Philippines Energy Policy Review Sets Green Economy Shift

Philippines Energy Policy Review Sets Green Economy Shift: Purisima: Climate finance integral to a successful transformation

PRESS RELEASE
Manila, Philippines – Friday, 3 June, 2016 – Finance Secretary Cesar V. Purisima welcomed President Benigno S. Aquino III’s call for a sweeping review of Philippine energy policy, setting the path for a whole-of-nation approach away from carbon and towards green energy development.
As chair of the V20 Group, now expanded to 43 countries most systemically vulnerable to the consequences of climate change, Purisima has called for a rethinking of the global economy through V20 initiatives like climate accounting and carbon pricing.
“Apart from its human costs—which ought to be a convincing enough reason for decisive global action in and of itself—climate change is a dead weight to the global economy. Business as usual no longer presents a strong business case for anyone. Shifting to clean, renewable energy is the best investment we can make for our future.
To this end, the V20 Group is developing concrete ways to reorder incentive structures governing human behavior in the global economy. Changing how we value and price the costs of human (in)action to climate change ought to make a green energy shift the only sensible choice to make for everyone,” Purisima said.
Climate change-related disasters have claimed over 1.35 million lives in total and affected an average of 218 million annually over the past 2 decades. Developing countries bear more than half the economic impact of climate change over 80% of its health impact, with annual climate change-related economic costs of $44.9 billion projected to increase ten-fold by 2030.
According to the Global Partnership for Preparedness, a group recently launched by V20 and several UN agencies, the global economic impact of climate change since 2005 has breached $1.3 trillion.
Purisima earlier emphasized this in his keynote address at the Future of Asia Conference in Tokyo, where he cited studies showing how climate change has already held back global development by close to 1% of the world GDP. Purisima also referred to a paper published in the scientific journal Nature estimating that overall economic production would fall by about 23 percent by 2100 if the climate keeps changing under the current models. The study also projected that climate change would reduce average incomes in the poorest 40 percent of countries by 75 percent in 2100, while making 43% of the global population poorer in 2100 than today.
“While we in the V20 Group work with experts and multilaterals on risk pooling mechanisms as well as other mitigation and adaptation measures, it is important for developing economies to get efficient access to financial resources to adapt and shift towards a green economy.” Purisima has been vocal in leading the V20 in advocating for swifter progress towards the achievement of the joint $100 billion developed country commitment for support to developing countries via the Green Climate Fund.
“Transitioning towards a green economy requires a lot of money, we must admit. It costs even more for developing countries. But the cost of saving our planet can never be more than the cost of losing it. This is why we need global collaboration on climate finance to fund a more sustainable future,” Purisima added.
Photo Caption: Man Shoveling Charcoal, Smokey Mountain Manila. Photo Credit: Adam Cohn via Flickr. Photo Licence: CC BY-NC-ND 2.0

New Global Partnership for Preparedness Launched: V20, UN and World Bank Collaboration to help countries get ready for future disasters

 New Global Partnership for Preparedness Launched: V20, UN and World Bank Collaboration to help countries get ready for future disasters

Download the Press Release (English, Pdf, 0.4mb)
PRESS RELEASE
Istanbul, Turkey – Tuesday, May 24, 2016 – A major new partnership to better prepare countries and communities for disasters is being launched today at the World Humanitarian Summit as a united response to a continuing rise in humanitarian emergencies.
The new global partnership for preparedness (GPP) is led by the Vulnerable Twenty (V20) Group of Ministers of Finance of the Climate Vulnerable Forum which represents 43 high risk developing nations in collaboration with UN agencies, including the Food and Agriculture Organization (FAO), the Office for the Coordination of Humanitarian Affairs (UNOCHA), United Nations Development Programme (UNDP) and the World Food Programme (WFP), as well as the World Bank’s Global Facility for Disaster Reduction and Recovery (GFDRR). The partnership will strengthen preparedness capacities initially in 20 countries, so they attain a minimum level of readiness by 2020 for future disaster risks mainly caused by climate change.
Roberto B. Tan, Treasurer of the Philippines, representing the chair of the V20, says that the goal of the partnership with the international community is to make sure that when disasters strike, the mechanisms and support are in place so people can get back on their feet as soon as possible, therefore minimizing the impact on development gains and preventing uncontrolled humanitarian crises. “We know investment in preparedness saves lives and dollars and thus makes financial and economic sense. If we plan ahead, we will create a situation where instead of wave after wave of climate-driven natural disasters destroying what gains communities have made, they can pick up their lives again as soon as possible. Crises such as those from natural disasters and effects of climate change should no longer spin out of control,” Treasurer Tan says.
United Nations Development Program Administrator Helen Clark says: “This partnership will help countries to reach an adequate level of preparedness for disasters and other shocks. The aim is to save lives, safeguard development gains, and reduce the economic impacts of crises. Importantly, this also safeguards development gains, which can otherwise be lost with each disaster, she said. “This new partnership puts at-risk countries in the driver’s seat and brings together the work of development and humanitarian actors in a coherent way.”
Stephen O’Brien, United Nations Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator states: “Extreme weather and other shocks shouldn’t become major humanitarian disasters if we better anticipate and plan for them ahead, and reinforce local response capacity. The global preparedness partnership led by countries most at risk of climate change through the V20 provides a key opportunity to make this happen”.
Laura Tuck, Vice President for Sustainable Development at the World Bank adds: “At the initiative of the Vulnerable Twenty Group of countries, we are joining UN agencies to support a global preparedness partnership to help build strong national and local institutions and ensure that planning and financing for preparedness are integral parts of countries’ disaster management frameworks.”
“The world’s population that depends on farming, livestock, fishing and forests for their food and livelihoods, are highly vulnerable to natural disasters, whether provoked by extreme events such as storms, droughts, floods or earthquakes. Farming remains a key economic activity for millions of people across the developing world and the bedrock of food security,” said FAO Director-General José Graziano da Silva. “This new effort will help build up the resilience of rural communities and boost national capacities to prepare for problems and respond effectively to disasters when they occur,” he added.
“As climate change increases the frequency and intensity of natural disasters, there is a need to shift from a focus on crisis response to taking anticipatory actions to manage risks. The global preparedness partnership recognizes that predictable finance and strengthened government capacity are essential for saving lives and reducing the cost of responding to disasters”, concludes Ertharin Cousin, Executive Director of the UN World Food Programme. 
 The partnership will become operational later this year and seeks to provide the initial 20 countries with support to achieve:
  • better access to risk analysis and early warning;
  • contingency plans with clear lines of responsibility, triggers for action, and pre-committed finance;
  • developing social protection, basic services and delivery systems capable of responding to shocks.
Photo Caption: The V20 Chair (Philippines) and Nepal standing together with UNDP and the World Bank for global preparedness