I think the ESG numbers are in the trillions. Institutional investors all the way down to individual investors want to invest in ESG. We're talking about trillions, and it continues to grow.
One challenge with having these programs that you speak about is that they are aspirational. There are not a lot of sanctions. If I don't do this, if I don't produce a report or if I don't meet these metrics, there are no sanctions, really. That's one way to look at it.
The other thing is we have to decide if we are going to operate differently. Not being as bad as the bad guy doesn't really make anyone the good guy, if you know what I mean. Basically, what we have to do is say, “This is how Canada operates.” We have a stellar reputation. Canada has a great reputation for being all kinds of wonderful things. Do we want to protect that, and how?
The EU has.... Somebody mentioned critical metals and minerals. Do we want to have legislation? Why don't we have that?
I think it's important for us to look ahead. A lot of industries are being affected by this. They are producing integrated reports. There is going to be a requirement to report on all three dimensions—the environmental, social and financial. We are seeing that in the global financial markets.
We can either get ahead of the curve and say, “This is how we do business,” and stick to it and find a way to be competitive within those new parameters, or we say we're just going to continue on as long as we can and just milk it.