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Sunday, October 03, 2010

Clean Energy News; Government of Canada Announces Details of $400 million commitment for international climate change

Clean Energy News; Government of Canada Announces Details of $400 million commitment for international climate change

WATERLOO, ONTARIO--(http://www.investorideas.com/ clean energy stocks blog ) - Oct. 1, 2010) - Today, the Honourable Jim Prentice, Minister of the Environment, released the details of Canada's $400 million commitment for international climate change while speaking to the Centre for International Governance Innovation's annual conference.


"This represents Canada's largest ever contribution to support international efforts to address climate change and it will support three key areas in which Canada has considerable expertise: adaptation, clean energy, forests and agriculture," said Minister Prentice.

Funding for adaption will support critical on the ground projects that will build knowledge and adaptive capacity, while reducing vulnerability to natural disasters. Other funding will focus on mobilizing private sector investment in renewable energy and energy efficiency projects, and will provide technical assistance to developing countries as they work to implement these types of clean energy. Canada's contribution will also support projects in developing countries which are essential to laying the groundwork for ambitious global action on Reducing Emissions from Deforestation and Forest Degradation (REDD+).

Under the Copenhagen Accord, developed countries committed to provide fast-start financing approaching US$30 billion for 2010-2012 to support climate change mitigation, including financing for adaptation, capacity building, technology transfer and reducing greenhouse gas emissions from deforestation in developing countries.

As promised as part of the Accord, this investment represents the 2010 portion of Canada's fair share of the fast-start financing promised by developed countries under the Copenhagen Accord. While Canada contributes to 2 per cent of worldwide GHG emissions, it is contributing 4 per cent of the funding.



Canada will continue to work constructively to implement the Copenhagen Accord and to complete the negotiations under the UNFCCC for a comprehensive, legally binding post-2012 agreement that is fair, effective and comprehensive.

For the details of Canada's fast-start financing and the funding priorities, visit: www.climatechange.gc.ca/default.asp?lang=En&n=5F50D3E9-1.


For more information and to view a backgrounder on this announcement, please visit the Web site of Environment Canada at http://www.ec.gc.ca/.

(Egalement offert en francais)
For more information, please contact
Office of the Minister of the Environment

Pascale Boulay
Press Secretary
819-997-1441
or
Environment Canada
Media Relations
819-934-8008

1-888-908-8008
http://www.ec.gc.ca/
or

Canada's Environment Minister Twitter page:
http://twitter.com/jimprentice
or
Environment Canada's Facebook page:
http://www.facebook.com/environmentcan

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