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RP selected as pilot country to assess financing needs to deal with climate change

Last Updated on Tuesday, 30 November 1999 00:00 Written by Filipinas Press Tuesday, 24 March 2009 00:30

MANILA --- Environment and Natural Resources Secretary Lito Atienza on Wednesday announced the selection of the Philippines for a United Nations (UN) project that will assess the financing needs to implement mitigation and adaptation measures in dealing with climate change.

"We deem this project to be critical to the Philippines since we are one of the countries in the world most susceptible to climate change, especially extreme weather events. The inclusion of the Philippines in the study is recognition of our vulnerability and ability to adjust to the effects of climate change, given adequate resources. The project can open doors for more financing assistance by donor countries and institutions," Atienza said.

The project entitled, National Economic and Environmental Development Study (NEEDS), is being implemented by the United Nations Framework Convention on Climate Change (UNFCCC) in nine pilot countries worldwide, in preparation for the 15th Conference of Parties of the UNFCCC and the 5th Meeting of Parties to the Kyoto Protocol to be held in Copenhagen, Denmark in December this year.

According to Atienza, no less than UNFCCC's financial cooperation unit chief Yolando Velasco witnessed the launching of the project early this month in the DENR. Other attendees to the project's launching included representatives from other concerned government agencies, non-government organizations and international financing institutions such as the United Nations Development Program (UNDP), World Bank (WB), Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), and the Australian Agency for International Development (AAID).

Atienza said the project will be conducted by the DENR over a period of eight months, in cooperation with the Manila Observatory of the Ateneo de Manila University, concerned agencies, non-government organizations, and international development agencies and institutions.

Atienza also said the project will specifically focus on determining the financing needs of the Philippines to mitigate its greenhouse gas emissions and adapt to the effects of climate change, including the key economic sectors, financial institutions and instruments and policies necessary for climate change financing.