The Department of Finance (DOF) urged climate experts and leaders from the public, private, and development sectors to invest more in resilience finance to reduce climate risks and disasters.
The Department of Finance urged climate experts and leaders from the public, private, and development sectors to invest more in resilience finance to reduce climate risks and disasters.
As such, the DOF proposes a three-pronged blended approach of grants, investments, and subsidies as modalities of climate finance. He said that the private sector is an important pillar in realizing a just transition to low-carbon economy through energy transition, technology development and deployment, and building of climate-resilient communities, with due regard to natural resources and ecosystem integrity.
“This provides a reference point for determining the eligibility of green projects covering renewable energy, energy efficiency, pollution prevention and control, environmentally-sustainable management of living natural resources and land use, clean transportation, and adaptation of green infrastructure,” Diokno said.
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