Biz forum on power plants conducted in Cebu

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00:00The Philippines, represented by the Department of Finance, is spearheading efforts to increase

00:05climate finance for vulnerable countries at the 29th UN Climate Change Conference in Baku,

00:11Azerbaijan. Based on the information gathered by the Philippine News Agency,

00:16the DOF is advocating for an initial annual climate finance goal of 1.3 trillion dollars

00:23from developed nations to support adaptation, mitigation, and loss and damage efforts that

00:28address the urgent needs of developing countries. Chief of Staff and Under-Secretary Marielo

00:33Elhati-Dorota and Tuseko leads the DOF delegation in negotiations for the post-2025 new collective

00:41quantified goal to address developing countries' climate needs. The nation is advocating for

00:46simpler, more transparent, and fair financing processes to improve access, focusing on direct

00:52access to financial mechanisms, support for country-led strategies, and increased capacity

00:57building efforts.

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