Department of Environment and Natural Resources Secretary Maria Antonia Yulo-Loyzaga will lead the Philippine delegation on an official mission to Baku, Azerbaijan for the 29th Conference of the Parties (COP29) to the United Nations’ Framework Convention on Climate Change on 11-22 November 2024.
Amidst the worsening climate crisis, Loyzaga expressed “cautious optimism” as the Philippine delegation will strive to follow up on previous commitments and advance new ones, and along with other countries, set a new global climate finance target for 2025 onwards, working from the $100 billion per year commitment which the parties have previously agreed on.
“The Asia Pacific nations that host a number of islands and our archipelago remain among the most vulnerable to the impacts of climate change,” Loyzaga said.
Because of this, the Department of Environment and Natural Resources (DENR) chief emphasized the importance of COP29 to help address financing gaps in climate action.
“Limited fiscal space in climate vulnerable developing countries means we need urgent access to the best science, along with new, additional and appropriate financing and innovative mechanisms and instruments from public and private sources,” she added.
“We are heading into COP29 inextricably linking Paris to the SDGs (Sustainable Development Goals) under UN auspices and the Plastics Treaty as well as other international commitments. All these must be linked because they rely on human and largely political decisions and actions and are truly interdependent,” Loyzaga stressed.
As world leaders prepare to to discuss in Baku for tough climate change negotiations, Loyzaga said, “we are paying close attention to discussions on our oceans, just as we are watching life on land.”
Loyzaga said it is equally important that the spotlight be trained on critical issues.
“A just transition, food, (including agriculture and fisheries) and water security, public health, climate change-induced mobility, urbanization, local resilience and the developments in carbon and biodiversity markets are also among our areas of concern.”
While present in Baku, the DENR chief said the Philippines is also preparing to host the fourth meeting of the Board of the Fund for Responding to Loss and Damage in Manila on 2-5 December.
“I have met with the co-chairs, and together with the newly elected executive director, we hope to explore ways that the Philippines and the fund can work together to accelerate operationalization so that we can contribute to achieving the goals of the Fund,” Loyzaga said.