According to most experts who've looked at measures to mitigate the impacts of climate change and reduce greenhouse gas emissions, carbon pricing is known to be, if not the most effective, then certainly one of the most effective measures to fight climate change. The very novelty of the Canadian system is that we're supporting Canadians in the transition by returning the vast majority of the revenues directly to them, which means that countries in South America, countries in Europe and countries in Asia are looking at the Canadian carbon pricing system as being a very interesting one. In fact, between 2021 and 2022, we went from 20% of the world being covered by some form of carbon pricing to 25%. We held an event in Sharm El-Sheikh, at COP27, at which we had representatives from the United Kingdom, from Chile and from the World Bank all coming to sing the praises of Canada's carbon pricing system.
It is an essential component of the fight against climate change. Again, anyone who has looked at this seriously will tell you that's the case.