November 2, 2021 – Glasgow, United Kingdom
Climate change is a global crisis that requires global action to help those most in need. Today at the COP26 climate meeting in Glasgow, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, attended the African Adaptation Acceleration Summit where he announced that Canada will contribute $37.5 million to the Least Developed Countries Fund (LDCF), up to $10 million to the Adaptation Fund that will support vulnerable countries against the devastating impacts of climate change, and up to $10 million for the National Adaptation Plan (NAP) Global Network.
With the additional support to the LDCF, this Fund will continue to address the adaptation needs of the poorest and most vulnerable countries through critical, on-the-ground projects related to water, agriculture and food security, disaster risk management and prevention, and fragile ecosystems. The Adaptation Fund supports projects and programs that help vulnerable communities in developing countries to adapt to climate change. Increased funding to the NAP Global Network will continue to build on results achieved to date and advance gender responsive capacity building. Funding for these important initiatives comes from Canada’s $5.3 billion international climate finance commitment over the next five years. Minister Guilbeault also announced that Canada will increase its provision of funding towards climate adaptation to a minimum of 40 percent.
Adaptation finance is critical to the success of COP26, particularly for vulnerable countries in Africa still struggling from the COVID-19 pandemic while seeking to build back in a more climate-resilient manner. So far, the speed and scale of climate finance in Africa have been insufficient to meet the urgent needs of climate change impacts, such as extreme heat and drought.
Canada’s previous international climate finance commitment of $2.65 billion has been delivered over the past five years and projects are expected to result in benefits including reducing or preventing 222 megatonnes of greenhouse gas emissions, helping 5.9 million people adapt to the effects of climate change in vulnerable communities, as well as contributing to the mobilization of additional climate finance investments from the private sector.