Thank you very much, Mr. Chair, and thank you to both of our witnesses for being here this afternoon. It's a very helpful and insightful presentation and testimony.
Professor Plourde, if I could, I'll start with you, please, sir. You indicated that of course as a percentage of total global greenhouse gas emissions, Canada represents about 2%. As a result, we need to, if I understand this correctly, participate in a larger market or jurisdiction to have an impact in terms of reducing greenhouse gas emissions and participating in a cap-and-trade system. Am I characterizing that properly?