Issue Deep Dive
Canada / Agriculture
Last updated: October 12, 2023
Canada aims to enhance WEE and promote green growth through its investments in agriculture.
The 46% increase in funding for agriculture between 2019 and 2020 was driven by enormous growth in earmarked funding to multilateral organizations. This growth may be related to the Canadian government’s commitments to agriculture as part of its effort to temper the impacts of the COVID-19 crisis on global agriculture systems and food security. Growth in 2021 was minor relative to 2020, but the trend line remained consistent, reflecting Canada's continued commitment to mitigating global food insecurity.
In Canada’s FIAP, agriculture falls mainly under the action area ‘growth that works for everyone.’ The policy frames food security and agriculture within the larger lens of WEE and gender-inclusive climate change mitigation. In line with its prioritization of climate-smart agriculture, this sector received the largest share (43%) of Canada’s climate-related commitments in 2021 (see sector: ‘Climate’).
Canada announced funding for several new projects and initiatives in the agriculture sector at the G7 Summit in May 2023 totaling US$360 million. The funding announced by Canada included:
- US$211 million to the High Impact Partnership on Climate Action at the EBRD to help countries build clean and climate-resilient economies;
- US$31 million to the Mirova Gigaton Fund for clean energy and climate-smart projects in emerging markets and LMICs;
- US$74 million through the Canada-International Finance Corporation Facility for Resilient Food Systems to support improved food availability and affordability in LMICs; and
- US$37 million to the Climate Smart Food Systems Fund for loans and technical assistance for up to 30 agricultural small and medium enterprises in LMICs to support climate-smart interventions, climate change adaptation, and resilient food systems.
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