ROUNDTABLE DISCUSSION
Finding the Right Balance: Climate Finance Access and Accountability for Low Carbon Development

LEAD ORGANIZATION : Climate Change Commission (CCC)
PARTNER : Institute for Climate and Sustainable Cities (ICSC)

DATE : 16 May 2019
VENUE : Dolcelatte, Quezon Avenue

Objective

To discuss financial flows that bring economies towards low carbon development, and the ways actors from different sectors may contribute to the achievement of the balance between access and accountability to allow the flow of more predictable, scalable, and sufficient climate finance into the country

Background

Climate action, now more than ever, is needed to ensure that developing vulnerable countries such as the Philippines are able to thrive and develop under the new climate “normal”. Climate finance plays a central role in allowing the country to dive into mitigation and adaptation measures without compromising the achievement of development goals.

Thriving beyond surviving encapsulates the ideal situation that could only be achieved through a balance between access and accountability. Access to climate finance, new and additional sources in particular, would alleviate the burden to the budget of other crucial services. Increased access to finance is critical to meet mitigation ambitions and increase resilience through adaptation. However, climate finance is limited. How vulnerable countries, such as the Philippines, approach climate finance utilization, especially from international sources, will determine the success of the low carbon and resilient development pathway for the country. Ensuring that climate finance is allocated, disbursed, and spent on reducing vulnerabilities and ensuring low carbon development requires a holistic review of the country’s existing climate finance frameworks and governance structures, especially the existing accountability mechanisms.

This roundtable discussion seeks to allow the flow of more predictable, scalable, and sufficient climate finance into the country.

Program

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