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Climate change support needed — Dominguez

Concrete actions to fight climate change that have already started by the state include the push for a law banning single-use plastics and the establishment of its first-ever sustainable finance roadmap to get green projects moving across the country

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While the Philippines is starting to take concrete actions to counter the ill effects of climate change, it will still need significant support from the international community, Finance Secretary Carlos Dominguez III said.

According to him, the country’s nationally determined contribution or NDC to the Paris Agreement would not only require a whole-of-nation approach, but the financial backing of private investors and donor countries.

Still, the Finance chief said the Philippines is heavily dependent on international support for its finance capacity building and technology transfers for its climate projects.

“Very reliant, there is no question about it. However, as I said, we are going to start on our own and we hope that the world at large will come and support us,” Dominguez explained.

“But we have to realize that each country has to take their own action for others to follow it. We can’t wait for them to dictate to us what to do,” he added.

Under the Philippines’ NDC, projected greenhouse gas emissions reduction and avoidance of 75 percent was expected by 2030, 2.71 percent of which is unconditional while the remaining 72.29 percent is conditional.

The Department of Finance noted the conditional portion of the country’s NDC would require financing support from international partners.

“We realize that we are one of the most vulnerable countries to climate change and we have decided to take action on our own and we will not wait for international agreements on climate change,” Dominguez said.

“However, we hope that this COP26 (26th United Nations Climate Change Conference of the Parties) will result in positive action and will start the flow of funds to help countries,” he added.

Concrete actions to fight climate change that have already started by the state include the push for a law banning single-use plastics and the establishment of its first-ever sustainable finance roadmap to get green projects moving across the country.

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