Thank you very much.
Thank you again to the witnesses who are here for the second panel.
We've been listening to the conversation so far, and there seem to be different conversations going on, with a lot of concern about the cost of implementing these or how this is going to be done and put in place, which is absolutely essential. We need to think about how it can be done, but none of this is completely rolled out yet.
For these questions or concerns about which companies will be required to have audits, who will do the audits and how we will treat small businesses, which we know don't have the resources or the manpower, typically, to undertake these things, I know there are a lot of different options. There are a lot of different ways of putting these in place, so they're really important as we roll these things out, but I'm concerned that the focus on cost is trying to be used to stop us from going forward with this, and there's very little concern about the cost of not putting these in place, both from a business perspective and because, as you just said, Mr. Schein, the investors are demanding these taxonomies and we are at risk of losing capital investment here.
I'm wondering if you could perhaps comment a little on the trade-off and the balance between putting taxonomies, disclosure and reporting requirements in place and how we do that in a cost-effective and efficient way, and why that's important given what's at risk right now with capital flows and, really, with pollution and climate change.