Phl seeking COP28 pay

Finance Secretary Benjamin Diokno on Tuesday said the Philippines will seek compensation for climate change damage in an upcoming environmental forum.

Diokno made the remarks as President Ferdinand Marcos Jr. leaves for Dubai this week to attend the 28th Conference of the Parties, or COP28, to the United Nations Framework Convention to the United Nations Framework Convention on Climate Change.

"We are one of the most vulnerable countries (to climate change)," Diokno said. "So, there's got to be compensation. That's our current interest."

Sydney-based firm The Cross Dependency Initiative (XDI) earlier this year identified several Philippine provinces, mostly in Northern Luzon, as highly vulnerable to significant damage from extreme weather conditions over the next couple of decades.

XDI ranked Pangasinan, Pampanga, Nueva Ecija, Cagayan and Tarlac as the top five at-risk provinces due to the cumulative damage they face from climate-related disasters like flooding and sea-level rise.

In another study from last year, the Philippines ranked highest among 193 countries grappling with the risks of disasters stemming from extreme weather and other climate-triggered occurrences.

Diokno said the Philippines is particularly interested in discussing the "damage and loss activity provision" of the UNFCCC. This provision is designed to provide financial assistance to countries suffering loss and damage due to climate change.

"I think we're more interested in what's called the damaged and loss activity provision because that has been discussed for a long time, around 15 years in the (Climate Change Operational Framework), and it was first brought up in 2017," Diokno said. "It was also touched upon in the last CCOF in 2017, so that's where our interest lies."

More than 70,000 individuals, including world leaders, from various nations are anticipated to convene at the United Nations Climate Change Conference, also known as COP28, scheduled from 30 November to 12 December at Expo City in Dubai, United Arab Emirates.

The annual gathering aims to fulfill prior commitments and pledges and strive to expedite efforts in addressing the pressing climate crisis. Emphasizing the shift to renewable energy and bolstering climate finance will be the focal points of this year's discussions.