Madam Speaker, our government is guided by one principle as we work towards meeting our Paris targets. We want to exceed our 2030 objective and achieve net-zero emissions by 2050. We recognize that this will take real, meaningful action.
That is why our government recently introduced the Canadian net-zero emissions accountability act in Parliament. This bill would establish a legally binding process for the government in order to achieve our net-zero objective based on the best science available.
More than 120 countries, 1,000 companies, 2,000 chambers of commerce, 452 cities and some of the biggest investors in the world have joined Canada in this commitment.
However, we also recognize that reaching success will require investment and innovation throughout Canada's energy sector. We must do this to ensure we continue to create jobs for Canadians while moving forward on the path to a low-carbon future. Our government's supports for projects like Keystone XL, TMX and LNG Canada are part of that recognition. Canadian oil and gas is some of the most responsibly and sustainably produced in the world. This sector is Canada's largest investor by far in the clean-tech innovations that we need to reach our goals. Our government will continue to diversify our future energy mix while also generating economic benefits on our path to net zero.
To that end, the Minister of Natural Resources will soon launch Canada's hydrogen strategy. The initiative, after broad consultations, will allow us to fully seize the opportunity hydrogen represents and build back better from the COVID-19 pandemic. Canada is already recognized as a global leader in the hydrogen fuel cell sector. We are also a hub for technical expertise and intellectual property. We produce leading products and services that are exported around the world. More than that, clean hydrogen has the potential to sharply reduce our greenhouse gas emissions. The strategy will strengthen our economic competitiveness through export potential, attract investment and create good sustainable jobs across the country. It could also drive down emissions in sectors like resource extraction and processing, freight transportation, power generation and manufacturing, as well as in the production of steel and cement where electrification may not be the best choice. It will take investment and support across the Canadian energy spectrum to meet our climate change commitments while also creating jobs and driving investment.
This is a critical moment. Tackling climate change is the challenge of our generation. To ensure a healthy future for the next generation we will need innovation, we will need collaboration, we will need all types of emerging technologies to get us to net zero by 2050. Our government remains committed to doing just that.