Canada will contribute $450 million to the Green Climate Fund aimed at helping developing countries in the fight against climate change.
Environment Minister Steven Guilbeault made the announcement on Wednesday while in Brussels for a ministerial meeting on climate action later this week.
The announced contribution to the Green Climate Fund is part of the $5.3 billion over five years promised by Ottawa in 2021 in terms of international funding in the fight against climate change.
The government pointed out that the $450 million represents a 50% increase in what Ottawa invested in the Green Climate Fund in 2019.
Canada estimates that the envelope will fund projects and programs that will reduce “a total of 2.5 billion tonnes of carbon dioxide equivalent greenhouse gas emissions”. According to Ottawa, this will affect “278 million direct beneficiaries and 635 million indirect beneficiaries”.
The ministerial meeting on climate action will bring together around 30 ministers and other representatives on Thursday and Friday. They need to discuss their priorities ahead of the 2023 UN climate change conference.
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