Mr. Speaker, I want to acknowledge that we are gathered on the traditional, unceded territory of the Algonquin Anishinabe people. May we be guided by the wisdom of the indigenous peoples, especially their elders, who have cared for these lands for millennia.
Canada is at a critical moment that is marked by global uncertainty, economic transformation and an urgent need for climate action. The choices we make will have repercussions far beyond our borders and our lifetimes. They will determine whether we succeed in keeping up with the demands of a changing world or fall behind in a race that we cannot afford to lose.
Our energy sector has long been a pillar of Canadian prosperity. It fuels our homes, fuels our industries and supports hundreds of thousands of workers from coast to coast to coast. Today, the sector has to generate growth and confidence: the confidence of workers, investors and the entire world in Canada's ability to provide safe, reliable, affordable energy in a clean, responsible, resilient way.
A big part of that is clean technology. It enables us to strike a balance between economic ambition and environmental responsibility. That is how we are going to get to net zero by 2050 in a way that supports growth. It is also how we are building an energy future that is both sovereign and sustainable. Clean tech is already transforming the oil and gas sector across Canada. It allows producers to reduce their emissions while producing more competitive oil and gas. It makes operations more efficient, transparent and competitive in a world that is increasingly embracing low-carbon solutions.
In Alberta, Enhance Energy is developing the Origins carbon storage hub. Supported by $5 million in federal funding, this project will permanently store emissions from multiple industrial sources, including oil and gas activities, and could eventually store up to 20 million tonnes of CO2 per year. That is like taking 3.5 million cars off the road every year. This is not just a climate solution; it is a model for industrial-scale decarbonization.
Occam's Technologies, a start-up based in Nisku, is tackling one area of the sector that is the most difficult to decarbonize: diesel engines in oil operations. With $2 million in federal support, its Direct Oxyfire Carbon Capture system is designed to capture more than 90% of CO2 emissions from diesel engines. This is the kind of ingenuity that turns a challenge into a technological opportunity.
However, carbon capture is only part of the solution. Canada's clean tech ecosystem is vast and growing. Electrification is replacing diesel equipment with electric motors, reducing direct emissions and paving the way for the integration of renewable energy. Predictive analytics and artificial intelligence are being used to optimize drilling and refining, reduce energy waste and help companies achieve emissions reductions.
Methane detection and mitigation technologies, supported by the federally funded Methane Centre of Excellence, are helping producers find and eliminate fugitive emissions that are far more potent than CO2. These innovations are not theoretical. They are being implemented right now. They are reducing emissions right now. They are positioning Canada today as a global leader in responsible energy production.
These results did not happen by accident. They were the outcome of strategic and deliberate investments. Under the decarbonization incentive program, the federal government invested $150 million in 38 clean tech projects in Canadian industrial sectors. These projects include advanced carbon management systems, electric boilers and biomass deployment projects. All of them aim to cut emissions in sectors where reducing emissions is difficult, like the oil and gas sector.
This is not just climate policy; it is industrial policy. It is about building the infrastructure needed to create an economy that will excel in the future, an economy that is resilient to global shocks, responsive to market demands and rooted in Canadian innovation.
Canada's major energy producers are not just sitting back and waiting. The Pathways Alliance, a coalition of the six largest oil sands companies, is proposing a $16.5‑billion carbon capture and storage network in Alberta. This project would capture CO2 from more than 20 facilities and transport it 400 kilometres away to a storage facility in the Cold Lake area, allowing between 10 million and 12 million tonnes of emissions to be stored every year. It is considered one of the most ambitious decarbonization efforts in the world.
The world is hungry for clean energy, and Canada is uniquely positioned to supply it. Its LNG exports, including those from the LNG Canada project in Kitimat, are among the cleanest in the world, with emissions well below global averages. As phase two of LNG Canada moves forward with federal support, we are opening doors in Asia, Europe and beyond.
Clean tech is what makes all of this possible. It enables us to meet the demands of our global partners, uphold the new carbon standards and attract investments from markets concerned with environmental, social and governance criteria. In short, it transforms emissions reductions into economic opportunities. These opportunities are not limited to large producers. Across Canada, small and medium-sized businesses are developing clean tech solutions that are being exported around the world. From fuel and hydrogen systems in British Columbia to biofuel innovations in Saskatchewan, Canadian companies are proving that climate action and economic growth are not mutually exclusive, but mutually reinforcing.
We are talking about people. We are talking about workers in Fort McMurray, engineers in Calgary and indigenous communities that are shaping the energy future on their land. We are talking about young Canadians who want climate action to go hand in hand with economic opportunities. Clean tech enables us to balance these interests. That is how we are building one strong, sustainable and sovereign Canadian economy. Let us be clear about what is at stake. The world and the markets are changing, and if we are do not lead the way, then we will be left behind.
However, we are focusing on innovation, investing in clean tech and supporting industry leaders. Now is not the time to hesitate. Now is the time to act. Together, let us choose to lead by example, to invest and to build a cleaner, smarter and more competitive energy future. Let us move forward together.