Philippines outlines Climate Finance Strategy for sustainable growth

The Department of Finance (DOF) of the Philippines has developed a Climate Finance Strategy (CFS) to lead efforts in financing climate action. This national blueprint aims to secure resources for climate resilience through public-private partnerships and various international funding mechanisms. The CFS prioritizes the implementation of the National Adaptation Plan and is financially backed by international partners, including the UK and Canada. Furthermore, the DOF announced the replenishment of the People’s Survival Fund with PHP 1 billion for climate adaptation projects by local government units.