Environment committee  I would say that sometimes industry and investors drive the agenda as well. We have examples—which I can't name—of our clients encouraging the studies that have been put forward to develop a tax in a country, because they see an economic opportunity for those companies that are h

Environment committee  They do it in two ways. They realize the profit value by reducing their own emissions, but they also capitalize, if it's an emission trading scheme, for example, to create a trading scheme in which they are primary actors and they can trade the credits as well.

Environment committee  They realize their own operations and additional revenue streams, definitely, yes.

Environment committee  Is that to me or the representatives?

Environment committee  I think I agree. I don't have the details behind it. I haven't done the research myself, but from a quick look on Google, I found the same sort of information, and I saw the Nobel laureate's position on B.C. as having a prime policy move in this direction. From the information I

Environment committee  I fully agree with that. I think this argument that the price of pollution is going to increase prices and we don't know where that money is going to get spent is the wrong side of the argument to be on. I think the real discussion is about how we make sure the money we generate

Environment committee  Every time you see the marginal value decrease, that's a prime space for innovation. I think it will pressure companies to innovate more in spaces of a low-carbon future. One of our clients, again, was driven through a carbon corporate policy that we developed for them back in th

Environment committee  I'll try to summarize a couple of thoughts around the comments from Mr. Godin. One, a carbon tax is not a silver bullet. We're at a point where we need all hands on deck, and all solutions we can come up with to get to the solution that you talked about, a 1.5-degree future by 2

Environment committee  We definitely are. There are a couple of things there. One, I disagree with the notion that we need to think globally and act locally. We need to think everywhere and act everywhere, because we're getting to the point that it's a critical issue. I do agree that we need to think

Environment committee  That's a great question. Why does a price on pollution necessarily get us to that pathway of 1.5 degrees by 2050? One thing that I'm unclear about in this overall discussion is what the government is proposing today. I heard you say carbon tax several times. That's not what I

Environment committee  I think there are a couple of facets here. One point I'd like to make is that carbon, unlike other commodities, is a fungible asset that is tradeable universally. In terms of taking an international leadership position, it's not only that. It's that if there's no universal price

Environment committee  That's what I'm suggesting. I think it's a pathway. If you look at a private sector company and the pathway to get to a zero-emissions future, the first step is disclosure. That's why Mark Carney and Mike Bloomberg set up the task force on climate-related financial disclosure. Di

Environment committee  I don't have that at hand right here, but the recommendations in the TCFD initial report would have some of those. There will be follow-up recommendations through those reports. What we are seeing is individual investors demanding things like CDP reporting from companies or remo

Environment committee  I didn't comment generally on the state of the economy. I'll note a couple of things on that discussion, and also coming back to the B.C. example. Sometimes we conflate the overall state of economies with one policy decision or market issue, such as the price on pollution. When w

Environment committee  That's a really good question, and it's a little bit outside of our realm. We tend to target large emitters, large companies, that can have substantial environmental and social gains. A portion of our business does look at venture-stage companies and SMEs in the international co