Thank you very much, Chair. Congratulations.
My first question is for Dr. Weis.
The opponents of industrial carbon pricing think that it can be eliminated without any consequences to the broader economy or the broader ecology. It seems to me that we're going to pay a carbon price whether it's an orderly system that helps industry adjust to the economy of the future or the carbon price will be provided by the environment.
Could you please talk to some of the events we're seeing in our environment that make this policy necessary?