8,
    "end": 191.78,
    "text": "And that is why having the Circular Serenity Forum here, it's in perfect spot for us!"
  },
  {
    "start": 192.0,
    "end": 193.08,
    "text": "Wonderful about."
  },
  {
    "start": 193.14,
    "end": 200.26,
    "text": "two years ago The European Commission released the Critical Raw Materials Act and later this year they will be the Circulatory Economy Act."
  },
  {
    "start": 200.46,
    "end": 206.14,
    "text": "so you talked to a lot of companies what are their expectations towards the European Commission?"
  },
  {
    "start": 206.76,
    "end": 211.42,
    "text": "Yeah I mean, we brought out a policy paper which is trying to answer exactly that."
  },
  {
    "start": 211.9,
    "end": 213.56,
    "text": "And what comes out most from it?"
  },
  {
    "start": 214.22,
    "end": 215.48,
    "text": "They want clarity."
  },
  {
    "start": 216.02,
    "end": 220.16,
    "text": "so the end-of-waste definition for example accelerated permitting."
  },
  {
    "start": 220.22,
    "end": 221.0,
    "text": "they wants speed."
  },
  {
    "start": 221.16,
    "end": 222.92,
    "text": "The transparency aspect is clear."
  },
  {
    "start": 223.04,
    "end": 227.56,
    "text": "how do we calculate benefits That come from recycled content For example?"
  },
  {
    "start": 227.88,
    "end": 229.88,
    "text": "scope three emissions have been saved."
  },
  {
    "start": 230.0,
    "end": 232.62,
    "text": "It's an important topic that was discussed here today."
  },
  {
    "start": 233.22,
    "end": 243.28,
    "text": "but What's most of all important for them Is predictability that regulations which have been planned are not being taken away or reformed through omnibus, for example."
  },
  {
    "start": 244.12,
    "end": 247.94,
    "text": "They want to know if their first movers they can win and will not lose."
  },
  {
    "start": 248.1,
    "end": 252.46,
    "text": "We heard today someone saying necessity is driving innovation."
  },
  {
    "start": 252.78,
    "end": 267.8,
    "text": "And when we talk about critical raw materials and geopolitical dimensions... ...we always have this tension between the nation-state perspective and companies are a bit more flexible, at least in the long term because they can relocate their operations."
  },
  {
    "start": 268.039,
    "end": 277.78,
    "text": "So how can a buddy like the European Union actually also innovate and try to make companies move into the circular economy?"
  },
  {
    "start": 278.56,
    "end": 279.859,
    "text": "That's a very important point."
  },
  {
    "start": 279.979,
    "end": 293.78,
    "text": "I mean, we are at Circular Republic located in Europe's largest entrepreneurship center and specifically for the young companies it is interesting to go abroad or US where finance streams aren't comparable with what you see here either in Europe or Germany."
  },
  {
    "start": 293.94,
    "end": 300.82,
    "text": "so that one thing make sure money is there for innovative companies being able to scale."
  },
  {
    "start": 302.32,
    "end": 308.599,
    "text": "The other point is many companies who want to stay within Europe, who wants to stay in Germany."
  },
  {
    "start": 309.02,
    "end": 315.02,
    "text": "And here what's really important is making it easier for them... ...to make their business model work."
  },
  {
    "start": 315.099,
    "end": 318.32,
    "text": "and that sort of relates back to the question we just discussed."
  },
  {
    "start": 318.359,
    "end": 322.34,
    "text": "you know have the predictability on how are going set up your business model?"
  },
  {
    "start": 322.859,
    "end": 329.9,
    "text": "Because yeah as a company you have the flexibility go abroad But that's also linked to a risk, of course."
  },
  {
    "start": 329.979,
    "end": 334.2,
    "text": "Because what if environmental regulations change like we have seen in the US?"
  },
  {
    "start": 334.9,
    "end": 338.8,
    "text": "If the ground there suddenly is not so fitting for your business model anymore?"
  },
  {
    "start": 338.96,
    "end": 340.18,
    "text": "at least here you know how it is."
  },
  {
    "start": 340.28,
    "end": 343.18,
    "text": "but here We have to guarantee the predictability as well."
  },
  {
    "start": 343.52,
    "end": 346.06,
    "text": "So we have this competitive advantage compared to other areas."
  },
  {
    "start": 347.02,
    "end": 355.14,
    "text": "And At the same time with seeing already luckily companies that are moving in their direction, so they set up circular business models."
