Prime Minister Mark Carney announced $540 million in climate funding for an initiative co-led by Brazil and Norway to protect tropical rainforests.
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Prime Minister Mark Carney announced $540 million for an initiative aimed at protecting tropical rainforests, as part of Canada’s broader international climate-finance plans.
Carney made the announcement during a brief visit to Manila, where he attended an Association of Southeast Asian Nations summit and discussed Canada’s trade priorities in the region.
The funding is part of a $6 billion fund Ottawa pledged this spring to support international climate finance, with the project described as one that is meant to attract both public and private investment for biodiversity preservation and for communities that rely on these ecosystems.
Brazilian President Luiz Inacio Lula da Silva, whom Carney met on the sidelines of the summit, characterized the funding as investments that will yield a profit rather than “donations, money for free.”
Carney later said he expected further talks with Brazil, noting that Brazil is part of the Mercosur trade bloc that Canada is negotiating with, and he referenced plans to discuss economic co-operation by May.
Carney is now en route to Cambodia for a summit of the Francophonie, and the government said he will also attend the Asia-Pacific Economic Co-operation summit in China later this week.
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