The Climate Change Commission, led by Vice Chairperson and Executive Director Robert E.A. Borje, participated in a high-level discussion on blended finance for adaptation projects in the Philippines.

MANILA, Philippines – The Climate Change Commission (CCC) emphasized the importance of broad stakeholder involvement in blended climate finance for adaptation projects during a high-level roundtable discussion at the Bangko Sentral ng Pilipinas (BSP).

The CCC recognized the need for the country’s enhanced adaptation practices, being one of the most at-risk nations to disasters. This makes adaptation the top priority of the government’s climate agenda.

Vice Chairperson and Executive Director Robert E.A. Borje of the CCC underscored the importance of convening the full spectrum of stakeholders to plan and implement adaptation projects.

“This discussion is vital toward effective climate finance for adaptation. As the crisis worsens and affects our communities, we need to address it through a whole-of-society approach, involving every sector in our strategy for blended finance,” said Borje.

Borje highlighted the need to institutionalize a regular dialogue mechanism for climate finance stakeholders to strengthen coordination and sustain engagement.

He also stressed the inclusion of the finance sector in mobilizing resources for the National Adaptation Plan (NAP), particularly in developing its financing strategy and in updating the plan to reflect emerging priorities and needs.

The NAP was developed under the leadership of President Ferdinand R. Marcos Jr., aligned with his vision for a climate-smart and climate-resilient Philippines.

Borje emphasized that institutionalizing coordination and involvement of broad stakeholders allows for the integration of diverse perspectives and collaborative approaches toward effective climate finance.

The roundtable discussion was attended by high-level representatives from government, financial institutions, loan and grant providers, private enterprises, and other funders and investors in a focused multi-stakeholder discussion. It aimed to identify concrete next steps to advance the blended finance ecosystem in the Philippines.

This formed part of a two-day forum on blended climate finance organized by the BSP, which aimed to identify concrete next steps to strengthen the country’s blended finance ecosystem.

The CCC recognized BSP's initiative in convening this multi-sectoral platform to advance collaboration on climate finance for adaptation, while also strengthening coordination mechanisms to align efforts in mobilizing climate finance.

For more information on the CCC’s climate mainstreaming activities, visit www.climate.gov.ph and www.facebook.com/CCCPhl.