3rd November 2021

PRIME MINISTER TRUDEAU ANNOUNCES SIGNIFICANT COMMITMENT TO ORRAA

Glasgow – 3 November 2021 – The Prime Minister of Canada Justin Trudeau has announced a significant commitment to the Ocean Risk and Resilience Action Alliance (ORRAA).

The backing comes with a $9m financial boost which will be focused on supporting the Alliance’s ongoing work in Small Island Developing States and coastal developing countries.

“Canada recognizes that, to achieve maximum results, our actions to protect and conserve nature and our efforts to mitigate and adapt to climate change must be closely aligned,” the Government of Canada said in a statement.

“Nowhere is this truer than in the oceans. That is why today, the Prime Minister announced $9 million in additional support for the Ocean Risk and Resilience Action Alliance, to support their ongoing work helping Small Island Developing States and coastal developing countries increase their resilience to the impacts of climate change through nature-based solutions.”

The Government of Canada provided the initial financial support which established ORRAA, the aim of which is to drive $500 million of investment into nature-based solutions by 2030, and surface at least 50 novel finance products by 2030, positively impacting the resilience of at least 250 million people in coastal areas around the world.

Karen Sack, Executive Director and Co-Chair of ORRAA said: “This ongoing commitment by the Prime Minister and the Government of Canada is really important. It is a testament to the progress we have made but it also enables us to accelerate our mission, especially when it comes to building resilience in Small Island Developing States and coastal Least Developed Countries.”

 

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Notes to Editors:

About The Ocean Risk and Resilience Action Alliance (ORRAA)

The Ocean Risk and Resilience Action Alliance. ORRAA, brings together the finance and insurance sectors, governments, non-profits, and stakeholders from the Global South to pioneer finance and insurance products that incentivise investment into nature-based solutions, with a focus on protecting the regions and communities that need it most. Our aim is to drive $500 million of investment into nature-based solutions by 2030, and surface at least 50 novel finance products by 2030, positively impacting the resilience of at least 250 million people in coastal areas around the world.

www.oceanriskalliance.org

For more information, please contact rishi@impactandinfluence.global or nicola@impactandinfluence.global

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