Canada supporting climate change adaptation at COP28

DUBAI, United Arab Emirates, Dec. 3, 2023 /CNW/ – The impacts of climate change threaten human well-being, the global economy, and planetary health. That is why Canada is supporting climate change adaptation plans and disaster risk reduction, at home and abroad.

In line with Health and Relief, Recovery and Peace Day at COP28, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, highlighted Canada’s international adaptation finance by investing in locally led and gender-balanced adaptation initiatives.

Minister Guilbeault announced an international climate finance commitment of $5 million over three years to the Least Developed Countries Initiative for Effective Adaptation and Resilience (LIFE-AR). This project aims to help least developed countries be on climate-resilient pathways by 2030.

Through the LIFE-AR initiative, least developed countries work with hundreds of experts from around the world to learn from, and build on, existing good practices. This initiative empowers least developed countries to build climate resilience, reduce their vulnerability, and showcase innovation. It is one example of how governments and civil society can work together to deliver real results for those most in need.

In 2021, Canada doubled its own international climate finance commitment to $5.3 billion over five years (2021–2026). This commitment increases the provision of funding toward adaptation to 40 percent, more than double Canada’s previous support.

At home, the Government of Canada is working with provinces, territories, Indigenous peoples, and other key partners and experts to implement the recently released National Adaptation Strategy. The Strategy, the first of its kind, lays out a framework to improve health outcomes, reduce the risk of climate-related disasters, protect nature and biodiversity, build and maintain resilient infrastructure, and support a strong economy and workers.

To support this, the Government of Canada Adaptation Action Plan, released alongside the National Adaptation Strategy, outlines federal action on climate change adaptation. With over 70 actions, the Action Plan outlines the federal contribution to achieving Canada’s climate change adaptation goals.

The environment, and the many people and communities affected, simply cannot wait. Meaningful commitments are needed now to continue our support for innovative climate adaptation initiatives in Canada and abroad.

“Least Developed Countries have been on the frontlines of efforts to keeping 1.5C within reach and addressing loss and damage. They remind us of the urgency of the triple crises of climate change, pollution, and biodiversity loss require urgent cooperation. For me, this announcement is about partnerships to advance transformational adaptation and sustainable development practices. COP28 is an opportunity for countries to come together as a global community to plan for a more climate-resilient future. Today’s announcement means more support for those that need it the most.”
– The Honourable Steven Guilbeault, Minister of Environment and Climate Change

Investments through Canada’s $5.3 billion international climate finance for developing countries from 2021–2026 will focus on clean energy transition and coal phase-out, climate-smart agriculture and food systems, nature-based solutions and biodiversity, and climate governance.In 2023, the Government of Canada announced a $16 million contribution to the start-up cost of a global fund to address loss and damage.In Canada, insured losses for catastrophic weather events have tripled to more than $18 billion in the last three decades. Every dollar spent on adaptation measures saves up to $13 to $15, including direct and indirect economy-wide benefits.Since 2015, the federal government has invested more than $6.5 billion in adaptation. This includes $2 billion in fall 2022 to implement the National Adaptation Strategy and support other adaptation-related activities.Canada joins the United States, Norway, Italy, the United Kingdom, Sweden, Ireland, Germany, Finland, Denmark, and Austria in the Partnership Compact for the Least Developed Countries (LDC) 2050 Vision, in support of the LDC Initiative for Effective Adaptation and Resilience (LIFE-AR).

International Climate FinanceCanada’s National Adaptation Strategy

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SOURCE Environment and Climate Change Canada