Announcements

In 2021, Canada doubled its international climate finance commitment to $5.3 billion over the next five years. Below is a list of key announcements to date.

Recent announcements

Up to $1B to the Climate Investment Funds – Accelerated Coal Transition Initiative (CIF-ACT)

At COP26, Canada announced it will contribute up to $1 billion to CIF-ACT to help developing countries transition from coal-fired electricity to clean power as quickly as possible. This contribution will help lead to the successful implementation of country-level strategies and associated kick-start projects, build support at the local and regional levels, and accelerate the retirement of existing coal mines and coal power plants while enabling new economic activities and contributing to a socially inclusive and gender equal transition.

See news release for more information.

$315M to Partnering for Climate

This initiative will fund projects from Canadian civil society, Indigenous and other organizations to support climate change adaptation in the Global South. From this funding, $300 million will encourage broad non-governmental engagement in climate change programming in sub-Saharan Africa—including $20 million for advancing women’s rights and climate change adaptation—and $15 million will support Indigenous peoples and organizations in Canada in advancing climate action alongside Indigenous partners in developing countries.

See news release and program page for more information.

$55M to CGIAR’s Climate-Smart Agriculture and Food Systems Research

The climate crisis has also meant that food, land, and water systems around the world are facing new challenges and threats. That is why Canada is supporting new innovation on climate-resilient agriculture and food systems. At COP26, Canada announced it will provide $55 million dollars over three years for CGIAR, a global research partnership that aims to transform these systems to not only strengthen food security and end hunger, but also promote gender equality, create new jobs and livelihoods, and deliver climate and environmental benefits around the world. Canada is a founding member of CGIAR (formerly the Consultative Group for International Agricultural Research) and has been a top-ten donor for the last decade.

See news release for more information.

$37.5M to the Least Developed Countries Fund (LDCF)

At COP26, Canada announced it will renew its support to the LDCF by providing up to $37.5 million to address the adaptation needs of the poorest and most vulnerable countries. The LDCF supports critical, on-the-ground projects in sectors such as water, agriculture and food security, disaster risk management and prevention, and fragile ecosystems. This builds on Canada’s previous contribution to the LDCF from its $2.65 billion climate finance commitment (2015-2021).

See news release for more information.

$25M to the World Bank’s Energy Sector Management Assistance Program (ESMAP)

At COP26, Canada announced a $25 million contribution to ESMAP, a partnership with the World Bank. This will help develop and implement clean energy alternatives, and support low- and middle-income countries in the transition to a cleaner economy.

See news release for more information.

$10M to the Adaptation Fund

At COP26, Canada announced it will contribute up to $10 million to the Adaptation Fund, which finances projects and programs that help vulnerable communities in developing countries adapt to climate change, including the most climate-vulnerable countries such as Small Island Developing States and least developed countries. With this first contribution to the Adaptation Fund, Canada supports developing countries’ full ownership of adaptation projects, from planning through implementation.

See news release for more information.

$10M to the Climate and Clean Air Coalition (CCAC)

At COP26, Canada announced it will invest $10 million over five years towards the CCAC Trust Fund. As a founder and a top donor to the Coalition, Canada’s contribution will provide critical long-term support to advance the mandate of the CCAC to reduce the emissions of short-lived climate pollutants across key sectors.This support builds on Canada’s previous $10 million contribution from its $2.65 billion climate finance commitment (2015-2021).

See news release for more information.

$10M to the National Adaptation Plan (NAP) Global Network

At COP26, Canada announced it will contribute up to $10 million for the NAP Global Network which works with developing countries to address structural drivers of climate vulnerability, as well as to empower women, marginalized groups, and those most affected by climate impacts to participate in the NAP process and shape a country’s adaptation priorities. Canada’s contribution to the NAP Global Network build on its previous $4 million contribution from its $2.65 billion climate finance commitment (2015-2021). With this additional funding, the Network will continue and expand technical support, innovate and experiment with peer learning, and make knowledge around NAPs more accessible and compelling.

See news release for more information.

$9M to Phases II and III of the Ocean Risk and Resilience Action Alliance (ORRAA)

At COP26, Canada announced it will contribute $9 million for ORRAA, to support their ongoing work helping Small Island Developing States and coastal developing countries increase their resilience to the impacts of climate change through nature-based solutions. Canada is a founding partner of ORRAA, and this additional support builds on its previous $2.5 million contribution from the $2.65 billion climate finance commitment (2015-2021).

See news release for more information.

