Home>News>Environment>To The Green Force: Pursue Radical Actions Towards Sustainable National Financing
Environment

To The Green Force: Pursue Radical Actions Towards Sustainable National Financing

Nature Party Philippines Logo

The Makakalikasan – Nature Party Philippines expresses our full support for the implementation of the Sustainable Finance Roadmap and its Guiding Principles, as well as the convening of the government’s Green Force. We believe that these initiatives are crucial in addressing the challenges of sustainable national financing, particularly in the context of the latest data on green and climate action national financing requirements of the Philippines.

According to the latest data, the Philippines needs around Php 6.57 trillion to finance its green and climate action programs, but the government is only able to allocate around 20% of this amount. This highlights the need for urgent action to address the financing gap and ensure that the country’s sustainable development goals are met.

As part of our Sustainable National Financing Green Agenda, we call for the re-negotiation of all relevant domestic and foreign debts for debt reliefs and condonations, while pursuing a decade with no new national debts. We also urge the government to clean up its procurement systems to optimize utilization and plug up leaks of public financing, and nationalize major essential public utilities and oil and natural gas resources rather than rely more heavily on foreign direct investments.

Moreover, we believe that sustainable national financing should provide incentives to redirect a large portion of remittances of OFWs as diaspora investment as well as savings of BPO workers to key green industries as part of the reintegration plan for our OFWs and BPO workers in these both volatile industries.

We also call for the introduction of a carbon tax on trade, fossil fuel, and other environmentally destructive industrial processes and production, as well as new and more taxes on products and services that lead to unsustainable and unhealthy lifestyles while reducing income and value-added tax.

We reiterate our commitment to pursuing sustainable national financing and call on the government to take bold and decisive action to address the financing gap. We believe that by working together, we can build a more sustainable and resilient future for all Filipinos.


References:

  1. Makakalikasan Party Sustainable National Financing Green Agenda
  2. Background article
Journal Online
A collection of noteworthy information on various topics from the Philippines and the rest of the world.
https://journal.com.ph