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Local weather change is the best long-term menace of our time, however it is usually the best alternative for our financial system and employees. Over the previous two days, the Prime Minister, Justin Trudeau, participated within the twenty sixth United Nations Local weather Change Convention of the Events (COP26) in Glasgow, United Kingdom, to stipulate Canada’s sturdy management on local weather change and work with companions on the trail ahead to a cleaner future.
Delivering Canada’s nationwide assertion, Prime Minister Trudeau advocated for elevated world ambition and motion to chop air pollution and create new alternatives for our employees. Since 2015, Canada has been delivering on actual local weather motion that has reduce air pollution, created new center class jobs, and guarded a wholesome setting, together with via investments of roughly $100 billion. To additional this crucial work, and be sure that Canada’s financial system and employees profit from the worldwide transition to a clear financial system, the federal government will proceed to make essential investments to struggle the local weather disaster and construct a greater future for everybody.
All through the summit, Prime Minister Trudeau championed placing a worth on air pollution in the direction of reaching world local weather targets, and known as on all nations to take daring motion to develop the usage of air pollution pricing globally. At present, simply over 20 per cent of the world’s emissions are coated by a worth on air pollution. But when vital economies world wide joined Canada by placing a significant worth on air pollution, we might have a greater shot at tackling the local weather disaster and constructing a cleaner world. To that finish, the Prime Minister known as for world leaders to work collectively to triple the worldwide emissions coated by air pollution pricing to 60 per cent by 2030.
Canada is acknowledged internationally as a pacesetter and innovator in pricing air pollution. Our worth trajectory to 2030 is likely one of the most bold on the planet. Pricing air pollution additionally places extra money again into the pockets of Canadians. In jurisdictions the place the federal carbon pricing system applies, all direct proceeds from the federal air pollution pricing system are returned to the jurisdiction the place they have been collected. A majority of proceeds are returned on to Canadians via Local weather Motion Incentive funds, which give 8 out of 10 households extra money again than they pay beneath the system.
The Prime Minister additionally introduced the Authorities of Canada’s proposal to ship eligible Canadians’ Local weather Motion Incentive on a quarterly foundation, beginning in July 2022. This alteration will ship cheques to Canadians extra steadily. By placing a worth on air pollution, Canadians and companies are inspired to innovate, discover new options, create center class jobs, and be leaders in creating the applied sciences the world wants as we construct a cleaner, inexperienced financial system.
On the Summit, Prime Minister Trudeau additionally highlighted Canada’s management in supporting creating nations as they adapt to local weather change and transition to a cleaner financial system. At present, the Prime Minister introduced investments of as much as $57.5 million to assist the world’s poorest and most susceptible nations adapt to the local weather disaster and improve their resilience.
The local weather disaster has additionally meant that meals, land, and water programs world wide are dealing with new challenges and threats. That’s the reason Canada is supporting new innovation on climate-resilient agriculture and meals programs. Canada will present $55 million {dollars} over three years for CGIAR, a world analysis partnership that goals to remodel these programs to not solely strengthen meals safety and finish starvation, but in addition promote gender equality, create new jobs and livelihoods, and ship local weather and environmental advantages world wide.
The Prime Minister advocated for clear electrical energy as a key factor to attaining a net-zero emissions financial system. The Authorities of Canada is dedicated to accelerating its clear power transformation by working with provinces, territories, business, and different stakeholders to make sure that Canada’s electrical energy grid achieves net-zero emissions by 2035.
The Prime Minister additionally introduced daring new measures to help with the clear power transition and phasing out of thermal coal. Coal is the only largest contributor to local weather change. To assist speed up the transition away from coal, the Prime Minister introduced as much as $1 billion for the Local weather Funding Funds Accelerated Coal Transition Funding Program, via Canada’s worldwide local weather finance contribution, to assist creating nations transition from coal-fired electrical energy to wash energy as rapidly as doable.
Decreasing world methane emissions is likely one of the quickest and lowest value methods of combating local weather change. Prime Minister Trudeau reaffirmed Canada’s help for the World Methane Pledge, which it formally joined immediately, and its goal of decreasing complete methane emissions by at the very least 30 per cent beneath 2020 ranges by 2030. Canada has set the worldwide tempo by changing into the primary nation to decide to decreasing methane emissions within the oil and fuel sector by at the very least 75 per cent beneath 2012 ranges by 2030, and to pursue methane reductions throughout financial sectors.
