Recent announcements

In November 2015, in support of the Paris Agreement, Canada made an historic pledge of $2.65 billion over five years, scaling up to $800 million per year by 2020, to advance international climate change objectives. From this commitment, nearly $1.8 billion will support mobilizing private-sector investments in developing countries, in areas such as clean technology, climate-smart agriculture, sustainable forestry, and climate-resilient infrastructure. Since 2015, Canada has announced over $1.2 billion to specific initiatives and programs, including:

$300 million to the Green Climate Fund

The Green Climate Fund (GCF) is the largest dedicated international climate fund, helping developing countries to reduce their greenhouse gas emissions and adapt to the impacts of climate change. The GCF is aiming to invest 50 per cent of its resources to support adaptation, with half of the adaptation funding going to the poorest and most vulnerable countries. Developed and developing countries have pledged more than US $10 billion to the GCF, including $300 million from Canada.

Now operational, the GCF has begun funding ambitious and transformational climate change projects around the world. For example, the GCF is supporting the KawiSafi Ventures Fund to drive investment in off-grid solar in Kenya and Rwanda through small- and medium-sized enterprises. With support from the GCF, this project will help leverage private finance investments to address the lack of electricity and high kerosene dependence through affordable clean household solar energy solutions such as solar lanterns, solar home systems, and solar mini-grids.

$250 million to the Canada-International Finance Corporation (IFC) Blended Climate Finance Program

The Canada-IFC Blended Climate Finance Program involves a contribution of $250 million from the Government of Canada to mitigate risks deterring private investment in key areas such as resilient infrastructure, climate-smart agriculture, and renewable energy. This financing, when blended with IFC’s own investments, will mobilize private capital to help overcome the challenge of climate change.

The Canada-IFC Blended Climate Finance Program aims to mobilize private capital for global climate action and reflects Canada's commitment under the 2015 Paris Agreement to support developing countries in their transition to sustainable and resilient low-carbon economies.

$200 million to mobilize private sector support for climate action in Asian and Pacific countries

Through the Canadian Climate Fund for the Private Sector in Asia at the Asian Development Bank, Canada’s contribution will support catalyzing private investment in climate change action in developing Asian and Pacific countries, including small-island developing states that are among the most impacted by climate change. This support will help to reduce emissions and support a range of adaptation efforts in the region.

$150 million to the G7 African Renewable Energy Initiative to support renewable energy in Africa

Improving access to affordable energy services can play an important role in relieving poverty and in tackling climate change. Canada will work with its G7 partners to unlock the renewable energy potential in the region through catalyzing private sector investment in renewable energy in Africa, such as solar, hydro, and wind power. Canada’s contribution will feed into the G7 goal of supporting the generation of 10 Gigawatt (GW) of new renewable energy by 2020, and 300 GW by 2030.

$100 million for Climate Risk Insurance

This initiative will support the expansion of Climate Risk Insurance coverage in climate-vulnerable countries. It will aim to strengthen vulnerable countries’ ability to build back better and faster following natural disasters like hurricanes or floods.

$60 million to establish a Renewable Energy in Small Island Developing States (SIDS) Program at the World Bank

Canada supports the expansion of clean energy systems and infrastructure, the improvement of energy access for women and girls, and the provision of training and employment opportunities for women in non-traditional, sustainable technology sectors, in Small Island Developing States.

$50 million to the in G7 climate risk insurance initiative in developing countries

Through the G7 Initiative on Climate Risk Insurance, Canada’s contribution will help people in developing countries protect themselves against the economic consequences of more intense and increasingly frequent natural catastrophes like severe flooding, droughts or heavy storms. Insurance helps poor and vulnerable countries build resilience to the impacts of climate change by covering a portion of the risks that arise from natural hazards and extreme weather events. Together with the G7 and our partner countries, Canada is working to provide up to an additional 400 million poor people with insurance against the risks of climate change by 2020.

