Philippines sets up climate change fund

Aug 21, 2012
Residents wade through a flooded street in the town of Navotas in suburban Manila on August 2, 2012, after heavy rains and strong winds were brought about by Typhoon Saola. Philippine President Benigno Aquino has signed a law creating a one billion peso (about $24 million) "survival fund" to combat the effects of climate change, a government official said Tuesday.

Philippine President Benigno Aquino has signed a law creating a one billion peso (about $24 million) "survival fund" to combat the effects of climate change, a government official said Tuesday.

The law is meant to fund climate adaptation projects in a country battered by about 20 typhoons a year that cause large-scale deaths and damage, said Climate Change Commission deputy head Mary Anne Lucille Sering.

Philippine officials as well as international experts have said the growing intensity of the annual typhoons are a result of climate change.

"Now, we have the means to make our communities safer against the intensifying ," Sering said in a statement.

The law, signed Friday, would use the survival fund to bankroll projects in and boost forecasting and early warning systems for climate-related hazards, Sering said.

It would also be used to guarantee risk insurance for farmers in case of , she added.

Explore further: New solutions needed to recycle fracking water

add to favorites email to friend print save as pdf

Related Stories

Climate change disasters could be predicted

Jun 19, 2011

Climate change disasters, such as the melting of the Greenland ice sheet, dieback of the Amazon rainforest or collapse of the Atlantic overturning circulation, could be predicted according to University of Exeter research.

Climate change leads to lawsuits

May 26, 2007

A new book says concern about global warming is causing U.S. corporations and law practices to taken on more litigation.

55 million years of climate change

Jun 27, 2011

State-of-the-art climate models, as used in the assessments of the Intergovernmental Panel for Climate Change, could be giving a false sense of security in terms of upcoming abrupt change, suggests a Commentary ...

UN panel: New taxes needed for a climate fund

Aug 05, 2010

(AP) -- British economist Nicholas Stern says a U.N. economic panel is discussing carbon taxes, add-ons to international air fares and a levy on cross-border money transfers as ways to raise $100 billion a year to fight ...

Recommended for you

New solutions needed to recycle fracking water

10 hours ago

Rice University scientists have produced a detailed analysis of water produced by hydraulic fracturing (aka fracking) of three gas reservoirs and suggested environmentally friendly remedies are needed to ...

Feds allows logging after huge California wildfire

20 hours ago

The U.S. Forest Service has decided to allow logging on nearly 52 square miles of the Sierra Nevada burned last year in a massive California wildfire, a move contested by environmentalists.

User comments : 0