  },
  {
    "start": 355.24,
    "end": 366.62,
    "text": "They change the supply chains to become more resilient and more circular while at the same time companies within the same industry have more or less the same preconditions stick with a more linear approach."
  },
  {
    "start": 367.02,
    "end": 372.32,
    "text": "So what separates the front runners from the company's that is a bit more hesitant?"
  },
  {
    "start": 372.82,
    "end": 376.7,
    "text": "I mean one thing and that sort of adds on to the last question, i wanted to mention this as well."
  },
  {
    "start": 377.159,
    "end": 378.34,
    "text": "It's a strategic aspect."
  },
  {
    "start": 378.38,
    "end": 386.539,
    "text": "we see that investments venture money is being redirected to Europe because of those sort of changing environments that we've seen in the US."
  },
  {
    "start": 386.719,
    "end": 395.659,
    "text": "The IRA was put into place under Biden so the IRA provided a lot positive ground for innovative companies in the green tech space to flourish."
  },
  {
    "start": 395.84,
    "end": 397.12,
    "text": "and now this is being taken away."
  },
  {
    "start": 397.26,
    "end": 406.26,
    "text": "And we see that a lot of investments are now flowing into the European Union, so the credibility by investors toward what the European union can establish it's there?"
  },
  {
    "start": 406.64,
    "end": 416.3,
    "text": "That's an important signal coming up with the question you've just asked why some companies are front runners or not I think depends on where they're standing."
  },
  {
    "start": 417.32,
    "end": 423.12,
    "text": "given themselves a clear circularity target some years ago, maybe due to regulation impending regulation."
  },
  {
    "start": 423.38,
    "end": 425.7,
    "text": "And they are trying to understand how to make this real."
  },
  {
    "start": 425.859,
    "end": 432.5,
    "text": "and over the course of this process The geopolitical landscape has changed and there really seeing now How important is it?"
  },
  {
    "start": 432.78,
    "end": 439.719,
    "text": "To remain in control Of your own material value streams on that very often as linked to changing business model As well."
  },
  {
    "start": 440.219,
    "end": 456.94,
    "text": "so for these companies They were front runners but their seeing That if they're actually benefiting from this despite maybe the fact that European regulation is not really rewarding them for it, but remaining or retaining control of their high-value material streams is paramount."
  },
  {
    "start": 459.26,
    "end": 466.32,
    "text": "For other companies who are not following suit some are waiting for Brussels to decide What comes first?"
  },
  {
    "start": 466.4,
    "end": 471.719,
    "text": "You know, what do you need to hear or not anymore and then they can only be reactive."
  },
  {
    "start": 471.9,
    "end": 472.58,
    "text": "It's their decision!"
  },
  {
    "start": 472.719,
    "end": 479.159,
    "text": "Today we experienced two hours of intensive exchange in discussion about your takeaway from todays event."
  },
  {
    "start": 479.44,
    "end": 487.94,
    "text": "Well my take away is this old saying... ...you could only do it together but I like the El MacArthur Foundation brought into this discussion."
  },
  {
    "start": 488.0,
    "end": 493.88,
    "text": "We are talking about sovereignty But we have to talk about sovereignty AND collaboration at the same time."
  },
  {
    "start": 494.859,
    "end": 499.26,
    "text": "being here today, having these different companies in the room together with politics."
  },
  {
    "start": 499.419,
    "end": 501.94,
    "text": "We are all driven by the same questions I've mentioned."
  },
  {
    "start": 502.18,
    "end": 510.0,
    "text": "it's clarity its transparency but it needs to act as well and that is really sort of like this positive energy that i'm taking away."
  },
  {
    "start": 510.58,
    "end": 513.68,
    "text": "Susanna thanks for facilitating this collaboration!"
  },
  {
    "start": 513.74,
    "end": 513.84,
    "text": "Thank"
  },
  {
    "start": 513.9,
    "end": 514.4,
    "text": "you so much!"
  },
  {
    "start": 517.82,
    "end": 520.2,
    "text": "Joao You co-hosted this session today."
  },
  {
    "start": 520.6,
    "end": 522.18,
    "text": "why is such an important topic?"
  },
  {
    "start": 524.0,
    "end": 526.76,
    "text": "Critical minerals is an extremely important subject at the moment."
