Representatives of local governments, academic institutions and businesses from Eastern Visayas gathered Wednesday to talk about challenges and opportunities in securing climate and clean energy investments in the region.
The Institute for Climate and Sustainable Cities (ICSC), a Manila-based international policy group, convened the gathering to focus on seeking investments that will promote resilient, low carbon development.
The event was undertaken in cooperation with the Climate Change Commission, Visayas State University’s Institute for Strategic Research and Development Studies, and Action for Economic Reforms.
Dr. Toby Monsod, associate professor of the University of the Philippines School of Economics, talked about how climate change have an effect on the development plans of towns, cities and provinces in Region VIII.
He also said that at least in Eastern Visayas, climate seems to have been integrated in its regional development plan.
"There is still a disconnect in the regional plan between intention and action. Climate change is still more associated with typhoons and other extreme weather events, not with slow onset events such as sea level rise and ocean acidification. Anticipating these impacts presents an opportunity to spur wider, sustainable and inclusive economic transformation,” Dr. Monsod remarked.
National Economic and Development Authority’s Region VIII Director Meylene Rosales said her office supports transformative investments in the region.
She, however, said, it will not be possible without investments.
“No matter how much we talk about good solutions, we can’t do anything without investments,” Rosales said.
Climate Change Commissioner Rachel Herrera said promoting investments in low carbon development will not only be beneficial for the climate but also for the economy.
"As government puts in place the right conditions to attract domestic and foreign low carbon investments, our financial institutions and private banks must sustain and escalate this green growth to reach new heights," she said.