DOF pushes for mainstreaming sustainable finance in the Philippines
10 FEBRUARY 2021, Quezon City -- Department of Finance (DOF) Assistant Secretary Paola Alvarez today pushed for the mainstreaming of sustainable finance in the Philippines, involving a whole of government approach and internationally harmonized finance initiatives. “Even if we are doing so much in terms of policy to harness climate finance and to mitigate our disaster risk, we need to put forward on the international platform that the Philippines, a highly vulnerable country with only 0.3% of carbon emissions globally, actually needs international support for us to move forward,” she said in a virtual discussion organized by the Manila-based Institute [...]
Climate finance key to economic resiliency – experts
The Philippines can utilize climate change and energy transition financing to ensure a thriving, resilient economy, especially with the Department of Finance at the helm, according to two climate finance experts. “Climate finance is crucial, but is limited. We need solid plans to maximize every peso that we have for climate action,” said Angelo Kairos Dela Cruz, deputy executive director of the Manila-based international nonprofit Institute for Climate and Sustainable Cities (ICSC), in an online briefing. Dela Cruz shared the results of the Climate Finance Adaptation Study Report for the Philippines, which shows that USD 770 million (PHP 38.5 [...]