Facilitating private sector engagement for the financing of ecosystem-based adaptation in support of the Climate Change Action Plan of the Philippines
As of: September 2021
The National Climate Strategy and National Climate Action Plan adopted by the Philippines focus on ecosystem-based adaptation (EbA) to achieve solutions that are more capable of withstanding the effects of climate change. The project is helping the private sector take a leading role in implementing these EbA goals by developing operational business models and application-focused recommendations for the most important sectors of the country’s economy. The project is also utilising agreements and dialogue between the private sector and the National Climate Commission to develop a long-term strategy for private-public partnerships in the country. Long-term alliances and programmes are also being established between leading government initiatives and conservation associations on the one hand and private enterprise on the other. Insights from past projects are being shared in the Asia-Pacific region and beyond by working with business networks, development financing institutions and others.
State of implementation/results
- A launch event for the insurance program was held in February 2021 during an online seminar that included industry leaders from the insurance and reinsurance sectors. The goal of the insurance program is to support conservation and nature-based solutions in the Philippines through this sector.
- The online seminar, "Earth's assets: the economic case for financing mangrove forests as a nature-based solution," took place in January 2021.
- The Bridging Leaders’ Initiative for Climate Resilience (BLICR) fellowship launched its first phase by conducting workshops on systems thinking, stakeholder identification and mobilization, and approaches to ecosystem-based adaptation for the public and private sectors.
- EbA in Banking: the research programme was completed and initial findings were presented as part of the „Sustainable Finance for Banks Training Roadmap“ online seminar series in January 2021.