$8M to the International Energy Agency Clean Energy Transitions Programme

At the International Energy Agency (IEA) Ministerial meeting, Canada announced an $8 million contribution over 4 years to the IEA’s Clean Energy Transitions Programme (CETP). Canada’s contribution will support major emerging markets to build capacity for clean energy transitions. With a focus on emerging economies, the CETP aims to advance expert-level cooperation between countries/regions and assist them in their clean energy transition priority-setting through high-level strategy planning, technical capacity building, and sharing international experience.

See news release for more information.

$6M to the Global Fund for Coral Reefs (GFCR)

At COP26, Canada announced it will contribute $6 million for the Global Fund for Coral Reefs to support international efforts in coral reef conservation and restoration. Through blended finance and innovative public-private partnership, the GFCR is catalysing the private sector’s role in the conservation and restoration of vital coral reef ecosystems. This contribution is part of the Canada’s efforts to enhance its support for Nature-based Solutions and biodiversity in developing countries.

See news release for more information.

Global Forest Finance Pledge

At COP26, Canada endorsed the Global Forest Finance Pledge to help finance the protection, restoration, and sustainable management of forests in developing countries. Through this pledge, signatory countries announced their intention to collectively provide US$12 billion for forest-related climate finance between 2021-2025.

Previous announcements (2015-2021)

In 2021, Canada met its 2015 $2.65 billion international climate finance commitment. Our contributions have played a valuable role in bringing about global climate action and in generating concrete outcomes to tackle the climate crisis. This shows a list of Canada’s announcements from 2015 to 2021 to support developing countries transition to low-carbon, sustainable and resilient development.

$340M to the International Fund for Agricultural Development (IFAD)

In July 2021, Canada announced an additional $190 million contribution to IFAD. This contribution will expand support for agriculture development activities in rural areas that create opportunities for small-scale farmers, especially women, and overcome poverty and food insecurity. The contribution supports climate-smart agriculture in developing countries to strengthen environmental sustainability and resilience to climate change and adopt technologies and practices that help mitigate the carbon footprint of agriculture. This contribution is in addition to previously announced $150 million to IFAD in 2020.

See news release for more information.

$300M to the Green Climate Fund (GCF)

In 2015, Canada pledged $300 million to the Green Climate Fund (GCF), 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 - as well as mobilizing private sector resources for climate friendly investments.

Canada pledged anadditional $300M in 2019 to the first replenishment of the GCF, of which $50M is part of the $2.65B climate finance commitment. Developed and developing countries have pledged close to US $10 billion to the GCF, including $300 million from Canada.

See news release for more information.

$275M to the World Bank to create the Energy Transition and Coal Phase-Out Program

This program will assist developing countries, particularly in Southeast Asia, to phase out their dependence on traditional coal-fired electricity generation while supporting energy-efficient and renewable-energy alternatives to power their fast-growing economies. The program will also mobilize private-sector financial resources for climate action and provide training and employment opportunities for women in clean-energy sectors.This contribution complements Canada’s leadership on the Powering Past Coal Alliance.

See news release for more information.

$250M 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.

See news release for more information

$223.5M to the second phase of the Canadian Climate Fund for the Private Sector of the Americas (C2F) within the Inter-American Development Bank

The Canadian Climate Fund for the Private Sector in the Americas at the Inter-American Development Bank aims to finance private sector climate mitigation and adaptation projects in Latin America and the Caribbean that need concessional financing to become viable projects. This project includes innovations to promote gender equality as part of mobilizing private sector investments.

See news release for more information.

$200M for Canadian Climate Fund for the Private Sector in Asia at the Asian Development Bank

Through the Canadian Climate Fund for the Private Sector in Asia at the Asian Development Bank, Canada’s contribution will support greater private sector participation in climate change mitigation and adaptation in low and lower middle-income countries and upper middle-income small island developing states in Asia and the Pacific. 

See news release for more information.

$150M to the G7 African Renewable Energy Initiative

This funding will unlock the renewable energy potential in Africa through leveraging private sector investment in sector such as solar, hydro, and wind power.

See news release for more information.

$132.9M to the Canada-African Development Bank Climate Fund

The Fund will allow for gender-responsive climate change mitigation and adaptation projects in developing African countries. Canada’s contribution will enhance women’s economic rights and participation in climate action, and mobilize private capital to fill the gap in climate investment in Africa.

See news release for more information.

$100M for Climate Risk Insurance

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

See news release for more information.

As part of this initiative, Canada announced$2.5M towards the Ocean Risk and Resilience Action Alliance (ORRAA) in support of the Charlevoix Blueprint for Healthy Oceans, Seas and Resilient Coastal Communities, to help mobilize innovative financing solutions to protect ocean health and build resilience to extreme weather events for vulnerable coastal communities. See news release for more information.

