As the Philippines leads the ASEAN Chairship for 2026, the Department of Finance (DOF) has taken a central role in driving the regional agenda on finance for climate action, resilience, and sustainable development through fiscal policy, public finance, investment and economic solutions, and resource mobilization.
During ASEAN Climate Week 2026 held from April 27 to May 1, 2026, the DOF joined regional and international partners in pushing for practical and finance-driven climate solutions anchored on the ASEAN Community Vision 2045.
In partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the DOF led the “Financing Climate and Biodiversity Action in ASEAN” session on April 28, 2026, utilizing case studies and panel discussions to examine the regional finance landscape.
DOF Climate Finance Policy Director John Adrian Narag detailed a “whole-of-society” strategy to scale up resources by linking domestic assets like the People’s Survival Fund (PSF) with regional mechanisms like SEADRIF and international funding.
“We must integrate climate risks directly into our treasury and fiscal planning to ensure our national budgets serve as strategic shields for our people’s future,” Undersecretary Joven Balbosa said in a statement.
The DOF spearheaded the “Virtual Knowledge Exchange on Climate Finance and Climate Modelling for Economic Planning & Finance Mobilization” on April 29 to 30, 2026 together with the United Nations Development Programme (UNDP) Philippines, UNDP Bangkok Regional Hub, and the UK Foreign, Commonwealth & Development Office (FCDO).
For this session, the DOF emphasized the importance of integrating climate into fiscal design and planning to usher communities toward a low-carbon economy and climate resilience.
The DOF likewise presented the forthcoming Philippines’ Climate Finance Strategy to serve as a blueprint in managing and mobilizing resources to achieve national climate targets.
The Department also supported the development of the Climate-Economy Modelling tool, which helps government agencies make informed decisions to address climate risks and contribute to overall public financial management.
Further reinforcing the Philippines’ global climate leadership, the DOF underscored the nation’s roles as the host of the Board of the Fund for Responding to Loss and Damage (FRLD) and memberships in the key governing structures of multilateral climate funds.
This position is vital for ensuring that the unique needs of vulnerable developing nations are prioritized in the international climate finance landscape as the region prepares for its collective positioning at COP 31 in November 2026.
Coinciding with the ASEAN Climate Week, the DOF participated in the Asian Conference on Climate Change and Disaster Resilience “From Risk to Readiness: Investing in Climate Futures in Asia” on April 30, 2026. The conference was convened by the Asian Institute of Management (AIM) in partnership with the Climate Change Commission (CCC) and other sponsors and partners.
During the panel session, the DOF discussed the country’s Climate and Disaster Risk Financing and Insurance strategy which involves a wide range of financial protection measures from the national funds with innovative financing such as parametric insurance, and financing from bilateral, international, and multilateral partners.
Through its active participation in ASEAN Climate Week 2026, the DOF reaffirms its role as a solutions-oriented leader, dedicated to navigating a sustainable and resilient future for the Philippines and the entire ASEAN community.
