The Honourable Karina Gould, Minister of International Development, announced that Canada will contribute up to $55 million to the Land Degradation Neutrality (LDN) Fund, an investment fund initiated by the United Nations Convention to Combat Desertification (UNCCD) to support sustainable land management and land restoration.
This investment is part of Canada’s $2.65 billion climate finance commitment, as well as the G7 Charlevoix Commitment for Innovative Financing for Sustainable Development.
Across the world, climate change is causing extreme and erratic weather. This, in turn, is exacerbating land degradation and desertification, with the most severe impacts affecting people already in situations of poverty and vulnerability, especially women and Indigenous people.
Minister of International Development, Karina Gould said: “The Land Degradation Neutrality Fund is an example of how the public and private sector can invest together in nature-positive solutions and livelihoods in developing countries. Canada is committed to innovative partnerships to tackle climate change and biodiversity loss and create a sustainable future and healthier communities for all.”
Canada’s contribution was highlighted by the Prime Minister, the Right Honourable Justin Trudeau, at the One Planet Summit for biodiversity hosted by France, in cooperation with the United Nations and the World Bank.
During the Summit, political leaders, the private sector, NGOs, and citizens discussed environmental challenges and accelerating funding for climate, biodiversity, and oceans.
Canada is contributing to the LDN Fund alongside other Canadian investors, including the Concordia University Foundation and the Montreal-based labour-sponsored pension fund Fondaction.
Sherbrooke-based project developer Ecotierra is implementing the LDN Fund’s first investment project in coffee cooperatives in Latin America.
Canada’s contribution, once it is finalized, will help to catalyze additional private sector investments in the LDN Fund so it can achieve its mission of restoring degraded land and reducing or avoiding greenhouse gas emissions.
The LDN Fund is also crucial to ensuring that COVID-19 economic recovery efforts support green jobs and sustainable businesses for people who depend on natural resources for their livelihoods.