Canada’s Commitment to Climate Finance for Developing Countries


climate change impact – Climate change and biodiversity loss do not respect borders and pose existential threats to all nations. These issues are catalysts for instability, conflict, starvation, and pandemics. The World Health Organization warns that climate change is affecting human lives and health in multiple ways, threatening the essential ingredients of good health such as clean air, safe drinking water, nutritious food supply, and safe shelter.

The Impact of Climate Change

Climate change impacts, like unpredictable rainfall and rising temperatures, are expected to cause significant harm to communities and individuals worldwide. Between 2030 and 2050, it is projected that around 250,000 additional deaths per year will occur due to malnutrition, malaria, diarrhea, and heat stress. Developing countries are the most affected by climate change and have the least capacity to manage its consequences.

Canada’s Climate Finance Initiative

In response to the global call for increased climate ambition, Canada has significantly increased its international climate finance. From 2021 to 2026, Canada will double its contribution from $2.65 billion to $5.3 billion. This initiative aims to help developing countries transition to low-carbon, climate-resilient, nature-positive, and inclusive sustainable development. Canada plans to:

  • Increase the proportion of grant funding to 40%, up from 30%
  • Allocate at least 40% of funding to climate adaptation projects
  • Allocate at least 20% of funding to nature-based climate solutions and biodiversity projects
  • Support women’s leadership and decision-making in climate action, ensuring at least 80% of projects integrate gender equality

Global Collaboration and Future Goals

Iclimate change impact – n the lead-up to COP26, Canada co-led the delivery plan to mobilize at least US$100 billion per year through 2025 to support climate action in developing countries. Canada has also joined 21 other countries in signing the statement on international public support for the clean energy transition. This commitment includes ending new direct public support for the international unabated fossil fuel sector by the end of 2022, under specific conditions aligned with the 1.5-degree Celsius warming limit and the Paris Agreement goals.

Canada continues to work with domestic and international partners to address climate change and promote sustainable, resilient, and inclusive global economic development. For more detailed information, visit the official website. i

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