Thank you very much for the question.
That is, obviously, a very significant figure, and it speaks to the significant need in our existing housing structure. We estimate that approximately 80% of our current housing will be in place by 2050. If we're thinking of it from a climate mitigation aspect, those are buildings that need to be retrofitted and have emissions reductions associated with them, but primarily it's an investment in what is becoming critical infrastructure for the well-being of Canadians.
We're losing an incredible amount of funding and homes due to climate change now. We have increasing costs related to that infrastructure loss to health care. We often point to the experience of the heat dome in British Columbia, where over 600 lives were lost due to that over a two- to three-day period. There are significant costs now associated with climate change and the impacts to that infrastructure. It really is an investment in improving and trying to bring up to the required level housing for those who are most vulnerable, who are currently living in poor-quality housing and struggling to acquire the capital they need to make those improvements themselves.