The market that includes Quebec, California and Ontario as well as the State of Washington, which is getting ready to join in, is extremely dynamic. It works, and takes advantage of certain mistakes that were made in the context of the Kyoto Protocol. For this market to continue to develop, it is important and even essential that the negotiations that are to take place in Paris in December 2015 be successful. Who has the responsibility of negotiating a climate treaty? Not the provinces, but the Canadian government.
It is important that the Canadian government and the provinces already in the carbon market sit down as soon as possible at the same table and define a common, strong and logical position so as to succeed in the climate treaty to be negotiated in December 2015, which is an extremely important undertaking,.
We cannot wait till November or two weeks before; work has to begin today. We must not fail in Paris. The last time there was a conference when all of the parties were together was the one in Copenhagen. They did not succeed in extending the Kyoto Protocol, and it took six years to again mobilize the international community under the leadership of Mr. Hollande, the President of France. We must not fail this time, because if there is no very clear treaty, private capital will not be there.
We should not forget that following the ratification of the Kyoto Protocol in February 2005, businesses launched 8,000 clean development mechanism investment projects in developing countries. I made such an investment myself in Salvador. It was the only Canadian project registered under the clean development mechanism of the Kyoto Protocol. These 8,000 projects led to private investments of $152 billion. So there was a mobilization.