Legarda Explores Ways with Christiana Figueres to Accelerate Finance Flows for RE in the PHL and the World

Senator Loren Legarda today met with Ms. Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) and currently the Convenor of Mission 2020, to discuss ways how to further unlock investments to scale up clean and renewable energy development in the country and the world.

Legarda, UNISDR Global Champion for Resilience and UNFCCC National Adaptation Plan Champion, shared that transitioning towards a low carbon economy remains a challenge, but the potential economic returns, as well as the advantages in reducing climate and disaster risks, will be massive.

“I’m proud to champion the policies and laws in place for us to transition towards a low carbon and sustainable path, but I agree, the challenge really is to operationalize these, and at the same time, to mobilize resources and innovation from the private sector and business community,” Legarda stressed.

Legarda said that Figueres is in the Philippines to discuss opportunities with public and private sector leaders for accelerating the transition towards a lower-emissions Asian economy and creating space for governments to enhance their commitments under the Paris Agreement, in preparation for the UN Secretary-General’s Summit in September 2019.

Legarda also noted that it was during Figueres’ term as UNFCCC Executive Secretary that the historic Paris Agreement was signed. She recalled Figueres’ visit to the Philippines to witness the launch of the Manila Call to Action on Climate Change in Malacañang and to visit Yolanda-hit towns in Eastern Samar in 2015.

“The Philippines is among the many developing countries that emit less than 1% of the total global GHG. There is no debate that we did not cause climate change, but we must take it upon ourselves not to contribute further to this crisis. We must set targets to keep global temperature rise to 1.5°C by reducing global GHG emissions by 45% of 2010 levels by 2030 and to zero by mid-century,” Legarda concluded.