Thank you for that question, and thank you for the shout-out to all of our Timbit-eating ways, which is an important part of my everyday, too.
Industrial carbon pricing, as the studies show, adds zero additional costs to the production of food. I keep repeating that, because I think it's very important to be clear with Canadians about that.
The other part about why industrial carbon pricing is so important is that it creates the incentives for industry. We hear time and time again from industry that they need that certainty, and they do look at it as creating the incentives necessary for innovation.
We hear that from industry. For example, the Cement Association has come out in favour. Frankly, at previous committee hearings, the oil and gas industry came out in favour of industrial carbon pricing. It's something that works to create the certainty that industry needs, and it does it in a way that actually creates incentives for innovation.
I will add one last piece to that, if I may, which is that it's not just about the innovation here at home. It's also about access to markets around the world. We're in a moment where we're looking for trade diversification. We know we need to do that. When we look at markets like the U.K. and the European Union, they're looking at the carbon load of products coming in by putting in place carbon border adjustments. If we don't have an industrial carbon price, that puts us at a disadvantage for accessing those markets.
Finally, out of our top 10 trading partners after the United States, they are all putting in place measures regarding carbon and pricing carbon. This is something about how we position ourselves for the global economy and how we create the innovation here at home. It's very much a central part of how we make Canada more competitive.