Thank you for the question, MP O'Connell.
The Canada Infrastructure Bank has terrific promise on the adaptation side. The scale of the problem, as you've heard from witnesses, is far too great for any level of government to address alone. The private sector should be at the table. The private sector should be viewing this as an investment opportunity. We should be able to crowd private capital into these projects. We have companies with investment arms that are actively looking for projects right now. This isn't hypothetical. You need some sort of mechanism or broker to blend that capital and come up with the term sheets.
What the Infrastructure Bank does is assume risk at the front end and then at the back end, and it makes it easier, basically, for private sector capital to flow into these deals. That mechanism, in our view, is very important if we're going to meet this challenge together.
We actually hold the Canada Infrastructure Bank. We know it's taken a bit to get going. It's a very ambitious enterprise, but it's a necessary vehicle to make sure that the private sector is also at the table.