Thank you, Mr. Chair, and thank you all for being here.
I'll start my questions with Dr. Bataille. Going through your report, I have a couple of questions that have come up that I don't fully understand. Perhaps you can help me understand what you're trying to say.
My first question has to do with the price of carbon. When you talk about raising carbon to $200 a tonne, are you talking about a cap and trade system or a carbon tax?