MANILA - President Macapagal-Arroyo returned Saturday from the underachieving global summit in Copenhagen, bringing home some $380 million in financial aid pledges to help the country cope with the impact of climate change.
With the summit reaching no full agreement on a global effort against climate change, Ms Arroyo found a sense of achievement in the pledges, the bulk of which came from the World Bank and the Asian Development Bank.
Press Secretary Cerge Remonde said both institutions had committed up to $250 million from their “clean technology fund… in recognition of the Philippines’ leadership role in tackling climate change challenges in Asia.”
Remonde said the fund was the first to be approved in the Asia-Pacific region and would translate to programs on renewable energy, energy efficiency, and clean urban transport under the auspices of the Department of Energy.
In her arrival statement, Ms Arroyo described the country’s efforts to mitigate the effects of climate change as a “life-and-death issue.”
“The Philippines is on the frontlines of the changing global climate,” she said. “The severe storms that have blasted our nation are increasing in intensity, ravaging our land, our people, and our way of life.”
Besides the clean technology fund, the Philippines was also assured of up to $70 million in forestry investment fund subject to its submission of a formal proposal, according to Remonde.
Ms Arroyo also took home pledges amounting to $50 million from the global environmental fund, and another $10 million from Denmark in support of the Philippines’ local water utilities, Remonde said.
Ms Arroyo was apparently keeping her hopes high despite the relative failure of the Copenhagen conference.
"That we did not reach a full agreement is maybe a disappointment but we believe the world is a better place today as a result of the summit meeting,” she said.
If anything, she said, the summit made developed nations realize that “no longer can the world’s top polluters sweep this problem under the rug.”
“The issue is now firmly on the table for everyone to see. There is no going back. All nations—rich and poor—have all noticed that they must come to grips with this raging problem,” she said.
Ms Arroyo added: “While the results were not enough, [the summit] is a step forward to the right direction that will eventually lead us down the path of a cleaner, greener world for future generations.”
She said the Philippines’ contribution would focus on “advocacy and support” for the reduction of gas emissions which continue to warm the planet.
“Unfortunately, the answer to climate change is one that is complex and, of course, the efforts and the commitments [will come] not just from one or two nations, but from all nations,” she said.
“Nations must face this challenge with more commitment and must put the interests of the world ahead of their own interests. We must remember that no one wins if the world loses.”
Ms Arroyo also commended developed countries such as the United States for making available “substantial sums… to help developing nations such as the Philippines to adjust to the changing climate.”
“These funds will go a long way to helping us adjust the impact of global warming on our beautiful island nation,” she said.
“This was a small step but an important one for the developing world as we are the smallest contributors to climate change but the ones who suffered the most.”
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