December 14, 2009

Plan includes stricter emissions reductions and immediate “climate debt” bailouts for most affected countries

COPENHAGEN, Denmark — In a major development coming three days before the final round of UN climate change negotiations in Copenhagen, and responding to the recent concerns expressed by the G77 bloc of countries, Canada’s Attaché for Environment and Planning announced today an ambitious plan for a new climate change framework that answers vital concerns voiced by developing nations.

Dubbed “Agenda 2020,” the plan sets strict new emissions-reductions guidelines for Canada and fast-tracks financing for vulnerable countries beginning in 2010.

“Today the G77 has again made their voice very clear,” said Jim Prentice, Canada’s Minister for the Environment. “This policy is our answer. Long in discussion, and slated for release later this week, Agenda 2020 is Canada’s commitment to a science-based approach to climate change, and our way to assert our partnership with the developing world.”

Agenda 2020 sets binding emissions reductions targets of 40% below 1990 levels by 2020 and at least 80% by 2050, in line with the recommendations of the Intergovernmental Panel on Climate Change (IPCC) and approaching the levels demanded by the African Group (link). The plan also introduces a new instrument, known as the “Climate Debt Mechanism” (CDM), committing Canada to much-needed funding to those developing countries facing the most dire consequences of climate change. CDM payments will begin with 1% and rise to the equivalent of 5% of Canada’s GDP annually by 2030.

“We believe all people will benefit from an equitable climate deal that truly energizes the world economy,” said Prentice.

The initial 2010 CDM outlay (representing 1% of Canada’s GDP, or $13 billion) will be allocated to the African countries for emissions-reduction strategies and alternative-energy development programs. Payments will also finance resilience-building projects in specific communities already facing the results of climate change or threatened with its most dire consequences.

The CDM is the world’s first financial mechanism that truly addresses the rising costs of climate change in developing countries. It follows a November announcement from Canada and its Commonwealth partners committing $10 billion to climate change adaptation for vulnerable countries (link). By providing quick access to adaptation finance, the CDM builds on this commitment and takes the global lead in supporting vulnerable countries. CDM payments will be completely separate from pre-existing development assistance and will be considered to be payments in a balance of trade.

“Canada is taking the long view on the world economy,” said Prentice. “Nobody benefits from a world in peril. Contributing to the development of other nations and taking full responsibilities for our emissions is simple Canadian good sense. We want to show the world that Canada is a leader on climate change.”

The full details of the CDM framework will be released when Prime Minister Stephen Harper attends the high-level session of the Copenhagen climate talks this Wednesday.

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Patrice Dumont
Asst. Press Secretary
Office of the Minister of the Environment

Media Relations
Environment Canada
888-349-7068 ext 101

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Before you get all excited…

This sounds sort of unlikely, doesn’t it? After all, Stephen Harper, the Prime Minister of Canada, is not exactly a friend of the environment. All that tar sands money is just too tempting for this guy. Sooo… I’m guessing this is a Yes Men thing.

Gotta love ’em.