Canada Pledges $2 Billion to Combat Climate Change in Developing Nations

Canada is determined to fight climate change in developing nations. Prime Minister Justin Trudeau revealed on Friday at the Commonwealth summit in Malta that as a sign of its commitment, Canada will pledge C$2.65 billion or $1.98 billion over the span of five years.

"Canada is back and ready to play its part in combating climate change, and this includes helping the poorest and most vulnerable countries in the world adapt," Trudeau said.

The funding is a part of an agreement that Canada made back in 2009 when it agreed to work with developing nations by spending $100 billion per year by 2020.

The money will mainly be used to help countries, particularly the poorest ones, make the transition to low-carbon economies, Reuters reported. Aside from funding, Trudeau will be working on a goal with the provinces in Canada.

"The reality is that climate change is going to affect those most vulnerable, particularly those living in developing nations, far greater than it is going to affect us here in Canada, the United States and Europe," MP Peter Schiefke said to CTV's Power Play. "We would rather invest now ... than to basically be on the hook for tens of billions of dollars 20, 30 years down the road when these countries are calling on Western countries."

Trudeau will not, however, change the nation's greenhouse emissions target, which was set by the former conservative Prime Minister Stephen Harper.

"Canadians who voted for change are disappointed to learn that Prime Minister Trudeau will go to Paris with the same targets as former Prime Minister Harper," the New Democratic Party leader Thomas Mulcair said.

Ed Fast was also critical of the amount of money that Trudeau is wiling to spend outside of Canada.

"Questions such as who's paying for this $2.65 billion that is going to be spent outside of Canada? I think we all know the answer to that. It's taxpayers," the conservative said. "Those funds could be better invested here in Canada."

Next up for Trudeau is the United Nations environmental summit, which is taking place in Paris next week.