Madam Speaker, the government very much agrees, and I personally agree, with the hon. member that this is an urgent and pressing issue that needs to be addressed in an all-encompassing way.
The Government of Canada has made taking action on climate change a very high priority. One of the first things the Minister of Environment and Climate Change did, once appointed, was to lead the Canadian delegation to the successful achievement of the Paris Agreement. Our government committed to an ambitious greenhouse gas emissions target. We then worked actively with our partners in the provinces, territories, and with indigenous leaders to develop the pan-Canadian framework on clean growth and climate change. This is a detailed plan that provides a well-defined path through which we will achieve the target.
The previous Harper government set greenhouse gas reduction targets, but never developed a plan nor did the work required to meet them. That hurt Canada's credibility at home and around the world and was unhelpful in the context of developing an international consensus. Step one for us is to show that when we set a target, we mean it. Two years after Paris, we have a lot to show for our efforts. We are introducing new legislation and regulations to ensure that a price on carbon pollution will apply across the country. The government is accelerating the phase-out of traditional coal-fired electricity units. We are establishing a clean fuel standard to reduce our emissions by incentivizing the use of lower carbon fuels, energy sources, and technologies. We are developing increasingly stringent model building codes so that all new homes will be built to a standard that will allow them to generate as much energy as they use.
We have made significant investments to support clean growth and innovation. In December, we invested more than $1 billion in the low-carbon economy fund, which will help the provinces in their fight against climate change.
We are also investing over $2.3 billion to support clean technology and innovation and to support the creation of good jobs in growing sectors of our economy. We are 100% committed to achieving our target and to working collaboratively with the international community. On December 9, 2017, we released the first annual progress report on the implementation of the pan-Canadian framework. This report highlights the strong progress that federal, provincial, and territorial governments have made in putting the pan-Canadian framework into action. We have made very significant progress, but we know we need to do more. That is part of the Paris Agreement. All countries will need to increase their level of ambition over time.
The pan-Canadian framework establishes a concrete plan to meet or even surpass our commitments under the Paris agreement. The measures we are taking today will have a real and lasting impact on the well-being and resilience of our communities and the environment.
This government will continue to work every day to turn Canada's clean growth and climate action into new laws, regulations, actions, investments, jobs, and economic opportunities for Canadians.