Government of Canada

Government of Canada

November 27, 2015 11:39 ET

Prime Minister Announces Investment in Global Climate Change Action

VALLETTA, MALTA--(Marketwired - Nov. 27, 2015) - Prime Minister's Office

Today the Prime Minister, Justin Trudeau, announced that Canada will contribute an historic $2.65 billion over the next five years to help developing countries tackle climate change. The Prime Minister made the announcement ahead of the Paris climate conference while attending the Commonwealth Heads of Government Meeting in Malta.

Canada is committed to ambitious action on climate change, and is focused on the economic opportunities of our environment and creating the clean jobs of tomorrow. The science on climate change is indisputable and its significant impacts are already being felt by economies and communities, particularly in the world's most poor and vulnerable countries.

Canada's positive contribution will support the transition to low-carbon economies that are both sustainable and more resilient. Countries in need will receive support, in particular the poorest and most vulnerable, to respond to climate change and adapt to its impacts.

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.

Quote

"Canada is back and ready to play its part in combatting climate change, and this includes helping the poorest and most vulnerable countries in the world adapt. The investment announced today will help build a more environmentally sustainable future for generations to come. It is yet another example that Canada is once again a serious player in the international fight against climate change."

- The Rt. Hon. Justin Trudeau, Prime Minister of Canada

Quick Facts

  • Developed countries agreed in 2009 to mobilize jointly US $100 billion a year by 2020 from various sources.
  • The Organisation for Economic Co-operation and Development issued a report in October 2015 estimating that developed countries mobilized US $62 billion in 2014, an increase of $10 billion from 2013.
  • Canada's contribution represents a substantial increase in funding, scaling up to $800 million by 2020-2021. It represents a doubling of Canada's fast-start financing levels.
  • Over US $10 billion was pledged to the Green Climate Fund (GCF) in 2014, including $300 million from Canada. The GCF is now fully operational and has recently approved its first projects.

Associated Links

- Canada's Action on Climate Change

- Green Climate Fund

This document is also available at http://pm.gc.ca

Backgrounder

CANADA'S CLIMATE FINANCE COMMITMENT

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.

Contact Information

  • PMO Media Relations:
    613-957-5555