Thank you, Mr. Chair.
I would like to acknowledge that we gather on the traditional unceded territory of the Algonquin Anishinabe people.
Honourable colleagues, I am pleased to be here today to discuss the main estimates.
We talk a lot about climate change these days—for obvious reasons. Climate change is altering our world’s natural environment in a myriad of harmful ways. We saw this across Canada this year after the worst wildfire season in our history.
Beyond its increasingly severe impact on our economy and our environment, climate change is also rapidly transforming the global economy and global finance in ways that are creating enormous economic opportunity for those who approach the transition to a low-carbon future in a thoughtful, determined and focused manner.
In order to seize the extraordinary opportunities created by the shift to a net-zero economy, we must, however, accept the scientific reality of climate change and ensure that this informs and shapes Canada's economic strategy.
The strategy this government has developed includes seizing key economic opportunity in accelerating sectors, including critical minerals in the EV supply chain, hydrogen, biofuels, nuclear technology and carbon management. It includes having a thoughtful approach to ensuring the competitiveness of Canada's oil and gas sector in what will eventually be a declining global market for these products. It includes building affordable, reliable and clean electricity networks that will give Canada a major competitive advantage. It involves furthering economic reconciliation with indigenous peoples.
This plan is well under way. In just the last three years, more than $50 billion has been announced in almost 100 clean growth projects across this country. Such projects include Honda's $15-billion investment in Ontario; Dow's approximately $10-billion net-zero petrochemical facility in Alberta; Everwind's and World Energy's planned hydrogen facilities in Atlantic Canada; Rio Tinto's critical mineral production facility in Sorel-Tracy, Quebec; and E-One Moli's $1-billion battery facility in Maple Ridge, British Columbia.
This focus on building a clean economy for the future was reflected in the recent budget. Budget 2024 delivered significant clean economy investments, including the EV supply chain tax credit, new measures for biofuels to the biofuel sector and $800 million to stand up the Canada greener homes affordability program.
Budget 2024 also delivered a $5-billion indigenous loan guarantee program, which will ensure that indigenous communities will derive long-term benefits from key energy and resource projects.
The main estimates also reflect a focus on creating jobs and economic opportunity in every province and territory in Canada.
In the estimates, my department is seeking an increase in authorities from nearly $5.1 billion to approximately $5.55 billion.
Key increases from last year's main estimates include the oil-to-heat pump affordability program, the deep retrofit accelerator, critical minerals development and the implementation of Canada's national adaptation strategy, including wildfire resiliency.
The estimates include investments that are part of the government’s plan to create sustainable jobs for Canadians.
Having a comprehensive plan to address climate change and to seize the economic opportunities that will be enabled through the energy transition is critically important environmentally and economically, but I would say that a recognition of the importance of such a plan is not shared by all leaders at the federal level.
Mr. Poilievre in particular is fond of using the slogan “technology, not taxes” as a description of a plan, but this is just a tag line. It is not a strategy. It is not a plan.
He opposes investment tax credits, including for hydrogen, electricity, carbon management and manufacturing. He opposes the strategic innovation fund. He opposes the Canada Infrastructure Bank. He opposes the Canada growth fund. He opposes the clean fuels regulations and he opposes carbon pricing.
As a former clean tech CEO, I can say very confidently that while technology is clearly important, technology on its own will not drive billions of dollars in new investments, nor will it bring new opportunities to countless communities. Technologies on their own will not allow us to successfully address the challenge of climate change. To do this, we must put into place the conditions that will enable technology development, enable demonstration and ultimately enable commercial deployment. Unfortunately, Mr. Poilievre's plan is to simply let the planet burn, to eliminate jobs and to impair Canadian competitiveness as the rest of the world moves to a low-carbon future. That, ladies and gentlemen, is not responsible leadership.
With that, I look forward to hearing your questions.