Target 19 of the KMGBF commits developed country Parties to raise at least US$20 billion annually by 2025 and US$30 billion annually by 2030 for developing countries. Based on Canada’s 2% share of global GDP, Canada’s obligation would be US$400 million annually by 2025 and US$600 million by 2030 (approximately CAD $540 million and CAD $810 million, respectively). Canada’s current investments in international biodiversity are approximately $370 million annually. This includes Canada’s contributions to the Global Environment Facility, the biodiversity-related portion of its climate finance, bilateral aid, and the commitment announced at the UN Convention on Biological Diversity COP15 in Montreal to spend an additional $350 million over three years.
The Green Budget Coalition applauds Canada’s increased investment and commitment to international biodiversity. However, preventing further loss and degradation of tropical ecosystems is vital for biodiversity as well as climate change adaptation and mitigation. Canada’s migratory birds are being impacted by habitat loss at their wintering areas and migration stopovers in Latin America.
To immediately address threats to biodiversity, Canada should seek efficient ways for funds to directly support on-the-ground conservation efforts by local NGOs and Indigenous and local communities. Conservation organizations that partner with Indigenous people—key conservation allies in developing countries—are achieving conservation gains on a large geographic scale. Similarly, gains can be made in empowering local communities for forest management and fisheries co- management with governments.
Other actions can address policy issues impacting biodiversity, bring improvements to commodity supply chains, help create national conservation strategies, and perhaps include debt-for-nature swaps. Finally, the widespread and serious problem of “paper parks” can be addressed through contributions from Canada to finance mechanisms for public protected areas.
Recommended Investment: $1.2 billion over two years [GAC, ECCC]
For a more detailed recommendation, including regarding the $1.2 billion amount, please see https://icfcanada.org/docs/GBC_intl_biodiversity_ Budget-2024.pdf