As the year ends, Canadians will mark that 2024 is on track to be the hottest year ever recorded, with record-breaking extreme weather events driving up a wide range of costs from groceries to insurance premiums. Our comprehensive climate plan is making a difference in the fight against climate change, positioning Canada to have a stronger, greener economy, safeguarding us from increasing costs, and protecting our health and safety in the coming years and decades.
For the first time in Canada's history, the Government of Canada has released an early summary of Canada's greenhouse gas emissions estimates from the National Inventory Report ahead of the full publication in the spring of 2025. This report, announced by the Minister of Environment and Climate Change Canada, the Honourable Steven Guilbeault, reveals that Canada's economic sector emissions have dropped year-over-year between 2022 and 2023, to 694 megatonnes, a drop of 6 megatonnes. This is equivalent to taking over 1.8 million cars off the road for a year. Canada's emissions are now the lowest they have been in 27 years, excluding the pandemic years, and significantly lower than pre-pandemic levels.
In 2015, Canada's emissions were projected to increase by 9% by 2030 when compared to 2005 levels. The data today confirms Canada is now successfully bending the emissions curve. Thanks to the efforts of all Canadians, our economy continues to grow, all while we're cutting pollution.
Preliminary data includes:
- Between 2005 and 2023, the emission intensity of Canada's economy was cut by 34%.
- Since 2005, emissions from electricity decreased by 67 megatonnes (-58%) driven by the phase-out of coal-fired electricity generation.
In 2025, our focus on climate action will include finalizing pollution reduction measures in the oil and gas industry, a sector with a critical role to play in meeting the country's climate objectives. We will also finalize the Investment Tax Credits, which will support investments in technologies that will reduce emissions and create new, well-paying, middle-class jobs.
We are powering forward to a low-emission future. But there is more work to do. Building a clean economy is not a given-it will take real actions and the shared conviction that a strong economy and healthy environment can be built for everyone.
