Tag

Indigenous Peoples

Browsing

Deputy Prime Minister and Minister of Finance Chrystia Freeland yesterday released Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable (Budget 2022). This bulletin outlines key climate, energy, and Indigenous highlights from Budget 2022, part of total new spending of $31.2B, which includes: A proposal to establish the Canada Growth Fund (initial investment of $15B over five years), directly targeted at reducing emissions and enabling the transition to a low-carbon economy. Confirmation of the government’s intention to establish a refundable investment tax credit for carbon capture, utilization and storage (CCUS) projects to the extent that they permanently store captured CO2 through an eligible use. Plans to engage with experts on establishing an investment tax credit of up to 30 per cent, focused on net-zero technologies, battery storage solutions, and clean hydrogen. Support for the co-development of an Indigenous Climate Leadership Agenda to support self-determined action in addressing Indigenous Peoples’ climate priorities. Climate Budget 2022 includes new and proposed funding supporting important climate action, as follows: Canada Growth Fund. Budget 2022 proposes establishing the Canada Growth Fund, with an initial $15B investment over the next five years and the aim of attracting substantial private sector investment supporting the following economic policy goals: reduce emissions and contribute to achieving Canada’s climate goals; diversify the economy and bolster exports by investing in the growth of low-carbon industries and new technologies across new and traditional sectors of Canada’s industrial base; and support the restructuring of critical supply chains in areas important to Canada’s future prosperity—including our natural resources sector. Clean technology. Budget 2022 proposes the following new clean technology funding and investments: engage with experts to establish an investment tax credit of up to 30 per cent, focused on net-zero technologies, battery storage solutions, and clean hydrogen; provide $2.2B over…

The recently launched Peoples Forests Partnership (the Partnership), aims to secure commitments to mobilize $20 billion per year by 2030 to Indigenous Peoples, traditional owners, and local communities (IPLCs) for community-based tropical forest conservation and restoration projects in the Global South. Facilitating members of the Partnership include Forest Trends, RECOFTC, Wildlife Works Carbon, Everland, and Green Collar. This Partnership could help reduce 2 billion tonnes of CO2 emissions from deforestation each year, protect 500 million hectares of threatened tropical forest, and support livelihoods and bioeconomy development for over 50 million people in forest communities.    The Partnership was launched last year during the COP 26 conference in Glasgow, following an announcement of funding of $1.7B for IPLCs pledged by Norway, UK, US, Germany, and the Netherlands. The funding, to be provided through 2025, will support the capacity of IPLCs to govern themselves collectively, assist with mapping and registration work, back national land reform, and help resolve conflict over territories.   The Partnership will support performance-based payments, such as carbon credits, and other climate funding mechanisms, including a financing facility specifically focused on strengthening territorial governance to be managed by Forest Trends. The Partnership is organized around two governing principles (i) forest communities are essential conservation partners; and (ii) community-based, values-driven climate and conservation finance projects have the potential to create a future with forests that aligns with forest community rights to their territories, economic self-determination, and cultural traditions.   Facilitating members represent a collective portfolio that includes: over 250,000 Indigenous and other forest community members receiving direct market finance in recognition for protecting forests; ​over 2 million hectares of tropical forests with active climate finance projects; financing already in place for a portfolio of community-based forest conservation projects that will deploy $2 billion in private investment and stop 200 million tonnes of deforestation emissions…