It's a tough conversation to have in Canada. When you make a net-zero commitment, you're committing to a science-based pathway. It's not just whatever you think that means; it has concrete definitions. There are international experts who have clearly defined what's required for a net-zero commitment from a financial institution to be credible, and that's what we've been assessing for large financial institutions in our work at Shift.
One of the key provisions in there is to stop financing the cause of the climate crisis, which is fossil fuels. That piece has been very challenging in Canada, obviously, because of our entanglement with the oil and gas industry.
It's a challenging discussion to have. It's not meant to be punitive to any individuals, but it's the harsh reality of what climate action requires. That's what's really holding back a lot of Canadians and institutions.