The Prime Minister additionally emphasised the significance of nature-based local weather options to assist scale back air pollution, adapt to the impacts of local weather change, shield and restore nature and biodiversity, and strengthen folks’s well being and well-being. Canada has dedicated to defending 25 per cent of its land and oceans by 2025, working towards 30 per cent by 2030. As a member of the High Ambition Coalition for Nature and People, Canada is strongly advocating for different nations to additionally decide to conserving 30 % of the world’s lands and oceans by 2030.
Canada acknowledges that, to realize most outcomes, our actions to guard and preserve nature and our efforts to mitigate and adapt to local weather change should be carefully aligned. Nowhere is that this more true than within the oceans. That’s the reason immediately, the Prime Minister introduced $9 million in extra help for the Ocean Threat and Resilience Alliance, to help their ongoing work serving to Small Island Growing States and coastal creating nations improve their resilience to the impacts of local weather change via nature-based options. He additionally introduced $6 million for the World Fund for Coral Reefs to help worldwide efforts in coral reef conservation and restoration.
Canada is already embracing the ability of nature to help efforts to deal with the twin crises of biodiversity loss and local weather change, together with by planting 2 billion bushes. As a part of these nature‑primarily based options, the Authorities of Canada has additionally dedicated to selling the rights, data, and management of Indigenous peoples in conservation, together with by supporting Indigenous-led stewardship initiatives. These initiatives present essential cultural, well being, and bodily advantages for Indigenous communities, whereas supporting wholesome ecosystems that present conservation and local weather advantages for all Canadians.
Lastly, the Prime Minister endorsed the UK‑led World Forest Finance Pledge, which goals to establish US$12 billion in public local weather finance from 2021 to 2025, to help additional ambition from forested creating nations.
Canada is a dedicated companion within the world struggle towards local weather change. That’s why the Authorities of Canada is main the way in which by taking actual local weather motion and creating the local weather options that may reduce air pollution and create new center class jobs for Canadians. By working with world companions, we’ll deal with the local weather disaster and construct a greater and cleaner future for everybody.
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“Tackling the local weather disaster will take all of us. Collectively, the worldwide group must speed up new and daring approaches to combating local weather change and constructing cleaner economies. Canada is dedicated to working with our companions to take sturdy local weather motion, create the center class jobs of the longer term, and construct a more healthy world for our kids and grandchildren.”
Fast Info
- Since October 2020, the Authorities of Canada has invested $53.6 billion into Canada’s inexperienced restoration.
- In partnership with the Carbon Pricing Management Coalition (CPLC), Prime Minister Trudeau co-hosted a high-level panel dialogue amongst world leaders on the essential position of carbon pricing in attaining world net-zero emissions.
- Canada’s strategy to pricing carbon air pollution units minimal nationwide requirements whereas permitting provinces and territories the pliability to implement their very own programs, demonstrating that we are able to tailor insurance policies to native wants whereas additionally attaining collective targets.
- The federal government lately introduced an annual improve within the benchmark carbon worth of $15 per yr starting in 2023, reaching $170 per tonne in 2030.
- In June 2021, Canada doubled its worldwide local weather finance contribution from the $2.65 billion introduced in 2015, to $5.3 billion over the following 5 years.
- Canada is saying as much as $57.5 million for 3 focused initiatives, devoted to constructing resilience in creating nations’ communities that want it most, together with:
- As much as $37.5 million for the Least Developed Nations Fund, to deal with the difference wants of the poorest and most susceptible nations. The Fund focuses on sectors resembling water, agriculture and meals safety, catastrophe danger administration and prevention, and fragile ecosystems.
- As much as $10 million for the Adaptation Fund, which funds tasks and applications that assist susceptible communities in creating nations adapt to local weather change, together with essentially the most climate-vulnerable nations resembling Small Island Growing States and least developed nations. The Fund’s help consists of rising the variety of accreditation entities and enhancing the standard of venture proposals.
- As much as $10 million for the Nationwide Adaptation Plan (NAP) World Community, which works with creating nations to deal with structural drivers of local weather vulnerability, in addition to to empower girls, marginalized teams, and people most affected by local weather impacts to take part within the NAP course of and form a rustic’s adaptation priorities. The Community will proceed and develop technical help, innovate and experiment with peer studying, and make data round NAPs extra accessible and compelling.
- CGIAR is a world partnership that unites organizations engaged in analysis for a food-secure future. Canada is a founding member of CGIAR and has been a top-ten donor for the final decade.
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