Cutting the pollution that is fuelling costly climate change while building a strong, sustainable Canadian economy to create jobs and invest in a competitive, decarbonizing world is the key to success in the 21st century. The latest National Inventory Report confirms Canada has bent the curve and is reducing emissions toward achieving the country's 2030 emissions reduction goal in a growing economy. Reliable emissions inventory tracking is crucial to understanding Canada's progress and next steps in climate action.
Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, released Canada's 2024 National Inventory Report, which tracks and reports on the country's greenhouse gas emissions. This year's edition provides estimates from 1990 to 2022.
The new National Inventory Report data for 2022 shows emissions were significantly lower, by 44 megatonnes, than Canada's pre-pandemic 2019 levels, which is equivalent to removing more than 13 million gas-powered vehicles from our roads. In fact, 2022 emissions of 708 megatonnes are the lowest they have been in 25 years, with the exception of the COVID‑19 years (2020 and 2021), when the sudden, global economic slowdown caused emissions to drop sharply. Even set against the sharp COVID dip, emissions were up only 9.3 megatonnes from 2021, lower than the 13 megatonnes forecasted by Environment and Climate Change Canada modelling and 14.2 megatonnes forecasted by the Canadian Climate Institute.
The pandemic rebound is the result of increases in emissions from transportation, buildings, and some subsectors of oil and gas production.
The inventory results confirm that Canada's economic growth continues to decouple from its greenhouse gas emissions. The emissions intensity of the Canadian economy has declined by 42 percent since 1990 (greenhouse gases per every dollar of gross domestic product).
Before Canada implemented its first major climate plan in 2016, Canada was tracking to increase emissions in 2030 by nine percent above 2005 levels. Today, the country is tracking to surpass its 2026 interim objective to reduce emissions by 20 percent over 2005 levels by 2026 and continues the momentum toward meeting its 2030 target.
This year's inventory also provides evidence that many parts of the economy are becoming more efficient and greener through the adoption of clean technologies; the switch to cleaner fuels and non-emitting electricity (hydro, wind, solar, nuclear); and structural economic changes as Canadians build a low-carbon economy.
The push for greater energy efficiency continued in the recently released Budget 2024, which commits $800 million to reduce emissions and lower energy bills for renters and homeowners by increasing support for energy-efficient home retrofits, including launching a new Canada Greener Homes Affordability Program.
The Government of Canada expects that in addition to economy-wide pollution pricing and other federal measures, complementary climate actions from the provinces and territories, municipalities, Indigenous peoples, businesses, and individuals-as well as the acceleration of clean technology innovation and adoption-will lead to further emissions reductions this decade. This will help ensure future generations can continue to enjoy a clean, safe, and healthy environment.
