The first thing we need to note is that we are currently giving about 14.5 times more support for fossil fuels compared with other countries. Just as a comparison, G20 countries provide about 2.5 times more support for fossil fuels than renewables. This kind of gives you an idea of the work we have to do to close that gap. At the same time, within the G7, we have changed the date of the phase-out of inefficient fossil fuel subsidies to 2023. We have a challenge to reduce the gap and then to meet that commitment by 2023.
At COP27, there are going to be discussions about enhancing Canada's NDCs. Canada committed to enhancing its NDC by the Egyptian COP. Within Canada's previous nationally determined contribution, Canada did not include fossil fuel subsidies reform like other countries have done in the past. This could be a major opportunity for Canada to use to present an enhanced nationally determined contribution in Egypt.
Additionally, we look at discussions related to reforms of the international financial architecture that are happening both at the International Monetary Fund and at the G7 summits. These are opportunities that Canada can use to really enhance its commitments. The world is looking at Canada because we changed the date to 2023, and it is something that other countries are looking at.