I can start.
Thank you for the question and for all of the work you've done over the years with respect to this committee and this area of interest.
The objective of the cap is to provide ambitious and achievable emission reduction targets in a way that will provide certainty and predictability. The intent of the cap is not to drive reductions in production that are not driven by significant declines in global demand. Setting the cap will provide clear expectations over the long term for industry as to what needs to be done to reach net zero by 2050—something the industry itself has committed to. A well-designed cap will send a long-term-price signal to industry regarding the need to innovate to reduce emissions, through investments in technology in Canada that will be able to greatly contribute to our emissions reduction efforts. We've already seen this happen with other regulations. Our efforts to reduce methane emissions saw the development of various innovative clean technologies—I referred to this earlier—to achieve this goal, and those can be shared and exported around the world as clean technology. In addition to a number of these kinds of incentives, our government has partnered and will continue to directly partner with Canadian innovators to drive investment and lower emissions.