Mr. Speaker, as always it is a pleasure to engage in a thoughtful debate with my colleague from Saanich—Gulf Islands. I will take this opportunity to congratulate her, on the record, on her upcoming nuptials.
Canadians know that the impacts of climate change are very real. We see them in our communities every day, and we need to take them very seriously.
We understand the importance of limiting the temperature increase to 1.5°C, as examined in the IPCC report that the hon. member has referred to. That is why we supported the goal of 1.5°C in the Paris Agreement, with significant discussion around targets. The real target that I am most concerned with is 1.5°C. It is going to prevent a catastrophe that could potentially render our planet uninhabitable for future generations.
The Government of Canada knows that growing the economy can be done while we protect the environment. I had the opportunity to take part in a panel with the hon. member this morning, during which we discussed, in fact, the notion that protecting the environment can lead to economic growth.
We have made significant progress in implementing our pan-Canadian framework on climate change. In December of this year, we published our second annual progress report, which details some of the work that has been done so far.
The focus in the short term is on doing the things that will have the maximum impact. I note in particular that we have implemented new regulations to help significantly reduce methane emissions from heavy-duty vehicles, and importantly, we have accelerated the phase-out of coal-fired electricity. I anticipate that by 2030, 90% of our electricity will be generated by renewable resources.
We released a clean fuel standard regulatory design paper for consultation. We made significant investments in clean technology, innovation and green infrastructure, which is going to drive growth while we reduce pollution.
I do not want to just rhyme off a list of accomplishments, but suffice it to say, we are focusing on the things that are going to make the biggest difference.
Of course, the price on pollution that we are introducing is a marquee policy of the government that is going to be the most effective tool we have in the tool kit. Members do not have to take my word for it. They can look at the many endorsements of this approach from groups like the Canadian Chamber of Commerce and from a number of economists in the United States and Nobel Prize winners, to name a few. Our analysis found that pollution pricing alone in Canada is going to reduce pollution by 50 and 60 megatonnes. This is a policy that will have a significant impact.
We are always going to be looking to see what other policies we can be adopting to go further and to do more to achieve the decarbonization we need to ensure that we do not put our planet's health in the way of irreparable harm.
In certain provinces, of course, there is push-back against the policy that we are trying to implement. However, we will not be stopped just because there is a lack of political will to implement what we know is the most effective policy for reducing our emissions.
We remain committed to meeting our target of 2030. We want to achieve that 1.5°C maximum that we discussed in the Paris Agreement. We are going to work with our partners both across Canada and in the international community to try to get more people and countries on board to ensure that emissions come down so that we all have a safe planet to inhabit not just in this generation but, going forward, for our kids and grandkids as well.