DENR Secretary Calls for Grant-Based Climate Finance at UNFCCC Conference

Department of Environment and Natural Resources Secretary Juan Miguel T. Cuna spoke at the United Nations Framework Convention on Climate Change conference in Baku. He stated that climate finance should primarily take the form of grants that are directly accessible to vulnerable communities. The Secretary also called for local governments and affected communities to have a direct role in designing adaptation projects, incorporating indigenous and local knowledge.

The Secretary argued that grant-based financing is necessary to reduce loan exposure for vulnerable communities and streamline funding for local governments implementing adaptation schemes. He also questioned whether the Baku to Belém Roadmap mobilizes accessible capital to bridge the annual adaptation finance gap.