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Climate Change Expenditure in the Philippines Policy Brief
Summary The Philippines is among the most disaster-prone countries which may be attributed to various factors such as lack of land barriers, accelerating environmental deterioration, unsustainable development practices, and growing population. According to the United Nations for Framework Convention on Climate Change (UNFCCC), a critical aspect to address in order to reduce emissions and alleviate climate change impacts is through Climate Finance. Climate Finance refers to local, national or transnational financing, which may be drawn from public, private and alternative sources of financing.
This study explored the state of Climate Finance in the Philippines using data from the Climate Change Expenditure Tagging (CCET), General Appropriation’s Act (GAA) and Official Development Assistance (ODA) Portfolio Reviews. It also focused on the agricultural sector, as the Philippines is highly agricultural and the sector is one of the most vulnerable sectors to climate change. It also focuses on Climate Change Adaptation (CCA) because of the prioritization for adaptation given the inevitable intensification of climate change and its associated risks. The findings serve as baseline in illustrating how funds for climate action are being spent which may be used for improving future climate change related investments, and also to see if international pledges and commitments are actually being delivered.