OTTAWA (Pakistan Point News / Sputnik - 15th July, 2022) The Canadian government will allocate C$4.5 million ($3.4 million) to assist Pacific Alliance member countries Mexico, Peru, Chile and Colombia in developing better climate measurement and reporting systems, the Federal environment agency said in a statement on Thursday.
"Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change (Canada), met with Mexico's Environment and Natural Resources Secretary, Maria Luisa Albores Gonzalez, and announced $4.5 million, over four years, to support Pacific Alliance countries - Mexico, Peru, Chile and Colombia - in strengthening their national climate measurement, reporting, and verification (MRV) systems," the statement said.
The decision was made during the North American Commission for Environmental Cooperation's 29th annual Council Session meeting in Merida, Mexico, attended by the environment ministers of Canada, Mexico and the United States.
Environment and Climate Change Canada expects the funding to the Pacific Alliance will help ensure the four countries develop their MRV systems and help them track their emissions to adapt their climate initiatives.
"Our commitment in the Pacific Alliance will provide new tools and help national and local governments build capacity to establish effective and efficient climate measurement, reporting, and verification (MRV) systems to set mitigation priorities and attract the financing needed to implement their Nationally Determined Contributions (NDCs)," Guilbeault said in the statement.
The Pacific Alliance MRV program, the release added, will be implemented by the nonprofit Gold Standard Foundation, who will assist in measuring progress toward the Nationally Determined Contributions under the Paris Agreement.
In 2021, the Canadian government said it was pledging twice its current financial support to climate change initiatives agreed to in the Paris Agreement. $4 billion were to be invested over a period of five years in different areas including renewable energy, new technologies and initiatives for smart agriculture and food systems, among others, according to the release.
