The imperative for climate action has never been more evident than it is today. Climate change is affecting the safety, health, and quality of life of people across the country. In response, Canada is taking bold and immediate action to fight climate change while strengthening the economy, driving the creation of new, well-paying jobs, and ensuring the competitiveness of our industries.
Today, the Government of Canada published the first Progress Report on the 2030 Emissions Reduction Plan (2030 ERP). Coinciding with the publication of the Oil and Gas Emissions Cap framework, today's publication is timely, as Canada participates in the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), where the world is focusing on how to implement ambitious climate action.
In the 20 months since the release of the 2030 ERP in March 2022, the Government of Canada has been implementing more than 140 climate measures and working with partners, including provinces, territories, and National Indigenous Organizations, to turn ideas into concrete and effective action. Job creation continues to grow as emissions decline.
In 2015, Canada was trending to exceed 2005 greenhouse gas emissions levels by nine percent by 2030, but since then, many sectors of the economy have made real and measurable progress to lower their emissions, helping Canada successfully bend the emissions curve and putting us on track to beat the previous target of 30 percent reductions below 2005 levels. The first Progress Report shows how this is being accomplished.
With the full implementation of the 2030 ERP, Canada is now projected to exceed Canada's interim objective of 20 percent below 2005 levels by 2026. Between previously announced measures and the additional actions to be explored that are included in the Progress Report, Canada remains firmly on track to meet our ambitious but achievable 2030 target.
With six years of policy development still ahead and major initiatives currently under development, there are more opportunities to reduce emissions and achieve our 2030 goal. Moving forward, Canada will finish updating existing regulations to reduce oil and gas methane by at least 75 percent by 2030. Moreover, sustained implementation of the 2030 ERP-including finalizing the cap on oil and gas sector emissions; releasing and implementing the Green Buildings Strategy; and developing climate plans for the marine, rail, and aviation sectors-will contribute to reaching Canada's climate targets. It will help ensure that the conditions are right to seize the growing opportunities of a clean future, a healthy environment, and a strong economy.
Complementary climate actions from the provinces and territories, municipalities, Indigenous peoples, businesses, and individuals-as well as the acceleration of clean technology innovation and deployment-will lead to further emissions reductions in the lead up to 2030. This year's emissions projections data has been visually enhanced. Canadians can now easily track progress toward the 2030 goal and explore trends in greenhouse gas and air pollutant emissions in Canada through an interactive dashboard.
Every sector of the economy has a role to play, and by taking collective action to reduce greenhouse gas emissions, our economy will be stronger, sustainable, and more competitive into the future.
