Climate finance: International business opportunities

On this page

• Opportunities for Canadian companies
• Contact the Canadian Trade Commissioner Service
• Access climate finance
• Canadian successes
• Additional resources

To help developing countries mitigate the effects of and adapt to climate change, significant financing is being offered by public, private and alternative sources, such as bilateral organizations and international financial institutions (IFIs), for local, national and transnational projects around the world.

International climate finance mobilized by public and private actors in developed and developing countries totaled almost USD $1.3 trillion in 2022. This is intended to rise to USD $5-7 trillion a year by 2030 based on a commitment from developed countries made at the 28th Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).

Opportunities for Canadian companies

Climate finance presents growing international business opportunities for Canadian firms across a variety of sectors, such as professional services, clean technologies, infrastructure, agriculture, mining and transportation. By taking on a variety of project roles (e.g. project developer, service provider and technology provider), Canadian firms can enter developing and emerging markets with the support of climate finance.

Although funding opportunities for climate-related projects are numerous, accessing them isn't straightforward. The Climate Fund Inventory database covers 90+ climate funds that vary in scope and size. Our regionally focused climate finance trade commissioners can assist you in navigating these business opportunities by providing you with competitive information, briefing sessions, qualified contacts, visit information and assistance with resolving any problems.

Contact the Canadian Trade Commissioner Service

Climate finance trade commissioners in Canada: tcsclimatefinance@international.gc.ca

Climate finance trade commissioners internationally:

This support is integrated within the Canadian Trade Commissioner Service's network of offices abroad and in Canada, as well as the aid market support network.

Access climate finance

Climate finance is offered by a wide variety of actors in the form of grants, debt financing, risk mitigation (e.g. guarantees, insurance), equity and carbon offsets. Climate finance is available to businesses that deliver goods, works or services for projects related to climate change mitigation (PDF format), adaptation (PDF format) and REDD+ (reduce emissions from deforestation and forest degradation) (PDF format).

Funding is available through bilateral agencies and IFIs that offer public procurement opportunities for Canadian firms. Financing is also increasingly available through private-sector lending windows. For example, the private-sector arms of many IFIs (e.g. the International Finance Corporation) and development finance institutions (e.g. in Canada and in Europe), as well as institutional and private investors, offer climate finance in the form of debt financing, equity investment or guarantees for specific projects.

For an overview of the international sources of climate finance, how to identify and use public and private sector channels, and best practices:

• Overview - Climate finance: International business opportunities
• Project Development Handbook

Information on how to access climate-specific business opportunities for each of the following multilateral development banks and funds:

• Asian Development Bank (ADB)
• African Development Bank (AfDB)
• Green Climate Fund (GCF)
• Inter-American Development Bank (IDB)
• Caribbean Development Bank (CDB)
• World Bank Group (WBG)
• International Finance Corporation (IFC)

Information on a selection of regional-focused climate funds that are accessible to Canadian companies:

• European-focused climate funds accessible to Canadian companies
• Brazilian-focused climate funds for Canadian companies
• African-focused climate funds for Canadian companies
• Asian-focused climate funds for Canadian companies
• Caribbean-focused climate funds for Canadian companies

For more information on the funds highlighted in the reports, in addition to strategies for accessing these funds, please contact our Regional Climate Finance Trade Commissioner.

Canadian successes

Canadian companies demonstrate international leadership in many key sector areas of climate finance, including in renewable energy, consulting services, geomatics, energy efficiency, and agriculture. Here are some examples of Canadian successes abroad:

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Additional resources