In a significant stride towards combating the perils of climate change, the Philippines, under the leadership of President Ferdinand Marcos, Jr., has earned commendation from the Climate Change Commission (CCC) for its approval of additional climate adaptation projects through the People’s Survival Fund (PSF). This move, seen as a demonstration of transformative climate action, not only reinforces the nation’s commitment to environmental responsibility but also sets a remarkable example for the global community.
The allocation of over PHP 541 million for six new climate adaptation initiatives underscores the Marcos administration’s dedication to proactive governance and fortifying the nation’s adaptive capacity in the face of climate change. President Marcos rightly emphasizes that the PSF and its funded projects serve as a crucial safeguard for the Philippines as it navigates the challenges of climate change, showcasing the country as a trailblazer in domestic climate finance for adaptation.
The approval of these projects sends a powerful message about the Marcos Administration’s ability to mobilize critical domestic resources, particularly at the local and community levels. At a time when climate change poses immediate and urgent challenges, the Philippines is demonstrating that it can unlock public domestic climate finance to protect vulnerable and at-risk communities.
According to CCC Vice Chairperson and Executive Director Robert Eric E.A Borje, the approval of these projects signifies the nation’s commitment to advancing adaptation measures, emphasizing the need for urgent actions. The Philippines is putting its money where its mouth is, unlocking domestic climate finance to serve the interests of its most vulnerable communities.
The newly approved projects cover a range of initiatives, from boosting agricultural and fisheries sectors in Mountain Province to drainage systems and agroforestry development in Bukidnon. The emphasis on localized projects reflects a nuanced understanding of the diverse impacts of climate change across the archipelago.
As the Philippines gears up for the 28th Conference of Parties to the United Nations Framework Convention on Climate Change (COP28), President Marcos is poised to rally the global community to honor their commitments, particularly in climate financing. This underscores the nation’s leadership role in the international fight against climate change.
President Marcos’s call for developed countries to do more is grounded in the belief that if a developing nation like the Philippines can unlock significant public domestic climate finance, then developed nations must fulfill their commitments under the UNFCCC and the Paris Agreement.
The President’s message at the ceremonial turnover of PSF Board Resolutions in Malacañang reaffirms the government’s unwavering support for climate-related projects. He emphasizes the importance of successful implementation, assuring the beneficiaries that the national government stands ready to provide guidance and assistance.
Marcos also places the Philippines’ efforts in the global context, acknowledging its vulnerability to climate change. He urges the nation to lead the way in supporting vulnerable communities worldwide, demonstrating that the Philippines is not only addressing its own challenges but also taking a proactive role in global climate action.
The establishment of the PSF under Republic Act No. 10174 exemplifies the Philippines’ commitment to addressing climate change through adaptation programs and projects. The CCC’s streamlined approach in reviewing and approving PSF projects reflects a commitment to efficiency and transparency, ensuring that climate finance is effectively utilized.
The Philippines, under the leadership of President Marcos, is making significant strides in climate action, unlocking the power of domestic climate finance to fortify the nation against the impacts of climate change. This pioneering move sets a commendable example for other nations and emphasizes the importance of fulfilling commitments to global climate goals. As the Philippines prepares to take the stage at COP28, it stands as a beacon of climate leadership, ready to inspire and rally the global community towards a sustainable and resilient future.