Canada to Fund Forests, Farms and Coasts in Climate Efforts

Canada has pledged to spend more than $ 1 billion to help developing countries protect their coasts, forests and other natural ecosystems in an effort to combat climate change.

The funds will represent approximately one-fifth of Canada’s total $ 5.3 billion commitment to climate finance as part of international climate negotiations, Environment Minister Steven Guilbeault announced Saturday at an event at the COP26 climate conference in Glasgow, Scotland.

Dozens of recent studies have highlighted the rapid decline in biodiversity, with millions of species, from insects to birds, at risk of extinction in the coming decades. Climate change, deforestation and pollution are among the main drivers of biodiversity loss around the world, Environment and Climate Change Canada said in a statement.

“Canada’s new commitment to nature-based solutions in the world’s poorest and most vulnerable countries makes it explicit: the twin crises of climate change and biodiversity loss must be addressed together,” Guilbeault said. “A positive future for nature and net zero is the key to fighting climate change.”

Earlier this week, Prime Minister Justin Trudeau announced that Canada will donate $ 15 million to global funds to help countries protect coral reefs to adapt and become more resilient to rapidly changing ocean conditions. Past spending on similar programs such as the Pacific Biodiversity and Biodiversity Climate Change Initiative has already helped developing countries build climate resilience in their infrastructure and economies.

Guilbeault also announced Canada’s membership in a global coalition of countries with the goal of protecting 30 percent of the world’s lands and oceans by 2030, noting that the country is pressuring nations to develop a rigorous international agreement to stop the loss of biodiversity.

In addition to its international commitments, the federal government is spending $ 4 billion on Canadian initiatives to strengthen natural climate solutions aimed at fostering indigenous-led stewardship initiatives, ECCC said.

Reference-www.nationalobserver.com

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