I'd like to highlight, to answer your question, that market-based solutions and non-market-based solutions—the latter being things like policy and regulation that obligate farms to reduce their emissions—both have a role in reducing emissions and in stimulating investment in low-carbon emerging industries. I'd like to highlight the electricity sector again here.
In terms of what climate competitiveness could mean in that sector, Canada is projected to be operating a 90% emissions-free grid by 2030. This puts us just second after France amongst the G7. However, there are many countries now joining the clean electricity race, so if Canada wants to retain our clean power advantage, we can't really afford to let demand growth result in new multidecade investments in high-emitting, high-cost gas and coal power stations.
We need both market and non-market mechanisms in order to ensure that we can stay apace with the rest of the world. We've already seen massive cost reductions in renewable power.
I will stop there.