Thank you, Mr. Chair.
Mr. Egan, thank you for being with us this afternoon.
As I listen to you speak, I can't help but bring up UN secretary-general Antonio Guterres, who in August called the record profits by the oil and gas industry immoral in the middle of a global energy crisis. Earlier this year, in April, he had already said that investing in new fossil fuel infrastructure was moral and economic folly.
We learned recently that among the G20 countries, Canada is the second highest public funder of fossil fuel projects. Each year from 2019 to 2021, Canada invested up to US$8.5 billion in fossil fuel projects.
Given the current situation and considering the comments by the secretary-general of the United Nations, who describes the race to develop fossil fuels as madness and immoral, how do we reconcile what you're saying here this afternoon with these warnings from the UN secretary-general?