Mr. Speaker, I am taking this opportunity to take part in the debate on the motion presented by the hon. member for Rosemont—La Petite-Patrie, asking the government to set absolute greenhouse gas reduction targets, so as to meet the objectives of the Kyoto protocol and, ultimately, to establish a carbon exchange in Montreal.
Greenhouse gas emissions in Canada have constantly been increasing over the past 10 years and now exceed by 35% the targets set under the Kyoto protocol. This is a direct result of the inaction of the previous Liberal government, which claims to be the great protector of the environment.
More than 13 years ago, when it had the opportunity to produce results, it missed the target. In order to reach the targets set by the previous government in the Kyoto protocol, Canada would have to reduce its greenhouse gas emissions by an average of 33% for each of the years covered by the commitment made under the Kyoto protocol.
As the Minister of the Environment said last week, before the Senate committee, achieving such drastic reductions over such a short period of time would require very compelling measures that would have a significant impact on the Canadian economy. We are talking about increased production costs for businesses and the possible loss of 275,000 jobs, not to mention higher energy costs, including natural gas, electricity and gasoline.
We know the Liberals have tried to scare Canadians by misrepresenting the report but the facts are clear and have been independently validated by some leading Canadian economists and experts.
Some members of the opposition have also tried to mislead Canadians. For example, they have said that the report issued by U.K. economist, Sir Nicholas Stern, debunks the report on Bill C-288. Sadly, they are wrong.
While the Stern review is an important study that we should all read, it focused on the cost of global climate change action over the next 30 to 50 years. It has almost nothing to do with the cost Canada would face to implement Kyoto over the next five years, which Bill C-288 would require by law.
Our report on Bill C-288 takes into consideration Canada's unique circumstance. It is the only up to date report in existence that reflects the reality of our geography, demographics and economy.
Some opposition members would want us to ignore the socio-economic effects of attempts to reach the targets of the Kyoto protocol. However, as a government, we must act responsibly and adopt measures that are based on a balanced commitment between protecting the environment and managing the economy.
We recognize that the environment is the number one concern for Canadians. We share that concern and this is why, as soon as the new Government of Canada took office, we immediately introduced a number of initiatives that will not only clean up our environment, but will also protect the health of Canadians.
In October, we stated our intention to develop and implement regulations and other measures to reduce air pollution and tackle the issue of climate change.
The government is working to set targets for industrial greenhouse gas emission reductions that will be more aggressive than those proposed by previous governments. We are working on setting short term targets for industrial air pollutants, reductions that are among the most aggressive in the world.
Rather than do as the previous Liberal government did and announce unrealistic and unreachable targets, our government is focusing on setting targets that will strengthen Canada's long-term competitiveness. These targets are a major positive step forward in the fight to reduce dangerous emissions, air pollutants and greenhouse gases.
Canada's new government will soon announce a regulatory framework that will give industry clear guidance for reducing greenhouse gases. The framework will include emissions credit trading. Currently, there is nothing preventing Canadian exchanges from creating carbon exchanges similar to those now operating in Chicago or in Europe.
Canadians will soon learn more about our environmental plan, which will set achievable targets to improve the quality of the air Canadians breathe and enable Canada to take its place as an international leader in the fight against climate change. Our plan will include a commitment to developing integrated regulations governing outdoor air pollutants and greenhouse gases. It will set performance standards concerning products that may release air pollutants when they are in use.
Our approach will avoid regulatory overlap and support the development of national standards to eliminate emissions into the atmosphere. This government is committed to making environmental progress while managing the economy. We must ensure that regional economies will not be annihilated in the process. We are determined to find solutions without creating new problems. We will establish mandatory reduction targets for big industries that produce greenhouse gases. These targets will be strict and will become stricter over the years. As a result, Canada will achieve absolute greenhouse gas emissions reductions, reductions that all Canadians and opposition members will be able to support.
This government is already headed in the right direction, I believe, in view of all the environmental initiatives it has introduced over the last few months. These initiatives bear out our promise to provide solutions that will protect the health of Canadians and their environment. We obviously take our promise very seriously, as can be seen in the implementation of financial and tax incentives to encourage Canadians to drive green vehicles and the support provided to sources of renewable energy, such as wind and tidal power. We are also giving Canadians incentives to improve the energy efficiency of their homes.
Recently in the 2007 budget, we announced a $4.5 billion investment to help clean up our air and water, manage chemical substances, protect our natural environment and reduce our greenhouse gas emissions. This investment plus more than $4.7 billion in others add up in total to more than a $9 billion investment in the environment.
As we have said on many occasions, Canadians are very interested in their environment. They constantly demand that steps be taken to clean it up. Before our new government took power, though, nothing was done in response to these demands. Now our government is taking concrete action, as can be seen in the examples I just enumerated. We know, though, that a lot more needs to be done in order to ensure that future generations have a clean environment.
Air pollutants and greenhouse gases have many sources in common, and that is why we are taking a coordinated, integrated approach to protecting the health of Canadians and their environment. The federal government not only intends to make major reductions in emissions but promises as well to monitor emissions and report on them in a completely transparent, public, responsible way in order to ensure that the announced reductions are actually achieved.
Regardless of their political allegiance, all members of a government should strive to achieve the objective of improving and protecting the quality of the air we breathe.
Everyone has a responsibility to take action on climate change, and the Canada's new government is clearly doing this.
