July 05, 2023 Wednesday
CCC Commissioner Rachel Anne S. Herrera presents key collaboration areas for driving climate action and sustainable development at the "Philippines Country Partnership Strategy Consultation: High-Level Dialogue on Financing Climate Action" organized by the Asian Development Bank (ADB)
MANILA, 5 July 2023 — The Climate Change Commission (CCC) underscored the significance of partnerships between the Philippine government and multilateral support in driving impactful climate action and sustainable development.
CCC Commissioner Rachel Anne S. Herrera presented key areas of collaboration for engaging climate finance at the "Philippines Country Partnership Strategy Consultation: High-Level Dialogue on Financing Climate Action" organized by the Asian Development Bank (ADB).
Commissioner Herrera expressed her appreciation for the ADB's sustained support to the Philippine Government, which has mobilized $3.9 billion in climate finance between 2018 and 2022 under the Country Partnership Strategy (CPS).
This support has been instrumental in the development of a comprehensive policy program that accelerates the formulation and implementation of the Philippine Nationally Determined Contribution, National Adaptation Plan, and Long-Term Strategy for greenhouse gas emission reduction pathways. It has also facilitated flagship mitigation investments in low-carbon transport and key adaptation programs, particularly in flood risk management.
“The times call for a strong mechanism to mobilize resources, and formulate strategies, to be implemented at the pace and scale needed,” Herrera said.
Commissioner Herrera shared three major areas of collaboration with the ADB during the dialogue, starting with the need to formulate and institutionalize climate policies that are forward-looking, innovative, and transformative, anchored on the best available science and indigenous and local knowledge.
“Grounded on our joint efforts with national government agencies and other stakeholders, we are committed to advancing enabling policies for investment-led and transformative climate actions,” she emphasized.
Herrera then called for support to enhance national and local governments’ access to resources to develop fit-for-purpose interventions, especially for adaptation. This was cited in parallel to reforms in multilateral development bank (MDB) practices and priorities that aim to significantly increase climate ambition. Streamlining climate finance processes and strengthening the adaptive capacities of local government units (LGUs) are crucial in attracting investment opportunities and facilitating locally led climate change projects.
Herrera urged partners to develop common indicators for monitoring and evaluating climate change actions that will assess progress and unlock private sector investments.
The CCC is committed to sustained collaboration and partnership with the ADB, to achieve the shared vision of a climate-resilient and sustainable nation and world.
"We express our appreciation to the ADB for bringing key institutional partners together in this dialogue. We hope that we could sustain this momentum in this crucial year and decade of action, and deliver on our commitments for a country and planet that is safe and secure for all," Herrera concluded.
The high-level dialogue, structured into three sessions, tackled crucial aspects of climate action and sustainability:
Session 1, joined by the CCC, National Economic Development Authority, Department of Environment and Natural Resources, and Department of Finance, presented how the ADB can provide support in achieving the Philippines' climate objectives.
Session 2, joined by the Department of Transportation and Department of Energy, focused on strategies to elevate climate ambition and drive sustainable practices in various sectors of the economy.
Session 3, joined by the Department of Agriculture, Department of Health, and Department of Social Welfare and Development, identified priority areas that require immediate attention to strengthen climate resilience, particularly in relation to food security and social inclusion.
The event aims to gather views from key decision-makers to tailor the next cycle of the ADB Country Partnership Strategy (CPS) for 2024-2029, addressing urgent and priority challenges in climate change mitigation and adaptation.
For more information on the Climate Change Commission’s climate mainstreaming activities, visit https://climate.gov.ph and www.facebook.com/CCCPHL.