Finance committee  I guess I'll give a two-part answer here. First, the proper governance structure and proper consultation more broadly than just the Sustainable Finance Action Council is very important for defining a taxonomy. I think what colleagues on the floor have raised about ensuring that the final product aligns with what is scientifically agreed rather than being biased by any particular interest is important, so broader governance consultation is important.

Finance committee  Thanks. I would give my earnest respect to the people in communities who have devoted their lives to those industries up until this point. I would point to the need to align with limiting global warming to 1.5°C to limit the devastation that we've been experiencing from wildfires, and other climate catastrophes, in many of those same communities.

Finance committee  I'd say the clear line here is climate-related risks occur in greater numbers as temperatures continue to rise. Temperatures continue to rise from more emissions. Getting the financial sector in the right direction to invest in a trajectory that lowers emissions, that lowers Canada's emissions and lowers global emissions, would keep us on track for a safer world with less warming.

Finance committee  Thank you for your question, Mr. Garon. We are certainly at a time when policy leadership is an opportunity on climate finance. I mentioned a number of other jurisdictions that are moving in this direction, including most of Canada's largest trading partners. An important piece here would be to recognize that Canada is currently behind other countries when it comes to setting climate finance rules and regulations.

Finance committee  Sure, thank you.

Finance committee  Absolutely. Thank you for the question, MP Blaikie. I'll start maybe by expanding on that information I provided. It was from Oxford net-zero tracker, which does a study about net zero commitments globally. They were the ones that highlighted that only 4% of global commitments from companies are backed up by action.

Finance committee  Good morning. Thank you for inviting me to appear. My name is Julie Segal and I lead a climate finance policy program at Environmental Defence Canada. I am an author of a policy road map to a sustainable financial system in Canada, which we published last November. I also contributed key public input about the draft sustainable taxonomy and on the climate-aligned finance act that is currently in the Senate.