Senator Loren Legarda yesterday proposed a ”novel” way to fund the country’s climate change adaptation and reconstruction initiatives in view of the fact that half of the country’s annual budget, pegged at P1.5 trillion for 2010, is allocated for foreign-debt servicing.
Loren said that the country’s reconstruction efforts from the devastations wrought by typhoons Ondoy, Pepeng and Santi, as well as its implementation of the landmark 2009 Climate Change Act, are hobbled primarily by lack of funds.
“I am proposing for our creditors, including the World Bank and the United States, to consider a Debt for Climate Change Adaptation Swap, in which portions of our payments for our foreign debts will be used by us instead for reconstruction and climate adaptation measures,” said Loren.
The chair of the Senate Oversight Committee on Climate Change, Loren revealed that she would formalize her proposal during the United Nations Conference on Climate Change Adaptation to be held in Copenhagen, Denmark from December 7 to 18.
Appointed by the UN as its Climate Change Mitigation and Disaster Risk-Reduction Champion for the Asia-Pacific Region, Loren will co-head the Philippine delegation to the Copenhagen conference.
She explained that under her proposal, the World Bank and the US, for example, may allow the Philippines to use US$1 billion (roughly P47 billion at the present exchange rate) for climate change related activities.
Among those that may be funded by the swap are the reforestation of three to eight million hectares each year, relocation of families displaced by the recent typhoons, and the refurbishing and/or the building of new schools, hospitals and mass settlements to higher standards, away from geographically hazardous areas.
Loren said international lending institutions and rich, highly developed nations like the US and Japan must also help poor and developing countries like the Philippines grapple with the effects of climate change.
She explained that as the primary user of fossil fuel like oil and coal, rich nations have the lion’s share in the release of greenhouse gases into the atmosphere, which is blamed for global warming.
“Under my Polluters Must Pay Principle, the international community of nations must press developed countries not only to lower their greenhouse gas emissions, but to contribute financially to a Climate Adaptation Fund,” Loren said.
She said that poor countries affected by climate change such as the Maldives, whose coasts are being swamped; Bhutan, which is hounded by perennial flooding and earthquakes; and the Philippines, may tap into the fund.
She pressed immediate action by the Philippines for the 60,000 families living under a mountain of garbage in Lupang Arenda in Taytay, Rizal, the thousands of farmers from Laguna whose farmlands had been flooded and had become part of Laguna de Bay; and the many other Filipinos in Bulacan whose livestock and poultry had been washed away by the flood.
“Farmers in Laguna had been forced to become fisher folks as their lands had come under water. Such an irony manifests the gravity of our problem,” Loren said.
During the Global Humanitarian Forum held last June in Geneva, Switzerland, Loren already presented her concepts on how poor nations can have access to climate adaptation funds, including those culled from the gross domestic products of rich nations.
She recalled the ideas being received enthusiastically by the forum, with UN Undersecretary for Humanitarian Affairs John Holmes describing them as “noble ideas.”
Source:http://www.lorenlegarda.com.ph/article-1257747411.html
Sunday, November 8, 2009
Senator Loren Legarda Speech on Philippine Forest
Ladies and gentlemen, officers and members of the Society of Filipino Foresters, Incorporated, my partners in environmental protection, a pleasant day to all of you.
Across the years, Philippine forests continuously declined in physical and environmental terms. Forest land area alarmingly went down from 36.3 percent or more than one-third of the country’s land area in 1970 to 18 percent in 2001. Evidently, most of our country’s once rich forests are now gone.
This is tragic because forests are indispensable in the overall ecological balance of the world by acting as a home for biodiversity and by protecting vital water and soil resources. Also, forests serve as major carbon sinks that absorb great quantities of carbon dioxide that otherwise would add to the greenhouse gases that contribute to global warming and rapid climate change.
Recent events have shown us the grim scenario of climate change impact. The intense and record-high rainfall by Ondoy, Pepeng and Santi, as well as the consequent fatalities and damages have shown us that the price we pay for denuding our forests and abusing the environment is well beyond our means.
