Thank you.
I spoke about the rehabilitation of buildings. We have a lot of examples right here in Ottawa, including the Lester B. Pearson building, Place du Portage and within the parliamentary precinct, which we're renovating. These are all taking into account the GHG reductions through the materials we're using in those renovations. That's why we're using a significant amount of wood in the reconstruction or rehabilitation of all of these facilities.
I mentioned that in all of our large projects we use a shadow price of carbon of $300 a tonne, which was started at PSPC and is now endorsed by Treasury Board and applied to all major construction projects. Wood has lower GHG emissions than do other materials, so wood is going to be favoured.
I think analyzing this for a 40-year cycle, the life cycle of the building, makes having lower GHG-emitting material a lot more viable. It's not necessarily the price of the project. It's what we want to achieve, which is a reduction in GHG emissions. As my colleague said, we have made significant progress through our operations. I would say there's been a 57% reduction in GHG emissions based on the baseline of 2005, and now we're addressing the embedded carbon in the construction material.