Antalya; November 2026: Julie Dabrusin, Canada’s Minister of the Environment, Climate Change and Nature, and Katie White, OBE MP, the United Kingdom’s Minister of State (Minister for Climate Transition), issued the following statement at COP31 in Antalya, Türkiye:
“Two years ago, at COP29, Parties agreed to the New Collective Quantified Goal (NCQG), which called for climate finance to developing countries to be scaled up to at least US$1.3 trillion annually by 2035 from all sources, with developed countries to take the lead on mobilising at least US$300 billion per year for developing countries by 2035. The NCQG acknowledges that the scale of the challenge requires all actors and sources of finance to work together, including the private sector”.
“Canada and the United Kingdom remain steadfast in advancing all quantitative and qualitative aspects of the NCQG and continue fulfilling our commitments under Article 9 of the Paris Agreement, including the provision of financial resources in line with Article 9, paragraph 1. The NCQG provides the framework for implementing these commitments, including the COP30 call for efforts to triple adaptation finance by 2035. We are committed to our leadership under the NCQG, and that is why we are proud to have announced multiyear, renewed climate finance goals this year”.
“Since 2015, Canada has delivered over CAD$14.3 billion in international climate finance. This support is expected to reduce or avoid nearly 658 megatons of global emissions by 2050 and help 40.2 million people in developing countries adapt to climate impacts. In April this year (2026), Canada set a new goal to deliver over CAD$13 billion in climate-related support to developing countries over the next five years. This will combine public grants and concessional loans; climate finance delivered through multilateral development banks; funds deployed by FinDev Canada; and private capital mobilisation. In 2026, Canada has been proud to announce CAD$219 million for the Global Environment Facility’s ninth replenishment, CAD$7.5 million for the Pacific Resilience Facility, and a further CAD$116 million in new climate finance projects announced this week”.
“Since 2011, UK International Climate Finance has supported 159 million people to better adapt to the effects of climate change, reduced or avoided 201 million tons of greenhouse gas emissions, seen an estimated 21.5 million hectares of land managed more sustainably, and mobilised an estimated £26 billion in public and private finance combined. In line with our commitments, the United Kingdom delivered £12.8 billion in international climate finance between 2021–2022 and 2025–2026. This included maintaining a balance between mitigation and adaptation, tripling funding for adaptation, and the £3 billion nature sub-target. The United Kingdom has now announced around £6 billion of international climate finance official development assistance (ICF ODA) over the next three years, the majority of which is to be provided as grants, alongside £6.7 billion in public finance through United Kingdom-backed climate and nature-positive, non-official development assistance investments. The United Kingdom supports partners deploying this funding in the most effective ways, including in support of its ambition to use public finance to catalyse billions more from the private sector. In recent months, the United Kingdom has announced £400 million for the Tropical Forest Forever Facility, £330 million for the Global Environment Facility’s ninth replenishment, and £10 million for the Pacific Resilience Facility”.
“Mobilising accessible ocean finance is a shared priority ahead of the Our Ocean Conference in Canada next year, as demonstrated by £27 million of new UK Blue Planet Fund investment announced in 2026, and Canada’s announcement of CAD$14 million for the Ocean Risk and Resilience Action Alliance (ORRAA)”.
“We further welcome today’s collective announcement by our respective development finance institutions, FinDev Canada and British International Investment (BII), along with Norway’s Norfund, that they intend to collaborate more closely on climate finance with a view to collectively mobilising US$10 billion by 2030”.
“Investing in climate action is a moral imperative and an economic necessity that benefits us all. Climate action goes hand in hand with energy security and economic growth. Well-designed resilience measures not only save lives but reduce future losses; support security, economic growth, and fiscal stability; and generate wider social and environmental benefits the world over.
“We are committed to deploy our public finance strategically in ways that maximise impact, tackle long-standing challenges, and catalyse further investments, including in partnership with the private sector. A global effort is the only way to unlock trillions. Recognizing the challenging fiscal context, we nevertheless urge all actors, including all countries in a position to do so, to invest in ambitious climate action with us”.
“In addition, and complementary to public and mobilised finance, we must work together to progress practical reforms that increase the volume, effectiveness, and accessibility of development and climate finance, in particular for the poorest and most vulnerable. This includes reform of the multilateral development banks and multilateral climate and environment funds, greater mobilisation of private capital, and an international finance system that can move faster and more responsively to country needs. We look forward to work together, investing in our joint climate ambition, and delivering for developing countries”.
Team Maverick.
