Thank you, Mr. Chair.
Thank you to the witnesses.
My first question is for Ms. Zvan.
To start, good morning, Ms. Zvan. I'm interested in your taxonomy road map.
In the preliminary documents that were released and provided to the committee, you refer to what are called transition activities. They include the use of carbon capture to reduce the intensity of greenhouse gas, or GHG, emissions per barrel of oil. Consequently, small modular nuclear reactors could produce more oil with lower per-barrel emissions, and that would be considered a transition activity.
Unless I'm mistaken, it seems to me that if we reduce GHG emissions by 10% per barrel while increasing oil production by 30%, we are actually increasing GHG emissions, since Canada's targets are based on total emissions. The planet doesn't care about emissions per barrel because total emissions are what matter.
Isn't that sort of taxonomy akin to greenwashing, in that it makes people think a transition is under way, when we are actually increasing our GHG emissions significantly?