Indigenous peoples have been stewards of our natural environment since time immemorial. Conserving and restoring nature through Traditional Knowledge and Indigenous Science is fundamental to addressing the twin crises of climate change and biodiversity loss.
Climate change is altering the water cycle, resulting in flooding, droughts, and wildfires. It is also one of the key drivers of biodiversity loss. Conserving and restoring nature are important ways for mitigating and adapting to climate change. Canada is committed to implementing nature-based solutions to build resilience and help meet the country's 2030 and 2050 greenhouse gas emissions reduction targets.
Today, the Honourable Steven Guilbeault, Minister of Environment and Climate Change, announced $5.8 million in funding for 14 Indigenous-led initiatives, as part of the Indigenous-led Natural Climate Solutions initiative. These initiatives are taking place across the country, focusing on building capacity and reducing greenhouse gas emissions, while providing important benefits to support increased well-being and resilience in Indigenous Nations and communities. This includes the initiative of the Cree Nation of Chisasibi in Northern Quebec, where they are training Indigenous land users on best practices for nature-smart climate solutions to complete restoration and enhancement of coastal ecosystems.
The Nature Smart Climate Solutions Fund is a $631 million, 10-year fund to support projects that conserve, restore and enhance wetlands, peatlands, grasslands, and forests, in order to store and capture carbon. Of this amount, up to $36.9 million is allocated to provide targeted support for Indigenous peoples through the Indigenous-led Natural Climate Solution funding stream. Of course, Indigenous organizations can also submit applications directly to the Nature Smart Climate Solutions Fund, like the Stqeeye' Learning Society's Indigenous-led, 5-year funded initiative at Burgoyne Bay on Salt Spring Island in British Columbia, to protect and increase the carbon sequestration of local forests and wetlands and help increase the quality of wildlife habitat.
Countries from around the world are in Montreal for the 15th United Nations' Convention on Biological Diversity (COP15), where Canada continues to demonstrate a strong leadership role in biodiversity and nature conservation. Along with international partners, Canada is championing both the development of an ambitious post-2020 Global Biodiversity Framework with clear targets and actions, as well as the important role Indigenous Knowledge plays in our efforts to conserve and protect biodiversity and natural environments at home and around the world.
