Mr. Speaker, it is a pleasure to speak to Bill C-57, the clean growth strategy that the government is bringing forward to the House. I am also pleased to join my colleagues on this side of the House to give support to the bill and I look forward to its passage, after second reading being 244 to zero and after the unanimous decision at committee level.
Our government is committed to protecting the environment, as well as building a clean growth strategy that benefits the middle class and every part of the Canadian economy. Canadians want an ambitious action plan on climate change, at the same time as economic growth and ensuring a good future for our children and our grandchildren. This is a huge opportunity, and we are extremely excited about this nation's future.
If we look at countries around the world, including Canada, we see that many have come to the same conclusions as we have here today. In China, it is estimated that by 2040, the cost of generating electricity from new solar cells will be lower than the projected operating costs of existing coal-fired power plants. In 2017, Germany generated 36% of its electricity with clean energy. Last year, our southern neighbours saw solar and wind industries create jobs 12 times faster than the rest of the economy. In fact, they have twice as many solar jobs as coal jobs. Finally, here in our great nation, wind energy in Prince Edward Island reduces its need for energy from outside the province. P.E.I. has no sources of oil, natural gas, or other fuels for traditional forms of electricity.
As the world's economies are shifting toward cleaner and more sustainable growth, it is essential that Canada remain competitive on the world stage.
Sustainable development includes supporting people and the nation toward a cleaner economy, which will help position Canada to take advantage of opportunities in the new global economy by diversifying our economy and opening up access to new marks while reducing emissions and generating good jobs for all Canadians.
Sustainable development includes clean technologies, which are a key component of our government's approach to promoting sustainable economic growth. I want to emphasize the word “sustainable”. It is not just about economic growth, but economic growth that is done right and sustainably.
Among many things, sustainable development means tackling climate change. Canada was one of almost 200 countries that committed to the Paris Agreement. We agreed to take steps to support the transition to a low-carbon economy and limit the global temperature increase to less than 2° Celsius.
Together with our provincial and territorial partners, we developed a pan-Canadian framework on clean growth and climate change, which includes our approach to pricing carbon pollution and measures to achieve reductions across all sectors of our economy. We see carbon pricing as a key driver for technological innovation and helping Canada to transition to a low-carbon economy, because a carbon price creates a continuous incentive to develop innovative and inexpensive ways to reduce greenhouse gas emissions.
A transition to a lower-carbon future will also require the involvement of the private sector to help increase the supply from alternative sources of energy, meet increasing demands while reducing greenhouse gas emissions, leverage investments in clean energy, improve energy interconnection, and ensure a smooth transition as Canada reduces its reliance on coal.
Our goal is to make Canada a world leader in green technology and clean innovation. That is where the future lies: the knowledge economy, where Canadians are applying their talents to solve collective challenges that face each and every one of us throughout this great nation.
Let me remind my hon. colleagues about some important steps this government has taken to encourage and support clean technology in Canada.
In 2016, more than $1 billion was announced for such things as support for research and development; the deployment of infrastructure for alternative transportation fuels, including charging infrastructure for electric vehicles and natural gas and hydrogen refuelling stations; tax incentives for the generation of clean energy; and, finally, new money for Canada research chairs at Canada's leading universities.
In 2016, environmental and clean technology activities accounted for 3.1% of Canada's gross domestic product, or $59.3 billion. In terms of employment, an estimated 274,000 jobs were attributed to environmental and clean technology activity in 2016 alone. These jobs represent 1.5% of jobs in the Canadian economy, which is 4.5% higher than in 2007.
The two largest components of the environmental and clean technology gross domestic product are clean electricity, at 43%, and waste management, at 12%. In 2017, we continued the support for clean technology by announcing almost $1.4 billion in new financing to be made available to help Canada's clean technology firms grow and expand. We also announced our plan to phase out inefficient fossil fuel subsidies, which are a barrier to investment in clean energy.
More recently, we announced historic investments, including the low-carbon economy fund and the investing in Canada plan, which support projects aimed at reducing greenhouse gas emissions and generating clean growth. Building on these commitments, budget 2018 focused on enhancing the role of federal science for the public good by proposing $2.8 billion to renew federal laboratories. These investments contribute, in part, to achieving Canada's pledge to double funding for clean energy deployment from $387 million in fiscal year 2014-15 to $775 million in 2020. In fiscal year 2015-16 alone, we increased clean energy research and development funding by 24% over the previous year.
I look forward to members of the House supporting this legislation. As I stated, 244 members of the House voted unanimously to move forward to third reading, and there was a unanimous decision to move forward to third reading from the committee. I am more than happy to take questions from the opposition, as well as from the third party.