Legarda Urges Developed Nations to Create a People's Survival Fund
December 06, 2011
While the world awaits the outcome of the 17th Session of the Conference of the Parties (COP) of the UN Framework Convention on Climate Change in Durban, South Africa, Senator Loren Legarda encouraged developed nations to create a People's Survival Fund through the Green Climate Fund (GCF).
Legarda, the UN International Strategy for Disaster Reduction Champion for Asia Pacific, said she hopes that the Durban talks would bring into action what was already agreed upon during the 16th COP in Cancun, Mexico, which is to create and finance the GCF worth $100-Billion a year.
"Developing countries that are most vulnerable to climate change are hopeful that industrialized nations would agree to immediately operationalize the Green Climate Fund," she stressed.
"It is unfortunate that developing nations bear the brunt of climate change when in fact most developed countries are the biggest emitters of greenhouse gas, which has caused the extreme changes in the climate. We hope that they would own up to their responsibility by advancing policies on reduction of greenhouse gas emissions and funding the GCF," she added.
Legarda, Chair of the Senate Committee on Climate Change, said that she is keen on pursuing the passage of the proposed People's Survival Fund (PSF) Act in the Senate but said that the country would greatly need financial support from the international community.
The Senator explained that the one-billion-peso fund under the PSF would not be sufficient to finance the country's programs for climate change adaptation and mitigation.
"One billion is not enough if we are to make our country resilient to climate change, and the Philippines is just one of the nations most vulnerable to the effects of this phenomenon. Less-developed countries are struggling to rise again every after a disaster strikes, and as this cycle continues, achieving greater economic growth and national progress becomes even tougher. We have been consistent in our disaster risk reduction and climate change adaptation efforts but we need parallel initiatives from advanced nations to help address this problem and to avert a potential global catastrophe," Legarda concluded.
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