Madam Speaker, I am pleased to have the opportunity to speak on this very important issue.
I first have to, unfortunately, correct the record on a couple of things. Back in 2015, Canada was trending to exceed 2005 emission levels by 10%, but by 2030, we will have effectively bent the emissions curve. We had a lot of work to do, since the previous Conservative government under Stephen Harper completely ignored climate change and denied that the existential threat of climate change even existed.
I again have to correct the record. Our plan is working, and experts have indicated that up to one-third of current reductions are a result of carbon pricing. I would remind the member that, in the last election, in 2021, when the Conservative leader was Erin O'Toole, all Conservatives ran on a plan to price carbon. It was this sort of Zellers green catalogue where one could choose some green products, perhaps. It was also affectionately titled “The more you burn, the more you earn” by experts. It was not likely to achieve very good results, but our plan has achieved results. We have an 8% or 9% reduction already since 2005. That curve has required some time and effort to bend since 2015, but we are on track to reduce our emissions by 34% by 2035.
I agree that we need to do more to reach Canada's ambitious 40% reduction target, but not by just repeating slogans in the House of Commons. It might be fun to say “axe the tax”, because it rhymes and fits well on a T-shirt or a bumper sticker, but it is not an environmental plan. It will not do anything to reduce emissions in this country. I would urge the member and all Conservatives, if they have really good ideas for how to fight climate change and lower emissions, to bring them to the House, because that is what these longer debates are all about. Unfortunately, we are still debating whether we should fight climate change rather than how to fight it.
As I said, we have more work to do. We have to be more ambitious. The environment commissioner said that we are moving in the right direction, perhaps just not fast enough. A 34% reduction by 2035 is not enough. We need to reduce our emissions by 40%, and our reduction target is still in sight. A price on carbon pollution is an integral part of that plan. As has been said over and over again, up to a third of our carbon pricing to date is responsible for our reductions. Let us also not forget that our plan, unlike the Conservatives' Zellers green catalogue, sends more money back to 80% of households that are under the backstop program with the federal government.
It is also always worth noting that provinces and territories under the federal backstop plan do not have a plan to fight climate change and lower emissions. British Columbia, Quebec and others have their own plans, which work well too. However, it is incumbent upon all provincial premiers to have a plan to fight climate change and reduce our emissions. Canadians in northern Ontario and across Canada understand the cost of inaction. It is extremely stark. If we ignore climate change entirely, by 2025, we could see a $25-billion annual slowdown in our economic growth. That is why our climate plan is not just a plan for the environment but also a plan for the economic stability of Canada's future.
A climate plan today is one of the many ways to make life more affordable for Canadians. I would again encourage my Conservative colleagues to come up with some good ideas. Canadians used to look to members such as the member of Parliament for Wellington—Halton Hills for a little climate leadership; unfortunately, it seems all that climate leadership and ambition has dried up with the Conservatives.