Mr. Speaker, I appreciate every opportunity I have to share with the House and with Canadians the incredible job this government is now doing on the environmental file, and I look forward to answering the member's question.
Tomorrow our government will release the details of our short term regulatory targets for greenhouse emissions and air pollutants. These targets will drive real action on climate change and air pollution. We will see emission reduction projects in Canada, including the deployment of innovative cutting edge Canadian environmental technologies. This will result in the emergence of a green economy in Canada and will allow us to export our experience and technology around the world.
We believe Canada needs to turn the corner on our greenhouse gas emissions. We need to do a U-turn because of 13 years of inaction and empty promises by the previous Liberal government. Canada has been going the wrong way on the environment.
In the October notice of intent the government indicated that we would explore emission trading systems as part of the regulatory framework for both air pollutants and greenhouse gases.
There is certainly much interest among the various exchanges across Canada in emissions trading, including Toronto, Montreal and Winnipeg. For the details of the plan, I encourage the hon. member for Don Valley East and all members of the House to wait for the announcement tomorrow to hear all the good news about our plan on the environment.
Our government has already taken many steps to combat climate change. We are providing financial and tax incentives to encourage Canadians to buy and drive eco-friendly vehicles. We are supporting the growth of renewable energy sources such as wind and tidal power. We are providing incentives to Canadians to improve the energy efficiency of their homes. Through budget 2007, we are investing $4.5 billion to clean Canada's air and water, to manage chemical substances, to protect our natural environment and to reduce Canada's emissions of greenhouse gases and pollutants. This investment, when combined with over $4.7 billion in the previous investments, adds up to over $9 billion that is being invested in the environment.
We are excited about our plan to turn the corner for real greenhouse gas reductions across Canada. Our government is already taking action. The Liberals failed, but we will get the job done.