  },
  {
    "start": 527.12,
    "end": 533.26,
    "text": "We're going to experience a very high demand, stemming from energy transition and mobility-resistant digital transition."
  },
  {
    "start": 533.7,
    "end": 546.7,
    "text": "we have circle economy at the core of that transition so resources are designed to be capped in the economy... ...to be used as productive as possible creating value by reducing any negative impact you can have."
  },
  {
    "start": 546.86,
    "end": 549.24,
    "text": "So we need to transition into global structure for that matter"
  },
  {
    "start": 549.7,
    "end": 555.06,
    "text": "And whatever strategies that are available to achieve the goals you just mentioned."
  },
  {
    "start": 555.38,
    "end": 571.06,
    "text": "One of the main strategies being currently discussed all over the world is the need to increase recycling, which is absolutely key strategy and way forward particularly because in these minerals we're able to have high rates of recycling back compared with other sectors of the economy right?"
  },
  {
    "start": 571.18,
    "end": 573.02,
    "text": "Some of this minerals can be recycled again-again."
  },
  {
    "start": 573.24,
    "end": 575.78,
    "text": "however recycling will not solve the whole thing."
  },
  {
    "start": 575.82,
    "end": 576.76,
    "text": "it's not a full picture."
  },
  {
    "start": 577.1,
    "end": 581.14,
    "text": "We do need a diverse set of circular business models beyond recycling as well."
  },
  {
    "start": 581.56,
    "end": 586.2,
    "text": "Sharing models, leasing and rental like product-as-a-service materials service etc."
  },
  {
    "start": 586.72,
    "end": 596.72,
    "text": "to make sure we increase the durability of this products in the economy ensure they can be repaired reused remanufactured And eventually recycled at scale and global."
  },
  {
    "start": 597.3,
    "end": 600.88,
    "text": "The topic of critical raw materials mostly comes down to them specific material."
  },
  {
    "start": 600.96,
    "end": 612.42,
    "text": "So how can like reuse model really work considering fast innovation cycles that may be the kind of permanent magnet, that was state-of-the art last year."
  },
  {
    "start": 612.64,
    "end": 618.88,
    "text": "May not be one next year and reusing that you won't bring your in a competitive position?"
  },
  {
    "start": 619.66,
    "end": 619.78,
    "text": "Yeah!"
  },
  {
    "start": 619.96,
    "end": 620.72,
    "text": "That is very good point."
  },
  {
    "start": 620.76,
    "end": 622.22,
    "text": "And it's an issue the industry facing."
  },
  {
    "start": 622.34,
    "end": 623.42,
    "text": "The technology is evolving."
  },
  {
    "start": 623.76,
    "end": 626.74,
    "text": "It has issues... Not only for reuse but also recycling as well."
  },
  {
    "start": 626.84,
    "end": 631.58,
    "text": "The materials they're going to be available post recycling in the future may not be the ones most demanded."
  },
  {
    "start": 632.7,
    "end": 635.3,
    "text": "So we have to manage on battery side."
  },
  {
    "start": 636.34,
    "end": 653.32,
    "text": "A solution for that is once an EV battery reaches the end of its life, it can be applied to stationary batteries and That might be a very cost-effective and profitable way To maintain the product in circulation before you can recycle And avoid any need to create whole new battery for stationery storage For example."
  },
  {
    "start": 653.64,
    "end": 664.42,
    "text": "So we can rely on these strategies and also design new solutions to help us maintain this bird circulation because the wasteful way you're currently doing, the economy is surely bound to fail and be more costly in the right time."
  },
  {
    "start": 664.48,
    "end": 672.34,
    "text": "So we have to develop new ways of engaging with these materials that they become assets to be managed over a long term rather than disposable credits."
  },
  {
    "start": 672.8,
    "end": 679.12,
    "text": "Yeah when you describe these circular initiatives do you separate between let's say global circular economy?"
  },
  {
    "start": 679.3,
    "end": 680.76,
    "text": "where from a worldwide view?"
  },
  {
    "start": 681.08,
    "end": 693.82,
    "text": "We keep resources a more, let's say regional circular economy because considering the current geopolitical discussions it seems as though there is a circle of economy in North America and Europe."
  },
  {
    "start": 693.88,
    "end": 702.8,
    "text": "In Asia on other continents And some regions are trying to set up their own kind of semi-wing fence circular economy."
  },
  {
    "start": 703.24,
    "end": 705.88,
    "text": "I mean you're working together with global companies around the world."
