Gov’t earmarks 1 billion for climate change
The national government has earmarked 1 billion for People’s Survival Fund (PSF) that will soon be ready to be accessed by local government units (LGUs) and local and community organizations for their climate change adaptation projects.
In a statement, the Department of Finance (DOF) said yesterday that the 1 billion budget will be used fund to protect those most vulnerable from the effects of climate change.
The PSF, created by Republic Act 10174, will enable the government to address the problem of climate change.
The law also mandates the creation of a board, headed by the finance secretary, to provide overall strategic guidance in the management and use of the fund.
Its members are the vice chairperson of the Climate Change Commission, secretary of the Department of Budget and Management (DBM), director general of the National Economic and Development Authority (NEDA).
The board also included secretary of the Department of the Interior and Local Government (DILG), chairperson of the Philippine Commission on Women, representative from the academe and scientific community, business sector, and non-government as organizations (NGOs).
Specifically, the fund is intended for adaptation activities that include water resources management, land management, agriculture and fisheries, health, among others, and serve as guarantee for risk insurance needs for farmers, agricultural workers and other stakeholders.
It will also be used for establishing regional centers and information networks and strengthening of existing ones to support climate change adaptation initiatives and projects.
The fund will also be used for setting up of forecasting and early warning systems against climate-related hazards, support institutional development such as preventive measures, planning, preparedness and management of impacts relating to climate change, including contingency planning for droughts and floods.
At present, the PSF Board is finalizing details for the implementation of the fund. A Call for Proposal will be available in the coming days and requests for the application can be sent to psf@ climate.gov.ph. The Climate Change Office-Climate Change Commission, as Secretariat to the PSF Board, is tasked to receive and pre-assess the proposals.