Yes, Madam Speaker, I will be sharing my time with my colleague, the member of Parliament for Guelph.
As I was saying, the mining sector produces the minerals and metals essential to clean technologies. Our forests are the most sustainably managed in the world and provide the foundation of the emerging bio-economy. Our oil and gas sectors are on their way to placing among the lowest-emitting producers in the world, and major players like Cenovus have committed to achieving net-zero emissions in their operations. They understand that achieving net zero is not a regulatory burden, but an economic necessity at a time when our government is making historic investments in renewables such as wind, solar, tidal and geothermal energies.
Natural Resources Canada is supporting all these efforts, with over 900 clean technology projects across the country. In total, we are investing nearly $1 billion in Canadian clean-tech innovations. The total value of these projects is in fact more than four times that of private sector investments.
Climate change is real. It is an existential threat to our planet, our homes and our way of life. It is a moment that calls for action. The only question is how? How do we continue to meet our needs, power our cities, heat our homes and grow our economy while producing fewer emissions. In particular, with C-12, how do we enure we are pushing forward all the time toward reading our goal of net zero emissions.
Right now, our electricity grid is currently 82% non-emitting. We need to get that to 100% and then rapidly expand the clean supply as we electrify our economy. We do that by promoting transmission connections like the Atlantic loop; continuing to invest in renewables like solar, wind, geothermal and storage; supporting the development of new energy sources; and helping remote communities move off diesel.
We also understand the need to improve the energy efficiency of our homes and offices, factories, schools and hospitals. That means building an inclusive retrofit economy that hires thousands of Canadians across the country, creating a made-in-Canada low-carbon building supply chain and implementing net zero building codes for new homes.
Finally, we are also investing in emerging areas of energy production. Let me take a few minutes to talk about just one: hydrogen.
Global production in hydrogen is expected to increase at least tenfold in the coming decades, accounting for close to a quarter of all the energy used around the world by 2050, and creating an industry valued at as much as $11.7 trillion. Canada can and must capture its share. We are ideally positioned to do so. In fact, name any country where hydrogen is being developed and deployed in a significant way, and the odds are that Canadian technology is at the centre of it. The opportunities are as diverse as the country itself.
In Alberta and Saskatchewan, we can capitalize on our natural gas sectors to produce clean hydrogen with the help of world-leading carbon capture used in storage technologies, lowering the emissions of every ounce of oil we produce. In Newfoundland and Labrador, we can leverage the extra electricity we produce alongside wind and other renewables for clean hydrogen production.
British Columbia, Manitoba, Ontario and Quebec will be able to use waste diversion for increased renewable natural gas production and leverage low-cost hydro power for large-scale clean hydrogen production.
Hydrogen and other low-carbon fuels also offer opportunities to reduce diesel dependency in Canada's north, giving largely indigenous remote and northern communities access to clean energy.
To capture the full range of hydrogen's potential, we are finalizing a national hydrogen strategy, a strategy that will serve as a catalyst for investments and strategic partnerships and make us a top three producer of hydrogen. That is just one example of the incredible opportunities out there.
We could talk about geothermal, tidal, biomass heating, SMRs, but I only have 10 minutes. Therefore, I will leave it at this.
Net zero is an economic opportunity for new jobs with new technologies and energy sources. The market is changing. Investors are making clear choices and putting their money into jurisdictions taking action on climate change. Canadian industry understands the direction markets are moving in and that our industries are following the money. They are already skating to where the puck is going.
Canada as a whole needs to get to net zero. To do that, we need a method for reporting and transparency, so we can achieve a net-zero economy by 2050, a national economy that continues to grow and a clean energy future that leaves no one behind. Canada's natural resources will be central to all of it.