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Prime Minister Crest

Canada announces $44.8 million in new funding to support the CARICOM in addressing the climate crisis

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Canada recognizes that climate change and biodiversity loss do not respect borders and is committed to supporting climate action in developing countries through its $5.3 billion (2021-2026) climate finance commitment. While in Nassau, Prime Minister Trudeau announced $44.8 million in new initiatives focused on biodiversity, climate resilience, and disaster preparedness and recovery to support CARICOM in addressing the climate crisis.

Disaster READY Project – $15 million – World Food Programme

The impact of natural disasters and severe weather events regularly outstrips the disaster response capacity of Caribbean countries. Recovery can take many years and people living in situations of vulnerability are the least able to prepare for these events, which can further exacerbate vulnerability. This project aims to improve comprehensive disaster management in the Caribbean by building capacity and strengthening disaster response and social protection systems, thereby ensuring vulnerable people are supported to prepare for and recover from shocks. It will also provide top-ups to increase disaster insurance coverage provided by the Caribbean Catastrophe Risk Insurance Facility (CCRIF-SPC), to which Canada has already contributed (Canada-funded CARICOM Climate Adaptation Fund, Caribbean Development Bank; $20M; 2020-2023).

Enhancing Eco-systems and Coastal Protection for Climate Change Resilience in the Caribbean (ECP-Caribbean) – $12 million – Partnership with the Caribbean Community Climate Change Centre (CCCCC)

Climate change is contributing to the degradation of the Caribbean’s coral reefs and coastal ecosystems which in turn, continues to undermine the ability of Caribbean countries to protect themselves against the impacts of adverse weather events and natural disasters, and contributes to a loss of biodiversity with negative impacts on livelihoods and the economy. This initiative aims to increase the climate resilience of communities and vulnerable populations in the region by transforming the way coral reefs and coastal ecosystems are managed to ensure that their biodiversity is protected and that the vital services they provide are sustained.

Caribbean Organizations for a Resilient Environment (CORE) Project – $8 million – Caribbean Biodiversity Fund

The Caribbean region contains some of the world’s richest marine and terrestrial biodiversity that underpin the livelihoods of local populations. The project will provide small- to medium-sized grants to local environmental and women-rights organizations to reach key ecosystems such as mangroves, coral reef and forests, and increase ecosystem services that support Caribbean communities’ resilience to climate change. Organizations will work in areas of waste management, tourism, agriculture and fisheries with a view to improving ecosystem health.

Promoting Improved Climate Change Governance through the Implementation of Nature-Based Solutions in Latin America and the Caribbean – $5 million – Inter-American Development Bank (IDB)

The climate and nature crises are inextricably linked. Climate change is a key driver of biodiversity loss, while the degradation of ecosystems undermines the resilience of both people and nature to climate-related shocks and stresses. Nature-based climate solutions are key and cost-effective actions to help conserve, sustainably manage and restore ecosystems, while mitigating the impacts of climate change. Canada is at the forefront of efforts to help developing countries transition to low-carbon economies, while building resilience to the effects of climate change. In partnership with the Inter-American Development Bank, Canada is providing $5 million to help Latin American and Caribbean countries who request support to build their capacity for the adoption of nature-based climate solutions, in order to increase their climate resilience and protect ecosystems.

Water for Resilience in the Eastern Caribbean – $4.8 million – United Nations Development Programme

Climate change has led to significant variability in weather patterns leading to increased occurrence of droughts and shifts in the timing of wet and dry seasons. Storms and hurricanes of increasing intensity, combined with pressures from poor land-use management cause habitat loss and loss of ecosystem services that support a secure water and safe water supply. In response, this project aims to increase water security in Eastern Caribbean communities through gender-responsive access and nature-friendly water supplies for agricultural and home use.