We know that the future of global commerce is one that cares about the embodied carbon in traded goods. We know that the most efficient way to decarbonize our exporting industries is with a carbon tax or some sort of carbon pricing regime.
If you water down that regime, you put at peril future markets that, as I said, do care about embodied carbon in traded goods. We have the CBAM in the EU. The U.K. has indicated that it will have a CBAM. Norway has similarly indicated. Thailand and Taiwan have one in place. Australia is exploring one. Then you have private sector demands going back up the value chain.
There are over 100 steel standards testifying to green steel in process or in place; most are private sector-driven. Two-thirds of the Montney gas production is certified. Why?