Canada is serious about working with its international partners on a new global climate agreement during and after the Paris climate conference. We are committed to acting in accordance with science, promoting de-carbonization, supporting climate change efforts in developing countries, and enabling future prosperity through a sustainable national and global economy.
Canada will commit $2.65 billion over five years in international climate finance to support the efforts and actions of the poorest and most vulnerable countries to adapt to the adverse effects of climate change. This contribution will support the commitment Canada made under the 2009 Copenhagen Accord to work with partners to jointly mobilize, from a wide variety of sources, US $100 billion annually by 2020.
Canada’s climate finance contribution will be delivered through a variety of channels and instruments for critical efforts, such as helping developing countries adapt to climate change, deploying renewable energy technologies, and managing risks related to severe weather events. Details on specific initiatives will be provided in the coming months.
This is a crucial year for global action, with the adoption of the post-2015 sustainable development goals in September and the work towards an agreement in Paris this December. This contribution will ensure that global efforts address development needs in a coherent and mutually-supportive manner. It will also provide support to innovative financing aimed at removing barriers and risk to investments from the private sector.
Canada recognizes the need for global climate financing to continue after 2020 and is committed to providing leadership and working with its international partners.