Just to be clear, the Bank of Canada does not have a mandate for climate policy. Our mandate is solely monetary policy, controlling inflation and trying to mitigate vulnerabilities in the financial system.
Climate change is a huge force on the economy. It's going to affect the economy. It is already affecting the economy. What we're focused on is working out the implications of that for inflation and what that means from a monetary policy. We're not in the business of trying to estimate the overall impact of climate change on the welfare of Canadians.