PHL climate negotiators in Paris: Give us grants, not additional debt
Money to fund adaptation programs for climate change in developing nations should not be in the form of loans, which will create additional financial burden, Philippine representatives to the ongoing climate talks in Paris, France said Thursday.
Alicia Ilaga, lead negotiator for adaptation and director of the Climate Change Office of the Department of Agriculture, said they want the Paris agreement to reflect that adaptation finance must be based on grants.
“Assistance for infrastructure improvement, the relocation of communities to places that are safer, requires money. We shouldn’t have to be subjected to having more debt from the international community to get that help,” Ilaga said.
The UN Framework Convention on Climate Change 2007 report on “Investment and Financial Flows to Address Climate Change” projected that developing countries would need US$28 billion to US$67 billion annually by 2030 for adaptation.
The maximum projection of US$67 billion is more than half of the $100 billion to be provided under the Green Climate Fund, the main funding mechanism for mitigation and adaptation initiatives in developing countries.
Ilaga said financing for adaptation to climate change should not come in the form of loans as this will make it harder for developing countries, like the Philippines, to access funds.
She said funding for adaptation should not be seen as additional costs but as investment to make mitigation also more effective.
On the part of the Philippines, Ilaga said it is in the process of completing its national adaptation plan or the set of identified priorities where funds will be allocated to.
The Climate Vulnerable Forum (CVF), a coalition of 43 middle-sized economy and small-island developing countries headed by the Philippines, earlier pushed for nations to reduce their greenhouse gas emissions to below 1.5°C.
By Kathrina Charmaine Alvarez/JST, GMA News
December 04, 2015