Canada continues to play a leadership role on the world stage, driving ambitious action with international partners to fight climate change, biodiversity loss, and pollution.
On May 1, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, co-hosted a meeting with Jennifer Morgan, German State Secretary and Special Envoy for International Climate Action, and a group of contributors to take stock of the US$100 billion climate finance collective mobilization goal, in the context of meaningful mitigation actions and transparency on implementation.
Canada released the Climate Finance Delivery Plan with Germany in September 2021, ahead of the United Nations Climate Change Conference, COP26. The report projected that the US$100 billion goal would be achieved in 2023 and based on the positive updates from this meeting, contributors fully expect to meet the goal this year and will continue their efforts through 2025.
This meeting took place ahead of the Petersberg Climate Dialogue from May 2-3, co-hosted by Germany and the United Arab Emirates, where Canada advanced its international climate change objectives and set the stage for the 2023 United Nations Climate Change Conference (COP28) in the United Arab Emirates later this year.
The US$100 billion climate finance goal was one of the key commitments that was reaffirmed at the conference. Heading into COP28, Canada confirmed other key priorities, including: the global financial transformation necessary to achieve the Paris Agreement goals; the role of the first-ever global stocktake under the Paris Agreement in enhancing collective ambition; as well as loss and damage finance for the most vulnerable countries and communities.
Canada will continue its push to achieve an ambitious outcome at COP28 and is determined to work diligently to achieve a sustainable future, as well as ensuring full implementation of the Paris Agreement and other climate commitments.
