Environment committee  To be clear, is this support in addition to carbon pricing and regulations?

Environment committee  I think carbon pricing and flexible regulations should be the backbone of a cost-effective policy that will minimize costs to achieve deep emissions reductions. That being said, there are things that carbon pricing doesn't do. It doesn't necessarily provide full support to inno

Environment committee  Both could play significant roles on pathways to net zero to 2030, and on to 2050, and both should be part of the playbook. Ideally, policy is less technology prescriptive rather than more prescriptive. It lets the market determine where there are the most cost-effective opportun

Environment committee  I think it depends on the rate. If they are preferential loans that give the proponent rates that are better than they could receive in the market—

Environment committee  In some cases, yes, they are.

Environment committee  I don't have an numerical answer to that question at hand.

Environment committee  It would be a different—

Environment committee  I think both can be considered subsidies. It's a question of how big the subsidy is.

Environment committee  If the rate is better than they could receive from market value from the capital markets, yes.

Environment committee  It's a fraction of the piece, rather than the whole.

Environment committee  I think it's probably smaller than that. Yes.

Environment committee  That comes from commitments to achieve net-zero under the national climate process.

Environment committee  Not all of those countries have yet implemented policies. You are correct. That being said, the risk of them acting on their commitments should be taken seriously.

Environment committee  The risk of them acting should also be taken seriously. The risk of them moving, committing and following through on those commitments should be taken seriously.

Environment committee  Member, just as a clarification, please, are we talking about the target of achieving emissions reductions or the target of phasing out fossil fuel subsidies?