Environment committee  We need predictability and stability. There are many ways of achieving that. At the end of the day, there's not just one way, and there are multiple tools to do that and to effect that.

Environment committee  I'm sorry. No, I'm not familiar with the report you're referencing.

Environment committee  We are very concerned about the overall impact of higher interest rates on Canadians. We're working with Canadians on their mortgages. As you know, mortgage rates and bond pricing are set by the market, at the end of the day. We are working—

Environment committee  —very hard with Canadians to help them continue to manage their finances.

Environment committee  Is that average household income, or—

Environment committee  I don't recall the exact number in 2023.

Environment committee  I'm not sure what—

Environment committee  My compensation is set by the board and includes a number of publicly disclosed financial targets, strategic targets and climate targets. Ten per cent of my.... It does not include any specific reference to oil and gas.

Environment committee  Yes, we met those targets. Given the strong performance we had in helping influence policy, the climate institute and the renewables program—the $400 billion in sustainable financing we put in there—the leadership we've shown on policy.... Yes, we met our targets in 2023.

Environment committee  When you look at the whole emerging industry of sustainability-linked loans, this is a very important issue. It's an emerging category that investors have really focused on quite significantly globally. Each loan, each facility, is tailored to the individual issuer according to what sector they're in and what they're trying to achieve from a sustainability perspective.

Environment committee  What a wonderful question. Stability is the essence of investing—predictability. When you talk to the energy industry, when you talk to the manufacturing industry, when you talk to the EV battery industry, and when you talk to the banking industry, we're making long-term commitments.

Environment committee  I'll leave that specific question to you, the energy and the role of government to play with each industry and understand the overall ecosystem you're trying to build. We do have to get on with carbon emissions reduction. We have opportunities to invest in carbon sequestration and carbon capture that have to move through.

Environment committee  These activities come from the resources of RBC. They come from the balance sheet of RBC. They come from the health and strength of RBC. When we can make a commitment of $500 billion, it comes from our balance sheet. When we make an unprecedented commitment of $15 billion on renewables, it comes from our balance sheet.

Environment committee  I'm sorry, but could you repeat your question? I didn't quite get it.

Environment committee  The work has been ongoing for a number of years. It's a multi-industry group that's working with various levels of government to come up with recommendations. It's vetted through the Canadian government. The cost is being absorbed by all the participants who are donating their time to come up with what is a very important part of the overall success of our journey.