Mr. Speaker, let us look at recent investments in Canada's LNG industry. LNG Canada is making the single largest private sector investment in Canadian history. That is a $40 billion investment in Canada's economy.
This project is expected to create up to 10,000 good, well-paying jobs at the height of its construction. That includes millions of dollars in construction contracts for indigenous business, all while building a new LNG facility with the lowest carbon intensity of its kind in the world.
What is more, once the project is up and running, Canadian LNG will replace the use of coal and power plants around the world, particularly in Asia, thereby reducing the global emissions that contribute to our warming planet.
The Impact Assessment Act is about ensuring good projects that will create jobs and grow our economy, moving forward in the right way.
Our government has a clear vision for clean growth in Canada, one that gets us to net-zero emissions by 2050, a vision that sees us meeting and exceeding our climate goals, that sees Canada using its natural advantage to drive economic growth, enhance environmental performance and advance indigenous partnerships.
That natural advantage is not just about the abundance of our resources, but the experience and expertise of Canadians to develop those resources competitively, sustainably and inclusively. The LNG Canada facility reflects all of this.
Unfortunately, the member's call for amendments to the Impact Assessment Act reminds us that there are still some in the House who do not think economic growth and environmental protection can go hand in hand, as equal components in a single engine to drive innovation and jobs from coast to coast to coast.
Having said all that, our government is open to suggestions for how we move forward with implementing the Impact Assessment Act. Having got the destination right, we welcome input and ideas on the best way to get there. After all, as the Minister of Natural Resources has said, the key to sustainable resource development is threefold: strong investments; regulatory stability; and meaningful relationships with our partners, including indigenous peoples.
That is how we ensure that Canada continues to be the best place to create jobs and to do business. LNG Canada's project tells us that we are on the right track.