  },
  {
    "start": 706.32,
    "end": 710.06,
    "text": "So how do you view that movement or this trend?"
  },
  {
    "start": 711.06,
    "end": 715.0,
    "text": "come up with more regional focused circular economy or is that even the case?"
  },
  {
    "start": 715.36,
    "end": 716.36,
    "text": "Yeah, we need both."
  },
  {
    "start": 716.48,
    "end": 720.32,
    "text": "We need local efforts and local innovation in global cooperation."
  },
  {
    "start": 720.46,
    "end": 722.36,
    "text": "This is a massive issue."
  },
  {
    "start": 722.74,
    "end": 726.02,
    "text": "The demand for critical minerals increased by over three point five nearly quadruple."
  },
  {
    "start": 726.54,
    "end": 729.04,
    "text": "So no region can do it by itself."
  },
  {
    "start": 729.64,
    "end": 731.5,
    "text": "Also No Region Can Do It Without Local Effort."
  },
  {
    "start": 731.66,
    "end": 732.34,
    "text": "so we need Both!"
  },
  {
    "start": 732.7,
    "end": 737.24,
    "text": "We Need Better Global Cooperation That Results In Win-Win Positions Forever Back."
  },
  {
    "start": 737.32,
    "end": 746.22,
    "text": "I think that's where the circle economy also can lead and ensure we hit a right spot between local innovation, local initiatives... ...and global cooperation."
  },
  {
    "start": 746.5,
    "end": 747.18,
    "text": "Windows scenario!"
  },
  {
    "start": 747.74,
    "end": 749.54,
    "text": "You mentioned climate ambition?"
  },
  {
    "start": 749.94,
    "end": 761.3,
    "text": "My last question is about that because in one or two years the circular economy has been framed more as an instrument to come up with resilient economy and resilient business practices."
  },
  {
    "start": 761.42,
    "end": 766.18,
    "text": "To what extent is it still delivering on climate and sustainability goals?"
  },
  {
    "start": 766.4,
    "end": 770.64,
    "text": "Yeah, the circle of economy will be absolutely key to deliver on-climate goals."
  },
  {
    "start": 770.88,
    "end": 773.32,
    "text": "On climate we have a maybe immediate to reduce emissions."
  },
  {
    "start": 773.42,
    "end": 778.46,
    "text": "reduced fossil fuel consumption right but that alone Is not the full picture."
  },
  {
    "start": 778.74,
    "end": 787.44,
    "text": "if we don't change how We extract use and dispose of our products If we don' t change their linear process our climate goals."
  },
  {
    "start": 787.74,
    "end": 797.42,
    "text": "So if we're going to aim for doing a renewable energy transition that's still linear in creating solar panels and room turbines, and batteries... That will still cause enormous environmental impact."
  },
  {
    "start": 797.74,
    "end": 800.36,
    "text": "that would have a lot of emissions from manufacturing."
  },
  {
    "start": 800.86,
    "end": 801.94,
    "text": "Emissions that are hard-to-abate."
  },
  {
    "start": 802.02,
    "end": 807.54,
    "text": "sectors like cement and chemicals need circular practices to actually heat netzios."
  },
  {
    "start": 808.22,
    "end": 812.46,
    "text": "The energy transition can take us only so far And the CERPACON can complete this image."
  },
  {
    "start": 812.72,
    "end": 815.78,
    "text": "It could bring us to pro trunetio In resilient value chains."
  },
  {
    "start": 816.14,
    "end": 819.96,
    "text": "Ja, thanks for hosting this event today and your comments on it."
  },
  {
    "start": 820.44,
    "end": 820.96,
    "text": "Thank you very much!"
  },
  {
    "start": 821.02,
    "end": 822.38,
    "text": "Thanks for having us really appreciate it."
  },
  {
    "start": 825.74,
    "end": 830.42,
    "text": "Roland Europe is gifted by raw materials but not really extracting them."
  },
  {
    "start": 830.84,
    "end": 834.36,
    "text": "What's holding Europe back to use the raw material we have?"
  },
  {
    "start": 834.5,
    "end": 834.66,
    "text": "Well"
  },
  {
    "start": 834.86,
    "end": 845.18,
    "text": "when we say that Europe has raw materials We have primary raw materials But also a bunch of secondary raw materials in our urban mines as you call And there's much more material you could extract."
