Press Release
July 7, 2010

Enrile supports stronger public finance for climate change

Senate President Juan Ponce Enrile has expressed a strong support for the call of civil society groups to take concerted action against what they described as "governance chaos" in connection with the administration of climate change-driven finance in the country.

At present, funds to prepare and assist our people for climate change impacts are limited, most often in the form of loans, and are difficult to secure, thus making us victims of exploitative traditional and unregulated financing mechanisms of large multinational banks and financing institutions.

"Addressing the serious issue of climate change requires substantial investment in new technologies, processes and services which are not only desirable, but also essential to the survival of our people, especially when faced with natural calamities caused by climate change," Senator Enrile emphasized.

Even while Congress passed the Climate Change Act of 2009, Enrile said that legislators should now undertake its review, in order to make a realistic assessment of risks and damages climate change may pose to the environment and, more importantly, to the security of our people. "We must also consider reviewing our priorities in terms of budget expenditure so that we can devote much-needed funds for mitigation activities and adaptation measures. At the same time, we must also explore alternative sources of funds for these programs." "Climate change is a complex, multi-faceted problem. Our efforts must give emphasis on public finance to enable the new government to move towards climate change adaptation."

Enrile issued the statement in support of the Forum on Climate Adaptation Financing in the Philippines organized by the Institute for Climate and Sustainable Cities.

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