Thank you.
So we believe that the federal initiatives to reduce greenhouse gas emissions—making our cars, our homes, and our industries much more efficient in their energy use—can achieve greenhouse gas reductions of 65 megatonnes from projected levels by 2020, equivalent to taking more than 16 million cars off the road, or eliminating the combined emissions of New Brunswick, Nova Scotia and Manitoba. So these are very large numbers.
These tough federal regulatory and other actions are expected to result in greenhouse gas reductions of 230 megatonnes from projected levels by 2020. That is a huge number, Chair. Yet even with these tough new federal regulations and the promises of some provinces to close dirty coal-fired power plants and to increase their use of renewable and nuclear energy, the emissions from electricity generation are projected to be 90 megatonnes in 2020—still the single largest source of greenhouse gases in Canada.
The Government of Canada wants to achieve additional emission reductions from the electricity sector of 25 megatonnes by 2020—and that's in only 12 years from 2008. So in this very short period of time, there will be an additional 25 megatonnes in reductions from the electricity sector, equivalent to closing seven large coal-fired power plants. We're therefore setting up a clean electricity task force to work with the provinces and industry to meet this goal. If required, the Government of Canada is ready to use its regulatory powers to ensure that these cuts are achieved.
Provincial governments are already committed to targets that would require achieving greenhouse gas reductions of as much as 300 megatonnes by 2020. Over 200 provincial initiatives have been developed to date to begin achieving those great goals. While some of these initiatives overlap with federal actions, it is estimated they will provide an incremental 40 megatonnes in emission reductions by 2020. Most provinces have indicated they're planning to do even more to meet their own targets.
The Government of Canada has provided over $1.5 billion in new funding to the provinces and the territories to support their climate change initiatives. That's good news. I want to thank the Liberal members for supporting that. Unfortunately, the Bloc and the NDP voted against that $1.5 billion in initiatives to fight climate change.
We're convinced it's realistic and achievable for provinces and territories to take further action in the areas where they have important responsibilities, such as building standards, public transit, and urban planning. This is very important: public transit will not be successful if you do not have well-planned, sustainable communities.
We expect that the provinces will introduce new measures that will result, at minimum, in an additional 35 megatonnes of reductions in greenhouse gas emissions. These will enable Canada not only to meet but, potentially, also to surpass its national target of a 20% absolute reduction in emissions from 2006 levels by 2020.
Canada will play an important role in negotiations to develop a new international agreement on climate change, with contributions from all the major emitters, including the United States and China and India. We should be seeking to ensure that global emissions are cut at least in half by 2050. The Government of Canada has committed to achieving a 60% to 70% reduction in Canada's emissions by 2050.
At home, we will stop the dramatic growth in our greenhouse gas emissions and cut them by 20%, in absolute terms, between now and 2020, as I pointed out, which is only 12 years away. This will require all of us to do our part: the federal, provincial, and territorial governments; municipalities; industry; and individual Canadians. Together we can meet our target. In doing so, we as a country will put in place large-scale carbon capture and storage and other existing technologies; we'll generate 90% of our power from sources that do not emit greenhouse gases; and we'll increase electricity from renewable sources, like wind and wave power, by 20 times. These are examples of this government actually getting it done. We'll cut greenhouse gas emissions from coal by more than 50%. We'll increase average fuel efficiency in new vehicles by 20%. We'll improve Canada's energy efficiency by 20%. That's our national energy efficiency.
These and other actions will change the path of Canada's greenhouse gas emissions. Canada will move from rapid growth to achieving absolute reductions of 20%, based in 2006 levels, and a reduction of 330 megatonnes from projected levels in 2020.
The challenge to meet these targets by 2020 is great. It's a big challenge. However, the Government of Canada believes in the commitment, ingenuity, and willingness of Canadians to tackle the challenge of climate change while continuing to grow our economy. Together we are ready to face the challenge and to win.
