Press Release
May 8, 2011

Legarda Looks into SK Fund as Source
for Climate Change Adaptation Programs

Senator Loren Legarda today said that she will look into the possibility of using part of the Sangguniang Kabataan (SK) Fund as source of finances for the country's climate change adaptation programs and projects.

Legarda, Chair of the Senate Committee on Climate Change, said that the 10 percent share of the SK from the Barangay General Fund can be used for more productive and long-term programs such as environment- and climate-related projects that would make all communities around the country disaster-resilient.

"Instead of using SK funds for projects such as barangay contests and the like, which do not provide long term benefits, we can use these resources to boost our green policies in the community level. This will also help raise youth awareness on environmental preservation and turn them into ecological warriors or climate heroes," she stressed.

Legarda is set to sponsor the People's Survival Fund bill, which would create a special trust fund for the financing of adaptation programs and projects based on the National Strategic Framework and the National Climate Change Action Plan.

The fund shall be sourced from public sources, foreign or local, including 10 percent from cash dividends declared by all government-owned and controlled corporations; five percent of the proceeds from the sale of certified or verified emissions reduction carbon credits generated from domestic activities; and 10 percent of the monies collected under Republic Act 8794, otherwise known as the Motor Vehicle User's Charge.

The Senator explained that it also encourages counterpart funding arrangements among local governments including the SK, community organizations, the private sector, and other entities.

"A major stumbling block to our climate resiliency efforts has been the less than serious efforts at the community level to undertake adaptation measures because resources are scarce. We have to use the limited resources of our country wisely and using it for climate change adaptation is a wise investment that would not only save lives but also prevent millions worth of damages when natural hazards strike," Legarda concluded

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