Canada’s approach to international climate finance
Long description
A visual listing targets and thematic areas for Canada’s approach to climate finance over the next five years.
- The three targets are:
- 40 percent towards adaptation
- 80 percent of projects integrate gender equality
- 20 percent for nature-based solutions and biodiversity co-benefits
- The four thematic areas are:
- Clean energy transition and coal phase-out
- Climate-smart agriculture and food systems
- Nature-based solutions and biodiversity
- Climate Governance
As part of our commitment to the Paris Agreement and the joint US$100 billion mobilization goal, Canada is providing $5.3 billion in international climate finance over five years starting in 2021. Canada’s $5.3 billion will help developing countries already affected by climate change to transition to sustainable, low-carbon, climate-resilient, nature-positive and inclusive development.
Canada will increase its proportion of grant funding up to 40%, from 30% previously, for improved access by affected communities, and increase its provision of funding towards adaptation to a minimum of 40% to help developing countries build resilience to climate change impacts. Canada will support the poorest and most vulnerable by adopting an inclusive, feminist approach to delivering climate finance, in recognition that often the most marginalized and vulnerable people, including women, girls and others, are disproportionately affected by climate change and biodiversity loss, but also have an important role to play in contributing to climate action.
Canada’s $5.3 billion commitment will also support developing countries to combat the dual crises of climate change and biodiversity loss, by allocating a minimum of 20% of its funding to projects that leverage nature-based climate solutions and projects that contribute biodiversity co-benefits. Canada will also adopt a nature positive approach across all programming to ensure that its climate-related interventions do no harm to the environment, and strive to contribute to positive biodiversity outcomes.
Over the next five years, Canada will focus its international climate finance on four main thematic areas: clean energy transition and coal phase-out, climate-smart agriculture and food systems, nature-based solutions and biodiversity, and climate governance.
Across these four thematic areas, Canada will continue to support women’s leadership and decision-making in climate action and ensure that 80% of its projects integrate gender equality considerations, in line with our Feminist International Assistance Policy.
Clean Energy Transition and Coal Phase-Out
Canada will support developing countries’ transition to clean energy by phasing out coal-powered emissions and promoting equitable access to reliable and cost-effective clean energy solutions and energy efficient technologies.
This priority complements Canada's leadership through the Powering Past Coal Alliance.
Climate-Smart Agriculture and Food Systems
Canada will work with developing countries to support smallholder farmers and food value-chain actors, especially women, to better adapt to climate change, and reduce their greenhouse gas emissions through improved access to and adoption of climate-smart agriculture and food system practices and agricultural nature-based climate solutions.
Nature-based Solutions and Biodiversity
Canada will support actions that protect, sustainably manage and/or restore natural or modified ecosystems in order to address climate change, while also generating biodiversity co-benefits.
Climate Governance
Canada will support projects that help strengthen the enabling environments for effective climate governance at the global, national and subnational levels in order to foster greener, more sustainable and equitable communities.
Further information on accessing Canada’s international climate finance is available on Global Affairs Canada website.
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