The government of Canada through its Ministry of Environment and Climate Change has announced additional funding support of 255 Million Dollars to developing nations. The purpose of the additional funding is to help developing countries improve their climate resilience, and protect nature. This very important announcement was delivered by the Canadian Minister of Environment, and Climate Change today Friday 16th, December 2022, at a press briefing in Montreal, Canada, where the United Nations Convention of Biodiversity Conference (COP15) is currently taking place.
The announcement is Canada’s latest aid to the Global Environment Funds toward the funding mechanism of the Global Biodiversity Framework. According to Minister Steven Guilbeault, the funding support will assist the Feminist Climate Action in West Africa, the United Nations Development Program Biodiversity Finance Initiative, and all nature-positive initiatives.
“ Those funds will also support the Feminist Climate Action in West Africa, the United Nations Development Program Biodiversity Finance Initiative, and all nature-positive projects,“ said Minster Guilbeault.
This announcement came at a time when Canadian Prime Minister Justin Trudeau had pledged earlier during the opening of COP15, a funding commitment of 350 Million Dollars to climate financing. To date, a commitment of One (1) Billion dollars has been made by the Canadian government to support climate financing and leverage climate base solutions, halt and reverse the loss of biodiversity. As a result of the financial commitment that Canada has given, the country is now the 7th largest contributor to global environment funding.
The 15th Conference of the Parties (COP15) to the United Nations Convention on Biological Diversity (CBD) is an international meeting bringing together governments from around the world. Participants will set out new goals and develop an action plan for nature over the next decade.
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