Mr. Speaker, first of all, in terms of the economy, I believe that the hon. member is just as knowledgeable about it as we are. He has read the report by Mr. Stern, formerly of the World Bank, who said that if every country invested 1% of GDP to decrease greenhouse gases, we would realize savings in the short term as opposed to incurring much higher costs—20 times higher—that we would have to pay in future.
I believe we will have to invest $7.5 billion if we do not take immediate action to decrease greenhouse gases. Future generations and our economy as a whole will be affected. In addition to the impact on the economy, there will be the human cost. There will be many deaths. There will be loss of life among our children. Populations will be displaced because of inaction.
In reply to my colleague's question, the current proposal states that the exchange will be established in Montreal. Why not in Montreal? We are masters of—