Funds for the climate
Published by the Visayan Daily Star
Editor-in-Chief & President
Bureau Chief, Dumaguete
MAJA P. DELY
|CARLOS ANTONIO L. LEONARDIA
Climate Change Commission Secretary Emmanuel de Guzman expressed optimism the Philippines will be able to avail itself of the United Nations backed Green Climate Fund (GCF) next year to finance a number of low-emission and climate-resilient programs in the country.
Launched in 2010 by the UN Framework Convention on Climate Change (UNFCCC), the Fund supports developing countries reduce their greenhouse-gas emissions and enhance climate resilience. The Philippines has yet to tap the fund but with the accreditation of the Land Bank of the Philippines as a conduit entity, Secretary De Guzman is confident the CCC and LBP can come up with good proposals to access the fund and implement those programs.
As the country ranked as fifth most affected by extreme weather events in the world, according to the Global Climate Risk Index 2017, the Philippines will need access to resources as it seeks to implement programs that can enhance climate resilience. In 2015, Manila committed to reduce its emissions by 70 percent by 2030 but it will need technical and financial support to achieve that goal.
The government is now revising the country’s nationally determined contributions (NDCs) for submission to the UNFCCC, hopefully within the year.
“Our NDCs are anchored on conditional support from developed countries because this is climate justice. If we want to transition into a green economy then we have to be supported by the developed countries through the climate funds, green climate funds they are mobilizing,” De Guzman said.
Access to the Green Climate Fund will be welcome and hopefully it gives our government agencies responsible for developing climate resilience no more excuses as they struggle to do their job for the sake of future generations of Filipinos who will be most affected by the impacts of a changing climate.
Hopefully programs we can come up with because of the GCF will not be for compliance only but will have significant and lasting effects on lowering greenhouse gas emissions and enhancing the climate resilience of the country, especially in areas that are most vulnerable to the extreme weather events that are expected to come with climate change.*