Today, the Honourable Catherine McKenna, Minister of Environment and Climate Change, announced an important part of the vision for a clean-growth economy: the acceleration of the transition from traditional coal power to clean energy by 2030. Traditional coal-fired electricity does not use carbon capture and storage to trap carbon dioxide and store it.
The accelerating phase-out of coal power will significantly improve the air quality and the health of Canadians. These actions will reduce Canada's greenhouse gas (GHG) emissions by more than five megatonnes, in 2030. This reduction is the equivalent of taking 1.3 million cars off the road.
The Government of Canada will support this transition by using the Canada Infrastructure Bank to finance projects such as commercially viable clean energy and modern electricity systems between provinces and territories. Canada will attract global investments that grow the economy and create good middle-class jobs by providing investor certainty and a clear signal to the market that Canada is a leader in clean energy.
The regulatory actions announced today will put Canada on a path to move from 80 percent towards 90 percent non-emitting sources by 2030. Clean electricity will power cars, businesses, and homes across the country. By building a smart, integrated, clean-electricity system, we will deliver reliable and affordable power where it is needed.