Finance Secretary Carlos Dominguez III on Wednesday expressed the government’s strong commitment to leading the fight against climate change, calling for concrete actions from the other nations as well.
“The Philippines is determined to be a world leader in this fight against climate change. We are moving ahead with urgency to fulfill our ambitious target,” Dominguez told fellow leaders at the 26th United Nations Climate Change Conference of Parties or COP26 in Glasgow, Scotland.
“We shifted from theorizing about climate change to executing practical climate adaptation and mitigation projects on the ground,” he added.
He said the time for debate is over and the fulfillment of commitments and obligations to humanity should now be acted upon.
“We have very high expectations for this COP26 meeting to become not just merely an annual platform for discussion but a catalyst for concrete action plans,” the Finance Chief said.
“It’s time that we do some actual work on the ground and build a framework for climate justice,” he added.
For his part, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno joins the central banks and supervisors’ network for greening the financial system in line with the COP26 summit.
“Central banks and financial institutions should recognize their important role in contributing to the transition to a low-carbon economy,” Diokno said.
“As stewards of the financial sector, we should commit to act with urgency in achieving the desired emissions reduction targets and in promoting the sustainability agenda,” he added.