MANILA, July 19, 2013—As climate advocates urged rich countries to pay their climate debts, Philippine Movement for Climate Justice (PMCJ) again demanded an immediate climate finance for the country during the last day of the 1st Meeting of Experts on Climate Finance under the United Nations Framework Convention on Climate Finance (UNFCCC) held in Makati City on July 16-17.
“New climate finance structure must now provide new and additional funds that prioritize public investments as a main source for climate financing,” said Gerry Arances of PMCJ.
Arances added that developed countries and corporations must not rake in profits off the misery and devastation experienced by vulnerable communities.
“Private finance should be limited. On the contrary, climate finance is precisely to hold developed countries liable to the climate crisis,” he also said.
Experts discussed the parameters of pathways for mobilizing scaled-up climate finance and examine enabling environment and policy frameworks in the context of mobilizing and effective deployment of climate finance.
PMCJ will continue to demand rich countries to start their payment for long overdue climate debt and call for immediate and drastic cuts on their greenhouse gas (GHG) emission until they fully commit. (Jandel Posion)