Mr. Chair, I would say that the member is correct. These are incredibly complex, large, high-risk projects that often require significant inputs into decisions for the companies to decide to make final investment decisions.
In the case of a lot of the projects under pillar 1, and as is the case in a number of the projects that we continue to have in our pipeline, we're often the first in with regard to providing a commitment towards a project—not disbursing funding, not signing a contribution agreement, but in sending a signal that this project is going to advance Canada's net-zero objectives—and we do that.
As the audit actually pointed out, I think six out of the 10 CTA projects at the time of the audit were in their feasibility studies. The companies need to take a look at a lot of things. They need to look at making sure that they have the full financial stack. They need to make sure that they're going to look at regulations. They're also going to look at risk—