Smith StuartSTUART SMITH (National—Kaikōura): Thank you Mr Chair. Perhaps I can fill a little time in while the Minister does some homework. Look I think we have to be clear about what this bill is about. I think it was all laid out by the Minister in his opening statement where he said we are world leading—others are following and they're following fast but we are world leading. That's what this is all about. We're trying to get ahead of the game and do something around climate change because actually we haven't done anything other than declare a climate emergency. The only urgency that's been shown around climate has been the declaration of a climate emergency and nothing else has followed.It would seem strange that this would be the bill that would seem to be their get out of jail free" card particularly when we don't actually have the standards and we won't have the standards until 2022—December of 2022 actually is when we'll get the standards—and the Minister said that public entities are going to have to report in 2021-22 which will be ahead of the standards that will be set for the private companies and public companies. So the public entities are going to report—what? What exactly are they going to report because we don't know what the standards are? Are we going to have a whole lot of a hotchpotch of reporting and the Government entities sitting back there congratulating themselves on how well they've done but how well against what? That will be the question.I note also that the one thing the licensed insurers and the banks and the credit unions are in the business of is actually measuring risk. Everything they do is measured against risk and climate change is just another one of those risks and they are very well aware of it so I think this is just another needless impost on business. I would like to know what assessments were done by officials into the costs of reporting to these standards. Are we expecting that all that will be required will be the normal risk which will probably cover all this anyway? Will it be acceptable if they're lifted off their records and collated into a form to meet their standard or are we going to have to go back through and reinvent the wheel and actually come up with the same result but do it in a different way which will add significant costs to business? Actually all business at the moment is struggling when we have something really real and present out there that we need to deal with in a business sense when businesses that are going to be captured by this are already doing probably way more than they're going to be required to—and way more I suspect Minister than the letters of expectation that will go to the public entities. They understand risk but they also understand what their customers want and need and their customers are interested in climate change and in seeing that the people that they deal with on a day-to-day basis are living up to their expectations.So I just see this as a solution running around looking for a problem and I think as I said in the beginning it's all about having something to announce in Glasgow so that the Minister can puff his chest out as he walks around in Glasgow saying "Well we've actually done something. We're world leading." Yeah we're world-leading—at what exactly? So I look forward to the Minister's answers to the questions. Hopefully he's got the very insightful questions that Andrew Bayly has asked; he should have the answers to those. And given that they revolve around the Minister's own Supplementary Order Paper I would have thought they would have been top of mind. So we look forward to hearing the Minister in his response to those questions. Thank you."