Canada pledges $30 million to finance climate projects in the least developed countries

PARIS, France, Nov. 30, 2015 /CNW/ - Today, speaking at a Paris climate conference event for the Global Environment Facility (GEF), the Honourable Catherine McKenna, Minister of Environment and Climate Change, announced Canada's contribution of Can$30 million to finance projects through the Least Developed Countries Fund (LDCF), a fund that is addressing the urgent and immediate adaptation needs of the poorest and most vulnerable countries. Canada has joined efforts from other donor countries who together have announced more than US$200 million to support the LDCF.

Climate change has implications on health, agriculture, economy, trade, and transportation and energy infrastructure that will be felt by all countries, particularly the poorest and most vulnerable. Canada's contribution to the LDCF is part of its commitment to support adaptation action in the poorest and most vulnerable countries through the implementation of critical, on‑the-ground projects, and will focus on sectors including water, agriculture and food security, health, disaster risk management and prevention, infrastructure, and fragile ecosystems.

Today's announcement is part of Canada's pledge of Can$2.65 billion over the next five years to support developing countries' transition to low carbon economies that are both greener and more climate resilient. This is the most significant Canadian climate finance contribution ever.

Quotes

"Canada recognizes the importance of supporting adaptation action in the most vulnerable countries, which are struggling with the impacts of climate change. We are proud to be part of this joint effort to further support the Least Developed Countries Fund."
– The Honourable Catherine McKenna, Minister of Environment and Climate Change

"From the necessities of life, such as water, food and air, to the supply of natural resources for economic growth and resilience to natural hazards, those living in poverty face the greatest adverse effects of climate change. This is why Canada is committed to supporting the poorest and most vulnerable countries increase their capacity to adapt to climate change and improve environmental sustainability which underpins the health and livelihoods of their people."
–The Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie

"Through the projects financed under the LDCF, our goal is to help Least Developed Countries become more resilient to climate change by integrating adaptation measures across their development policies, plans and programs, at all levels and by all those concerned, including governments, private enterprises, civil society and indigenous peoples."
– Dr. Naoko Ishii, CEO of the Global Environment Facility

Quick Facts

• The Global Environment Facility (GEF) was established during the 1992 Rio Earth Summit to help tackle our planet's most pressing environmental problems. Since then, the GEF has provided US$14.5 billion in grants and mobilized US$75.4 billion in additional financing for almost 4,000 projects. GEF projects have sought to enhance energy codes for buildings, promote conservation, and pollution reduction.
• Administered by the GEF, the Least Developed Countries Fund (LDCF) is the only fund dedicated to supporting adaptation in least developed countries, and is a critical channel for support of national adaptation plans of action. Investment in these plans has been identified as a key investment priority by developing countries.
• National adaptation programmes of action provide a process for least developed countries to identify priority activities that respond to their urgent and immediate needs to adapt to climate change.
• Consistent with the approach of national adaptation programmes of action, the LDCF focuses on reducing the vulnerability in sectors and resources that are central to development and livelihoods, including: water, agriculture and food security, health, disaster risk management and prevention, infrastructure, and fragile ecosystems.
• With this additional contribution, Canada has now provided $60 million to the LDCF.

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SOURCE Environment and Climate Change Canada

Caitlin Workman, Press Secretary, Office of the Minister of Environment and Climate Change, 819-938-9436; Media Relations, Environment and Climate Change Canada, 819-934-8008