Sure. I'd be happy to speak to two components of that.
The first is that in our work at SHARE we regularly engage with publicly traded companies in Canada on climate and on other “ESG-related risks”. We know that companies already are inundated with requests for different types of disclosure on climate and on other ESG metrics from an absolute alphabet soup of different standards.
When we talk to corporate secretaries, that is their complaint: “We can make the disclosure, but we would like you to agree to a system so we can make one set of consistent disclosures.” The cost they are concerned about is just that: It's duplicative and competing types of disclosure regimes, which is exactly why we have wanted to develop a Canadian taxonomy and to align it with emerging international standards. That, I think, is the key component.
Secondly, for all of this, we know that there's an opportunity cost to missing investments in Canada, and that for all of what we're talking about here, there are huge opportunities in the green economy, including 3,000 jobs in St. Thomas, Ontario.