It is therefore an imperative for us to do everything in our power to protect the forests left for our children and for humanity. It is an uphill climb but we must gather courage. We must pool in our knowledge, our skills, our commitment, and our passion. Essentially, we could find the know-how, the skills, and the passion among our foresters.
Our foresters are the ones who are literally “on the ground” in protecting our forests from abuse and misuse. They are the foot soldiers. They are our forests’ caretakers. And incident to their vocation, foresters are also our partners in reducing poverty in the rural areas. Indeed, many are already rising to the challenge, and our gathering here today is a testament to this.
Let me reiterate that forest protection, like environmental protection, is not its own end. As always, the strong environmental thrust of my advocacy is part of my larger plan and vision of eradicating poverty in the grassroots. Taking care of our forests not only responds to climate change and other environmental concerns but also deals with persistent local poverty because forests are a vital part of the development in the rural areas. I envision every part of the country, every nook and cranny, to be planted with trees so as to be eventually capable of developing to their fullest potential.
The recently passed Climate Change Act gives a window of opportunity for us to respond to the challenges of climate change in a comprehensive manner. As the principal author and sponsor of the law, I set out to give more stakeholders and communities greater responsibility and opportunity to initiate programs in their respective areas of responsibility that are aligned to the national and global goal of sustainable development.
This legislation mandates the creation of a Climate Change Commission which will create an enabling environment for multi-stakeholder participation. Moreover, it will provide technical and financial support to local research and development programs and projects in vulnerable communities. Financial packages for climate change related projects will be provided by government financial institutions.
Given the global condition of the environment, foresters are becoming more important in the future. Rest assured that my advocacy of tree-growing and rejuvenating our forests has not been a case of missing the foresters for the trees. You have my ears in matters of environmental protection and so feel free to tell me your concerns. We will find ways to address them.
In conclusion, I wish you success in your convention this year. As I read your theme, “Sustainable Forests: Key to Climate Change Adaptation and Biodiversity Conservation," I am gladdened because it is aligned with my advocacy of environmental protection and sustainable development. It is aligned with our efforts in finding the best ways to put forests to work for the benefit of the poor in rural communities and in the world. It is aligned with our efforts in making forests adapt to the adverse effects of climate change. Forests make the world safe for habitation and you, foresters, are instrumental for making this world a better place.
Source: http://www.lorenlegarda.com.ph/article-1257562801.html
Across the years, Philippine forests continuously declined in physical and environmental terms. Forest land area alarmingly went down from 36.3 percent or more than one-third of the country’s land area in 1970 to 18 percent in 2001. Evidently, most of our country’s once rich forests are now gone.
This is tragic because forests are indispensable in the overall ecological balance of the world by acting as a home for biodiversity and by protecting vital water and soil resources. Also, forests serve as major carbon sinks that absorb great quantities of carbon dioxide that otherwise would add to the greenhouse gases that contribute to global warming and rapid climate change.
Recent events have shown us the grim scenario of climate change impact. The intense and record-high rainfall by Ondoy, Pepeng and Santi, as well as the consequent fatalities and damages have shown us that the price we pay for denuding our forests and abusing the environment is well beyond our means.
It is therefore an imperative for us to do everything in our power to protect the forests left for our children and for humanity. It is an uphill climb but we must gather courage. We must pool in our knowledge, our skills, our commitment, and our passion. Essentially, we could find the know-how, the skills, and the passion among our foresters.
Our foresters are the ones who are literally “on the ground” in protecting our forests from abuse and misuse. They are the foot soldiers. They are our forests’ caretakers. And incident to their vocation, foresters are also our partners in reducing poverty in the rural areas. Indeed, many are already rising to the challenge, and our gathering here today is a testament to this.
