Ms. Arlene Eleanor E. Liberal and Ms. Serenidad F. Lavador (Small Enterprises Research and Development Foundation)
As a signatory to various international agreements on climate change and the environment, the Philippines is committed to pursue policies, programs and activities to reduce greenhouse gas emissions, one of which is climate finance. The paper examines the current status of climate finance in the Philippines and suggests measures to further improve its design and implementation. In this connection, an important role is played by the Climate Change Commission, which is tasked to formulate policies, coordinate public and private sector efforts on climate change mitigation and adaptation, and provide climate finance. Public and private financial institutions led by the Bangko Sentral ng Pilipinas have also opened, and currently provide financing facilities for renewable energy and green projects, in the process also serving
as conduits for international funds on climate change.
Climate finance being new in the country, awareness of its role and availability is still at a low level. There is a need to raise public awareness, incentivize climate finance providers and users, and build the capacity of institutions and individuals to assess and implement projects on climate change. The Philippines can also learn from the relevant experience of other countries.
public finance and the good life
taxation; debt sustainability; mobilization of domestic resources; government expenditures; remittances for development; etc.