News release: FOR IMMEDIATE RELEASE
CARBIS BAY, U.K., June 13, 2021 – The announcement by Prime Minister Justin Trudeau at the G7 that Canada will double its international climate finance, to $5.3 billion over five years, was welcomed by the International Conservation Fund of Canada (ICFC), which has lobbied for an even larger increase to this aid.
In a communique, G7 leaders reaffirmed the collective developed countries goal to jointly mobilize US$100 billion per year from public and private sources, through to 2025. Canada's share of cumulative carbon emissions from developed countries is 3.7% (2%, including all countries). In line with this, ICFC recommends an annual contribution from Canada of $3.5 billion (CAD) in public funds.
"Investments in climate finance assistance made now will pay off over decades as we help lower-income countries follow green pathways in developing their economies and as we help them reduce local climate change impacts through adaptation measures," says ICFC co-founder Anne Lambert.
With its increased climate finance assistance, Canada announced greater support for climate change adaptation measures and for nature-based climate solutions. ICFC wlecomes this but advises that care must be taken in selecting nature-based solutions. Reducing the loss and degradation of tropical forests, grasslands, peatlands and coastal ecosystems is the top priority. Restoring ecosystems is also of value but this does not mean adding commercial plantations or afforestation of grasslands, the organization emphasizes. It adds that nature-based solutions must furnish strong climate gains while benefitting biodiversity and fully engaging local communities.
Coastal ecosystems protect against rising sea levels and storms, while forests, grasslands and wetlands protect water sources and guard against flooding and landslides. Improved agricultural practices are also important as nature-based solutions.
With the G7 2030 Nature Compact, G7 leaders pledged to halt and reverse biodiversity loss by 2030 through a suite of comprehensive action on biodiversity and climate. This is now widely understood to be essential for maintaining human well-being.
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Contact: Anne Lambert, ICFC Founding Director
About the International Conservation Fund of Canada
The International Conservation Fund of Canada is Canada’s leading charity for conserving nature in the tropics and other places where the diversity of life is most at risk. Since 2007, in partnership with local non-government organizations, ICFC has invested more than $30 million in 55 projects in 34 countries in Latin America, Africa and Asia.
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