  },
  {
    "start": 845.58,
    "end": 857.1,
    "text": "For some reason, over the years we rather started to focus on downstream manufacturing and kind of left this upper part of the value chain, this extraction-posing business through other places in the world that kind of systematically invested."
  },
  {
    "start": 857.16,
    "end": 862.4,
    "text": "here I think we just lost a little bit out of sight... ...and now it reoccurs as strategic matter."
  },
  {
    "start": 863.1,
    "end": 864.76,
    "text": "How do you secure access?"
  },
  {
    "start": 865.34,
    "end": 869.34,
    "text": "To those most important raw materials at your need for all kinds of manufacturing?"
  },
  {
    "start": 869.76,
    "end": 874.02,
    "text": "And I think it's a matter of commitment, willingness social acceptance in specific regions."
  },
  {
    "start": 874.52,
    "end": 878.24,
    "text": "It comes with investment costs that come to certain environmental burdens."
  },
  {
    "start": 878.4,
    "end": 886.44,
    "text": "However many people don't know that actually Europe is home Of the world leading most sustainable mining and processing technology companies."
  },
  {
    "start": 886.62,
    "end": 889.46,
    "text": "So if there's a place where we could sustainably extract materials?"
  },
  {
    "start": 890.82,
    "end": 894.9,
    "text": "You mentioned one of the key levers To achieve That Is A Level Playing Field."
  },
  {
    "start": 894.98,
    "end": 896.54,
    "text": "Why is this such an important topic?"
  },
  {
    "start": 896.9,
    "end": 897.12,
    "text": "Well,"
  },
  {
    "start": 897.56,
    "end": 898.46,
    "text": "I'm an innovation director."
  },
  {
    "start": 898.56,
    "end": 899.36,
    "text": "I believe in innovation."
  },
  {
    "start": 899.62,
    "end": 907.74,
    "text": "Innovation is driven by competition and if you want to have the best solution or most innovative solutions... ...you need to be able to compete with the best players."
  },
  {
    "start": 907.78,
    "end": 909.8,
    "text": "particularly in raw materials sector."
  },
  {
    "start": 909.98,
    "end": 925.04,
    "text": "we face a challenge that in some places of the world there are a lot of let's say state subsidies coming into business preferential treatment of electricity costs access to human capital resources conditions for instance in Europe these days."
  },
  {
    "start": 925.46,
    "end": 944.18,
    "text": "Or if you look at the latest US investments in the red earth business, large public private commitments real dollars going into the business attracting European smart minds to come over and listen in the U S then You don't have this same kind of level playing field to deploy that technology in the launch knowledge we have."
  },
  {
    "start": 944.54,
    "end": 950.38,
    "text": "so it seems as when you talk about level playing fields is more a matter of financial incentive."
  },
  {
    "start": 950.46,
    "end": 952.54,
    "text": "or how much am I willing to invest?"
  },
  {
    "start": 955.38,
    "end": 958.18,
    "text": "As a state but also as company to diversify, risk-diversify."
  },
  {
    "start": 958.82,
    "end": 965.42,
    "text": "The US administration installed in several instances even tax schemes at the border something we Europeans don't like because we believe in global trade."
  },
  {
    "start": 965.82,
    "end": 969.82,
    "text": "But on the other hand it does protect certain metallurgical industries In the"
  },
  {
    "start": 969.92,
    "end": 970.12,
    "text": "U.S.,"
  },
  {
    "start": 970.16,
    "end": 970.82,
    "text": "that's one measure."
  },
  {
    "start": 971.58,
    "end": 976.32,
    "text": "and specific VAT tax schemes or incentives to trigger industrial installations."
  },
  {
    "start": 977.46,
    "end": 985.56,
    "text": "There is also clever combination of offtake provided by private companies, as well as public authorities."
  },
  {
    "start": 985.9,
    "end": 998.58,
    "text": "If you consider a department of defense and investments in military equipment and security supplies... So it's kind of a clever combination of making companies these days decide to scale another place than Europe"
  },
  {
    "start": 998.88,
    "end": 999.04,
    "text": "right?"
  },
  {
    "start": 999.5,
    "end": 1003.66,
    "text": "And here we need to come forward with much more clever approach."
  },
  {
    "start": 1003.8,
    "end": 1004.5,
    "text": "that's what this will be."
  },
  {
    "start": 1004.64,
    "end": 1004.98,
    "text": "In Europe."
