How does environmental regulation impact Patch's business strategy?

They're tremendous. The SEC piece is still in the public comment phase, but they’re talking about a whole new level of scrutiny being put on companies’ emissions commitments.

Just two or three days ago, a new UN watchdog group announced they’re going to be working to evaluate corporate sustainability claims. There's a huge new level of scrutiny that’s going to be on these organizations, and that’s going to be driving a lot more action.

A lot of these CEOs who made net-zero by 2050 claims aren’t going to be around in 2050, so there's a new level of, "Okay, you made that claim but how are you actually today taking steps towards that future?" 

Once there's this new pressure and maybe one or two companies get in trouble and face some sort of ramifications, that's going to dramatically catalyze the amount of pressure put on those companies’ peer sets to take action both on their reporting reduction and compensation side of things.