Environment committee  I'll ask Mr. Green. Could you be clear on the request?

Public Accounts committee  Maybe I could speak briefly to the issue of the conflicts of interest. It is abundantly clear that processes and procedures were not followed in the diligent way they needed to be by the board in exercising its responsibilities. The statute itself, a statute passed by Parliament 20-something years ago, mandates that the board of directors be composed of people—this is my layperson's explanation—with expertise in the clean-tech industry.

Public Accounts committee  Many of the day-to-day decisions and many of the elements of governance are in the hands of the board of directors. That doesn't remove our responsibility, to be perfectly clear, but it creates certain limits and practical issues. Many of those go away by moving the organization under the National Research Council.

Canadian Heritage committee  We're probably out of time. Maybe I'll conclude by saying this. I think at the end of the day, what's being made clear at the table is that it's not enough just to signal good intentions. Rather, what I'm hearing from folks is that we do need an updated Criminal Code in order to go after those who would create and propagate deepfakes.

Environment committee  I would have preferred the witnesses to be with us in person rather than by video conference, but I thank them nonetheless for being here. From the outset, I'd like to make it clear that your institutions are important and that, if you're at the head of these institutions, it's certainly because of your skills and talents. That said, we are at a crossroads. You have a moral and fiduciary responsibility to take concrete action.

Environment committee  In the meantime, we have also provided interim targets. We also annually provide a reporting suite with clear criteria as to how we measure our progress. In my opening remarks, I talked about the sustainability and decarbonization target of $500 billion in the first year alone. We deliver—

Environment committee  The taxonomy and disclosure rules have not yet been implemented in Canada, but they will be. How important is it to your organization that the rules of the game be very clear and common to all banks?

Environment committee  I think the taxonomy, to your point, brings us together on that point, and then we have to be clear on where the rules are. Investors do not like uncertainty. They prefer certainty and action.

Canadian Heritage committee  I was interested in the way that a person could create a deepfake video, specifically a sexual or pornographic one, and how that could violate a person's privacy rights, and in writing that paper I discovered the clear gendered dynamic to the creation and dissemination of these kinds of deepfake videos. As a case in point, around January this year somebody online made and publicly distributed sexually explicit AI deepfake images of Taylor Swift.

Public Accounts committee  If I may, I will summarize part of them and editorialize a bit, but I'll give you an opportunity to speak about them afterwards. My summary of this issue is, first, related to non-compliance of the act. You were pretty clear that there was non-compliance with the establishing act, which would provide some level of oversight to at least try to prevent some of the egregious issues we're seeing today. Conflict of interest was mentioned by my colleagues just now.

International Trade committee  I hear directly from them on how important their contribution is, not only to the Quebec economy but also to the Canadian economy. I have been very clear with the Americans, and we've done this at all levels—the Prime Minister and I—to register how harmful this is and how unjustified these tariffs are. We're going to keep working on that.

Canadian Heritage committee  First, Canadian legislation prescribing the non-consensual distribution of pornography, such as section 162.1 of the Criminal Code, should be reviewed and extended to include altered images such as deepfakes. Doing that would send a clear message that it is wrong and must be denounced. However, it is important to recognize that this is not enough. Unlike a real recording, deepfakes are not tied to a specific time, location or sexual partner.

Environment committee  Our extensive geography and geology allow for a growing mix of energy products at a time when the need for new and sustainable infrastructure across the continent, especially electricity generation, is undeniable. By clearing the obstacles that inhibit investment in technology and infrastructure, we have an opportunity to link Canada's climate strategy with our industrial strategy to reduce emissions and become recognized as a low-carbon, high value-add and high-IP leader in global sustainable infrastructure.

Public Accounts committee  This means that it's an organization in the private sector and is not owned by the government. The statute makes clear that SDTC is not an agent of the Crown. In this regard, it is totally unlike a branch of my department, a Crown corporation or even a third party that might act as our agent to deliver a program on our behalf.

Environment committee  As we've done at our bank since 1867, we're actively supporting the outcomes we all want for the future. We have a clear ambition and comprehensive disclosures, and we are making progress in helping clients transition their businesses to a low-carbon future. We acknowledge that there's more work to be done.