'Money talks': Federal environment minister calls on businesses, banks to fight climate change | CBC News

Guilbeault spoke about the need to mobilize private international climate capital on Wednesday in Brussels, where he announced that Ottawa is allocating $450 million to the world's largest climate fund —"We need more money, and we need more money from all sources," said Guilbeault.

The $450 million for the Green Climate Fund comes from the $5.3 billion the federal government has earmarked for international climate finance over five years. "We clearly know that there's not enough public money to meet the challenge of fighting climate change or adapting to climate change, which is where the private sector capital mobilization comes into play," Guilbeault said.

Segal said Canadian banks are still investing billions of dollars annually in "climate-damaging activities" like fossil fuel production.

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