OTTAWA, 26 August 2019—CARE Canada today welcomed the Government of Canada’s announcement of $300 million to the Green Climate Fund (GCF) but noted that the commitment falls far short of expectations.
“At a time when the United Nations Secretary General, the Parliament of Canada, youth, women, scientists and others around the world are calling for bold new measures to tackle the climate crisis, the Prime Minister’s GCF pledge falls short of the level of ambition needed from Canada,” said Mara O’Brien James, President and CEO (Interim) of CARE Canada.
Canada’s announcement represents no increase over its initial GCF commitment in 2015. This contrasts with countries like the United Kingdom, Germany, and Norway – each of which recently pledged to double their GCF commitments. Canadian NGOs have estimated Canada’s fair share of GCF replenishment at $912 million over five years.
“The GCF has demonstrated its ability to act as the primary mechanism for mobilizing the type of funding women and girls in developing countries need to withstand the effects of climate change,” said Shaughn McArthur, CARE Canada Policy and Influence Lead.
“Today’s announcement is a missed opportunity to align Canada’s international climate finance with its Feminist Foreign Policy objectives, and to do its part to make the Paris Agreement work for advanced and developing economies alike.”
According to the United Nations, the world’s poorest 1 billion people (those living on less than $1 per day) are responsible for just 3% of the global carbon footprint. Although developing countries are already bearing up to 80% of the cost of climate change, including through food insecurity, loss and damage, compromised livelihoods and instability, adaptation funding (measures to help people withstand the impacts of climate change) amounts to less than 20% of total international climate finance.
Fully operational since 2015, the Green Climate Fund (GCF) is the world’s largest dedicated fund for climate action. Committed to balancing investments in adaptation and mitigation, the GCF’s current portfolio includes over USD 5.23 billion distributed between 111 projects in 99 developing countries.
Canada has been an active player in the GCF since its creation in 2010. Participating in the earliest discussions to shape the fund and serving on the GCF Board, Canada has helped bring about stronger policies on several issues, including gender, private sector engagement, and forest management. Canada will host a key meeting of GCF investors from 29 to 30 August 2019.
With estimates placing developing countries’ financial needs for climate action in excess of $5 trillion by 2030, it is vital that the GCF’s efforts to increase finance for climate change are successful.
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Lama Alsafimedia@care.ca | 613-228-5641
ABOUT CARE CANADA
Founded in 1945 with the creation of the CARE Package®, CARE develops solutions alongside women and girls in developing countries to lift themselves, their families, and their communities out of poverty and out of crisis. CARE stands with women and girls around the world in economic empowerment. We bring women, girls, and their communities together to challenge inequality while facing issues like food insecurity, climate change, and emergency relief in times of crisis or disaster. In 2018, CARE worked in 95 countries and reached more than 56 million people around the world.
To learn more about CARE Canada, visit www.care.ca.