Environment committee  If you'd let me answer.... We've invested $200 billion to fight climate change and transition to a low-carbon economy. The Americans...about $370 billion. They're 10 times our size. We're investing way more than the Americans do.

Environment committee  In your question, you talked about the reports from the ministry of finance. As you know, I'm the Minister of Environment and Climate Change. I'm not the Minister of Finance. I haven't been the Minister of Finance.

Environment committee  Minister, it's always nice to see you in that chair answering our questions. We all agree that climate change is real, that something has to be done to reduce pollution and that each party has its own view of how to do that. Yours revolves around the carbon tax, and we have another perspective.

Environment committee  Some information comes from the annual greenhouse gas inventory, and other information is based on analyses by Environment and Climate Change Canada.

Environment committee  Thank you to the witnesses for being here. Through the chair, if we fail to take urgent action to address climate change, there will likely be places on our planet that will be almost impossible to live in. When we think of climate refugees, we often think about hotter countries, but Canada is actually warming at roughly three times the average mean warming rates.

Environment committee  I think that an issue as complicated and as significant to Canadians as climate change deserves better than a yes-or-no answer. I guess that's my point.

Environment committee  They are very close by, Mr. Chair; we will confirm right away.

Environment committee  First, our 2021 “Lessons Learned from Canada's Record on Climate Change” clearly illustrated the cost associated with weather-related events in Canada, which were equivalent to 5% to 6% of annual gross domestic product growth. These costs have real consequences for households and business owners.

Environment committee  Canada has set out what's called a whole-of-government approach to tackling climate change. Another analogy is “all hands on deck”. It's open to Canada, as responsible for meeting its own target, to determine which institutions are going to be involved in that whole-of-government approach to meeting the target.

Environment committee  The economic toll of climate change on Canada's GDP, exports and job losses is foreseeable. The global predictions released a few weeks ago are even more staggering. The 2022 federal budget estimated that Canada needs an additional $115 billion annually to meet our net-zero commitments.

Environment committee  I share yours. What risks are associated with separating the financial system from consideration of climate change risks?

Environment committee  More effective leadership and coordination are needed to advance commitments respecting the fight against climate change. We need more leadership and more coordination, and we need the will to act. This isn't just about acknowledging that there's a climate crisis; we also have to act in a manner consistent with that crisis.

Environment committee  I'm thinking of health and everything related thereto, which ultimately means environmental and climate change issues.

Environment committee  Recall that for 2026 Canada is just trying to get back to approximately where it started in 1990, when it ostensibly began getting serious about fighting climate change, along with its partners across the world. I would be satisfied if we were seeing year-over-year decreases that roughly match the graph line that would get us to the 2026 objective and the 2030 target of 40% to 45%.

Environment committee  I have committed to do more than the bare minimum under the newish net-zero act, which required a report on Canada's performance in mitigating climate change at least every five years. We issued our first one last year, and we will issue another one this fall. In the course of that audit, if we determine that we need all of that information, we will request it.