THE United Nations Development Programme and the Department of Finance will develop a comprehensive strategy for climate finance in the Philippines with the aim of helping consolidate financing solutions for climate change action in the country.
“The effects of the recent typhoons remind us of why Sustainable Development Goal no. 13 or Climate Action is urgently needed in the Philippines. Aside from adaptation and mitigation measures across infrastructure, industry, agriculture, energy, and transportation, the climate crisis also demands financing to make all these actions possible,” UNDP Philippines Resident Representative Selva Ramachandran was quoted in the statement as saying.
“All these financing projects are commitments to empower the local government units and the national government agencies to stand on the forefront of climate action. We look forward to identifying possible needs to bridge the gaps in our shared financing requirements to implement our climate action through a whole-of-nation approach,” said Maria Luwalhati Dorotan Tiuseco, DOF Undersecretary for Climate Finance Policy Group .
“This year, the UK FCDO identified that finance for climate action is a key pillar in our partnership with the Philippines, where increasing the quantity, quality and accessibility of financing is a priority.