Madam Speaker, I thank my colleague for his question.
Not surprisingly, I will reiterate that the first thing we should do is stop encouraging the oil and gas industry, which is largely responsible for our greenhouse gas emissions. Canadian taxpayers are paying as much as $1.6 billion a year to big oil and gas companies, which pollute and are going in exactly the opposite direction of where we should be headed.
Speaking of that direction, we need to do more, particularly when it comes to carbon pricing, but also with regard to federal government initiatives to encourage companies that invest in renewable energy. We need to be doing more with solar, wind, and geothermal energy, and it will be hugely profitable to do so.
In 2014, the World Bank calculated the economic impact of low-carbon economy policies and found that they could be worth between $1.8 trillion and $2.6 trillion per year by 2030. I realize these are astronomical numbers that are hard for us as citizens to even grasp, but all that to say, even the World Bank is telling us that it pays off and that is what we need to be doing. It is the way of the future. It will stimulate the economy and create good jobs.