Thank you very much.
Energy for a Secure Future, or ESF, is an initiative focused on building a new conversation about the future of energy in Canada and our potential global role in supporting our international allies with energy security and sustainable development. Our national network includes unions, indigenous leaders, farmers, mayors, industry leaders and others who share a vision for this role for Canada.
I would like to propose three themes for the committee to consider as foundational to Canada's Indo-Pacific strategy. The first is energy security, which is a top priority for our allies. The second is environmental performance and the role of Canadian LNG, and the third is economic growth for our own country.
Since our founding in early 2023, ESF has produced two discussion papers related to our potential global energy role. One focused on how indigenous ownership in the energy space has evolved and is playing a role in a secure energy future. The other was on the value proposition of Canadian LNG export opportunities. Following the launch of these papers, ESF has engaged with members of the diplomatic community in Canada. This includes ambassadors or consuls general of our G7 allies as well as key G7 and G20 partners, including India and South Korea.
What we've heard is that many of our Indo-Pacific allies continue to rely on energy from Russia, despite their desire for alternatives, and all see the potential reliable supply of Canadian liquefied natural gas as beneficial to their long-term objectives around energy security and democratic co-operation.
Here are some figures to consider. Two-thirds of South Korea's electricity generation is provided by fossil fuels, of which 98% are imported. Coal represents 40% of that electricity generation, of which 81% is imported from Russia. India is the third-largest energy consumer in the world and gets roughly three-quarters of its primary energy from coal, petroleum and natural gas.
In the past two years, India has increased its imports of price-discounted Russian energy. What we have heard from them is that buying LNG from Canada is desirable and would be a lower-cost alternative to many, including the United States. This committee has already heard from Japan's ambassador on this subject. They, too, see important value in Canadian LNG for meeting their energy needs.
Today, Canada is not a global security player, and we are excluded from many major initiatives, including AUKUS and the quadrilateral security dialogue. If Canada truly seeks to be a strategic ally in the Indo-Pacific, energy is one of our most potent cards, and it is vital that we listen to our friends in the region when they describe their needs and priorities.
On environmental performance, Canada's climate change objectives, specifically our Paris target, are often used as the reason our natural gas production should not grow or our domestic manufacturers must bear higher energy or carbon costs. While responsive to the Paris Agreement, this target does not move the needle on global emissions, which is the meaningful goal. Papers from the Canadian Chamber of Commerce, the National Bank of Canada and others have highlighted the important environmental role of increased LNG exports from Canada.
The chamber's paper highlights that displacing 20% of Asia's coal-fired electricity with Canadian LNG would reduce global emissions by more than Canada's total GHG emissions in 2021 annually. Analysis from the National Bank of Canada shows that, if Canadian LNG were an alternative to India's current plans to double coal production by 2030, the equivalent of three and a half times Canada's total 2021 GHG emissions would be reduced annually.
This brings me to the third theme, which is domestic economic growth. An effective Indo-Pacific strategy means more high-income jobs for Canadian workers. Earlier this year, I, alongside our partners in Canada's building trades, met with the federal labour minister to convey the importance of LNG jobs to Canadian workers. These are some of the biggest job contracts in the country, and these jobs underpin social mobility in Canada.
Indigenous nations are owners and partners in the export facilities, pipelines and upstream gas production of Canadian LNG. The Cedar LNG project will be the first majority first nations-owned LNG project in Canada's history. Canada's role as an LNG player will meaningfully create prosperity and advance reconciliation for these nations.
Finally, if we want to address the productivity and investment gap in Canada, then we need to be a place that gets things done. Showing focus and commitment in our approach to the Indo-Pacific and delivering for our allies can be an important part of this demonstration.
Thank you.