Glasgow, 6 November 2021 (TDI): The Philippines presented its newly launched Sustainable Finance Roadmap at the COP26. The COP26 is the 26th United Nations Climate Change Conference of the Parties.
26th United Nations Climate Change Conference of the Parties
The COP26 is being held as a model for other emerging economies. It will help them to incorporate climate and environmental factors to build a sustainable and resilient economy.
Global Methane Pledge
Recently many countries signed the Global Methane Pledge. The world leaders agreed to cut down methane emissions to tackle Climate Change. It is the only way forward for a safer Earth.
Sustainable Finance Roadmap
Finance Secretary and Climate Change Commission (CCC) chairman-designate, Carlos Dominguez is heading the Philippines’ delegation. He said the Roadmap will serve as the Philippines’ master plan in formulating green and sustainable policies. It will help to increase investments to reduce the country’s greenhouse gas emissions.
Reduction of Greenhouse Gas Emissions
The Philippines will reduce greenhouse gas emissions from 2020 to 2030 as per the Paris Agreement. It will revolutionize the agriculture, wastes, industry, transport, and energy sectors to create a low-carbon economy.
Dominguez said that his country will launch a financial mechanism on the sidelines of COP26. The financial mechanism will aid the country to transition from coal to clean energy.
Climate Change
The Philippines has intensified efforts to fight Climate Change. It has established a new National Panel of Technical Experts of the Climate Change Commission (NPTE-CCC). This group will provide practical solutions to fight climate change.
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