Facilitating the private sector engagement and dialogue for the financing of ecosystem-based adaptation in support of the Climate Change Action Plan of the Philippines
As of: August 2019
Objective and activities
The project will mobilise the private sector in the Philippines to take a leadership role in support of EBA goals of the National Climate Change Action Plan. It will provide key industry sectors in the country with a clear business rationale and practical proposals to support EBA policy goals through financing and other mechanisms. It will engage companies, business leaders and networks with practical proposals. It will map existing EBA initiatives in the country, including those supported by IKI, to provide companies with information on how these initiatives can be supported. It will facilitate engagements and dialogues between the private sector and the Climate Change Commission to develop a long-term strategy to sustain private sector collaboration; and will establish longer-term alliances and programmes between leading initiatives from the government and the ecosystem conservation community on one hand, and private sector companies on the other hand.
State of implementation/results
- In June 2018 the Earth Security Group (ESG) published the solutions brief „Business and ecosystem-based adaptaion in the Philippines” (see “Further Links”). The Brief presents four areas of business innovation for banks and corporates on how to maximize the business value of ecosystem-based climate adaptation in the Philippine in insurance, banking, conservation finance and entrepreneurship. The event was hosted by Aboitz Group.
- In July 2018, ESG together with its local partners, Asian Institute of Management (AIM) and Philippine Business for Environment (PBE), held a private sector workshop to further define and jointly develop the opportunities outlined in the brief into a series of forward-thinking collaboration opportunities to support EbA. Over 60 of the leading companies and banks in the Philippines came together. The event was hosted by Aboitiz Group. For the outcomes see “Further Links”.
- The project will reconvene these working groups at a Policy Workshop in January 2019, co-hosted by local partners AIM and PBE, to follow-up implementation.