Thank you very much, Mr. Chair.
Welcome to the witnesses.
The committee has been fortunate to hear from economists from the OECD and Canada as well, all of whom have said that Canada should definitely take action on sustainable finance because it's a matter of international competitiveness. We're seeing foreign capital flowing into countries that have adopted the taxonomy and mandatory disclosure for large businesses.
I would really like us to discuss in greater depth the importance of the announcement that the government made in October, on October 9 to be more precise, on the two major pillars of green finance. There's obviously the taxonomy of green finance, transition finance and mandatory disclosure.
Mr. de Arriba‑Sellier, I'll go to you first. Would you please describe for us the benefits of such a taxonomy in Europe for the economies of those countries and the competitiveness of European companies seeking to attract foreign capital?