We have absolutely no opinion on voluntary disclosure. In fact, we think companies that are prepared to disclose their numbers on their own to do so because they think it will benefit them. If they decide to disclose, so much the better.
In our view, mandatory disclosure is problematic, because it would impose significant costs on businesses. The main problem, as we explained in our presentation, is that these costs would be passed on to the companies' suppliers.
We know that Canada has a productivity problem. Productivity is declining, and that has a direct impact on our standard of living. We also know that we're having trouble attracting the investment we need to boost productivity.
Let's contrast that with our neighbours to the south. The U.S. Securities and Exchange Commission examined scope 1, scope 2 and scope 3 emissions disclosure and determined that scope 1 and scope 2 emissions should be disclosed, but it wasn't prepared to require scope 3 disclosure, which is the most expensive.