MANILA — The Climate Change Commission is working to turn the Philippines’ climate adaptation priorities into investment-ready projects as it seeks more funding for initiatives that can protect communities from climate risks.
The CCC convened the first meeting of the Steering Committee of the Adaptation Investment Platform (AIP) on Sept. 3, bringing together government agencies, project proponents, financial institutions and development partners to advance the country’s National Adaptation Plan.
The AIP aims to connect locally led, NAP-aligned projects with public, private and concessional financing. It also seeks to address common barriers that keep adaptation projects from moving forward, including limited project readiness, financing gaps and fragmented institutional arrangements.
CCC Vice Chairperson and Executive Director Robert E.A. Borje said adaptation plans must lead to actual investments and actions that make a difference in communities.
“An adaptation plan becomes consequential only when it begins to change decisions: where the government directs public resources, which projects financial institutions support, and whether investment reaches communities before climate risk becomes climate loss,” Borje said.
The Philippines adopted its National Adaptation Plan in April 2024 through CCC Resolution No. 2024-003. Developed under the leadership of President Ferdinand R. Marcos Jr., the plan identifies adaptation priorities across eight sectors and estimates the annual economic cost of climate inaction at ₱645 billion.
The Philippines became the third Southeast Asian country and the 56th country in the world to submit its NAP to the United Nations Framework Convention on Climate Change.
While the NAP sets the country's policy direction for climate adaptation, Borje said the government also needs a credible pipeline of projects that can attract financing and deliver measurable results.
The AIP's initial pipeline includes three projects in Negros Occidental and Iloilo, provinces classified within the NAP's high-exposure band. As of Aug. 25, ₱59 million had been deployed, while another ₱225 million had been identified for possible deployment over the next 12 months.
Borje cautioned that the figures represent projected results rather than completed outcomes.
“These are projected results, not yet accomplishments. Our responsibility is to build the governance, financing, and delivery arrangements that can turn them into verified outcomes,” he said.
Building a project pipeline
The first Steering Committee meeting focused on establishing the AIP's governance and institutional arrangements, advancing the initial project pipeline and identifying sustainable financing options for NAP implementation.
The CCC said investments supported through the platform must remain aligned with NAP priorities, create meaningful opportunities for local governments and institutions, and produce results that can be tracked through the NAP's monitoring, evaluation, accountability and learning system.
The regional exchange also brought together stakeholders working on SME development, finance and sustainability, highlighting the need to connect climate adaptation with practical investments and business activity.
For Borje, the ultimate measure of adaptation investment is its impact on communities facing climate risks.
“Let us make sure that capital reaches the farm; that an investment becomes avoided loss, protected income, and greater security; and that the promise of the National Adaptation Plan is felt where climate risk is already lived,” he said. PR
