ADFIAP participated in the Climate Change Commission’s (CCC) “Foreign-assisted Project Teams and Project Management (CCC-FAPMS) Units Coordination and Synergy Meeting” held on January 16, 2020 at the CCC office in Manila.
ADFIAP is an implementing partner of CCC in the United Nations Economic and Social Commission in Asia and the Pacific’s (UN-ESCAP) project called, “Mainstreaming Sustainable Climate Action within the Financial Institutions in the Philippines.” The Philippine Government through CCC’s “The Great Transformative Challenge” offers financial institutions and investors an opportunity to leverage green financing as a growth accelerator for sunrise and climate-positive sectors such as renewable energy, energy efficiency, green buildings, green transportation, climate-smart agriculture and architecture, and others.
The project builds on the network of stakeholders established by UN-ESCAP and CCC through ADFIAP, to promote green finance and raise awareness amongst stakeholders about the opportunities that green finance has to offer and re-orient the financial sector towards low-carbon and climate-resilient investments in the Philippines.
Actions towards this end include: (a) establishing a coherent capacity-building agenda for green financing to build immediate capacity within financial institutions to embed green finance into their lending operations (b) engaging the Bangko Sentral ng Pilipinas (central bank) to lead in “greening the financial sector” (c) signing of a charter by financial institutions that will serve as voluntary, non-binding, and aspirational guidelines for them to move forward in the process of adapting to and promoting climate smart development and (d) establishing a mobile-friendly virtual community of all constituents of the green finance ecosystem that will serve as a platform for sharing knowledge, dissemination of best practices, and opportunities for climate investments.
The agenda of the meeting included the sharing of updates by seventeen (17) project partners under the CCC-FAPMS; inter-project team exchange for project collaboration and synergy; and updates on the latest government climate-related initiatives by Secretary Emmanuel M. De Guzman, Vice Chairperson and Executive Director of the CCC. To further strengthen synergy among the projects, CCC will initiate regular “Convergence Roundtable Discussions” for possible areas of collaboration. Climate finance is a cross-cutting issue among most of the projects, hence, there are good prospects for ADFIAP to link up with the implementing agencies.
ADFIAP was represented by Ms. Cora D. Conde, Group Head, ADFIAP Consulting (AC), who presented updates on the UN-ESCAP Project, and Ms. Cristy Aquino, AC Head for Business Development, and representative to the CCC-FAPMS.