Thank you, Mr. Chair.
I'd like to welcome the witnesses.
I thank you for being here.
I really enjoyed your opening remarks. It is refreshing to hear that the economy and the environment are intrinsically linked, especially when it comes from the economic sector. There is often a fear that the economic sector doesn't want to get involved, but you are proof that it does. As Mr. Henry said earlier, the cost of not doing the energy transition will be even higher than the cost of doing it. So I thank you for wanting to make the transition.
I'll address Mr. Bolduc to start.
Mr. Bolduc, you said that you had some doubts about our ability to meet the national GHG reduction targets. I totally agree with you. Achieving carbon neutrality is a pretty ambitious target. That doesn't mean we should drop that target. We absolutely need to have ambitious targets, but the way we act must go hand in hand with achieving those targets. You mentioned that, quite rightly. I feel I should mention it again. The study report released earlier this week by the International Energy Agency, or IEA, noted that it is commendable that countries want to be carbon neutral by 2050, but that this requires that we stop all oil and gas projects. We know that the gas industry in Canada will grow by at least 30% by 2040. So I have a hard time imagining how we're going to meet our targets if we continue on this path. Certainly, with Bill C-12, the government has a responsibility, but so does the industry.
How do you see this collaboration between the two, then? Do you think the government is taking the right approach in proposing this bill?