Earth Security launches new programme in the Philippines to help local municipal mayors to access adaptation finance
December 2, 2020
In one of the worst typhoon seasons to ever hit the Philippines, Earth Security and the Asian Institute of Management launched the ‘Bridging Leaders Initiative for Climate Resilience’ (BLICR). The programme brings together 10 mayors from municipalities that are vulnerable to climate change with 10 private sector companies seeking to build greater resilience in their supply chains. The aim is to bridge these leaders to create a step-change in financing partnerships that are available in the country to support nature-based climate resilience and a green recovery at the local level.
The ten municipalities that have been selected are the first point of land contact for typhoons that are barrelling into the Philippines at an ever-increasing strength and frequency. Nature-based solutions, such as dense mangrove forests, act as a cost-effective way to increase coastal protection, while bringing other economic benefits such as the recovery of fisheries and eco-tourism.
Earth Security partnered with AIM’s TeaM Energy Center for Bridging Leadership, leveraging a their expertise in leadership training and mentorship, and providing innovative climate and nature-based financing opportunities. Earth Security’s programme in the Philippines, which also involves bringing insurance companies and banks into the process, is funded by the International Climate Initiative of the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU).
With over 50 applications from Local Government Units and private companies, the demand for capacity building and innovative financing partnerships is very high in a country that is among the most vulnerable to climate change.
The final list of ten mayors include: Del Carmen, Surigao del Norte; Barugo, Leyte; Bayabas, Surigao del Sur; Borongan City, Eastern Samar; Cagayancillo, Palawan; Maluso, Basilan; Pagbilao, Quezon Province; San Roque, Northern Samar; Sipalay City, Negros Occidental; Tagum City, Davao del Norte.
The participating companies include Ayala Corporation, Bechtel Overseas Corporation, Business for Sustainable Development-Philippines, First Gen Corporation, Hijo Resources, Philam Foundation, Pilipinas Shell Foundation, RD Foundation, San Miguel Foundation, and SM Prime.
As one of the countries in the region hit hardest by COVID-19, this timely programme highlights opportunities for nature-based investments in resilience to contribute to the green economic recovery of coastal communities.
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