Speech for the Honourable Steven Guilbeault, Minister of Environment and Climate Change, at GLOBExCHANGE 2025 – Strengthening Our Economy with Climate Action

Speech

February 11, 2025 – Toronto, Ontario

Check against delivery. This speech has been translated in accordance with the Government of Canada’s official languages policy and edited for posting and distribution in accordance with its communications policy.

Thank you for the kind introduction.

Good afternoon everyone.

Let me begin by acknowledging that we are gathered on the treaty lands and traditional territory of the Mississaugas of the Credit First Nation.

I am honoured to share these lands, and would like to pay tribute to their

legacy, as well as all First Peoples in Canada.

I’ve been looking forward to joining you here at GLOBExCHANGE.

I remember being here two years ago, when we talked about the future of finance for climate action and the determination of our government.

It is incredible to be back in this room with all of you. Each of you is a leader making a huge difference in the fight against climate change, in your own way and on your own scale.

You’ve come from across the country—nearly every province and territory—to be here.

Some of you are building the clean technologies that will power our future.

Some are pushing businesses to be more sustainable.

Some are on the frontlines of helping your communities adapt to the impacts of the climate crisis.

Moments like this—where people come together with purpose—is how real progress happens.

It will be no surprise to you all to hear that our country is in the midst of some very important discussions—about our economic future, and what that means for our communities.

And make no mistake, the choices we make today will shape the Canada of tomorrow.

Like many of you, I believe Canada is the best country in the world.

Of course, I think about our country’s breathtaking natural abundance, from mountains and plains, to boreal forests and tundra, to lakes and glaciers, stretching from coast to coast to coast. But ultimately, what makes Canada the best place on Earth are Canadians themselves.

As Canadians we are resourceful. We’re hardworking. And we don’t back down from a challenge of any sort.

That’s why this government has done more than any other in the fight against climate change.

• Canada’s plan is working: our emissions are at their lowest point in 27 years.
• All while our economy continues to grow, wages rise, and more good jobs are created—like the 76,000 Canadian jobs created in January.

Building a strong, sustainable economy is no easy task—it requires bold action, based on data and the conviction that a growing economy and a healthy environment are inseparable.

We are aware of this, and that is why we have made real progress:

• We launched the first-ever national climate plan.
• We put a price on pollution to stop industrial polluters from getting a free ride, and to drive innovation.
• We delivered historic investments of over $120 billion with the Clean Economy Investment Tax Credits, financing, and infrastructure funds for better public transit, and climate adaptation projects.
• We passed laws that hold governments accountable for reaching climate and workforce development goals.
• We stopped many harmful single-use plastics from polluting our rivers and oceans.
• We have introduced standards and regulations to stimulate innovation in the energy, electricity, methane, waste and other sectors.
• We have helped hundreds of thousands of homeowners make their homes more energy-efficient and save money with electric vehicles.
• We have gone from 1% to 15% protected oceans and conserved more than half a million hectares of land.

And because of that work, emissions are going down. Good-paying green jobs and wages are going up. And Canada is leading the pack.

The clean tech sector is one of the fastest growing in Canada, with about over 350,000 green jobs added in 2023.

But our government could not do this alone. Partnerships with the private sector and organizations like yours are critical if we want Canada to be a leader in the 21st century.

While we’ve made tremendous progress, we are at a pivotal moment, and we cannot afford to hit the brakes.

Not only would it be economically unwise, but the global energy landscape is shifting rapidly.

We must ensure Canada seizes the opportunities of the low-carbon economy, or we risk being left behind.

According to the International Energy Agency, demand for fossil fuels is peaking this decade. Clean energy investments are skyrocketing. Numbers don’t lie: in 2024, the world invested almost twice as much in clean energy as in fossil fuels. The world is moving.

Canada has the opportunity to be a reliable partner and supplier of clean technologies and resources to the world—like critical minerals—the building blocks of the low-carbon economy. There is no energy transition without critical minerals: no batteries, no electric cars, no wind turbines and no solar panels. And Canada is home to 34 different types of these minerals and metals.

Our grid is already over 80% clean, one of the most powerful on earth. With our recent plan to power Canada’s future, we are building on that advantage.

At the same time, we are leaning into our strong trade position. From hydrogen to nuclear and beyond, Canada is helping allies and partners around the world to shore up their energy security and support global energy transition while building strong, resilient economies.

I must admit that I often wish all would recognize this fact: that when we fight climate change, we’re also building a strong, resilient and sustainable economy. And the cost of climate change isn’t abstract—it is real.

Last year, communities in Alberta, British Columbia, and the Northwest Territories faced devastating wildfires, causing significant damages to our forests, homes and businesses.

The Insurance Bureau estimates for 2024 insured losses at over $8 billion. Each year, we spend about $1 billion combatting wildfires, and this is only rising. The Intergovernmental Panel on Climate Change has made it clear: the cost of inaction is measured in dollars, in lives, in communities lost to wildfires, floods, and droughts. If we wait, the price we pay—economically and environmentally—only gets higher.

Canadians know that we must be relentlessly focused on building a strong, sovereign, and sustainable economy fit for the 21st century.

They understand we need to skate where the puck is going.

That is what I hear when I talk to Canada’s unions, clean tech innovators and Indigenous leaders.

And I am looking forward to speaking with elected municipal officials tomorrow from across Canada about the importance of meeting this challenge.

There is no good reason to stand against common sense investments from firefighting equipment to electricity infrastructure, and even our bill to unlock tens of thousands of good jobs in Atlantic Canada’s offshore wind economy.

This is not just undermining Canada’s environmental leadership.

It is an attack on auto workers, electricians, solar companies, firefighters, farmers, and so many more. It is an attack on Canada’s economic future.

As Minister of the Environment, I have heard loud and clear what Canadians across the country have said about what they want to build:

• A Canada where energy is more affordable and cleaner.
• A future where we are not so dependent on critical minerals from foreign powers.
• A future where Canadian workers—engineers, skilled workers, technology innovators—lead the world in clean energy.
• A future where Indigenous peoples are at the forefront of building the clean economy and conserving Canada’s invaluable ecosystems.
• And a team Canada that finds ways to overcome challenges and stand up for its people and our country—because no, Canada is not broken.

The best way to protect Canada for generations to come and build a strong economy in a low-carbon future is to come together and work—with common purpose—towards our goals.

So my challenge to you is this: stand up for Canada, and for our place in the future.

Invest here. Build here. Innovate here.

Because every decision we make right now—every investment, every innovation, every push for smarter policy—determines the country our kids will inherit in 10, 20, 50 years.

And if we work together, if we refuse to let up, we won’t just keep up with the world. We’ll lead it.

I want to thank Elizabeth Gamble and the folks at GLOBE once again for bringing this group together at such a pivotal moment.

Long live Canada! Thank you!