The key requirements for the governance model are really the integrity of the science of the 1.5°C and the broad involvement from, I would say, the federal government as well as provincial stakeholders, indigenous rights holders, civil society and financial players. When you look across the 30 taxonomy efforts, often the government sector is made up of the financial regulator or the central banks, because they are the closest to the financial sector in terms of working with the financial sector and overseeing it.
They need to form the majority in the core part of that government structure to have international credibility. We think that for Canada, including indigenous rights holders is an imperative as well as including civil society, and the financial players need to be there in minority to help with the pragmatic implementation of the taxonomy.
We are working through more detail at the moment. We will be presenting it to the SFAC on July 4. They will contain those elements. They will also contain three stakeholder advisory forms, one for the provincial and territorial governments and indigenous rights holders, one for civil society and then one for the financial sector advisory group trying to bring in permanent groups to bring those perspectives, and they will also look to sit on the council.