Phl co-facilitates global agenda for climate finance

The Philippines took on the role as one of the moderators during the discussions on the global agenda for climate finance and urgent actions needed to bolster assistance to developing countries.

This comes after the country — represented by Climate Change Commission vice chair and executive director Robert Borje — was chosen to co-facilitate and lead the pre-discussion of the agenda for the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change.

The United Nations Framework Convention on Climate Change Secretariat and the Arab Republic of Egypt — the incoming Presidency of the 27th Session of Conference of the Parties — requested the Philippines to co-facilitate the pre-COP27 meeting with Poland, tackling climate finance on 13 October in Kinshasa, the Democratic Republic of the Congo.

At least 17 countries, including Angola, Argentina, Chad, Denmark, Germany, Ghana, Japan, the Maldives, New Zealand, Norway, Papua New Guinea, Poland, Portugal, Saudi Arabia, Singapore, the United States of America, and Zambia, as well as the European Union Commission have attended the session steered towards ideas and strategies to move forward the agenda on climate finance.

This includes the fulfillment of the $100 billion financial commitment by developed countries under the Paris Agreement, and the need to set a higher climate finance target through the New Collective Quantified Goal of the Glasgow Climate Pact.

During the discussions, Borje recommended strategies for expeditiously mobilizing climate finance.

As a co-facilitator, the Philippines made sure discussions were anchored on the commitments of developed countries to support developing nations, particularly those at risk and vulnerable nations, as provided in the UNFCCC and the Paris Agreement.

Borje cited the need to require transparency, responsiveness and scale throughout substantial progress in climate finance delivery by 2025.

He added the countries involved must be “innovative, creative and flexible” in tapping financial resources both from public and private sources in regard to low-carbon and climate-resilient development — consistent with Article 2 of the Paris Agreement.

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