I'd be pleased to pick up on that point.
I think there's a lot to be learned from a number of other countries, particularly developed OECD countries. Each of them is doing something well. Japan, for example, has put a number of measures in place to maximize energy efficiency, for example, and has really greatly reduced the amount of energy consumed per unit of production, per household, per square foot of office space, and so forth. I think there are a lot of co-benefits that come with that kind of efficiency. Nordic countries have placed prices on carbon and seen subsequent emissions reductions across the entire economy. Even in the United States, in years gone by, we've seen a combination of regulatory measures targeting greenhouse gases, and even more so air pollutants from coal-fired power plants, coupled with some subsidies for renewables, and we saw some shift from coal. Older coal plants are shutting down on a fairly regular basis even now in the United States based on EPA policies around mercury, acid gases and other pollutants.
I think there's a lot to be learned, and part of the UN climate change process requires countries to report on what they're doing. Part of the motivation for that is to hold people's feet to the fire, but also so we can all learn from one another. We can go to the European Union, which has targeted both industrial and vehicle emissions, and Japan with its efficiency measures. We can talk all day about that; there are lots of great examples out there.
In developing the PCF, we have tried to look at what has worked well and what has not around the world. That's one of the reasons we did our analysis exercise, the four reports that were mandated by first ministers, and part of the Vancouver Declaration to produce a menu of options. We tried to look at every emission reduction opportunity for every greenhouse gas in every sector and every policy tool conceivable, and then drew from that menu to produce the PCF, and we tried to pick the right policy tool for the right source of emissions.