Thank you for the kind comments at the beginning. I really appreciate them. I'll accept them on behalf of my 1,800 colleagues who do all the hard work.
With respect to Mark Carney and his work on climate, we were one of only two pension funds involved in the task force for climate-related disclosure, chaired by Michael Bloomberg. The purpose of that is to make sure, as you say, that we really understand what the risks are in our portfolio. Otherwise, it's extremely hard, when you have thousands of company positions, to really understand what we own in the portfolio and what the risks are. That's something that has been extremely helpful as more and more companies adopt these standards and we ourselves adopt the standards.
With respect to moving toward requirements for people to move to zero emissions, I think it's possible that it's something that people will require over time. I think the U.K. government is moving to being carbon-neutral by 2050. I think an increasing number of governments are moving toward that type of scenario. I think energy companies generally around the world do see that this transition is happening. They want to be ahead of it, in many cases. One thing Mark Carney has said is to just be careful about cutting off funding to these companies when they are actually funding transition. It's all very well to exclude everything from your portfolio, but then you end up not actually funding the transition. Some of these companies are real experts in this area. They can actually make massive investments in renewable power and manage that transition. That's certainly something that we see around the world.
I gave the example earlier of a joint venture with Enbridge in Europe called Maple Power. Together, we are making very substantial investments in offshore wind in Europe. We're very happy with that relationship and those investments.