Chair, we need to win. We need to reduce the amount of greenhouse gases that each of us is responsible for. There are lots of opportunities and lots of ways to find out how we can reduce our carbon footprint. And it's fun to do. As I mentioned earlier, I replaced all my light bulbs, but I also bought a new hot water tank and found out that the new hot water tank was a lot more efficient. Also, when I leave the Hill, I turn my hot water tank off. Why heat water when we're not here? So I've done that. At home, I've reduced the temperature of the hot water tank. I have a new efficient hot water tank and efficient light bulbs.
What's also good is that I'm not the only one doing it and that it's fun; we have a lot of Canadians doing it. With more and more energy-efficient light bulbs available, the prices have come down. And we have a way of disposing of the light bulbs, because you don't want to just take the fluorescent bulbs and dispose of them in the regular garbage. You want to bring them back to where you got them. They will collect them and dispose of them in a safe manner, because the fluorescent bulbs have mercury, and you do not want to just throw them away and have them break and release the mercury.
That brings up another point, Chair. The government is very concerned about the mercury content in our environment. That's why we have a new program requiring vehicles that are scrapped to have the switches taken out of them to capture that mercury. We do not want it released into the atmosphere. The days of using our atmosphere as a dumping ground for greenhouse gas emissions, for mercury, and for pollutants are over. This government is very serious about reducing the amount of greenhouse gases we're putting into the air.
Our regulations will have real, tangible health and environmental benefits for Canadians. These benefits, in turn, will have positive economic effects. A robust regulatory system will also promote technological investment and innovation in Canada, yielding long-term economic benefits from enhanced productivity, improved energy efficiency, greater competitiveness, and more importantly, the ability to sell Canadian products and know-how abroad.
When I was at that global conference, it wasn't just Iogen that I saw there. I saw energy-efficient vehicles. I saw solar technology. I saw a technology for operating rooms. The gases coming from the anesthetics that are provided in operating theatres have 12,000 times the impact of carbon dioxide, so capturing those gases and having them brought down and managed in a safe manner is very good for the environment: 12,000 times carbon dioxide from the operating theatres.
Instead of having methane, which is a natural gas but is 21 times stronger than carbon dioxide, you capture that from landfills, from animal waste, and just by flaring it, it becomes carbon dioxide, but you can capture that and use that as a commodity to run vehicles. It provides a balance within our system. Instead of pulling more fuels from below the earth, we recycle what we already have above the earth. It provides that technology not only for Canadians but for the world.
We saw that at the trade show. It was exciting that a lot of that technology is happening right here in Canada. We're sharing that with the world too.
We also saw Iogen. As well, we saw other waste products, cellulose waste, trees. They can take trees, or waste product from trees, and make fuel from it too, which I think is a better way than taking food stock. We use cellulose technology to create the ethanol, and you can then run your cars and vehicles in a much more environmentally friendly way.
Each of us needs to do our part, but a lot of the world-leading technology is right here in Canada. It's very exciting.
Strong regulations will inevitably come at a cost, and those costs will be borne, at least in part, by every individual Canadian and his or her family. Consumer products, including cars and home appliances, could become more expensive. Electricity and fuel prices will rise. All Canadians must be prepared to bear this extra responsibility in order to get the job done. This government is committed to doing that, and I know Canadians are too.
In implementing the clean air regulatory agenda, the government will work with provincial and territorial governments, industry, environmental health groups, scientists, municipalities and communities, and individual Canadians. These partnerships will ensure that all segments of Canadian society have the opportunity to reduce their emissions and achieve a cleaner, healthier Canada for current and future generations—other examples of this government setting the example and getting it done.
As a side note, we have now hydrogen-powered buses on the Hill. The typical bus that we see running around on Parliament Hill is a green bus, and there are some white buses for the Senate. But we also now have hydrogen-powered buses. They're burning hydrogen, and the only thing coming out of the exhaust pipe is water. It's very exciting, another example of Canadian technology.
The government is also taking other action. In the last Speech from the Throne, the government committed to take measures to achieve—