DAMIEN SMITH (ACT): Thank you. This omnibus bill will amend the Financial Markets Conduct Act, Financial Reporting Act, and the Public Audit Act 2001, but it is a very single, broad policy to broaden non-financial reporting by requiring and supporting climate-related disclosures, and it's mandatory. This bill will have no impact on reducing emissions or meeting our international climate change commitments but will increase costs to business. In New Zealand, we already have an emissions trading scheme (ETS) and a Climate Change Commission to set up a plan to meet our international climate change obligations. Increasing bureaucracy on companies, the 200 or so organisations, will make no difference. It will not lead to smarter, more efficient capital being deployed, and it won't help the smooth transition to a more sustainable, low-emissions scheme.