Philippines among beneficiaries of Canada’s climate finance – UNDP

MANILA, Philippines — Canada yesterday clarified the Philippines would be among the developing countries to benefit from its total $5.3-billion climate finance commitment.

The STAR earlier reported that the Philippines and the United Nations Development Program (UNDP) have secured $5.3 billion in climate finance commitment from Canada.

The story titled, “Philippines gets $5.3 billion climate finance commitment from Canada,” was published on Dec. 7.

“We would like to clarify that the $5.3-billion is Canada’s total international climate finance commitment, and not just dedicated to the Philippines,” according to a statement sent by a UNDP staff to The STAR yesterday.

Canada has doubled its international climate finance from $2.65 billion (2015-2021) to $5.3 billion (2021-2026).

The Presidential Communications Office earlier said the Philippine government and UNDP are working with Canada to reduce the climate finance gap through natured-based solutions projects to be funded under a $5.3-billion climate finance commitment.

Global Affairs Canada Climate Finance executive director Andrew Hurst earlier said Canada has increased its support for the Philippines in promoting biodiversity conservation, climate change mitigation, adaptation, and resilience with consideration for gender equality.?The collaboration and finance commitment will run until 2026, he said.

Hurst announced Canada’s increased support for the Philippines in the ongoing 28th Conference of the Parties of the United Nations Framework Convention on Climate Change in Dubai.

He said the project aims to address a number of persistent issues through a single intervention or in an integrated way.?“That includes trying to reduce poverty, trying to address gender inequality… trying to support communities that are often dependent on nature for their livelihoods while also looking to conserve and sustain biodiversity,” Hurst said.

In 2022, the Philippines topped the World Risk Index, which measures countries’ disaster risk from extreme natural events and the effects of climate change.