Madam Speaker, I know my colleague knows that I will not be able to answer his question.
The costs of climate change are clear. Canadians want to be part of the solution. Businesses are also rising to the occasion. Innovative businesses of all sizes are meeting consumer demand for low-carbon products and investing heavily to adapt their production practices accordingly.
The member opposite should know that Canada's steel producers are leading the way. For example, just this year, ArcelorMittal Dofasco earned ResponsibleSteel certification, recognizing the company's leadership in reducing greenhouse gas emissions, noise, emissions effluents, as well as waste and water stewardship and biodiversity.
In Canada, we use carbon pricing because it works. It creates powerful financial incentives for industries and individuals to take concrete steps to reduce their emissions. In fact, in the member opposite's riding of Dufferin—Caledon, over 80,000 people received the Canada carbon rebate.
Canada has put a price on carbon pollution but is taking a flexible approach. Industries across all sectors have said that they support pricing because of this flexibility. They have said that pollution pricing allows them to invest in cleaner processes without the government telling them how to do it.
Carbon pricing is an economic policy that works by ensuring that our industries remain competitive in a decarbonized world. The federal system allows provinces and territories to maintain their own systems if they meet minimum national standards.
Carbon pricing has been in place across Canada since 2019. Many provinces, such as Alberta, British Columbia and Quebec, have had carbon pricing for even longer.
All the money paid by industries gets given right back to the province it comes from to invest in clean-energy projects for industry. For every dollar that has been invested in industry through these pricing proceeds, three dollars have been mobilized, essentially tripling investment in clean industrial projects. By putting a price on pollution, we send a signal across the economy to encourage households and businesses to change their behaviour and find new and innovative ways to use less-polluting energy products and services.
The industry remains competitive, both through the incentives provided by carbon pricing to develop new technologies and through smart pricing design for heavy industry across Canada. Our approach keeps overall costs low while continuing to drive emissions reductions and keep Canada competitive internationally. That is why economist after economist supports carbon pricing as the cheapest and most efficient tool we have to fight climate change.
Carbon pricing is a central pillar of Canada's climate plan, because it reduces emissions, accelerates the use of clean technologies and fuels, and supports good jobs in a diversified economy, but also because it complements and amplifies the impact of other aspects of our climate plan. Carbon pricing lays the foundation for over 140 measures in Canada's emissions reduction plan, including the clean fuel regulations, which reduce the carbon intensity of diesel and gasoline, and the proposed clean electricity regulations, which will help deliver a net-zero grid.