Mr. Speaker, I am thankful for the opportunity to speak in support of our government's proposed new legislation to increase accountability in Canada's nuclear and offshore industries.
Before I continue, I would like to announce to all present that I will be splitting my time with the valued and intellectual member for Yukon, who sits with me on the natural resources committee and does an absolutely amazing job standing up for Yukoners and their natural resource sector and does a much better job than the previous member of Parliament for that region certainly did.
As the Minister of Foreign Affairs has responsibility for Canada's international treaties as well as nuclear non-proliferation policy, he has stressed the importance of bringing Canada into an international nuclear liability convention. This convention would facilitate trade among nuclear power manufacturers while providing for streamlined compensation in the event of a nuclear accident in a country that is a party to the treaty. This is important to Canada, where 15% of electricity is generated by nuclear power. The mix of nuclear, hydro, wind, and solar-powered generation means that 77% of the electricity produced in Canada emits no greenhouse gases. We are number one in the G7 in this regard.
To advance Canada's intention to join an international nuclear liability and compensation regime, the Minister of State for Foreign Affairs and Consular, the hon. member for Blackstrap, signed the convention on supplementary compensation for nuclear damage, or the CSC, in Vienna, in December 2013. I would like to talk about some of those benefits.
With Canada's having achieved that important milestone, let me emphasize that the passage of Bill C-22, the energy safety and security act, would allow Canada to ratify and fully join the convention on supplementary compensation for nuclear damage. I should note that Canada's signature on the treaty has encouraged Japan and South Korea to accelerate their approval processes for joining.
Once one of those countries joins the convention, the combined nuclear power capacity of treaty members will, according to the requirements set by the convention's drafters, be sufficient for the treaty to enter or come into force. This would allow Canada's nuclear trade with the U.S.A. and other treaty member states to flourish. It would establish absolute certainty that liability lies with the operator in the event of a nuclear incident. This clarity would allow manufacturers of nuclear power components and systems in member states to export without the worry of liability that may otherwise impede trade.
Ratification of the convention on supplementary compensation for nuclear damage would offer Canadians two additional pools of international funds for compensation up to $1.45 billion in the event of a nuclear incident. Ratification would also provide exclusive jurisdiction of the Canadian court in the case of a nuclear accident in Canada causing damage internationally. As noted, the convention on supplementary compensation would also channel liability exclusively to the nuclear operator of the site where a nuclear accident occurs, thereby providing business certainty to the many nuclear supply chain companies that add value to the Canadian economy domestically and abroad.
As a treaty member, in the event of a nuclear accident outside Canada, Canada would have its liability limited to $23 million per event, and it would be recovered from nuclear operators in Canada. Taxpayers would be fully protected from any expense. The method of reimbursement to the federal government by the nuclear industry for any amount paid out would be established by regulation prior to Canadian ratification of the convention. This has international importance and consequence.
The convention is aimed at a worldwide liability regime in which all states may participate, regardless of whether they are members of any existing civil nuclear liability conventions or have nuclear installations in their territories.
While the convention is open to all states, those with nuclear installations must also be party to the International Atomic Energy Agency's nuclear safety convention. Canada ratified that convention in 1995 and since then has been a leader in nuclear safety, transparency, accountability, and best practices at the triennial review meetings.
Canada's ratification of the convention on supplementary compensation for nuclear damage would be a favourable response to international calls, led by the U.S. government and the IAEA, for countries to establish a global liability regime. As the world continues to recognize the clean energy advantages of nuclear power, the importance of such an instrument as this only increases, and of course, there are domestic benefits as well.
The convention would also facilitate nuclear development for Canadian provinces, especially Ontario and New Brunswick, which have nuclear power generating programs already.
Within the G7, Canada and Japan are the only members that do not belong to a major international civil nuclear liability regime. This would also be addressed through Bill C-22, and we are confident that Canada's example will help move other countries in the same direction.
This legislation brings Canada up to date with international standards and best practices in the nuclear sector. Our government has made a number of attempts to modernize our nuclear safety system. This is my third Parliament, and I remember the previous iterations of this legislation, and every time, only the NDP opposed improved safety measures.
We on this side of the House support a strong and safe nuclear industry that generates non-emitting electricity. Allow me to quote the Leader of the Opposition. These are the words of the NDP. They are not mine. He stated:
I want to be very clear. The NDP is opposed to any new nuclear infrastructure in Canada.
Canadians know that nuclear energy can be generated safely while supporting jobs for thousands of Canadians. While the NDP will continue to oppose our efforts to improve the safety of this important industry, we will focus on the safety of Canadians and a safe environment. It is time to move this very important initiative to its conclusion.