22 APRIL 2021
22 APRIL 2021, WASHINGTON D.C. – Secretary of Finance Carlos Dominguez III participated in the two-day Climate Summit hosted by the United States that started today to rally the international community in strengthening their climate ambition ahead of the 2021 United Nations Climate Change Conference in November.
“We cannot simply sound the alarm. We need a call to arms. Each person, each community, and each country must do what needs to be done to reverse the destructive course, we ourselves inflicted on our own planet,” Secretary Dominguez said in a pre-recorded message during the breakout session on climate security that was chaired by Defense Secretary Lloyd J. Austin III and participated in by Director of National Intelligence Avril Haines and U.S. Permanent Representative to the United Nations. Ambassador Linda Thomas-Greenfield.
Secretary Dominguez laid down the measures the Philippines is taking to address the climate crisis which include pushing for the passage of a piece of legislation that will ban single-use plastics.
He added that the Philippines wants to become a world leader in drastically reducing greenhouse gases although it only accounts for three- tenths of one percent of global carbon emissions. On 15 April, he disclosed that the Philippines submitted its first nationally determined contribution.
“We have set a target of 75% greenhouse gas emission reduction and avoidance by 2030. This ambitious target was set to challenge both ourselves as well as the rest of the world. It underscores the urgency with which we view this greatest challenge facing the earth today,” he said.
Secretary Dominguez also shared that the Philippines is exploring a financial mechanism to enable the government to improve the generating capacity of the Agus-Pulangi hydroelectric power plant and acquire all coal-fired power plants in Mindanao to repurpose them which will shift most of the energy requirements in that region to hydro power. ###