PRESS RELEASE November 28, 2024
COP 29 AFTERMATH: NO MORE EMPTY PLEDGES AND COMMITMENTS— IT’S TIME TO DELIVER RESULTS.
Bangkok Thailand: Recently, developed countries made a progressive decision to allocate funds aimed at addressing the severe impacts of climate change. The $300 billion climate finance pledges are intended to support developing countries that are vulnerable to extreme weather events, such as severe typhoons and cyclones. However, this amount is insufficient to tackle what is now referred to as a “climate emergency.”
While it is short of the amount being asked by the global movement for climate justice (5 trillion dollars), these commitments need not be lip service anymore, in light of what is happening around the world. The Agreement of Parties in Paris in 2015 has long been an agony for countries devastated by the climate wrath, due to tedious negotiations from among developed countries and slow delivery of commitments on climate funds, adaptation funds, etc., and with the recent “New Collective Quantified Goal”, there is need from the developing countries to push for its immediate implementation with urgency.
Mr. Noel D. Raboy, the Chairperson of the Philippine Chamber of Cooperatives Inc. and the Chief Executive Officer and President of CLIMBS Life and General Insurance Cooperative addressed the cooperative leaders gathered at the CLIMBS Global Cooperative Summit in Bangkok, Thailand, from November 28 to November 30, 2024. He expressed a heartfelt call for attendees to move beyond mere spectators at this vital global event. He emphasized that “the cooperative movement, standing in solidarity with the worldwide push for climate justice, must actively engage with their governments. Together, we can encourage them to fulfill their obligations, ensuring the timely delivery of commitments to climate financing, including essential initiatives like the loss and damage fund.” This call for action highlights the urgent need for cooperation and advocacy in tackling climate change collectively.
In the Philippines, President Ferdinand R. Marcos Jr. and his administration must find ways to ensure that the developed countries commitments are not just promises but are genuinely implemented at the national level. Additionally, the Philippine National Adaptation Plan 2023-2050 needs to be effectively executed, and all stakeholders should be involved in the processes. The introduction of new policies, including the Loss and Damage Fund Board Act, necessitates the formulation of comprehensive implementing rules where climate justice advocates including cooperative leaders be part in the process. These rules are essential to guarantee that the country is adequately prepared and equipped to effectively utilize climate finance as soon as it becomes available and accessible. Developing these guidelines will help ensure that resources are allocated efficiently and that the nation can respond swiftly to climate-related challenges.
The national government must also actively lobby for the full and immediate implementation of climate finance. Transparency, equitable financing processes, and inclusivity will provide solutions to countries that have suffered so much, but they will also address our common goal of not breaching the 1.5 degrees Celsius threshold.
“We must now take collective action to save our mother earth. After all, we only have one planet to live on, and we must all be concerned about its continued existence,” Mr. Noel D. Raboy emphatically stated.
Contact Person:
Edwin A. Bustillos Executive Director CP# 09178017309
