Accessing UN climate financing hard
By Nidz Godino
"We are already in the middle of effects of climate change… time to get it done…but I'm glad you're here…as you can see immediately... this is very high on our priority... it is something we really have to come to grips with…and I know UN certainly is providing some financing in terms of green and blue bonds," President Ferdinand Marcos Jr.was quoted in statement telling United Nations Office for Disaster Risk head Reduction Mami Mizutori developing countries are having difficulty accessing climate financing, FMJ emphasized need to act on climate change being felt in the Philippines through frequent and intense disasters.
Mizutori told FMJ in meeting at Malacañang international body is ready to assist country in climate financing as it cited efforts of the President to mitigate effects of climate change in the country.
Although FMJ hailed offer of Mizutori and UN office, Chief Executive also "raised difficulty of developing countries in accessing financing for climate change, so, and then there are many, many other requirements that we have to fulfill…and sometimes it seems very difficult to actually qualify for some of these," Presidential Communications Office said in statement.
Mizutori said UN Secretary General wants reform in international financial institutes and system. She mentioned plight of middle-income countries like Philippines that are constantly affected by climate-related disasters. This is an area where UN system is working with governments like France, governments like Barbados," said Mizutori, also special representative of UN Secretary General for Disaster Risk Reduction.
"So, we will work as United Nations system on how to better access climate financing," she added.
FMJ once called climate change " most pressing existential challenge of our time," said there are issues vulnerable countries like Philippines are wrestling with.
He said country has just gone through difficult time because of "very rapid" increase in price of rice because all Asian countries are bracing for El Niño in first quarter of 2024.
"So, everybody is buying that to build up their reserves, which drives price up," Chief Executive said.
Regions that were not experiencing typhoons and other calamities are now prone to floods and other climate-related disruptions and changes, he added.
"We are always expected to be one of the most vulnerable when it comes to effects of climate change and we certainly are very concerned…as I've said, right now, we are already feeling it because of frequency and intensity of these disasters that fall into country," the President told UN official.
During 18th East Asia Summit in Jakarta last month, FMJ pushed for loss and damage fund to support measures designed to mitigate effects of climate change. He added climate financing, complemented by viable and effective technology transfer and country specific capacity-building, is needed "to expedite just transition to climate-resilient economy."
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