Mr. Speaker, of course, we are going to see the issue differently. Our government has said since day one that economic growth and environmental stewardship can and must go hand in hand. They are not competing interests. They are not opposing goals. Canadians have made that clear.
With help from indigenous peoples, representatives from our natural resource sectors, environmental groups and Canadians from coast to coast to coast, Bill C-69 proposes a number of key improvements over the current system.
These changes would ensure that decisions are transparent and guided by robust science and indigenous knowledge. They would ensure that project reviews consider a wider range of impacts, including those on the economy, the environment, our health, indigenous rights and local communities. They would also support more timely and predictable reviews, advance reconciliation and partnership with indigenous peoples, and reduce duplication and red tape through a one project, one review approach.
Canada has a new wave of projects on the way which makes this legislation not only important to address existing concerns, but necessary for us to take full advantage of future potential.
Our latest inventory indicates there are more than 400 resource projects either already started or planned over the next decade worth a combined value approaching $585 billion.
The time is now. If we want to keep seizing all of these opportunities and build a Canada that works for everyone, we must develop our resources the right way. That is the purpose of Bill C-69 and the reason for creating a new Canadian energy regulator to replace the National Energy Board. Canadians deserve a federal regulator that reflects Canada's and the world's changing energy needs. lt does so in five key ways.
First, it proposes a modern governance and management model. Second, it would enhance investor certainty by reducing red tape, duplication and unnecessary delays in the decision-making process. Third, the new Canadian energy regulator would renew public trust in the review process by making it more inclusive, transparent and meaningful. Fourth, the new Canadian energy regulator would support indigenous participation and ensure meaningful engagement throughout the review process. Fifth and finally, the new federal energy regulator would have the tools it needs to safeguard the public and protect the environment.
Through all of these measures we can reap the benefit of the tremendous future in front of us, ensure Canada is competitive and our future is bright for our kids, grandkids and future generations.