THE Climate Change Commission (CCC) said it will push for the creation of global funding for climate adaptation during the 28th United Nations Climate Change Conference (COP28) in the United Arab Emirates (UAE) next month.
CCC Vice Chairperson and Executive Director Robert E.A. Borje said the measure will be on top of the Loss and Damage Fund (LDF), which was discussed during the COP last year.
He noted LDF was a “reactive” approach for countries, which have already suffered from the effects of climate change such as rising sea levels, prolonged droughts and super typhoons.
“Basically, it is for rehabilitation and construction. What we want is preventive adaptation,” Borje said in a recent press conference.
This will help shift the perception of low-emission states from being just mere victims to victors, when it comes to adapting to the effects of climate change, he added.
The CCC official said the strategy is currently being used by the government through its People’s Survival Fund (PSF).
Established under Republic Act No. 10174, the fund, with an initial P1-billion capitalization, aims to help local government units (LGU) and accredited local and community organizations implement measures to help boost the resilience of communities and ecosystems from the impact of climate change.
The PSF Board led by the Department of Finance has approved P887.63 million worth of adaptation projects.
Of the around 50 pending PSF applications, five are in the final stages of processing, according to CCC Commissioner Albert Dela Cruz.
He stressed the importance of such projects since LGUs are at the forefront of the impact of climate change.
CCC is now working with the PSF board on how to make its funds more accessible.
Borje said a similar global mechanism will help accelerate similar initiatives.
During COP28, participating countries are expected to discuss the form of the fund, as well as which countries should fund it and benefit from it.
“We believe there is still more work that needs to be done [for the creation of the fund]. It is a question of funding, making sure it is easily accessible. We say that because there have been serious issues on the global funding mechanism for climate change,” Borje said.
But while the mechanisms are still under discussion, Borje said they also engaged in bilateral talks with partner agencies and development partners for the said adaptation measures.
“We have a list of bilateral partners, but we can’t give it out yet since it contains those [projects] in the pipeline, including those which are committed and implemented. These are being vetted by the DOF and the Neda [National Economic and Development Authority],” Borje said.
When asked if President Ferdinand R. Marcos Jr. will participate in COP28, Borje said they will let Malacañang make the announcement on the matter.
He said the chief executive’s participation in the event will strengthen the country’s position on climate change in the international event.
A of press time, the Palace has yet to issue a statement if Marcos will attend the event or not.