Thank you. It's a pleasure to be here. I'm going to make two general brief points.
The first point relates to reporting. As Peter Drucker, the management theorist, once said, “What gets measured, gets managed.” Hopefully this act includes a provision for the Minister of Finance to issue an annual report regarding the federal public administration's preparedness and management of the risks and opportunities of climate change.
It would be a major improvement if this part of the bill were clarified so that it explicitly includes the Bank of Canada; the major pension funds in the federal remit, including the PSP and Canada Pension Plan Investment Board; and the Canada Post pension plan, among other Crown corporation pension plans. I would encourage more guidance on what that report should include. In my view, it should include an assessment of those institutions against the same target that we are holding Canada to, which is the net-zero target of below 2°C and close to 1.5°C, if possible. Benchmarks are good for assessing these institutions against these frameworks and levels, and it would be a big shot in the arm for all of these institutions—