Thank you folks. This has been a fascinating discussion.
My concern is that I feel in Canada it's so very parochial, because when we start looking inward and our failures to address these issues, it somehow becomes that we're being mean to the oil sector and to Alberta, when that's not the issue. The issue is, how do we get through this as a country and as a planet?
I think of the environment commissioner, who's just stated:
Canada was once a leader in the fight against climate change. However, after a series of missed opportunities, it has become the worst performer of all G7 nations since the landmark Paris Agreement.
He adds:
we need action and results, not just more targets.
To that, Dr. Hastings-Simon, I'd like to talk about “bankable”, because we have this thing that we're floating here, that we can do massive increases in production, but somehow those are separate from emissions.
Yet in the last three years, the insurance giant The Hartford has pulled out of Canada. The Swedish central bank has pulled out. The financial giant BlackRock has pulled out. Agence AXA International has pulled out. AP7, the Swedish company has divested. BNP Paribas group has divested. Le groupe Société Générale of France has pulled out. The Norway sovereign wealth fund has pulled out. The Swiss Re Group and Zurich Insurance have pulled out. They all don't believe that Canada is serious about having a credible environmental plan for our oil and gas sector.
This is what Mark Carney is talking about. The financial sectors are making decisions, and they are leaving Canada because they simply don't believe us.
What do you think we need to do to stabilize employment, particularly in western Canada, by starting to make some investments in the new clean technologies, as opposed to continuing with this ongoing, ongoing, ongoing claim that we're going to increase oil production and somehow save the planet?