Absolutely.
The green economy supercycle is basically those elements, those products, those goods that will be required to transition the world to low carbon and net zero. Canada has a very clean electricity grid at 83%, so we have the ability to basically produce and export products that are lower carbon than our competitors.
For example, we have the lowest-carbon aluminum in the world right now. Our steel, made from blast oxygen furnaces for that technology, is also the lowest carbon in the world. Our metallurgical coal that comes out of western Canada has half the greenhouse gas content and carbon footprint of that same coal coming out of Australia. The same goes for many of our forest products. Our pulp industry is the cleanest in the world right now from a GHG per tonne on various pulp products.
We have a huge opportunity, not only in terms of the cleanliness of the products, but also in terms of our markets. We have the U.S. adjacent to the south. We have the EU off to the east. We have Asia off to the west. We also produce a lot of the things that the world is going to need.
I'll give you an example right now around battery manufacturing and zero-emission vehicles. Canada has abundant sources of nickel, lithium, graphite, cobalt and copper. Those can be produced in Canada with low-carbon content. They can be used in Canada as well throughout the battery manufacturing cycle and then used in zero-emission vehicle manufacturing. You may be aware that the big three automakers all have agreements now with their unions and the various levels of government around producing zero-emission vehicles in Canada. It makes sense that we would back up that supply and value chain and start looking at not only the batteries that go into the vehicles but also the metals and minerals that go into them.
That's just an example of the green economy supercycle. I believe the term was coined by Bloomberg finance.