A couple of years ago, our parliamentary committee heard from Mr. Luc Bertrand, who more or less was the man behind the Montreal climate exchange. About 10 years ago, an agreement was signed to separate the two exchanges, with Montreal trading in derivative products and Toronto trading in stocks. At the time, Mr. Bertrand told us that the system put in place by the government, which was based on intensity targets, would help create a North American carbon market, but it is clear that this would make the application mechanisms much more complex.
Unless I am mistaken, the European model has about six stock platforms. In the United States, President Obama seems to be more in support of a cap-and-trade system. Would it not be in our interest to ensure that the systems are compatible, so that the future carbon market, which Canada now belongs to, works more to our advantage and is more efficient?