$92M to the Global Environment Facility (GEF)

As part of Canada’s overall contributions to the Global Environment Facility (GEF)Footnote 1  to address global environmental challenges and support sustainable development, $92M are being delivered for programing in support of climate change adaptation and mitigation.

$75M to the World Bank Sustainable Forest Landscape program

This contribution will support the reduction of greenhouse gas emissions by addressing deforestation and forest degradation and foster conservation, sustainable management and enhancement of forest resources in developing countries, including in the Caribbean.

See news release for more information.

$60M to establish a Renewable Energy in Small Island Developing States Program at the World Bank

This funding supports the expansion of clean energy systems and infrastructure (including battery solutions), 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.

See news release for more information.

$55M for the Land Degradation Neutrality (LDN) Fund

Canada’s contribution will help the LDN Fund achieve its mission of restoring degraded land and reducing or avoiding greenhouse gas emissions. Canada’s contribution will help maximize development impact and increase private sector investment in land restoration.

See news release for more information.

$50M for the G7 Climate Risk Insurance Initiative

Canada’s contribution will help provide access to insurance against extreme weather to an additional 400 million poor and vulnerable people.  This includes $40 million to the Africa Risk Capacity (ARC) for climate risk insurance.

See news release for more information.

$37.5M to the Least Developed Countries Fund (LDCF)

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

See news release from November 30, 2015 and from August 26, 2019 for more information.

$35M to reduce short-lived climate pollutants (SLCPs)

Reducing SLCPs is critical to meeting the Paris Agreement 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 support the implementation of Nationally Determined Contributions through partnerships with countries such as Mexico, Chile, and Pacific Alliance and West Africa countries. The remaining $10 million is 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.

See news release for more information.

$20M for Canada-CARICOM Climate Adaptation Fund

This funding will provide support adapted to the needs and capacities of CARICOM countries for initiatives leveraging multilateral and private sector financing in areas such as agriculture, water infrastructure, and environmental sustainability.

See news release for more information.

$10M to the Climate Risk Early Warning System (CREWS) initiative through the World Meteorological Organization (WMO)

Canada’s contribution to the CREWS project will help improve early warning systems in some of the most vulnerable communities, including small island developing states. 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.

See news release for more information.

$9.5M to the Climate Finance Access Network (CFAN)

Implemented by the Rocky Mountain Institute, this contribution to CFAN will help some of the most climate-vulnerable countries, notably Pacific small island developing states, to more easily access international climate finance.

This Network will help empower developing countries to chart their own course in securing climate finance more quickly and effectively by deploying highly-trained climate finance advisors dedicated to securing climate financing for priority investments in climate resilience and energy transition. 

See news release for more information.

$5M for the UNFCCC Capacity Building Initiative for Transparency (CBIT)

The Capacity Building Initiative for Transparency (CBIT) will support projects to help developing countries fulfill transparency requirements of the Paris Agreement. The CBIT is operationalized by the Global Environment Facility, to which Canada is an important donor and an active Council member.

See news release for more information.

$5M for gender and climate finance (Convergence)

Canada's contribution will support the development of innovative climate finance initiatives in which gender is a core element under the direction of Convergence - one of the world's leading conveners and supporters of blended finance for development and an active promotor of gender lens investing.

See news release for more information.

$5M to support the Partnership for Market Implementation (PMI)

In partnership with the World Bank, Canada’s contribution will assist developing countries in designing, piloting, and implementing domestic carbon-pricing.

See news release for more information.

$4M for the National Adaptation Plan Global Network (NAP Global Network)

Managed by Canada-based International Institute for Sustainable Development (IISD), Canada’s contribution to the NAP Global Network will support adaptation planning in developing countries with a focus on small island developing states.

This funding will empower developing countries 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.

See news release from November 19, 2016 and from June 10, 2018 for more information.

$3M for the Transformative Carbon Asset Facility (TCAF) at the World Bank

This initiative will focus on clean-energy projects and on lessons learned from carbon trading mechanisms to help developing countries find new ways to reduce their emissions.

See news release for more information.

$2.5M for the Climate Technology Centre and Network (CTCN)

Through the Clean Technology Centre and Network (CTCN), Canada is helping developing countries access clean, innovative technologies that will help them pollute less and better adapt to the effects of climate change, in sectors such as energy, water, forestry, and agriculture.

See news release for more information.

$2M 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.

See news release for more information.

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