Canada's fight against climate change goes international

Last week we wrote about the Canadian government's investment in combating the impacts of climate change domestically. This week, ahead of the seventh Ministerial on Climate Action (MoCA7) conference, Minister of Environment and Climate Change Steven Guilbeault announced on behalf of the Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada Harjit S. Sajjan the investment of CAD 450 million in the second replenishment of the Green Climate Fund (GCF). The GCF is the world's largest fund specializing in combating climate change and is one of the funding mechanisms for initiatives under the Paris Agreement.

This contribution is 50% more than what Canada invested in 2019 in the first GCF replenishment and is part of Canada's CAD 5.3 billion investment in climate programs. This CAD 450 million will support developing countries clean energy transition and support their climate-resilient development at a time when climate change is becoming more pronounced around the world. The funds that Canada will provide to the GCF will make it possible to implement, for example, clean and renewable energy projects in Indonesia and other countries in Southeast Asia, helping them on their journey away from coal-fired power. Helping to achieve this goal is a key element of Canada's support for the region under the Indo-Pacific Strategy.

With the adoption of the Kunming-Montreal Global Biodiversity Framework, Canada recognized GCF's leading role in supporting developing countries efforts to conserve and restore nature and biodiversity.