Mr. Speaker, I will be splitting my time with the member for Edmonton Mill Woods.
I am very pleased to stand in the House today to discuss the motion of my colleague, the hon. member for Rosemont—La Petite-Patrie.
I appreciate the call for Canada to be a global climate change leader. I agree, and Canada is. However, this motion fails in a number of areas, including its failure to recognize the actions the government has taken in ensuring that the environment and the economy go together as we build a clean energy economy. Our government has been steadfast in its belief that a strong economy and a clean environment go hand in hand. The NDP motion completely ignores the historic investments that the government has made through successive federal budgets that specifically address Canada's environment, coastlines, waterways, and wildlife, as well as the introduction of government legislation such as Bill C-69, Bill C-68, Bill C-57, and Bill C-74, which would further strengthen our ability to protect the environment and grow the economy in sustainable ways.
Today, I will highlight the global market for clean technologies and the enormous opportunity Canadians are already taking advantage of that is estimated to be in the trillions of dollars, with demand only increasing, and at an incredibly rapid pace.
This is an area I personally know very well, having spent the past almost 20 years as a chief executive officer and senior executive in the clean technology and renewable sector. The clean technology industry presents significant opportunities for Canadian businesses from all sectors of the economy. That is why investing in clean technology is a key component of our government's approach to promoting sustainable growth and to addressing key environmental challenges.
Our government also recognizes that clean technology is a source of good, well-paying jobs for Canadians. Therefore, when it comes to clean technology, Canada has the opportunity to be a true global leader, creating good, well-paying jobs for Canadians, while helping to meet our climate change and other important environmental goals.
Clean technologies are central to Canada’s low-carbon, globally competitive economy that provides high-quality jobs and opportunities for our middle class and those working hard to join it.
Clean technologies are by definition innovative technologies. Our government understands that innovation is a key driver of economic success. That is why we developed an innovation skills plan that will assist in making Canada a world-leading centre for innovation.
Today, clean technology already employs over 170,000 Canadians, and we sell about $26 billion annually in goods and services. Of that $26 billion, about $8 billion is exported.
Clearly, there is a strong appetite for Canadian innovation, but we have only just scratched the surface and there is so much more room to grow. That is why our government set aside more than $2.3 billion for clean technology in budget 2017. For the record, that is Canada's largest-ever public investment in this field. Prior to making this historic investment, we worked closely with industry to develop a comprehensive strategy that will successfully accelerate the development of the sector.
This $2.3 billion will support clean technology research, development, demonstration, and adoption and the scaling up of our businesses.
We know that access to financing fuels the growth of companies and provides the capital needed to hire new staff, develop products, and support sales at home and abroad, which is why we have set aside $1.4 billion in new financing for clean-tech providers. This is in addition to the $21.9 billion investment in green infrastructure, which will create jobs and position Canada for the low-carbon economy of the future.
We have also allocated $400 million to recapitalize Sustainable Development Technology Canada. This fund is helping our Canadian businesses develop world-class expertise in clean technology engineering, design, marketing, and management. To date, the fund has invested $989 million in 381 Canadian companies, supporting projects across the entire country. The funding has helped these companies develop and demonstrate new clean technologies that promote sustainable development, including those that address environmental issues, such as climate change, air quality, clean water, and clean soil.
There is also the Business Development Bank of Canada with its $700 million commitment to help clean technology producers scale up and expand globally. Since mid-January, I am pleased to say that four investments worth $40 million have been made. Through our participation in mission innovation, the Government of Canada will work with the international community to double federal investment in clean energy research and development over five years.
These are very significant and substantive investments, and we will drive for strong results. The government will carefully monitor the results of its investments both in terms of economic growth and jobs, as well as the environment.
Through a new clean-tech growth hub within Innovation Canada, the government will streamline client services, improve federal program coordination, enable tracking and reporting of clean technology results across government, and connect stakeholders to international markets. The clean growth hub is the government's focal point for all federal government supporting clean technology. Since launching in mid-January, the hub has served over 450 companies. This one-stop shop is a major innovative win for government that industry is already recognizing as a key step forward.
The 2017 Global Cleantech Innovation Index, which investigates where entrepreneurial companies are most likely to emerge over the next 10 years, ranked Canada fourth, up from seventh in 2014. Further, in January of this year, the Cleantech Group released a Global Cleantech 100 list. The list recognizes the clean-tech companies that are most likely to have significant market impact over the next five to 10 years.
Under the Harper government, Canada's share of the global clean-tech market shrunk by half. In partnership with the clean-tech industry, we have successfully turned this around. This year, a record 13 Canadian clean technology firms comprised the top 100. All the winning companies are clients of the Canadian trade commissioner service, and seven of the 13 companies are Export Development Canada customers.
We know that is only a small sampling of the innovative clean technology companies that are doing amazing work every day across the country to create economic growth, and solve our most pressing environmental challenges.
For example, in Montreal, GHGSat has developed the technology to monitor industrial greenhouse gas emissions using satellite technology. They launched their first satellite in 2016. In my own province of British Columbia, Carbon Engineering is developing a process to turn carbon dioxide in the air into a clean fuel. I could go on and on, speaking about all of the fantastic and innovative clean technology companies working across the country in so many industries and sectors of the Canadian economy.
In order to ensure their continued success, we will continue to collaborate with all stakeholders and jurisdictions across Canada to meet our climate change commitments and bring innovative and competitive clean technologies to market.
We have developed strong international linkages that promote Canadian technology as solutions to global challenges and attract private sector investment. This government is focused on scaling our great Canadian clean technology success stories, and in the process, helping to solve the world's most pressing environmental challenges.
As we move forward, the Government of Canada will continue to be a strong partner for clean technology producers. Our government is incredibly proud and impressed by the innovative work being done by the entrepreneurial women and men working in this sphere and we will continue to support them and their work, and with their success, generate future wealth for Canadians, while safeguarding the environment for future generations.