Thank you, Mr. Chair.
Mr. Youngman, I would not want you to judge the way I spend my leisure time, but last night I looked at the website of the Canadian Bankers Association. I tried to find the most recent initiatives implemented by our large financial institutions with regard to transition finance. I have to admit that it was very hard to find anything on their website. It doesn't seem to be one of their priorities.
I then visited the website of the Insurance Bureau of Canada. The green transition initiatives were easy to find, stood out and were well presented. It implies that, in terms of transition, insurers are ahead of other financial institutions.
The way I see it, insurers today are dealing with the direct and immediate financial consequences of climate change, as are their shareholders. Conversely, banks, including Canadian ones, which are deeply involved in the oil sector, will only be feeling those effects in the long term. This leads me to believe that in certain sectors, such as banking, we need government policy that includes financial incentives linked to prices. This might nudge our banking sector into starting the transition so that these incentives are as effective as they were on the insurance sector.
What do you think about that?