Let me reiterate that forest protection, like environmental protection, is not its own end. As always, the strong environmental thrust of my advocacy is part of my larger plan and vision of eradicating poverty in the grassroots. Taking care of our forests not only responds to climate change and other environmental concerns but also deals with persistent local poverty because forests are a vital part of the development in the rural areas. I envision every part of the country, every nook and cranny, to be planted with trees so as to be eventually capable of developing to their fullest potential.
The recently passed Climate Change Act gives a window of opportunity for us to respond to the challenges of climate change in a comprehensive manner. As the principal author and sponsor of the law, I set out to give more stakeholders and communities greater responsibility and opportunity to initiate programs in their respective areas of responsibility that are aligned to the national and global goal of sustainable development.
This legislation mandates the creation of a Climate Change Commission which will create an enabling environment for multi-stakeholder participation. Moreover, it will provide technical and financial support to local research and development programs and projects in vulnerable communities. Financial packages for climate change related projects will be provided by government financial institutions.
Given the global condition of the environment, foresters are becoming more important in the future. Rest assured that my advocacy of tree-growing and rejuvenating our forests has not been a case of missing the foresters for the trees. You have my ears in matters of environmental protection and so feel free to tell me your concerns. We will find ways to address them.
In conclusion, I wish you success in your convention this year. As I read your theme, “Sustainable Forests: Key to Climate Change Adaptation and Biodiversity Conservation," I am gladdened because it is aligned with my advocacy of environmental protection and sustainable development. It is aligned with our efforts in finding the best ways to put forests to work for the benefit of the poor in rural communities and in the world. It is aligned with our efforts in making forests adapt to the adverse effects of climate change. Forests make the world safe for habitation and you, foresters, are instrumental for making this world a better place.
Source: http://www.lorenlegarda.com.ph/article-1257562801.html
Loren to Press Debt Swap for Disasters in UN Meet
Sen. Loren Legarda, chair of the Senate committee on climate change, will press for the adoption of her proposal to swap foreign debt for disaster mitigation and adaptation projects in developing countries during the United Nations Conference on Climate Change Adaptation to be held in Copenhagen, Denmark, on December 7 to 18.
Loren, who is also UN champion for disaster risk reduction in Asia-Pacific, initially made the
proposal during the world parliamentarians’ Global Platform 2009 in Geneva last June as a creative solution to raise funds for disaster risk reduction programs.
In announcing her plan to push her proposal at the Copenhagen conference, Loren said that the “huge devastation and the horrific casualties caused by typhoons Ondoy and Pepeng, as well as rising threats of even greater natural catastrophes in the future, make international cooperation more urgent in combating climate change.”
World parliamentarians adopted Loren’s proposal for a debt-for-risk reduction swap at the Global
Platform 2009 meeting in Geneva as a practical approach to climate change adaptation involving both developed and developing countries.
“It’s a new concept adopted at the UN Global Platform on DRR. This is the easiest because no new funds, financing or resources, are needed. This is a creative way of paying for debt and it’s a creative collaboration between the developed and poor developing nations. In this effort, nobody loses, humanity wins,” said Senator Loren Legarda, the United Nation’s International Strategy for Disaster Reduction (UNISDR) champion for disaster risk reduction and climate change
adaptation in the Asia Pacific region.
In a summary report on the global platform proceedings, the Chair said, “The Global Platform recognized a drastic mismatch between the resources required to address disaster risk in developing countries and those actually available. A massive scaling up of action is needed. Put bluntly, many countries must dedicate substantially more funds from national budgets – or increasingly suffer the consequences. This is also a must for the international community, since some countries suffer from institutional and capacity weaknesses and unless their capacities are strengthened implementation will not succeed.”
“A variety of innovations, such as incentives for retrofitting, risk transfer tools, risk-sensitive development, private sector involvement, debt swaps to finance disaster reduction measures and linkages with adaptation financing were proposed at the Global Platform,” the conference report said.
“Institutional innovations proposed included more direct resourcing of local initiatives and groups that are effective in reducing risks, such as grassroots women’s organizations.”
