Oh, my God, that's a good question.
The advantage of contribution agreements and grants is that they bet on the expertise and innovations coming from partners, so they're not trying to build up a bureaucracy to do things internally.
For example, if you go with the Federation of Canadian Municipalities and you develop a green fund, you have an organization that has a direct relationship with municipalities, and you basically go with municipalities that know what to do on the ground to deliver adaptation, for example, rather than having somebody from Ottawa coming and saying, “This is what we're going to do.” That's the advantage of the contribution agreements.
The disadvantage is that you don't necessarily have a direct cause and effect, if you like. You're not the ones doing it, so you really have to choose a good recipient and make sure you agree on the nature of the partnership.