Thank you, Mr. Chair.
Mr. Routledge, my questions are about the relationship between zombie firms and the financial institutions that manage them, and the links between zombie firms and climate risk management.
You are no doubt aware of the study on zombie firms conducted by the Bank for International Settlements which was published in 2020 and updated in 2022. We can see a higher prevalence in Canada, due to the type of operations and their location. Many financial institutions are struggling to manage the debt of zombie firms.
How can financial institutions make good on their transformation and integration efforts linked to climate risk management? What will be the byproduct?