The third main element of the bill is the Financial Market Authority's responsibility for monitoring disclosures and enforcing compliance using its existing statutory powers, and the fourth key element is that the XRB will be able to issue guidance material on environmental, social, and governance—or ESG—reporting, and other aspects of non-financial reporting. That guidance will be incredibly important as we transition to this becoming standard practice for businesses. And I expect to see wider take-up beyond those 200 who will be mandated, as investors start to demand clearer reporting, more consistent reporting.