MEDA joins in Congratulating Canada on Doubling of International Climate Finance to 5.3B Canadian Dollars

Prime Minister of Canada, Justin Trudeau, announced a doubling of Canada’s international climate finance from CA$ 2.65 to CA$ 5.3 billion, over a 5-year period, during the G7 meeting held this June in Cornwall England. Trudeau stated, “the increased funds will support climate adaptation efforts and nature-based solutions in low-income countries while accelerating the global transition beyond coal.”

The dollar sum and specific spending focus on international climate finance were not picked from thin air. In fact, the hard work of dedicated coalitions and individuals has helped inform the government of Canada’s direction leading to this announcement. Of these, the Canadian Coalition on Climate Change and Development (C4D), of which MEDA has been a contributing member since 2017, has been at the forefront of this effort.

The Canadian Coalition on Climate Change and Development (C4D) is a coalition of international development and environmental organizations working together to share knowledge and take concerted action to address climate change. C4D has regularly supported pre-budget consultation policy briefs and climate finance reports.

In August 2020, MEDA responded to Canada’s call for consultation on climate finance submitting its opinion, entitled “Canada’s International Climate Finance: How Canada’s Contributions can lead to green, just and resilient economies.” Of the many recommendations, the key message was that Canada needed to meet its fair share of the 100 billion committed globally. This message was amplified through C4D and echoed widely through the C4D membership.

On June 25th, following Trudeau’s announcement, MEDA joined C4D members in writing a letter to the Honourable Karina Gould, Minister of International Development, and the Honourable Jonathan Wilkinson, Minister of Environment and Climate Change congratulating them and the Canadian Government for doubling Canada’s International Climate Finance commitment to CAD 5.3 billion over the next five years.

In the congratulatory letter, C4D also urges the Canadian Government to work with the coalition and its members to ensure deployment of funds following these principles:

Ensuring climate finance additionality beyond existing Official Development Assistance (ODA);
Giving priority to adaptation and nature-based solutions;
Addressing loss and damage due to climate change;
Giving priority to feminist climate action, aligning investments with the Feminist International Assistance Policy (FIAP) Action Areas including providing direct support to women’s rights organizations leading the response to this climate crisis;
Supporting low greenhouse gas emissions pathways and climate-resilient development, and ensuring funds are not used to expand fossil fuels dependence;
Earmarking funds that will reach most vulnerable countries and people, particularly Small Island Developing States (SIDS) and Least Developed Countries (LDCs), and consistent with development effectiveness principles; the rights of Indigenous Peoples and;
Establishing diversified financing modalities beyond those used during the 2015 – 2020 period, based on learnings from the previous multi-year pledge.

Mennonite Economic Development Associates is an international economic development organization that creates business solutions to poverty.

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