Foreign-aid and climate advocates say Ottawa needs to do much more to help developing countries brace for climate chaos without going broke
, after Canada’s uninspiring contribution to a summit last month that aimed at reforming global finance.
Caroline Brouillette, the head of Climate Action Network Canada, said the multilateral development banks aren’t working in the face of “converging climate and debt crises.”The federal Liberal government says it supports the reform of international financial institutions and Foreign Affairs Minister Mélanie Joly highlighted the issue to the United Nations General Assembly last September.
Canada sent International Development Minister Harjit Sajjan to Paris, instead of Trudeau, Joly or Finance Minister Chrystia Freeland. The letter was signed by U.S. President Joe Biden, as well as the leaders of South Africa, Brazil, Senegal and all G7 countries except Italy and Canada. The signatories are part of the steering committee that worked together to launch the summit, which Canada was not involved in either.
Jean-François Tardif, a researcher with Results Canada, said he was hoping Canada would have announced something in Paris about the actual topic at hand, which is the reform of multilateral develop banks.A Global Affairs Canada news release said that while in Paris, Sajjan raised the need for “a new feminist financial architecture” and a mix of public and private investment to reverse the backsliding on the Sustainable Development Goals.
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