What the history of Canadian climate policy over the last 25 years has shown is that we have relied mostly on a subsidy approach and that we have not gotten the type of results we anticipated from this.
Essentially, giving an incentive for people to invest requires some kind of pricing on emissions. I think all three of us have made that point in one way or another. That gives this active role. Every time you can cut a tonne of emissions, you basically avoid paying the tax, if you think of it that way. There is a continuous type of incentive in that system.
My view, for all of this, is that you need a combination of the two. You need to give a clear signal that there is a cost to emitting, but you also need to provide some R and D or public sector investment in innovation, the way you put it.
To me, the two are not separable. Relying on just one is missing part of the strategy.