Thank you, Mr. Chair. I am pleased to be here to speak about the approach of Global Affairs Canada on climate change, focusing on our ongoing support to developing countries.
Canada is helping to lead global efforts to support a low-carbon, sustainable and climate-resilient future for all and is delivering on its pledge to provide $2.65 billion by 2020 to assist developing countries most vulnerable to climate change.
Canada's climate finance is contributing to the ambitious global effort to reduce greenhouse gas emissions while placing a strong emphasis on support for the most vulnerable people, communities and countries, including small island developing states.
Our climate financing is aligned with Canada's feminist international assistance policy, which places women and girls at the heart of our efforts. Women and girls are disproportionately affected by climate change. Moreover, their important roles as entrepreneurs, farmers and household decision-makers mean that their voices and experiences are needed to contribute to climate change solutions.
However, according to the OECD development assistance committee, in 2014 gender equality dimensions were integrated in only 31% of bilateral climate official development assistance from all donors. To address this gap, Canada's feminist approach to environment and climate action is focusing on supporting women's leadership and decision-making; ensuring that climate-related planning, policy-making and financing address the particular challenges of women and girls; and, supporting employment and business opportunities for women in the renewable energy sector.
One example of the work that we are doing is in the area of increasing the access of women and girls to clean energy, which can create economic opportunities while reducing greenhouse gas emissions. For example, Canada is investing $20 million over five years to improve access to clean cookstoves in Haiti, thereby reducing health problems associated with indoor air pollution while opening new business lines for firms in product design, production and marketing.
In terms of delivering on our climate finance commitment, to date more than $1.2 billion in funding has been announced as part of Canada's $2.65-billion climate finance commitment. These initiatives are the result of joint efforts involving both Environment and Climate Change Canada and Global Affairs Canada.
While the majority of our climate finance is channelled through multilateral partnerships, a significant portion is also delivered bilaterally. Canada's bilateral funding has emphasized support for developing countries to adapt to the challenges of climate change. The funding has supported priorities such as clean technology, climate-smart agriculture, sustainable forestry, watershed management and climate resilience. Our bilateral climate finance has already supported 20 projects in climate-vulnerable areas in the Caribbean, Africa and Asia-Pacific, totalling $137 million over five years.
Women's livelihoods in climate-smart agriculture are being supported, for example, through a $3-million project in Ghana, which aims to increase food security and nutrition for families. The project provides financial and technical training to women farmers to increase agricultural production, strengthen links to markets and diversify food production.
Canada also recognizes that small island developing states have particular vulnerabilities in the face of climate change. To help address the challenges of Caribbean states in the face of catastrophic climate events, Canada is providing $25 million to the innovative Caribbean Catastrophe Risk Insurance Facility. The facility provides quick liquidity to countries to enable restoration of critical infrastructure and address humanitarian needs. Following the severe Atlantic hurricanes in late 2017, this facility provided payouts of $50 million to nine significantly affected states. At the G7 leaders' summit on June 9, Canada announced that it will invest a further $162 million to support coastal resilience in climate-vulnerable countries, including small island developing states.
Canada's contributions through multilateral mechanisms help to address common challenges faced by climate vulnerable countries and enhance their resilience. Canada has contributed $30 million to the Least Developed Countries Fund, which supports the world's 51 most vulnerable countries, including Afghanistan, Nepal, Senegal and Tanzania, in their efforts to adapt to the effects of climate change. This support has directly helped to improve the lives of over 4.4 million people and bring over 1.5 million hectares of land under more climate-smart management.
Canada has pledged $300 million to the Green Climate Fund, which was established as the financing mechanism for the United Nations Framework Convention on Climate Change to address both adaptation and mitigation needs.
The estimates for the financing required to tackle climate change run into the trillions, and this cannot be met by the public sector alone. Public sector climate finance can help leverage the private sector to advance innovative and viable climate solutions. That is why Canada will be providing $1.8 billion of our climate finance through repayable contributions, including through dedicated private sector facilities at multilateral development banks.
This funding incentivizes the private sector to do business in a way that contributes to a low-carbon future. Canada has been a pioneer in this regard. We were the first donor to establish dedicated climate finance funds at the International Finance Corporation, the Inter-American Development Bank and the Asian Development Bank. These investments have been pivotal in helping to catalyze private sector investments in renewable energy and private-sector-led climate mitigation and adaptation projects in developing countries.
Thank you, Mr. Chair, for this opportunity to present this overview of Global Affairs Canada’s approach and key achievements on climate change to date.