UN ESCAP, SERDEF partner for climate finance project in PHL

Speakers and participants in the National Dialogue on the Role of Central, Public and Private Banks, and Opportunities for the Private Sector in Supporting Low-carbon, Climate-Resilient Development in the Philippines

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Small Enterprises Research and Development Foundation (SERDEF) have inked an agreement aimed at advancing climate change mitigation initiatives in the country.

This agreement is part of the ESCAP regional project called “Innovative climate finance mechanisms for financial institutions in the Asia-Pacific region.”It aims to address the need to identify alternative sources of funding for climate finance, as well as boost “financial institutions to develop an enabling policy environment that promotes private investments in climate change mitigation and adaptation.” The project covers five countries, including the Philippines.

For the Philippine implementation, ESCAP will provide financial support, and guidance for the implementation of project activities; prepare materials and guidance to SERDEF for the awareness component of the national workshops; and co-facilitate the national workshops.

On the other hand, SERDEF is tasked to (1) develop a scoping study, including the landscape of climate finance in the Philippines, and priority strategic areas of intervention, entry points and institutional arrangements at policy level; (2) conduct two national workshops to raise awareness; and (3) develop a set of case studies for the project’s toolkit and e-learning course.

SERDEF has tapped the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) to help implement the national project. In particular, ADFIAP will assist in the preparation of the scoping study; assist in identifying possible participants to the national workshops; and participate in these workshops as resource persons.

ROLE OF CENTRAL, PUBLIC, AND PRIVATE BANKS IN SUPPORTING LOW-CARBON, CLIMATE- RESILIENT DEVELOPMENT IN PHL

As part of the ESCAP-SERDEF project initiative, the National Dialogue on the Role of Central, Public and Private Banks, and Opportunities for the Private Sector in Supporting Low-carbon, Climate-Resilient Development in the Philippines was held on June 9 in Crowne Plaza Hotel, Ortigas Center, Quezon City.

During the opening ceremony SERDEF Chairperson Nelia T. Gonzalez delivered the opening message while Climate Change Commissioner Emmanuel M. de Guzman welcomed the participants. The Dialogue speakers included Aneta Nikolova, Environment Affairs Officer of ESCAP, Pia Roman of the Bangko Sentral ng Pilipinas, and Rey Guarin, Climate Finance Consultant of the United Nations Environment Program (UNEP).

The day-long event also saw participants discuss in various group sessions the following: Philippines’ Global Climate Change Commitments, Status of Climate Finance, the Financing Gap, and the Way Forward; Green Policy and Financial Tools for Mobilizing Private Sector Finance; and Opportunities for Developing Further for Climate Finance Policy Instruments for the Banking Sector in the Philippines.

Presenters during the sessions were Redentor Constantino, Institute for Climate Change and Sustainable Cities Executive Director; Emmanuel de Guzman, Climate Change Commissioner; Dr. Grant Kirkman, Head Relations Management-Climate Finance, UN Framework Convention on Climate Change; Dr. Kai Kim Chiang, Senior Consultant on Climate Finance, Environment and Development Division (EDD), ESCAP.

Headed by Cora Conde, ADFIAP consultants acted as Dialogue moderators and panelists.

A closing presentation on the Synergies between Low-Carbon Green Growth and the 2030 Agenda for Sustainable Development was made by Ms. Nikolova, and Nina Schneider, EDD/ESCAP Consultant.

All activities under the ESCAP-SERDEF partnership are expected to be implemented within the year.

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