Manila — The Climate Change Commission (CCC) has emphasized the need for increased cooperation between government and private sectors to effectively address climate challenges through comprehensive economic and sustainability strategies.
According to Philippines News Agency, CCC Vice Chairperson and Executive Director Robert E.A. Borje highlighted the critical role of the private sector in taking a leadership position in climate action. He advocated for the use of innovative financing and policy incentives to foster transformative environmental efforts.
Borje illustrated the financial wisdom of investing in adaptation rather than facing the steeper costs of recovery post-crisis. Citing a 2019 Global Commission on Adaptation report, he noted that an investment of USD 1.8 trillion in areas like early warning systems, resilient infrastructure, and water security could yield approximately USD 7.1 trillion in net benefits.
The CCC is urging the private sector to deepen their engagement with government initiatives by helping to shape policies and contribute to the National Adaptation Plan and the Nationally Determined Contribution Implementation Plan. These collaborations aim to advance critical sectors such as renewable energy, sustainable transportation, and nature-based solutions.
Furthermore, the CarbonPH Initiative, a coalition of 17 corporations, is aligned with these goals, seeking to promote a low-carbon economy in the Philippines through strategic investments and policy input.