October 30, 2025 | 12:00am
MANILA, Philippines — The Department of Finance (DOF) has secured nearly P600 million in climate resilience financing to support the country’s efforts in adapting to the impacts of disasters and climate change.
Following its election as a member of the Adaptation Fund, the DOF revealed that it secured its first financing amounting to $10 million or approximately P585.8 million from the fund last April to improve climate-resilient water access in Tawi-Tawi.
It was followed by another grant worth $150,000 this month, or around P8.78 million, to develop a project aimed at boosting Mindanao farmers’ resilience and protecting the country’s food security against climate risk.
In total, the national government has secured around P594.28 million in climate resilience financing to boost adaptation efforts and strengthen communities vulnerable to climate change.
The Adaptation Fund is primarily financed by contributions from governments and private donors, as well as a two-percent share of proceeds from Certified Emission Reductions.
Finance Secretary Ralph Recto said the department’s mandate is to ensure adequate funding for the entire country, especially local communities, to strengthen resilience and preparedness against environmental challenges.
Meanwhile, the board of the People’s Survival Fund has approved 24 climate adaptation initiatives with a total financing commitment of over P1.42 billion.
The initiatives include the establishment and sustainable management of the river ecosystem in Kitcharao, Agusan Del Norte worth P33.48 million.
It also includes building resilience through community-based ecological farming projects that received nearly P34 million to build rainwater catchment facilities, expand water distribution systems and develop a comprehensive framework on water development and management.
“The DOF also supports the country’s renewable energy transition by generating investments through local and international investor roundtable meetings and Philippine Economic Briefings,” the finance department said.
It added that the Fiscal Incentives Review Board facilitates fiscal and non-fiscal incentives for renewable energy investments.
