Bill C-30 (39th Parliament, 1st Session) committee  I think the discrepancy in pricing comes from the fact that one is a voluntary system and the other one has a mandatory framework, which of course is the European. When discussing pricing, it's very important, especially when referring to the futures business, which price point w

Bill C-30 (39th Parliament, 1st Session) committee  Mr. Chairman, my view is that there will be consolidation. There will be a consolidation of platforms in Europe, but you nevertheless have to understand that Canada is a small jurisdiction in economic terms. You have to be realistic. In addition, over-the-counter activity is al

Bill C-30 (39th Parliament, 1st Session) committee  It's not a question of the advantages and disadvantages; it is that this is a global market whether we like it or not. If we do not structure a marketplace or allow a marketplace to develop where Canadian emitters are allowed to have a product line that is fungible with what else

Bill C-30 (39th Parliament, 1st Session) committee  I think the second biggest mistake we could make is not to have an infrastructure that would allow fungibility, meaning that the products here could be fungible into products in the U.S. or Europe or elsewhere; that our criteria would be different; that our certification and so o

Bill C-30 (39th Parliament, 1st Session) committee  Thank you, Mr. Chair. We think that an intensity-based system would add another element of uncertainty to the market. Now someone could argue that it is good to have an element of uncertainty in a derivative products market because ultimately it operates on assumptions of volat

Bill C-30 (39th Parliament, 1st Session) committee  I must confess, it's very hard to tangibly give a number. But I think the greatest tragedy, if we don't do something in Canada, is that the market is going to go elsewhere. That's the bottom line. The market is either going to go over the counter, as I explained in my presentatio

Bill C-30 (39th Parliament, 1st Session) committee  Thank you, Mr. Chairman. My comments will focus primarily on giving the committee a good sense of the structure that could be put in place very rapidly in the event the government decided to go towards an emissions-trading market mechanism. Essentially, my focus is going to be s