How do you see this evolving given the latest rapid advancements in AI?

Thanks, Eric.

It's clear to me that AI is exerting great pressure on companies' ability to secure sensitive data, and that pressure is only going to grow over the next 12 months.

A key development driving this is that the latest AI models have demonstrated the ability to link many vulnerabilities, creating so-called exploit chains to penetrate defenses.

So companies usually have multiple layers of defenses, each one with some holes that are undiscovered and therefore unpatched.

AI models now not only have the ability to find those holes, they can map out a complete pathway that links all of them so you have a full working exploit.

Researchers have also demonstrated that AI agents enable the creation of self-sustaining computer worms that can develop custom attacks in real time as they jump from one device to the next.

And what can companies ultimately do about this? Well, companies can certainly

Curious to hear, what does this imply for emerging carbon capture and storage technologies?

Thanks, Eric.

So Corsair is likely to drive further investment in carbon capture and storage technologies, both to produce sustainable aviation fuel by lowering lifecycle emissions in fuel production, and also to generate carbon credits that airlines can buy to offset emissions under Corsair.

Now, just to remind our listeners, Corsair requires airplane operators to offset emissions on international flights above an agreed baseline.

The idea is to make global aviation growth carbon neutral.

An October update showed that emissions rose above the baseline for the first time in 2024.

That's why airlines now face their first ever Corsair charges, and they need to buy credits to offset the excess emissions.

Curious to hear your thoughts as to what are the key implications of this delay?

Eric.

I would say that despite the very real pressure that we're seeing on climate and wider ESG initiatives, there are still important multilateral efforts in progress to reduce greenhouse gas emissions globally, including regulations already in place that are becoming stricter by design.

And the first is a new net zero framework recently agreed for international shipping.

So from 2028, Ships will have to use cleaner fumes or pay as much as $380 per tonne for excess emissions to meet new targets set by the International Maritime Organisation.

These draft regulations were approved by a majority vote in April, and they're set to be formally adopted by the IMO in October, before entering into force in 2027.

The IMO targets for shipping emissions reflect various political compromises, and the overall framework is less ambitious than what some had hoped for.

But it does send a clear signal to ship owners that conventional bunker fuel will need to be phased out over the next decade in favor of cleaner marine fuels such as ammonia.

So in your view, what are some of the wider implications of these multilateral efforts to limit emissions growth for companies and industries?