Thank you, John.
Hello, everyone.
I am very pleased to be joining you today. I appreciate your invitation to talk about the investments this government is making to build a prosperous and clean future for the next generation, and to answer questions about the $315.9 million in expenditure requests contained in supplementary estimates (B), including $239.6 million for new funding or initiatives.
I am joining you today from the traditional, ancestral and unceded territories of the Squamish, Musqueam and Tsleil-Waututh nations.
Let me begin today by saying that I believe Canada is uniquely positioned to take advantage of the key growth areas that will be driven by the international transition to a clean future.
Around the world, financial markets are increasingly pricing climate risk into investment decisions. Smart money is flowing away from assets that are not compatible with a transition to a net-zero world and toward opportunities that are.
Just as any successful business must be capable of interpreting and reacting to changes in the business environment, countries must also be capable of thoughtful response and action if they are to sustain and enhance their level of prosperity. It is in this context that Canada can choose to be a leader in the global economic shift, or we can let it happen to us, with all the attendant consequences of being a late mover.
As the world moves toward a lower-carbon economy, a key question on which we must collectively focus is how to build on Canada's comparative advantages in a manner that will create jobs, economic opportunity and prosperity. My job, as I see it, is to work with folks across this country to determine how best to utilize the abundance of resources, technology and expertise that exist in this country, and pursue opportunities that will drive significant job creation and economic growth.
To remain competitive internationally, and to drive long-term economic growth, we need to think about economic opportunities at both sectoral and regional levels.
Opportunities from a sectoral perspective will come from new products that enable a low-carbon future, such as critical minerals, hydrogen, electric cars and buses, battery technology, renewable energy, low-carbon building products, small modular reactors and other clean technologies.
Regionally, each province has a relatively unique mix of its own natural resources. The economic opportunities available to them, and therefore the approaches to a clean energy transition, will be different across the country.
What we need is a plan based on comparative advantage, one that aligns the efforts and resources of all levels of government, as well as the private sector, and a plan that also respects the rights and interests of indigenous people. Such a plan must be thoughtful, collaborative and ambitious. It must create wealth and good jobs in every region of this country, while ensuring we achieve our ambitious and necessary climate goals.
I am working with the provinces and territories, as well as businesses and labour and indigenous partners, to establish regional energy and resource tables across the country, and to establish such a plan for each region of the country. Tables have now been set up with British Columbia, Newfoundland and Labrador, Manitoba, the Yukon, Northwest Territories, Prince Edward Island, Nova Scotia, New Brunswick and Ontario. I look forward to soon establishing tables with Quebec, Saskatchewan, Nunavut and Alberta.
We are currently investing in the areas we know will be a part of Canada's clean energy future. Through the fall economic statement, we announced significant investments in our clean technology industries. Through investment tax credits in hydrogen and other clean technologies, we are maintaining competitiveness in the face of increasing global competition.
We also announced the creation of a sustainable jobs training centre to bring together employers, workers and institutions to help level up over 15,000 workers with the needed skills for building a prosperous low-carbon economy. This is in addition to investments to help create over 20,000 more union-based apprenticeships.
We are also investing directly in households. Recently, we announced new support for those who currently rely on home heating oil. The $250-million oil to heat pump affordability grant can often be stacked with the greener homes grant for up to $10,000 in direct support per family to transition away from heating oil and towards efficient, affordable and sustainable heat pumps. Heat pumps are a measure that reduce emissions and home heating bills, while doubling as a climate adaptation solution by providing air conditioning in increasingly hot summer months.
I could go on, but my time is almost up. I will conclude by saying that the measures included in the supplementary estimates (B) build on and enable many of these important initiatives. I welcome the opportunity to further discuss how my department is working across government to make life more affordable for Canadian families while fighting climate change, and building a truly sustainable economy that works for everyone.
Thank you very much for inviting me to join you today. I look forward to our conversation.
