Philippines wants access to climate fund

With the Philippines still reeling from the catastrophic impact of typhoons Ondoy and Pepeng, the government appealed to the United Nations to open up the Climate Change Adaptation Fund (CCAF) to help nations like the Philippines adjust to climate change. Presidential Adviser on Global Warming and Climate Change Heherson Alvarez pushed for a “Voluntary Emission Reduction & Climate Risk Insurance,” which seeks to establish a global levy of US$2.00 per ton of carbon dioxide, or US$0.50 cents per liter of gasoline, whereby 60% will be left to the country taxed, while 40% will go to a multilateral adaptation fund. “The fund, which is expected to earn US$34 billion annually, may be used for relief and rehabilitation of affected areas. Archipelagic nations like the Philippines are most vulnerable to the impacts of climate change. We welcome both funding schemes as a way to help us cope with droughts, mudslides and rising seas, among others,” he said. (October 12, 2009)