Thank you. That's a very good question.
I have to comment from a buildings perspective, and it's an infrastructure perspective as well.
We need to design our overall system a lot more efficiently, because simply replacing the energy that's based on fossil fuel now with renewable green energy would not be an easy transition. Basically we need to bring down the end use of the energy we're using. It's not just on a building to building basis; it's also the infrastructure we're providing to provide clean energy. I think there's enough evidence out there now, again depending on the region of the country and what form of energy they use. For example, a geothermal system, which is considered to be a green form of energy, has been used widely in building projects in Canada quite successfully. Business cases show there are very favourable paybacks. The costs of solar voltaic panels and building integrated photovoltaics have come down so significantly that the business case is becoming a lot stronger.
We also have to think about the fact that energy investments are long-term investments. Over the long term they will certainly pay back. We have to think about infrastructure, and these are meant for the long term. I think the business case is getting stronger and stronger as the economies of using those types of technologies increase. Again, it needs to go hand in hand with efficient infrastructure and a very efficient new and existing building stock. If we don't do it, I think we will not be the ones who reap the benefits from reducing our carbon output. It will be two or three generations later.
However, I think we have a responsibility, and I would say more responsibility, to look at all options to reduce our carbon output. As you know, the natural world is already changing, and we are already paying for the effects of climate change in terms of infrastructure, insurance rates, and so on.
Thank you.