“At least” $300 billion

I was there when the first draft of the 29th Conference of Parties (COP) emerged, specifically the New Collective Quantified Goal on climate finance. When the draft proposed a mere $250 billion annually, outrage rippled through the civil society organizations, especially those from the Philippines. That figure --$250 billion-- was all that was being offered to address loss and damage caused by climate disasters. It was seen as an insult by many, including representatives from our country.

To make matters worse, that amount was supposed to cover the needs of over a hundred developing countries. The leaders of civil society organizations said that the figure would likely lead to more deaths. Without adequate funding to implement climate policies, many nations would simply be unable to act in time to prevent further devastation. Ultimately, after much pressure, the figure was raised to at least $300 billion --a start, but still far from what developing countries had requested. The true figure that many hoped for was $1.3 trillion, a more realistic amount to meet the escalating climate challenges faced by vulnerable nations.

What’s at stake for the Philippines? Well it is simple --the future of our country. We are already bearing the brunt of frequent and devastating typhoons, extreme heat waves, and other climate hazards. While we are often hailed for our resilience in the face of calamity, the international community must recognize this is not enough. Our country needs the financial resources to rebuild faster, build stronger infrastructure, and transition to renewable energy.

The proposals discussed for climate resilience sound good. These include policies for renewable energy, just transition, disaster preparedness, among others. However, they will remain as proposals, until real money is on the table. I commend the private sector and certain local organizations for their efforts in implementing tangible solutions. However, at the national level, the scale of intervention required is far larger, and it would take far more resources to make a true difference.

When the COP delegation left Baku, Azerbaijan, many were unsure if the newly agreed-upon $300 billion would ever materialize. Some negotiators believe the conversation will continue at the next COP, in the hopes that money will actually flow into the allocated funding. For the Philippines, the government must remain steadfast in demanding real funding for loss and damage, and not settle for vague commitments. We must insist on access to these funds in the form of grants, not loans.

The clamor from civil society groups will surely continue until they are heard. My clamor, however, is personal. As someone who has witnessed the devastation of typhoon Yolanda (Haiyan) and typhoon Odette (Rai), I have seen firsthand how long it takes for communities to recover. Even after years, some areas are still struggling to rebuild. The United Nations is meant to be a diplomatic arena where countries work together for the greater good. The challenge is clear: world leaders need to show more ambition, not just for their own agenda, but for the well-being of all.