Madam Speaker, the government's many concerns about the economic implications and potential unconstitutionality of Bill C-311 have already been brought to the attention of the House.
I would now like to comment on the action that the government is taking to reduce the country's greenhouse gas emissions, including working with the United States on a clean energy dialogue. Canada is also committed to working within the United Nations Framework Convention on Climate Change towards a post-2012 implementation on global emission reductions, but it is Canada's domestic and continental efforts on which I will focus my comments.
Unlike the Liberals, who had 13 or so years to work on this issue and did virtually nothing, our government is committed to stopping the increase in Canada's greenhouse gas emissions and then dramatically reducing them. We have established a national target of an absolute reduction of 20% in greenhouse gases, relative to 2006 levels, by the year 2020. By 2050, Canada's emissions will be 60% to 70% below 2006 levels. This government has also established a target that, by 2020, 90% of our electricity will come from non-emitting sources.
While Bill C-311 would impose a long-term emissions reduction target that goes far deeper than anything proposed by the global community, our target would bring Canada in line with the accepted requirement to reduce greenhouse gas emissions while striking the necessary balance between environmental and economic progress, as opposed to the economic evisceration of the Canadian economy, which is what the NDP is proposing to do through this bill.
Our government is committed to reducing greenhouse gas emissions in the industrial sector through regulations and is continuing to develop the regulatory regime. It will be the product of significant consultation, including the provinces, territories, industry stakeholders, and environmental non-governmental organizations. These industrial regulations will require mandatory reductions in greenhouse gas emissions and will also create the incentives for development and deployment of new technologies such as carbon capture and storage, which will result in significant emissions reductions over time.
In addition, this government is using its regulatory authorities to increase renewable fuel content in gasoline and to strengthen the energy efficiency of a wide variety of products.
Through this government's suite of eco-action programs, we will drive emissions reductions beyond the industrial sectors of our economy. Eco-action investments cover a range of sectors and activities, including renewable power, home retrofitting, and commercial transportation.
For example, through the eco-energy for renewable power program, the government is investing $1.5 billion to provide incentives to increase Canada's supply of clean electricity from renewable sources such as wind, biomass, low-impact hydro, geothermal, solar—