CANADIAN Environment Minister Steven Guilbeault supports a maritime greenhouse gas as countries gather in Azerbaijan to discuss ways to raise billions to address climate change, reports the canadian Press.
Speaking to reporters by phone from Baku, where this year's annual United Nations climate talks are taking place, Mr Guilbeault called for private sector banks and other financial institutions to help close what the Canadian government believes is a yawning, US$2 trillion shortfall in annual funding for developing countries to address climate change under the 2015 Paris Agreement.
To help rally more funding, Mr Guilbeault said Canada is putting up $160 million to launch a new fund - called GAIA - that will finance projects to slash emissions and help lower-income countries adapt to the damages of climate change, including small island states in the Caribbean.
The fund will include direct grants and long-term loans, with a goal of rallying $2 billion from governments and private sources, he said.
SeaNews Turkey
Speaking to reporters by phone from Baku, where this year's annual United Nations climate talks are taking place, Mr Guilbeault called for private sector banks and other financial institutions to help close what the Canadian government believes is a yawning, US$2 trillion shortfall in annual funding for developing countries to address climate change under the 2015 Paris Agreement.
To help rally more funding, Mr Guilbeault said Canada is putting up $160 million to launch a new fund - called GAIA - that will finance projects to slash emissions and help lower-income countries adapt to the damages of climate change, including small island states in the Caribbean.
The fund will include direct grants and long-term loans, with a goal of rallying $2 billion from governments and private sources, he said.
SeaNews Turkey