  },
  {
    "start": 1005.02,
    "end": 1014.76,
    "text": "We do see some individual businesses That still make their way But I think when it comes to European industrial ambitions and industrial policy, we need to become much better."
  },
  {
    "start": 1015.52,
    "end": 1019.54,
    "text": "One thing is the regulatory environment and decisions by state."
  },
  {
    "start": 1019.8,
    "end": 1021.92,
    "text": "The other things are demand from companies itself."
  },
  {
    "start": 1022.3,
    "end": 1027.72,
    "text": "There are companies that invest in long-term, circular resilient supply chains."
  },
  {
    "start": 1028.06,
    "end": 1035.859,
    "text": "And there are other companies that are frequently shocked when a certain supply is blocked and then after couple of months they go back to business as usual."
  },
  {
    "start": 1036.159,
    "end": 1039.46,
    "text": "we need the demand for second group as well to scale up."
  },
  {
    "start": 1039.619,
    "end": 1040.56,
    "text": "It's the majority by the way."
  },
  {
    "start": 1042.0,
    "end": 1045.339,
    "text": "How can we win this majority for long-term circular solutions?"
  },
  {
    "start": 1045.48,
    "end": 1045.879,
    "text": "Well, first"
  },
  {
    "start": 1045.919,
    "end": 1050.34,
    "text": "of all to make people really aware of the topic and key decision making levels."
  },
  {
    "start": 1050.6,
    "end": 1057.3,
    "text": "You know as I also presented earlier We have these raw materials in Europe... ...we are the best people who process those materials."
  },
  {
    "start": 1057.8,
    "end": 1060.399,
    "text": "It's a matter of commitment And it is a matter risk management."
  },
  {
    "start": 1060.54,
    "end": 1062.919,
    "text": "It boils down through investment and risk management."
  },
  {
    "start": 1063.08,
    "end": 1067.58,
    "text": "Of course we believe as Europeans in global market trade collaboration."
  },
  {
    "start": 1067.72,
    "end": 1075.32,
    "text": "That so good but if you Focus and concentrate your supply in various areas onto single suppliers."
  },
  {
    "start": 1075.659,
    "end": 1078.56,
    "text": "It's simply not smart, so the smart solution is to diversify."
  },
  {
    "start": 1079.0,
    "end": 1081.1,
    "text": "do Not put all your eggs into one basket."
  },
  {
    "start": 1081.139,
    "end": 1083.76,
    "text": "That's the first thing you learn if you want run a business."
  },
  {
    "start": 1083.98,
    "end": 1085.32,
    "text": "So diversify."
  },
  {
    "start": 1086.199,
    "end": 1086.26,
    "text": "Do"
  },
  {
    "start": 1086.699,
    "end": 1088.02,
    "text": "collaborate with global partners?"
  },
  {
    "start": 1088.06,
    "end": 1101.3,
    "text": "that's so important but still ensure A certain degree of diversity in new supply chains doing best also local or near short suppliers And this gives you much more flexibility, and also if you think in future designs of your products."
  },
  {
    "start": 1102.179,
    "end": 1110.52,
    "text": "You want to have people that know about materials who best design their product so they don't wanna send this product designs all around the world right?"
  },
  {
    "start": 1110.56,
    "end": 1115.399,
    "text": "They want to work with trusted partners then end up with a diversified supply."
  },
  {
    "start": 1115.78,
    "end": 1118.06,
    "text": "Holland thanks for sharing your perspective."
  },
  {
    "start": 1118.639,
    "end": 1119.22,
    "text": "okay Thanks"
  },
  {
    "start": 1122.419,
    "end": 1125.32,
    "text": "This was our first episode on EFAT Special."
  },
  {
    "start": 1125.46,
    "end": 1129.86,
    "text": "The next episode will move from geopolitics to economics."
  },
  {
    "start": 1129.919,
    "end": 1132.82,
    "text": "We will look at the economic potential of circularity."
  },
  {
    "start": 1133.159,
    "end": 1137.04,
    "text": "until then, let's make sure we drive a profitable circular economy."
  },
  {
    "start": 1137.36,
    "end": 1142.139,
    "text": "and please don't forget your most abundant renewable resource is your imagination."
  },
  {
    "start": 1149.48,
    "end": 1160.3,
    "text": "My name is Patrick Hübscher And this is Circularity FM The podcast about understanding building and managing circular business models."
  }
]