To the extent that a CBAM is implemented in Canada.... Generally, where we've seen CBAMs, they are linked to the domestic carbon price. To the extent that the price is applied to Canadian industry, specifically those trade-exposed, emissions-intensive sectors—and we always think about steel, aluminum, fertilizer and those sorts of things—a CBAM can help ensure that importers pay the same price as domestic producers within the Canadian market. That's certainly something we would look at as our colleagues from Environment and Climate Change Canada adjust the carbon price applied to those sectors. That is certainly something we would continue to take into account.
On December 2nd, 2024. See this statement in context.