Home Research Canada announces $1.8 billion funding for developing countries to spur clean innovation

Canada announces $1.8 billion funding for developing countries to spur clean innovation

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Canada has revealed its plans of extending nearly $1.8 billion to developing countries in a bid to encourage clean innovation by involving the private-sector in the developing economies.

The move is a part of Canada’s overall commitment of $2.65 billion to help developing countries to fight and adapt to climate change and also to enable them to pollute less. This funding is in addition to Canada’s investments in bilateral programming to help developing countries reduce greenhouse gas emissions and adapt to the impacts of climate change.

The $1.8 billion funding was announced by Minister of Environment and Climate Change  Catherine McKenna and and Marie-Claude Bibeau, Minister of International Development and La Francophonie. According to the agenda, the investment will see increased involvement of the private-sector towards research and development of clean technology, climate-smart agriculture, sustainable forestry, and climate-resilient infrastructure.

According to plans, Canada’s bilateral support will focus, in particular, on empowering women and girls, and it will align with our commitment to support the United Nations Sustainable Development Goals.

Government of Canada has said that the pledged amount will be delivering through a range of trusted partners, including multilateral development banks, with demonstrated expertise in innovative finance solutions to address climate change. Canada’s climate-finance contribution includes funds for the private sector, at the International Finance Corporation, the Inter-American Investment Corporation and the Asian Development Bank.

The 2009 Copenhagen Accord committed the developed world to mobilize $100 billion per year to support green growth and climate resilience in developing countries. This commitment will create tremendous opportunities for business growth and innovation as companies invest in and market clean technology.

According to the World Bank, the Paris Agreement will help open up nearly $23 trillion in new opportunities for climate-smart investments in emerging markets, between now and 2030.

6 COMMENTS

  1. Is there no end to the largess of our government? We give away billions in a Country with 30,000 homeless, citizens living on Native Reserves living in abject poverty,unemployment at an unsustainable high rate,even adjusted for the gullible public, and no major projects currently given the go-ahead to ship our resources to seaports.
    And now the PM wants to put a job-killing carbon tax on all Canadians to sate the fantasists who run the global warming industry.

    Let’s rein in the spending for a while,until we see how badly in debt we will be after the next Federal budget.

  2. I am Conservative, but he is our Leader so I shall follow within reason. He might seem young and stupid but this is not the case. The world is a business and to operate it within a global matter to decrease carbon emissions is a delicate task, in case you didn’t know, people like money at any cost. We used to be a country that wasn’t so far divided with our politics, probably because we were Canadians and that’s all that mattered. If Justin can reduce carbon emissions on our planet, well then “Respect Justin” and at that point, I will regret not voting for him!

  3. More money thrown away on some useless nonsense instead of coming of with real science. Right now it’s no more mothers and fathers in Ontario, birthgivers with drugs & LGBT kids washrooms. No mayor in Canada allowed to pray to God in council, Christian law colleges disbarred. Money spent on Latvia instead of seeing Putin reaching for Trump’s Olympic Torch and science via Versailles chandelier. Trudeau is dead to French culture, a hipster smoking his joint and pushing this madcap lifestyle. Egotistical photo-ops without any substance. CANEXIT.

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