$35 million to reduce short-lived climate pollutants

Short-lived Climate Pollutants (SLCPs) are potent global warmers with a relatively short lifespan in the atmosphere compared to longer-lived greenhouse gases (GHGs), and they play an important role in climate change. In line with the Paris Agreement, reducing SLCPs is critical to meeting the goal of holding the increase in the global average temperature to well below 2 degrees Celsius, and to pursuing efforts to limit temperature increase to 1.5 degrees Celsius.

Of this funding, $25 million will help to reduce SLCPs through mitigation actions with key partner countries. This includes $14 million to SLCPs through partnerships with Mexico and Chile. In Mexico's oil and gas sector, we will work towards reducing gas flaring from plant operations, which is the burning of natural gas that cannot be processed. In Chile, we will capture methane that escapes from decomposing garbage at landfill sites and divert organic matter from waste through composting.

The remaining $10 million will be directed to the Climate and Clean Air Coalition (CCAC), an international initiative aimed at advancing efforts to reduce SLCPs in ways that protect the environment and public health, promote food and energy security and address near-term climate change.

$30 million to respond to the urgent adaptation needs of the least developed countries

Through the Least Developed Countries Fund (LDCF), Canada’s contribution will support adaptation action in the poorest and most vulnerable countries through the implementation of critical, on-the-ground projects, and will focus on sectors including water, agriculture and food security, health, disaster risk management and prevention, infrastructure, and fragile ecosystems.

Canada has joined efforts from other donor countries who together have announced more than US $200 million to support the LDCF, the only fund solely dedicated to supporting least developed countries.

$10 million to support the improvement of early warning systems in some of the most vulnerable communities

Canada’s contribution will be delivered through the World Meteorological Organization (WMO) to the Climate Risk Early Warning System (CREWS) project to help developing countries, particularly the small island developing states and least developed countries. These systems have been proven to reduce loss of life and economic hardship caused by meteorological hazards such as tropical cyclones, floods, severe storms, forest fires, and heat waves.

$5 million for the UNFCCC Capacity Building Initiative for Transparency

The Capacity Building Initiative for Transparency (CBIT) will support projects in developing countries that will enhance institutional and technical capacity by: strengthening national institutions for transparency-related activities in line with national priorities; providing relevant tools, training and assistance for meeting transparency requirements; and, supporting the improvement of transparency over time.

The CBIT is operationalized by the Global Environment Facility, to which Canada is an important donor and an active Council member.

$4 million to the National Adaptation Plans Global Network for climate-capacity building in developing countries

Through the National Adaptation Plans (NAP) Global Network Canada will support the poorest and most vulnerable countries’ efforts to adapt to the impacts of climate change. This funding will empower developing countries by giving them the tools to develop effective, home-grown solutions to adapt to the effects of climate change, including by building climate-change adaptation considerations into their policy, planning, and decision-making.

$3 million to the World Bank’s Transformative Carbon Asset Facility to support emission reductions in developing countries

Canada is joining the World Bank’s Transformative Carbon Asset Facility (TCAF), and will contribute $3 million. This initiative helps developing countries find new ways to reduce their emissions and to collaborate with partners on clean-energy projects like geothermal, hydro, solar and wind power, as well as on market systems like pricing pollution. Addressing climate change is vital to our economy. Initiatives like this one, which use the markets and private-sector partnerships, not only reduce emissions but also foster innovation and sustainable economic growth.

$2.5 million to the Clean Technology Centre and Network

Clean, innovative technologies are key to addressing climate change and to growing a global low-carbon economy. Through the Clean Technology Centre and Network (CTCN) Canada is helping developing countries access clean technologies that will help them pollute less and better adapt to the effects of climate change they are already facing. This funding will allow the use of innovative clean technologies in developing countries, in sectors such as energy, water, forestry, and agriculture.

$2 million for the Accelerator for Women Climate Entrepreneurs

This contribution will offer mentorship support in business and financial management, and examine and propose solutions to address the key barriers facing women-owned businesses in the delivery of climate-smart goods and services in developing countries.

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