Marcos Confirms Support
In a significant move for climate adaptation, President Ferdinand R. Marcos Jr. reaffirmed his administration’s unwavering support for local government units (LGUs). The commitment came as he spearheaded the presentation of People’s Survival Fund (PSF) Resolutions, approving local climate adaptation projects exceeding PHP541 million.
A Landmark Moment in Climate Stewardship
In a ceremony held at Malacañan Palace, President Marcos emphasized that the approval of PSF-funded climate adaptation projects underscored the government’s dedication to environmental stewardship and climate resilience. The substantial sum earmarked for these projects reflects a groundbreaking commitment to tackle the challenges of climate change.
A Swift Approval for Monumental Projects
President Marcos, speaking at the event, highlighted the remarkable speed with which the PSF Board greenlit projects of this scale.
“This milestone not only reinforces our dedication to climate adaptation but also signifies that, for the first time, the PSF Board has approved projects of such magnitude in a remarkably short period,”
He expressed optimism, stating that the implementation of local climate adaptation projects could turn the dream of a “sustainable and climate-resilient Philippines” into a reality.
Congratulations and Continued Support
Addressing the beneficiaries of the PSF, President Marcos extended his congratulations and pledged ongoing support for their efforts to mitigate and adapt to the impacts of climate change.
“Your dedication to climate-related projects is noteworthy and will boost the resilience of our people and their communities,” he added.
Marcos urged LGUs to ensure the successful implementation of their PSF-funded projects, encouraging other local governments to take inspiration and initiate similar climate initiatives.
PSF Milestones and Funding Impact
Established under Republic Act 10174 in 2012, the PSF started with a capitalization of PHP1 billion to finance LGU and community organization adaptation programs. The recent approval of six new climate adaptation projects, totaling over PHP541 million, brings the total number of PSF-funded projects to 11 climate adaptation initiatives and six projects for Project Development Grants (PDG), totaling PHP889.6 million.
With an impressive utilization rate of 89 percent, only 11 percent of the initial PHP1 billion allocation remains.
Diverse Projects Across the Philippines
The approved projects span various regions, addressing specific climate challenges. The Provincial Government of Mountain Province secured PHP271.15 million for a Climate Field School, while Maramag, Bukidnon, received PHP126.4 million for drainage systems and agroforestry development.
Borongan City in Eastern Samar was granted PHP117.96 million for embankment infrastructure and reforestation along the Lo-om River. Cabagan, Isabela, received PHP21.28 million for an irrigation project, and Catanauan, Quezon Province, obtained PHP264 million for mangrove rehabilitation.
Besao, Mountain Province, received PHP2 million for the Water Harvesting Structures Project.
Global Advocacy for Climate Financing
President Marcos announced that he would depart for Dubai to participate in the 28th Conference of Parties to the United Nations Framework Convention on Climate Change. He emphasized the Philippines’ trailblazing role in domestic climate finance for adaptation, showcasing the nation’s commitment to global environmental responsibility.
Marcos vowed to rally the global community, calling on nations to honor their commitments, particularly in climate financing.
In a nutshell, President Marcos, with the approval of over PHP541 million for local climate adaptation projects, is not only spearheading domestic climate resilience but also taking the Philippines to the forefront of global environmental responsibility.
The diverse range of approved projects reflects a commitment to addressing specific climate challenges across various regions, marking a significant stride towards a sustainable and climate-resilient Philippines.