Thank you for that.
I would like to move to Ms. Pollard and our guest from the U.K., Mr. Hughes.
Can you help us understand how the three-year trading experience has moved to perfect the trading system in the European Union? To what extent have the challenges and the designed features been ironed out? I thought it was over 11,000 installations, but you say it's 10,000. Fine. That's a lot of installations.
Mr. Hughes, you're the deputy director of the Department of the Environment in the U.K. I take it you would have been following the IPCC's latest reports. One of the things that we hear repeatedly from the IPCC is that we have to make policy now based on science, not on voodoo. Numbers like 2% to 4% keep popping up and were prominent in Bali.
To what extent--in Mr. Hughes' case and perhaps Ms. Pollard's--has science informed the approach of the European Union and the U.K. to this issue?