Madam Speaker, I thank my colleague for his question.
We recognize that methane is a potent greenhouse gas. We also know that taking action on methane emissions is one of the lowest-cost actions to reduce greenhouse gases. With this in mind, and the understanding that regulation of shale gas production is mainly a provincial and territorial responsibility, we have worked together with provinces and industry to finalize national methane regulations. These regulations came into force on January 1, 2020, and require resource developers to eliminate temporary venting during well completions after hydraulic fracturing operations.
On Canada's emissions, we are making important progress. In December, the Government of Canada announced a commitment to exceed Canada's 2030 emissions reduction targets and chart the path toward achieving net-zero emissions by 2050. Canada's most recent national report on climate change progress to the United Nations Framework Convention on Climate Change, the fourth biennial report, demonstrates that the government has made excellent progress in implementing Canada's national climate plan, the pan-Canadian framework.
For example, this report predicts that in 2030 Canada's GHG emissions will be 227 million tonnes below what was projected in 2015. This is a historic level of emissions reductions, and our energy sector is a significant contributor to our national economy. In light of this and the challenging economic circumstances facing the sector and the regional economies dependent on it, the Government of Canada is providing funding to sustain workers in the energy sector, while cleaning up the environment. This includes up to $1 billion to the Government of Alberta to support the province's work to clean up inactive oil and gas wells across the province, up to $400 million to the Government of Saskatchewan to support work to clean up orphan and inactive wells across the province, up to $120 million to the Government of British Columbia to support work to clean up orphan and inactive oil and gas wells across the province, and $200 million to Alberta to ensure that the Orphan Wells Association is well-funded to support its work to clean up orphan oil and gas sites across Alberta. The OWA will fully repay this amount.
Fighting climate change does not mean that we need to immediately shut down Canada's energy sectors. Rather, it means that we need to develop Canada's natural resources in a sustainable and responsible way and protect workers with key green investments.