Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

UN climate champion urges new administration to boost commitment to tackling climate change

by
June 12, 2022
in Investing News
0
UN climate champion urges new administration to boost commitment to tackling climate change
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter
FREEPIK

By Arjay L. Balinbin, Senior Reporter

MADRID, Spain — President-elect Ferdinand “Bongbong” R. Marcos, Jr. should strengthen the country’s commitment to tackling climate change to avoid putting it at greater risk, a United Nations (UN) climate champion said.

“Well, I would say to your president (Mr. Marcos) that this is an absolute urgent agenda. It’s an agenda that brings a lot of opportunities as well as many risks if you don’t follow the agenda and integrate it into your policies and the way you run the country,” Gonzalo Muñoz, chairman of the board for the UN climate champions, told BusinessWorld at the recent South Summit 2022, a global business summit in Madrid co-organized by the IE University.

“We cannot allow…the Philippines to be out of the center of the climate action agenda,” he added.

Mr. Muñoz served as the UN’s high-level climate action champion for COP25, or the twenty-fifth session of the Conference of the Parties in 2019.

“There’s no doubt that, in this moment, climate and the environment are strategic and competitive elements for every country in the world. If you don’t embrace the agenda, you are probably putting your nation at a higher risk.”

Climate Reality Project Philippines, a climate advocacy group, said in a statement in May that it expects the Marcos administration to “elevate the Philippines’ position as a formidable champion of climate-vulnerable countries in this critical decade for climate and environmental action,” as the new government’s “success or failure in implementing climate policies will decide who survives and thrives in this country.”

“The new president’s success or failure in leading the country’s transition to a renewable energy system will determine whether or not the Filipino people will finally enjoy cleaner air, healthier communities, and access to clean, reliable, and affordable electricity,” it added.

The group noted that the Philippines experiences “escalating losses” every year due to natural disasters, especially typhoons.

“This cycle of destruction and rehabilitation can only be addressed by deploying science and evidence-based solutions and by ensuring that the global community follows through with its commitment to limit global warming to the critical limit of 1.5 degrees Celsius above pre-industrial levels, as enshrined in the Paris Agreement.”

According to Mr. Muñoz, there is “a big moment” for Southeast Asian countries like the Philippines due to the attention that oceans are gaining.

“The oceans will be much more central to climate discussions… We need to integrate oceans in this moment into both environmental and social solutions.”

“We should have in the second semester of the year the Asia-Pacific Climate week, then I should be going there definitely; and if that allows me to visit the Philippines, I would be delighted,” he added.

The Department of Finance said last year that climate-related hazards have caused P506.1 billion (around $10 billion) in losses and damage to the Philippines over the past decade despite the country contributing only 0.3% of the world’s total greenhouse gas emissions.

Annual average losses of P48.9 billion from climate events represent 0.33% of each year’s average gross domestic product, it noted.

For Socioeconomic Planning Secretary Karl Kendrick T. Chua, climate change adaptation and mitigation must be placed at the center of socioeconomic planning for the Philippines to realize its 2040 goal of eradicating extreme poverty.

“Addressing the triple planetary crisis [of climate change, biodiversity loss, and pollution] has become our top development challenge. If we are to eradicate extreme poverty in the Philippines by 2040 and hand down a better planet to our children and grandchildren, climate change adaptation and mitigation need to be placed at the heart of socioeconomic planning,” Mr. Chua was quoted as saying in a statement on June 7.

According to the National Economic and Development Authority, the government has formulated an action plan for sustainable consumption and production aimed at providing the guiding framework towards the shift to sustainable and climate-smart practices and behaviors across sectors.

The Asian Development Bank (ADB) also recently approved a $250-million policy-based loan to help boost the country’s climate change efforts, noting that the Global Climate Risk Index 2021 ranked the Philippines fourth among countries most affected by extreme weather globally from 2000 to 2019.

“The pandemic has heightened the country’s vulnerability to the economic impact of severe weather events,” it said in a statement.

The ADB said the new program targets policy reforms and is expected to help the country build planning, financing, and institutional systems to scale up climate action. It also aims to improve the resilience of farmers and fisherfolk through sustainable solutions.

ShareTweetPin

Related Posts

Stocks decline on profit taking, recession fears
Investing News

Stocks decline on profit taking, recession fears

August 23, 2022
Peso climbs vs dollar as RTB offer starts
Investing News

Peso climbs vs dollar as RTB offer starts

August 23, 2022
PNR cancels bids for 3 projects after finding them ‘non-feasible’
Investing News

PNR cancels bids for 3 projects after finding them ‘non-feasible’

August 23, 2022
Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Next Post
Gov’t must continue giving investors tax breaks, other perks

Gov’t must continue giving investors tax breaks, other perks

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

For Malaysia, this is no game of chicken

For Malaysia, this is no game of chicken

June 21, 2022
Stocks drop further ahead of US inflation report

Stocks drop further ahead of US inflation report

July 13, 2022
Tips For Creating Ads People Will Actually Want To Look At

Tips For Creating Ads People Will Actually Want To Look At

July 27, 2022
Guion named flag-bearer of PHL team in Para Games

Guion named flag-bearer of PHL team in Para Games

July 18, 2022
Globe bags UN SDG Award for ‘People’ in 1st SDG Awards in the Philippines

Globe bags UN SDG Award for ‘People’ in 1st SDG Awards in the Philippines

August 19, 2022
Don’t call us pro-China, Taiwan opposition chief says in US

Don’t call us pro-China, Taiwan opposition chief says in US

June 7, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.