Thank you very much, Mr. Chair.
I am very pleased to be here with the members of the committee today to discuss Bill C-49.
Since you have already named everyone who is here with me, Mr. Chair, I won't repeat that information.
Before I begin, I would like to note that we are gathered here on the traditional lands of the Anishinabe Algonquin nation, which has long been the guardian of the environment that we share today.
The accord acts have enshrined decades of close collaboration between the federal government and the provincial governments of Nova Scotia and Newfoundland and Labrador, and benefit communities in both provinces and Canada's national interest.
The amendments now before the committee will secure many lasting benefits for generations to come.
According to the International Energy Agency, investment in clean energy has risen by 40% since 2020. More than 500 gigawatts of renewable generation capacity are set to be added globally in 2023, which is a new record. Renewables are set to contribute 80% of new power capacity by 2030.
Tripling renewable energy capacity, doubling the pace of energy efficiency improvements, ramping up electrification and slashing methane emissions from the fossil fuel operations together will provide more than 80% of the emissions reductions needed by 2030 to put the energy sector on a pathway to limit warming to 1.5 degrees Celsius, which is one of the goals of the Paris Agreement.
Offshore wind alone will be a $1-trillion industry by 2040. Effectively managing offshore petroleum activities has been key to protecting the environment while also capitalizing on an important resource. The Canada Energy Regulator estimates that wind power has the potential to provide about 30% of total electricity supply in 2050, compared to less than 6% in 2021. According to a recent study by the Public Policy Forum, offshore wind could be for Atlantic Canada what oil was to Texas or hydro power to Quebec. It could supply the region—6.5 million average homes—with almost twice the electricity currently consumed in Atlantic Canada annually.
Bill C‑49 represents an important shift towards accomplishing net-zero goals by unlocking our full power potential and building renewable energy projects in Canada's offshore.
My experience at COP28 this past fall made me realize that it is even more important to co-operate in achieving climate objectives. That is particularly important in Canada since the environment is a jurisdiction that the federal government shares with the provinces.
Bill C-49 is built on a spirit of co-operation with the governments of Nova Scotia and Newfoundland and Labrador, aligning jurisdictional processes, leveraging their decades of experience in petroleum management and strengthening our long-standing commitment to the joint management of the offshore, which includes a balance between ocean activities like energy production and the protection of our ocean's environment.
Bill C-49 will be important in clarifying the joint roles of the federal and provincial regulatory bodies in the impact assessment process, by clarifying opportunities for consultation between federal and provincial departments and agencies during key phases in the process. It will also help ensure that the positions of both management partners are reflected in the process, which will maximize co-operation.
Recently, the Supreme Court came out with an opinion on the Impact Assessment Act. It is important to recognize that the Supreme Court explicitly upheld the right of the Government of Canada to implement impact assessment legislation and collaborate with provinces and territories on environmental protection. Respecting these roles in partnership with provincial governments is a priority for the Government of Canada. These amendments to the accord acts represent a necessary and ambitious advancement of the principle of joint management in service to our shared economic and environmental goals.
This bill will also support the commitment that Canada made in the 2022 Kunming-Montreal Global Biodiversity Framework to protect at least 30% of our oceans by 2030.
In conclusion, the amendments to accord implementation acts will strengthen the principles for the joint management of Atlantic offshore resources and provide a regulatory pathway to harmonizing the many uses of our oceans.
Thank you very much.