A day before COP28, Marcos turns over climate funds to 6 local governments

MANILA, Philippines – A day before the start of COP28, President Ferdinand Marcos Jr. awarded climate adaptation funds to six local government units during the ceremonial turnover of the People’s Survival Fund (PSF) in Malacañang on Wednesday, November 29.

“This milestone not only reinforces our dedication to climate adaptation, but it also signifies that for the first time, in a remarkably short period, the PSF Board has approved projects of such magnitude,” Marcos said in his speech.

Worth a total of P541.44 million, the PSF was distributed to the following:

Town/Province	Projects	Budget
Mountain Province	Climate field school for farmers	P271.15 million
Maramag, Bukidnon	Installation of drainage and early warning systems	P126.40 million
Borongan City, Eastern Samar	Installation of embankment infrastructure and reforestation for flood control	P117.96 million
Cabagan, Isabela	Solar-powered irrigation system in 3 barangays	P21.28 million
Catanauan, Quezon province	Mangrove rehabilitation	P2.64 million
Besao, Mountain Province	Development grant for resiliency and food security project	P2 million

The turnover brings the number of PSF-funded projects to 11 climate adaptation initiatives and six development grants, according to a statement released by Malacañang.

The PSF was created under Republic Act No. 10174 in 2012, allocating an annual P1-billion replenishable fund to help local government units finance climate adaptation projects. It only received funding in 2015.

Local governments must pass their proposals to the PSF Board, headed by the Department of Finance.

The DOF has said that there have been backlogs in the approval of proposals because of incomplete documents and ineligibility of the projects.

Eligible projects include those that concern water resources management, land management, agriculture and fisheries, health, and other activities that serve as guarantee for the risk insurance needs of farmers and agricultural workers.

The finance department is looking for projects that have “effective combination of engineering and non-engineering interventions, which directly address the area’s climate risks” and are based on scientific and historical data.

While the PSF attests to the Philippines being a “trailblazer in domestic climate finance for adaptation,” Marcos said the country must also take the lead in demanding aid from wealthy countries that aggravate the climate crisis.

In the same event, Marcos confirmed his COP28 attendance.

“We will use this platform to rally the global community and call upon nations to honor their commitments, particularly in climate financing,” he said. – Rappler.com

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