During a press conference from Dubai Friday, Canada’s environment and climate change minister Steven Guilbeault said the window for limiting global warming to the 1.5 C target is closing. However, he added there’s been significant progress since most countries signed the 2015 Paris Agreement, prior to which the globe was on track for 4 C warming. (The Logic)

Talking point: Guilbeault outlined several priorities for Canada at the annual UN climate conference, including pressing other countries to set carbon prices that will discourage emissions, agreeing to phase out unabated fossil fuels, and pushing for more climate finance. Earlier in the day, Canada committed $16 million to a loss and damage fund to help countries in the global south cope with the impacts of climate change. It follows the long-delayed US$100 billion in climate finance commitments from wealthier nations to developing countries. The private sector is also ramping up financing to fight climate change. The UAE’s president announced a US$30-billion climate fund Friday, with backing from global asset managers including BlackRock and Toronto-based Brookfield.