It is important.... I'd go back to the point that carbon pollution pricing isn't the only tool and there is a strong rationale for complementary measures. That includes regulatory measures in some circumstances, and it could include other types of tools. The government has a range of tools it can use to try to incent emissions reductions, but certainly the reason carbon pollution pricing is being deployed is that it enables emissions reductions at a lower cost, which is a strong rationale for using it, at least for us and for other jurisdictions that have been using it for some time.
Again, I'll go back and point out that one of the reasons carbon pricing is able to create incentives to reduce emissions at a low cost is that it's not prescribing where and how. An example I would give would be about industrial facilities. There may be one facility that may actually have some relatively low-cost options to reduce its emissions, and maybe there is some easy low-hanging fruit to improve processes and improve energy efficiency. There may be another facility where making that same level of reductions would mean a more costly investment.
What a carbon pricing mechanism does—and I'm referring here particularly to the emissions trading system that we're enabling under our system for heavy industry—is allow those emissions to be made where they have the lowest cost, and for those kinds of reductions to be used, it's agnostic as to where and how. It's getting the reductions at the lowest cost. That's an advantage of this tool.