Investment in long-term climate resilience
In Spring 2024, GMF will launch its new Local Leadership for Climate Adaptation (LLCA) initiative. The initiative will provide funding and skills development support to local governments to adapt and build long-term resiliency to the impacts of climate change. By 2031, this $530M initiative will fund more than 1,400 municipal activities. Every dollar invested in adapting to climate change, and protecting Canadians against climate disasters, can save as much as $13-15 in economy-wide future costs (according to the Canadian Climate Institute, 2022).
The soon to launch initiative is made possible with generous support from the Government of Canada. GMF is a key partner supporting the delivery of the Government of Canada Adaptation Action Plan (GOCAAP).
Three tracks to support climate adaptation
LLCA will be implemented in three tracks that support local government climate adaptation:
Climate-Ready Plans and Processes – Supporting local governments in assessing the climate risks facing their communities, and integrating adaptation responses into municipal plans, processes and management systems, such as asset management and land use planning.
Adaptation in Action – Funding municipal projects that deliver immediate reductions in the risks posed by climate change impacts, with a particular emphasis on supporting equity-deserving and marginalized communities.
Financing Adaptation – Testing new resilient infrastructure financing models to diversify the funding opportunities available to local governments.
New funding, training and resources for and local governments
LLCA will provide funding, training and resources that span the capacity-plan-implement spectrum, supporting municipalities at all stages of maturity from building skills and knowledge, creating plans, through to implementing projects. This will include:
- Funding for hazard, vulnerability and risk assessments, climate adaptation plans, staff costs and projects to integrate climate risk in infrastructure funding systems;
- Funding for adaptation projects involving either infrastructure, operations, or systems that prioritize nature-based solutions;
- Grants and concessional financing to de-risk new models that secure private sector financing to municipal adaptation projects; and,
- Opportunities to work with partner organizations and enable knowledge sharing which will ensure local governments can learn from each other and sector experts.
If you have feedback or questions related to the new climate initiatives, please contact gmfinfo@fcm.ca
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