EconomyEditor's PickPHL’s Glasgow delegation calls for more technical aid

November 9, 2021

THE PHILIPPINES pressed home its core message to the climate change conference in Scotland, the developing countries require assistance from the rich world, with the Energy department focusing on the need for technical cooperation via the United Nations (UN).

Energy Undersecretary Felix William B. Fuentebella said at the 26th UN Climate Change Conference (COP26) in Glasgow that the Philippines supports the UN’s Santiago Network, a platform for connecting vulnerable countries to technical assistance from organizations and experts.

Mr. Fuentebella was quoted as saying in a statement issued by the Department of Finance (DoF) Tuesday that the developing world needs help from wealthier countries in preparing transparent and evidence-based loss and damage-related assessments and tracking under the Paris Agreement.

“(He) also proposed facilitating the provision of adequate risk management to attend to the increasing risk exposure of vulnerable countries to climate-induced hazards,” the DoF said.

The Philippine COP26 delegation is led by Finance Secretary Carlos G. Dominguez III.

Mr. Dominguez has been pushing for more climate financing from wealthy economies that have not offered sufficient help to developing nations in reducing their carbon footprint.

Such countries bear the most responsibility for their historic emissions, he said in the lead-up to the conference.

The Philippines has committed to reduce greenhouse gas emissions by 75% from 2020 to 2030. Of the 75% target, just 2.71% can be achieved with internal resources, while the remaining 72.29% rests on international assistance.

Extreme weather events have caused P506.1 billion in losses and damage to the Philippines over the past decade, highlighting the country’s vulnerability to the climate crisis even though it accounts for only 0.3% of the world’s total greenhouse gas (GHG) emissions, the DoF said. — Jenina P. Ibanez

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