Jazmin Bonifacio Posted on September 15, 2026 at 3:05 pm
PASAY CITY, Philippines — The Philippines will need to rely heavily on international financing, technology, and partnerships to meet most of its climate commitments, Environment Secretary Juan Miguel T. Cuna said Tuesday, September 15, 2026, as he outlined the government’s plans to cut emissions and move the country toward net zero.
Speaking at the Philippine Net Zero Conference 2026 at the Phil Trade Training Center in Pasay City, Cuna said the country now needs to move beyond climate pledges and focus on putting those commitments into practice.
“Collaborating for a low-carbon future must extend beyond dialogue into structured, accountable execution to bridge the gap between climate ambition and real-economy delivery,” Cuna said.
A 75% emissions target
Under the Philippines’ enhanced 2026 Nationally Determined Contribution (NDC), approved by President Ferdinand R. Marcos Jr., the country has committed to a 75% reduction and avoidance of net greenhouse gas emissions from 2025 to 2035, compared with business-as-usual projections.
But most of that target will depend on support from outside the country.
Only 7% of the target is unconditional, meaning it will be financed and carried out using domestic resources and national capabilities.
The remaining 68% is conditional on international climate finance, technology transfer, and capacity-building support.
Cuna described the NDC not simply as an environmental commitment but as part of the country’s broader economic agenda, with implications for energy security, economic stability, government finances, and social protection.
The government is working on several plans to support implementation, including its Long-Term Strategy, NDC Implementation Plan, Financial and Investment Plan, Carbon Market Policy Framework, and Just Transition Framework.
Looking to carbon markets
One way the government hopes to attract funding for the 68% conditional portion of the target is through carbon markets.
The Department of Environment and Natural Resources (DENR) is developing policies that would allow carbon market mechanisms to bring in private investment from abroad without adding to the country’s debt.
“We welcome international capital, but we will not compromise carbon accounting integrity, double-counting protections, or national rights,” Cuna said.
The Philippines is also developing projects under Article 6 of the Paris Agreement, which provides mechanisms for countries to cooperate in meeting their climate targets.
Among the developments cited by Cuna was the Singapore bilateral agreement, signed on April 30, 2026. The agreement covers the implementation of Article 6.2 and provides a framework for the international transfer of mitigation outcomes, or ITMOs.
The Philippines is also working with Japan under the Joint Crediting Mechanism (JCM). Five methodologies have been approved, including one focused on reducing agricultural emissions through Alternate Wetting and Drying, as well as methodologies covering afforestation and reforestation. Another 31 projects are being developed.
The government is also negotiating bilateral carbon agreements with New Zealand, Hungary, and the Republic of Korea.
Seven Clean Development Mechanism activities are beginning the transition to newer carbon market arrangements, while 14 new mitigation activities have been submitted for prior consideration.
Forests, mangroves, and other natural carbon sinks
Carbon markets are only one part of the government’s approach. The DENR is also putting greater emphasis on forests and coastal ecosystems that can absorb and store carbon.
Through DENR Administrative Order No. 2026-30, the Philippines has aligned its nature-based solutions framework with the IUCN Global Standard.
The country’s forests, mangroves, seagrass areas, and tidal wetlands can all play a role in reducing emissions while providing other benefits to communities.
Cuna particularly pointed to blue carbon ecosystems, such as mangroves and seagrass meadows. Apart from storing carbon, these ecosystems help protect coastal communities from storm surges and other impacts of severe weather.
The DENR also plans to connect sustainable forest management with the rights of communities that depend on forests and other natural resources. This includes securing tenure, recognizing community rights, and ensuring that benefits are shared transparently.
The government’s just-transition plans are intended to address the social impact of the shift to a lower-carbon economy, particularly for vulnerable groups, informal workers, and local communities.
Financing remains the big challenge
For the Philippines, the scale of the funding requirement remains one of the biggest hurdles in meeting its climate targets.
Cuna called on banks, businesses, and international development partners to put more money into projects that support the country’s climate plans.
“We need capital that builds,” Cuna said, urging investors and financial institutions to make green financing more accessible, easier to scale, and less dependent on debt.
He also called on developed countries to meet their commitments under the Paris Agreement, particularly through grants, technology transfer, and direct financing for loss and damage.
Such support, he said, will be critical if the Philippines is to achieve the 68% portion of its emissions target that cannot be financed through domestic resources alone.
“The policy frameworks are set. The opportunities are here. Let us build the bridges together,” Cuna said.
Photos by: Jazmin Bonifacio | The Vanguard
