Phl should mitigate climate change — PBBM

President Ferdinand Marcos Jr. on Wednesday said the Philippines should also mitigate climate change and its effects on the country as it is one of the most vulnerable countries to the impacts of global warming.

In his speech during the ceremonial turnover of the People's Survival Fund (PSF) at the President's Hall in Malacañang, Marcos said that the challenges posed by climate change should be seen as chances for renewal and progress in the country.

"We have unfortunately been determined to be one of the most vulnerable countries to the effects of climate change in the world, and so, we must do our part here in the Philippines," Marcos explained.

"But we must also take the lead when it comes to the global move and the global aspiration that those most vulnerable communities around the world will somehow be assisted by the developing countries when it comes to these measures to mitigate and to adapt to climate change," he added.

Hence, Marcos assured the various local government units (LGUs) of his administration's continued support for their climate adaptation projects worth more than P541 million.

"You are not alone in this effort. We in the national government are behind you and are ready to do all that we need to do and to assist you, to guide you, so that these projects will be successful and will lead on to greater and bigger mitigation efforts for climate change effects," Marcos said.

Marcos urged other countries to fulfill their pledges on climate financing to help lessen the impacts of the climate crisis.

"Our planet's health cannot be sacrificed for short-term gains and therefore it is our obligation to shape a world that our children will inherit with pride," Marcos said.

"Ladies and gentlemen, let us view the challenges brought about by climate change not as burdens to be carried but opportunities for renewal and advancement," he added.

Experts said the world requires over $3 trillion yearly in climate-related funds to uphold climate objectives by 2030. However, developing nations need to catch up in expediting decarbonization (mitigation) and fortifying against climate impacts (adaptation).

Back in 2009, wealthier nations committed to attaining $100 billion annually by 2020 for these crucial priorities—a target finally reached last year, as per a recent Organisation for Economic Co-operation and Development (OECD) report.

Anticipation at COP28 was high for voluntary commitments aiming to triple renewable energy capacity by 2030—an objective supported by the United States and China in a recent climate declaration. Additionally, there was an aspiration to double the annual rate of enhancements in energy efficiency.