Another deal we evaluated in the past year had significant potential market and policy risks due to the carbon-intensity of the core business model. We worked with a third-party ESG consultant to conduct on-the-ground diligence of the material ESG risks we identified. As part of that work, we modeled out investment implications under different carbon-pricing scenarios. We also incorporated improved monitoring of greenhouse gas emissions and a more robust approach to reducing those emissions over our hold period as part of our investment thesis, as we believe this would position us for a stronger exit.