COP31: Canada, UK reaffirm $1.3 trillion climate finance goal, announce new commitments

详细摘要

Canada and the United Kingdom have reaffirmed their commitment to scaling up climate finance for developing countries, outlining funding plans as negotiations o ...

Canada and the United Kingdom have reaffirmed their commitment to scaling up climate finance for developing countries, outlining funding plans as negotiations over global finance targets continue at COP31 in Antalya, Türkiye.

In a joint statement on November 13, Canada's Minister of Environment, Climate Change and Nature Julie Dabrusin and UK Minister of State for Climate Transition Katie White reiterated their support for the New Collective Quantified Goal (NCQG), agreed at COP29 in Baku, Azerbaijan, in 2024.

The agreement calls for climate finance for developing countries to reach at least $1.3 trillion annually by 2035 from all sources, with developed countries taking the lead in mobilising at least $300 billion annually.

Both ministers reaffirmed their countries' obligations under Article 9 of the Paris Agreement to provide financial resources to developing countries. They also supported efforts to triple adaptation finance by 2035, following discussions at COP30 in Belém, Brazil.

Canada said it had delivered more than C$14.3 billion ($10.02 billion) in international climate finance since 2015. According to government estimates, this support is expected to help avoid nearly 658 million tonnes of greenhouse gas emissions by 2050 and assist 40.2 million people in adapting to climate impacts.

In April 2026, Canada announced a goal of providing more than C$14 billion ($9.8 billion) in climate-related support to developing countries over five years.

The package includes public grants, concessional loans, financing through multilateral development banks, investments by development finance institution FinDev Canada and efforts to mobilise private capital.

On November 13, Dabrusin announced C$116 million ( $81.27 million) for 12 climate finance projects, marking the first funding under the new five-year goal.

The UK said its international climate finance programme had helped 159 million people adapt to climate change since 2011, reduced or avoided 201 million tonnes of…

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