Senate passes People's Survival Fund vs climate change

The Senate has unanimously approved on third and final reading a bill that would establish a fund that would be used to address the problems of the Philippines regarding climate change. Senate Bill 2811 seeks to establish the People's Survival Fund, a special trust fund that would allow local governments and communities to put in place climate-mitigation practices to lessen the destructive impact of natural disasters. “Every year, lack of funding seems to be the main deterrent to solving our country’s problems in dealing with the effects of climate change," said Senate President Juan Ponce Enrile, the principal author of SB 2811. “The PSF is a fund that intends to provide incentives for early adaptation measures by dedicating finances for local resilience-building needs," he added. The other authors include Senators Loren Legarda, Ralph Recto, Franklin Drilon, and Lito Lapid. Enrile said the sooner the People’s Survival Fund is enacted into law, the earlier the government will be able to build “a country that is not only climate-resilient but economically sound as well." “Adaptation finance should always be seen as an investment, and not a cost," he said. Under SB 2811, an amount of P1 billion shall be used for the fund under the General Appropriations Act (GAA). The fund shall be used to improve the country’s forecasting and early warning systems against climate change-related hazards. It shall also improve the monitoring and prevention of diseases triggered by climate change. The fund will also be managed by a board composed of one commissioner from the Climate Change Commission, and representatives from the Department of Finance, Department of Budget and Management, National Economic and Development Authority, Bangko Sentral ng Pilipinas, government financial institutions, business sector and non-government organizations. - Kimberly Jane Tan/KBK, GMA News