Canada
Canada’s climate finance priorities and partnership with the Adaptation Fund
Developing countries, particularly the poorest, are the most vulnerable to climate change. Many have limited capacity to cope with the increasing frequency and severity of climate-related disasters, including extreme storms, droughts, and floods.
Canada recognizes the urgent need to mobilize ambitious action on climate adaptation. That is why we are working collaboratively with both domestic and international partners to achieve the goals of the Paris Agreement and the 2030 Agenda for Sustainable Development. Canada aims to ensure that communities can thrive in a changing climate.
In 2021, Canada doubled its international climate finance commitment to $5.3 billion over five years (2021–2026). This funding will support developing countries transition to low-carbon, climate-resilient, nature-positive, and inclusive sustainable development.
In June 2022, Canada joined the Champions Group on Adaptation Finance, advocating for a doubling of adaptation finance to support developing countries in preparing for and adapting to the impacts of climate change.
As part of this commitment, Canada is contributing CAD$10 million to the Adaptation Fund. This funding will help developing countries adapt to the worsening impacts of climate change and enhance the resilience of their communities and ecosystems. This contribution aligns with Canada’s climate finance commitment to dedicate at least 40% of its climate finance to adaptation projects and at least 20% to projects that leverage nature-based climate solutions and deliver biodiversity co-benefits in developing countries, especially those at high risk of climate-related emergencies.
AF funded Direct Access project in Indian Himalayan Region implemented by NABARD directly benefits 800 women headed families and increases their climate resilience.
Canada also continues to support women’s decision-making in climate action and recognizes that their leadership is critical to making the necessary changes to address climate change. In line with Canada’s Feminist International Assistance Policy, Canada is ensuring that gender equality considerations are integrated into at least 80% of climate finance projects. The Adaptation Fund’s Gender Equality Framework plays a key role in supporting the full and equal participation of women and girls in policy and program decisions.
Canada also recognizes the challenges faced by Least Developed Countries (LDCs) and Small Island Developing States (SIDS) in accessing finance for adaptation and disaster risk reduction. The Adaptation Fund’s ‘direct access’ mechanism, enabling national entities to access financing directly and manage their projects, is needed in many regions. This approach empowers developing countries to strengthen their national adaptive capacities.
For successful adaptation in developing countries, it is crucial to build partnerships that enhance ownership at the local, national and regional levels and promote effective action. Canada is committed to playing a role in these partnerships.
Contributions to the Adaptation Fund
| Contribution Effective Date | Total Contribution (US$) |
|---|---|
| March 2023 | 7,300,000 |
| Grand Total | 7,300,000 |