The Philippines has a foreign debt of around $52 billion, draining a huge portion for the national budget for payment of amortizations and interests every year and contributing to a huge deficit.
Through a debt swap, the creditor country cancels a portion of debt. In return, the debtor country invests the canceled amount in development projects according to conditions previously agreed by both parties.
Championed by the Philippines in the United Nations’ system, debt swaps have surfaced on the agenda of some donor or lending countries as a novel way to finance the UN Millennium Development goals.
Some of the projects that can be funded to lessen risks during disasters are the building of safe hospitals and schools, planting mangroves in coastal areas, cleaning up rivers in blighted urban areas and retrofitting unsafe public infrastructures as a protection against imminent earthquake, said the senator.
The Legarda proposal was commended by no less than UN Undersecretary General for Humanitarian Affairs John Holmes who considered it “a noble idea” along with the proposal to use 30 percent of the UN climate adaptation funds for DRR. Presently, 45 percent of the Philippine annual budget goes to debt service.
Source: http://www.lorenlegarda.com.ph/article-1257677621.html
Loren, who is also UN champion for disaster risk reduction in Asia-Pacific, initially made the
proposal during the world parliamentarians’ Global Platform 2009 in Geneva last June as a creative solution to raise funds for disaster risk reduction programs.
In announcing her plan to push her proposal at the Copenhagen conference, Loren said that the “huge devastation and the horrific casualties caused by typhoons Ondoy and Pepeng, as well as rising threats of even greater natural catastrophes in the future, make international cooperation more urgent in combating climate change.”
World parliamentarians adopted Loren’s proposal for a debt-for-risk reduction swap at the Global
Platform 2009 meeting in Geneva as a practical approach to climate change adaptation involving both developed and developing countries.
“It’s a new concept adopted at the UN Global Platform on DRR. This is the easiest because no new funds, financing or resources, are needed. This is a creative way of paying for debt and it’s a creative collaboration between the developed and poor developing nations. In this effort, nobody loses, humanity wins,” said Senator Loren Legarda, the United Nation’s International Strategy for Disaster Reduction (UNISDR) champion for disaster risk reduction and climate change
adaptation in the Asia Pacific region.
In a summary report on the global platform proceedings, the Chair said, “The Global Platform recognized a drastic mismatch between the resources required to address disaster risk in developing countries and those actually available. A massive scaling up of action is needed. Put bluntly, many countries must dedicate substantially more funds from national budgets – or increasingly suffer the consequences. This is also a must for the international community, since some countries suffer from institutional and capacity weaknesses and unless their capacities are strengthened implementation will not succeed.”
“A variety of innovations, such as incentives for retrofitting, risk transfer tools, risk-sensitive development, private sector involvement, debt swaps to finance disaster reduction measures and linkages with adaptation financing were proposed at the Global Platform,” the conference report said.
“Institutional innovations proposed included more direct resourcing of local initiatives and groups that are effective in reducing risks, such as grassroots women’s organizations.”
The Philippines has a foreign debt of around $52 billion, draining a huge portion for the national budget for payment of amortizations and interests every year and contributing to a huge deficit.
Through a debt swap, the creditor country cancels a portion of debt. In return, the debtor country invests the canceled amount in development projects according to conditions previously agreed by both parties.
Championed by the Philippines in the United Nations’ system, debt swaps have surfaced on the agenda of some donor or lending countries as a novel way to finance the UN Millennium Development goals.
Some of the projects that can be funded to lessen risks during disasters are the building of safe hospitals and schools, planting mangroves in coastal areas, cleaning up rivers in blighted urban areas and retrofitting unsafe public infrastructures as a protection against imminent earthquake, said the senator.
The Legarda proposal was commended by no less than UN Undersecretary General for Humanitarian Affairs John Holmes who considered it “a noble idea” along with the proposal to use 30 percent of the UN climate adaptation funds for DRR. Presently, 45 percent of the Philippine annual budget goes to debt service.
Source: http://www.lorenlegarda.com.ph/article-1257677621.html
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