MANILA, Philippines — The Governance Commission for GOCCs (GCG) called on state-run firms to concretize their programs toward addressing climate change.
During the Annual National Climate Change Expenditure Tagging (CCET) orientation, the GCG said the Philippines could transform and benefit as several projects will enhance the capacity and resilience of communities and ecosystems to natural hazards and climate change.
GCG commissioner Gideon Mortel said allotting a budget to projects geared toward climate-oriented objectives will yield positive repercussions for the country.
“Through the CCET, we become hopeful in seeing a country that can withstand torrents of typhoons, survive unexpected energy and water shortages, and overcome price inflation of food supply,” Mortel said.
The CCET has supported several projects under the government aimed at climate change resilience including water sufficiency, sustainable energy and food security, flood management, and national greening.
On the other hand, the Department of Budget and Management emphasized the importance of identifying environment-related programs and projects in the national budget.
Budget chief Amenah Pangandaman noted that climate change would continue to pose significant risks to economic development if it would not be addressed.
“Mainstreaming climate considerations in public financial management is crucial in climate change adaptation and mitigation,” she said.
The government has allocated P464.5 billion to address climate change for this year, representing 8.8 percent of the record P5.268 trillion budget.
Among the priorities include water sufficiency, sustainable energy, food security, ecosystem and environmental stability, climate smart industries and services, human security, and knowledge and capacity development.
Also included are disaster resilience, quick response, and flood management.