Manila gets EU assist in addressing climate change impact on trade, economy

A European Union (EU)-funded project has been launched to assist the Philippines address the economic and trade impact of climate change, and provide action plans for micro, small and medium enterprises (MSMEs) to comply with trade-related climate change measures.

Michaela Summerer, associate expert at Green and Inclusive Value Chains Section of the International Trade Centre, said the ITC climate competitiveness project aims to strengthen the understanding that trade can also play a role in adapting to climate change.

As part of this initiative, Summerer said the ITC is organizing various capacity-building and training opportunities to help Philippine MSMEs build climate competitiveness and resilience.

She urged these MSMEs to signify the kind of training and capacity-building offers that can support them access more international markets amid sustainability trends.

Summerer said these may include sustainability standards and certifications, managing resources efficiently, carbon reporting, business continuity in light of climate change, and environmental sustainability in the business context.

Green transition

“I see the green economy where we have an overarching theme that comes — how it links overall and very closely linked to green transition, sustainability initiatives. Renewable energy is also closely linked to resource efficiency but also how to approach this on a national level and be mindful about the sourcing of energy, cost effective practices,” she said during the recent project launch.

“In light of working with MSMEs, market access, I think we have a lot of different sustainability initiatives not only from the EU coming. So definitely a key area for ITC to work with you on climate change adaptation,” she added.

The ITC launched the climate competitiveness project in the Philippines in partnership with the Department of Trade and Industry during the National Export Congress last 5 December.