‘These are nice policy statements but we have yet to see if the Marcos administration can transform them into concrete results.’
IF the presentation of Finance Secretary Benjamin Diokno before the G20 is any indication, the Philippines will go all out in pursuing the world’s climate change policy, in cooperation with other nations in the Asian region.
Diokno affirmed that President Ferdinand “Bongbong” Marcos Jr. will continue pursuing a whole-of-nation approach in mitigating climate risks, as the country commits to be at the forefront of global climate action. The finance chief attended the G20 high-level breakfast discussion on climate change mitigation last July 16, during which he said the Philippines is one of the countries at highest risk for climate-related disasters. “We are thus determined to be a world leader in this fight against the crisis,” Diokno said.
Finance ministers and central bank governors from the Group of Twenty countries discussed climate-related policy levers to enable the transition towards greener economies. The G20 is composed of 19 countries plus the European Union which together comprises the world’s largest economies and around 60 percent of its population. The Philippines is not a member of G20 but it was invited by our neighbor Indonesia, which is this year’s chair and president of the group.
Diokno’s affirmation of the nation’s climate change policy is just a repeat of what President Marcos mentioned in his inaugural speech, when he identified plastic pollution and climate change as among critical issues his administration will address.
This is in stark contrast to — actually a full reversal of — the avowed policy for former President Rodrigo Duterte who had nothing but contempt for climate change because of his bias against the European Union and the United States. Under Marcos, the Philippines is expected to toe the line in connection with global warming, taking up the challenge along with most members of the international community.
To support the agenda of President Marcos, Diokno said the Department of Finance (DOF) is backing the passage of a bill that would either regulate or tax the use of single-use plastics. He said the DOF is also studying the imposition of a carbon tax in the country.
It is good to know, too, that the country is working with the Asian Development Bank to speed up our transition from coal to clean and renewable energy.
“We will deal with the impact of climate change while bringing down energy costs through developing clean and renewable energy sources, such as hydro, geothermal, wind, and solar power,” Diokno told the G20.
These are nice policy statements but we have yet to see if the Marcos administration can transform them into concrete results.
