Last week at the Public Policy Forum, I did make some remarks on the topic of climate change, in particular what the Bank of Canada is doing with respect to climate change.
What I would say is that climate change is becoming a competitiveness issue for Canadian businesses. Increasingly, consumers, investors and workers care about the environmental footprint of the products they buy, the companies they work for and the companies they are investing in, and that's being reflected in capital flows. As you mentioned, and I would agree with you, coming out of 2008-09, climate change was put on the back burner.
This time, interestingly, this crisis seems to have elevated people's attention to the need to build greater resilience and avoid catastrophes, and with that, you're seeing very large flows of capital into environmental, social and governance, so-called ESG types of investments. The rapid acceleration of money into those types of investments has not slowed down through this crisis.