THE 27th annual Conference of State Parties to the UN Framework Convention on Climate Change, or COP27, opened this week in the Red Sea resort city of Sharm el-Sheikh, Egypt, and to say that global expectations for the summit are low would be an understatement. Nevertheless, it is still an important event for the Philippines and presents an opportunity for this country to strengthen its climate resiliency and response.
The goal of the Paris accord was that $100 billion in funding would be provided annually for countries like the Philippines, but the closest the world has gotten to it was in 2019 when $79 billion was gathered.
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