Thank you, Chair.
Thank you, Mr. Boldt and Mr. Sample, for being with us today.
Clearly, the role of our government, of any responsible government, is to empower and protect. Not just Canada but the world is moving towards a market infrastructure where investments will need to be green. Our businesses will need to meet those challenges and those criteria in order to be successful. Our role is to invest in their success.
That's why this study is very important to us. A bit like MP Morantz said, we want to know about, and be able to explain to regular businesses, the challenges they will be facing as the world is transitioning towards a green market infrastructure.
One of the keys issues you mentioned earlier is about what is meant by “green”. For example, if we have big collective investment vehicles and they need to have green portfolios to meet the criteria for investment, what would it mean to be green in those portfolios? What investments will be considered green?
I know there's a lot of work being done. There's a G20 sustainable finance group, and a road map that has key actions. Action number two is to try to identify countries, financial markets and institutions, and help them define the international standards around what it means to be green, as well as brown, because there are some products or investment products that will not necessarily be green but will be helping the transition towards a green economy.
I'm hoping you can tell us a bit more about two things. What work is there at the international level on green finance, and what are countries doing together? I know Europe is ahead of many countries, many regions, as is the U.K. Can you explain where the world stands right now in terms of green finance? What does it mean here for Canadian businesses?