Mr. Chair, thank you for the invitation to be here to answer some of the committee's questions on Bill C-49.
I would like to begin by acknowledging that we are gathered on the unceded traditional territories of the Algonquin Anishinabe nation.
The legislation in question is an important one for Atlantic Canada's economic future and our country's future, as we work to reduce emissions, build out our electrical grid, create sustainable jobs, supply our allies with secure long-term sources of energy and compete in global energy markets.
It creates the legislative framework for moving the offshore wind market forward in Canada so that we can participate in a trillion-dollar global market that will grow rapidly.
We jointly developed this bill with the governments of Nova Scotia and Newfoundland and Labrador and engaged in consultation with stakeholders including industry, fishers, energy workers and conservationists.
We have done this because businesses and governments around the world are moving rapidly to seize the tremendous economic opportunities that will come from a transition to a low-carbon future, influenced in no small part by the rapid pace of international financial investments seeking low-emission products and sectors in order to maximize long-term gains.
The executive director of the International Energy Agency said:
The transition to clean energy is happening worldwide and it's unstoppable. It's not a question of “if”, it's just a matter of “how soon”—and the sooner the better for all of us.
Governments, companies and investors need to get behind clean energy transitions rather than hindering them.
Colleagues, today this committee has been entrusted with an opportunity to help Canada build a vital piece of our energy future: an offshore wind industry. At the present moment, 45% of all offshore wind production globally is in China. Among friendly countries, we are seeing large-scale deployment in the North Sea and more recently along the U.S. east coast, which the DOE estimates will attract $12 billion in direct investment annually.
Presently, there are over 40 projects offshore in the U.S. and hundreds more globally that are under way. There is extensive deployment occurring in Taiwan, which will be installing over 700 turbines in the Taiwan Strait by 2025. European countries, including the Netherlands, Denmark and the United Kingdom, have over 300 projects in development. They brought online 4.2 gigawatts of new regional capacity in 2023 and have raised an additional 30 billion euros of investment for eight additional wind farms.
The global race for investment and opportunity is well under way and Canada must not be left behind. Canada's east coast has some of the world's greatest wind resources, which is why companies around the world have expressed interest in developing clean energy in Atlantic Canada's offshore. It is why Nova Scotia and Newfoundland and Labrador's governments have been very clear that they wish to seize this opportunity. They have partnered with the federal government to do so.
Premier Furey stated, “Newfoundland and Labrador is perfectly positioned in the green energy transition.... We continue to support the Government of Canada on Bill C-49 and urge the other federal parties to do the same.”
Nova Scotia Premier Tim Houston stated, “Bill C-49 is a necessary first step in unlocking our energy potential. There will be many steps along the road but we are hopeful that Bill C-49 passes so we can get started.”
Our provincial partners understand the urgency of the matter and they know that the global offshore wind industry is a huge economic opportunity. It represents a generational economic opportunity to generate huge amounts of affordable clean power, while creating thousands of good, sustainable jobs in coastal communities across these provinces.
Governments have actively engaged with fishers on this legislation and associated regulations, and we are confident that the development of offshore renewables will create opportunity without compromising the economic prosperity of fishing communities.
The Public Policy Forum has said that just one area off Nova Scotia could power 6.5 million homes and create 30,000 construction jobs. To seize this opportunity, we simply must pass Bill C-49. In fact, in order to release their first call for bids in pursuit of their target of licensing five gigawatts of offshore wind by 2030, Nova Scotia needs the Parliament of Canada to pass this legislation swiftly.
Let me provide a brief overview of what the amendments under Bill C-49 would do.
They would principally expand the two boards' mandates to include the regulation of offshore renewable energy and modernize land tenure, including consultations with indigenous peoples and making accommodations that support treaty and indigenous rights.
They would also ensure that the offshore boards are able to proceed in alignment to keep Canada's international marine conservation and biodiversity commitments through modernized consultation and regulatory tools.
Finally, they would align the accord acts with Canada's Impact Assessment Act.
This is essential legislation that the Government of Canada has carefully developed with our provincial partners at every stage of the process.
The Conservative Party has a choice in front of it: drop opposition and help Canada create thousands of jobs and economic opportunities, or continue to delay, essentially saying you wish to leave this opportunity to Europe, China and others. Drop opposition and come into line with the governments of Newfoundland and Labrador and Nova Scotia, including Nova Scotia's Conservative premier. Stop the increasing drift of the Conservative Party into climate denialism. You should end the approach you have adopted towards climate change, which is simply to let the planet burn. It will leave Canada far behind in economic competitiveness and growth.
I look forward to discussing Bill C-49 further with you today.
