Thank you, Mr. Chair.
Gentlemen, thank you for being here today.
You mentioned the Sustainable Finance Action Council, SFAC, which has been given a lot of work and asked to design a plan to ultimately transition to a net-zero emissions economy.
If I have understood correctly, SFAC members are primarily from the financial sector—banks, insurers and large managers. These are institutions that don't have a very rosy history in climate innovation.
Isn't there a transparency problem here? A sector that has historically been rogue in many ways is being asked to submit a roadmap to government behind closed doors.
Should we trust the banks so much in this process?