Thank you very much.
Maybe I'll just start with a few comments.
It seems to me that—and we were just talking about this—in the insurance industry, for instance, they're starting to feel the financial effects of climate change. They're motivated to try to protect their profits from the potential harms of climate change, and I think many insurance companies that are large enough are going to get the information they feel they need from companies they're considering investing in in order to be able to make their own decisions about what makes sense for them and what doesn't.
I think the trick here is figuring out how that's done in a transparent way, how that's done in a way that marshalls those financial institutions' investment toward a credible climate plan, and I think also ultimately in a way that Canadians can digest. I think a lot of Canadians, when they're thinking about their own personal savings for retirement, want to be able to have some stewardship over their own money and resources and feel like they're contributing to what they see as being the solution.
I want to start from that point of view. If I'm your typical Canadian with a little bit of savings and I'm thinking about my retirement, I want to invest in a way that I see as contributing towards part of the climate solution. What are the things that have to be in place that are not currently in place to give me confidence that I'm not being had by some greenwashing venture and that, when I think I'm investing in something that is part of ultimately reducing our carbon emissions and meeting our climate targets that I really am?
What would you say are the components missing, either in the Canadian-specific context or internationally, for me to have a regime that I can trust in the way that a lot of Canadians trust the Canadian Food Inspection Agency, for instance? Canadians don't usually do their own research when they go to the grocery store to ensure that their food is safe, because there's a regime in place that they have confidence in, and they can say, “Okay, when I'm buying this product, I can take it at face value because the regulator has done the homework behind the scenes to ensure that I'm getting the product that the company I'm buying it from says I'm getting.”
What do we need in place in order for Canadians to be able to invest their money in climate solutions?