Philippines calls for ‘needs-based’ priority system for climate finance - BusinessWorld Online

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THE Environment Secretary called access to climate finance an urgent matter and pressed the government to work towards international agreements that will unlock funding to help address the climate “emergency” faced by developing countries.

“Without global transformation and adequate financial resources dedicated to solving the climate change problem, which has reached emergency status, any agreement will be meaningless,” Department of Environment and Natural Resources Secretary Maria Antonia Y. Loyzaga said in a statement issued by the Climate Change Commission .

“Urgent delivery of needs-based climate finance on loss and damage is crucial to transformative climate actions by at-risk developing nations. Gone are the days of empty commitments, now is the time to implement, to deliver action with results,” CCC Vice Chair and Executive Director Robert E.A. Borje said.

Mr. Borje said President Ferdinand R. Marcos, Jr. has declared climate change a priority and expressed his support for climate-mitigation efforts. Mr. Borje called for pragmatic solutions, noting that the Philippines is expected to be one of the countries bearing the brunt of the climate crisis.

 

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