The Climate Change Commission (CCC) has underscored the importance of coordinated efforts and inclusive financing mechanisms for developing nations.
Speaking at the Organisation for Economic Co-operation and Development’s (OECD) Peer Learning Workshop on Paris Alignment and Effectiveness in France on Sept. 19, CCC Deputy Executive Director Romell Antonio O. Cuenca emphasized the urgent need to streamline financial flows for climate action, ensuring that developing nations such as the Philippines can meet their climate goals under the Paris Agreement.
“We recognize the urgency to ensure that our collective efforts under the Paris Agreement translate into tangible, effective actions on the ground,” Cuenca said at the session on the “Practical Delivery of Climate Action in a Complex and Fragmented Finance Landscape.”
Cuenca detailed the Philippines’ comprehensive climate strategy, which is anchored in its Nationally Determined Contribution (NDC) and National Adaptation Plan (NAP).
He highlighted the country’s NDC target to reduce greenhouse gas emissions by 75 percent by 2030.
He said while 2.71 percent of this target will be achieved using domestic resources, a significant 72.29 percent is conditional on support from developed countries through climate finance, technology transfer, and capacity building.
“This conditional aspect reflects the Paris Agreement’s principle of common but differentiated responsibilities, which underscores the obligation of developed nations to assist developing countries like the Philippines in achieving their climate goals,” Cuenca said, urging developed nations to increase their financial support for vulnerable countries.
Cuenca also emphasized the importance of the NAP, which serves as a blueprint for building climate resilience across eight key sectors, including agriculture, health, and water resources.
He underscored the need to localize adaptation efforts, tailoring measures to the specific vulnerabilities and needs of communities in the Philippines.
He further shared insights on how the Philippines is leveraging international climate finance, citing funding from the Green Climate Fund (GCF) and the Global Environment Facility (GEF) for key projects including the Multi-Hazard Impact-Based Forecasting and Early Warning System and the Adapting Philippine Agriculture to Climate Change initiative.
Domestically, Cuenca cited the People’s Survival Fund (PSF), which has been crucial in financing community-based adaptation projects in the most vulnerable areas. He described PSF as an example of how targeted, localized finance can directly improve resilience and livelihoods.
As the world heads toward the 29th Conference of the Parties (COP29), Cuenca stressed the need for the international community to assess the progress of climate finance mechanisms.
He reaffirmed the Philippines’ commitment to international cooperation, robust national planning, and inclusive, gender-responsive strategies to build a resilient and sustainable future for all.
“By doing so, we can ensure that the Paris Agreement’s goals are not just aspirational but are realized through concrete actions that benefit our people and our planet,” Cuenca said.
The OECD Peer Learning Workshop, organized by OECD and the Network on Environment and Development Co-operation (ENVIRONET), provides a timely opportunity to evaluate practical approaches by development partners in supporting their partner countries’ climate readiness and leadership in transitioning to climate-resilient, low-emissions development pathways.
This year’s event gathered representatives from various governments, international organizations, and development partners to exchange knowledge and experiences on effective climate finance strategies. It served as a platform for countries like the Philippines to share best practices in mobilizing resources for climate action while addressing the complexities of a fragmented global finance landscape.
“The outcomes of the workshop will contribute to the Philippines’ preparations for the upcoming COP29 negotiations, where the country will continue to advocate for greater support for developing nations, particularly in terms of finance, technology transfer, and capacity building,” Secretary Robert E.A. Borje, CCC Vice Chairperson and Executive Director, said as quoted in a news release on Friday. (PNA)