with Global Green Growth Institute (GGGI) for Republic of the Philippines 09 September 2019 | Entity Support Programme title: Readiness Support to Strengthen Philippines’ Capacity and Knowledge on Accessing GCF Country: Philippines National designated authority: Climate Change Commission Implementing Institution: Global Green Growth Institute Date of first submission: 23 November 2018 Date of current submission / 15 August 2019 version number Readiness and Preparatory Support Page 2 of 19 How to complete this document? - Please visit the Empowering Countries page of the GCF website to download the Readiness Guidebook and learn how to access funding under the GCF Readiness and Preparatory Support Programme. - This document should be completed by National Designated Authorities (NDA) or focal points with support from their Delivery Partners where relevant. Once completed, this document should be submitted to the GCF by the NDA or focal point to [email protected]. - Please be concise. If you need to include any additional information, please attach it to the proposal. - If the Delivery Partner implementing the Readiness support is not a GCF Accredited Entity for project Funding Proposals, please complete the Financial Management Capacity Assessment (FMCA) questionnaire and submit it prior to or with this Readiness proposal. The FMCA is available for download at the Library page of the GCF website. Where to get support? - If you are not sure how to complete this document, or require support, please send an e-mail to [email protected]. - You can also complete as much of this document as you can and then send it to [email protected], copying both the Readiness Delivery Partner and the relevant GCF Country Dialogue Specialist and Regional Advisor. Please refer to the Country Profiles page of the GCF website to identify the relevant GCF Country Dialogue Specialist and Regional Advisor. - We will get back to you within five (5) working days to acknowledge receipt of your submission and discuss the way forward. Note: Environmental and Social Safeguards and Gender Throughout this document, when answering questions and providing details, please make sure to pay special attention to environmental, social and gender issues, particularly to the situation of vulnerable populations, including women and men. Please be specific about proposed actions to address these issues. Consult Annex IV of the Readiness Guidebook for more information. Please submit the completed form to: [email protected] Please use the following naming convention for the file name: “GCF Readiness Proposal-[Country]-[yymmdd]” Readiness and Preparatory Support Page 3 of 19 1. SUMMARY Country name: Philippines Name of institution representing NDA or Focal Point: Climate Change Commission (CCC) Name of contact person: Rachel Anne S. Herrera Contact person’s position: Commissioner and National Focal Point of the National Designated Authority (NDA) to the Green Climate Fund Country (GCF) submitting the Telephone number: +639176797374 proposal Email: [email protected] Full office address: Room 613, First Residences Building, 1557 J.P. Laurel Street, Malacañang Complex, San Miguel, Manila City, Philippines Additional email addresses that need to be copied on correspondences: [email protected] [email protected] Date of initial 23 November 2018 submission Last date of 17 July 2019 Version number V.03 resubmission ☐ National designated authority ☐ Accredited entity ☒ Delivery partner Please provide contact information if the implementing partner is not the NDA/focal point Name of institution: Global Green Growth Institute Which institution Name of official: Hyoeun Jenny Kim will implement the Position: Deputy Director General Readiness and Preparatory Telephone number: +82 70 7117 9968 Support project? Email: [email protected] Full office address: 19F Jeongdong Building, 21-15 Jeongdong-gil Jung-gu, Seoul, 04518, Republic of Korea Additional email addresses that need to be copied on correspondences: [email protected] [email protected] [email protected] Title of the Readiness Support to Strengthen Philippines’ Capacity and Knowledge on Accessing the Readiness Green Climate Fund support proposal Please select the relevant GCF Readiness activity area below (click on the box): ☒ I. Country capacity for engagement with GCF Type of ☐ II. Country programming process Readiness support sought ☐ III. Direct access to climate finance ☐ IV. Climate finance accessed ☐ V. Formulation of national adaptation planning and/or other adaptation planning processes Readiness and Preparatory Support Page 4 of 19 The primary objective of the Readiness Support to Strengthen the Philippines’ Capacity and Knowledge on Accessing the Green Climate Fund or Readiness and Preparatory Support Program (RPSP) is to support the CCC in fully implementing its roles and responsibilities as the designated NDA of the Philippines to the GCF. The proposal also seeks additional institutional support for national capacities of government agencies, civil society organizations (CSOs), and the academe to develop a monitoring and verification system for climate finance flows in the country, as well as to pursue the ratification of a bilateral agreement between the Philippines and Brief summary of GCF on privileges and immunities. the request The primary beneficiary of this request is the CCC being the NDA to the GCF. Included in this proposal are activities intended for building the capacity and empowering the NDA, its Secretariat, and the GCF-TWG towards the institutionalization of effective and efficient implementation mechanisms to carry out the work expected from them (i.e. screening and evaluation of proposals, operationalization of the no-objection procedures (Activity 1.1.1) and a country portfolio analysis to ensure consistency of GCF projects with that of the country’s Nationally Determined Contribution and the Country Programme (Activity 1.1.2)). Total requested USD 300,000 Anticipated duration 18 months amount and currency ☒ Yes ☐ No Since June 2016, the Philippine Green Climate Fund Readiness Program (GCFRP), funded by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), has been implemented through the following development partners with corresponding status of their outputs: 1. World Resources Institute (WRI) – Selection of Landbank of the Philippines (LBP) as the first Philippine Direct Access Entity (DAE) to the GCF for accreditation (completed); Has the country received or is expecting to receive other Readiness and Preparatory 2. United Nations Development Programme (UNDP) – Support funding allocations (including Development of the Country Programme for the GCF including a adaptation planning) from GCF or other pipeline of prioritized climate change programs and projects donors? (ongoing); Development of one (1) Funding Proposal for submission to the GCF (ongoing); and accreditation support for the Development Bank of the Philippines (DBP) and the Foundation for the Philippine Environment (FPE) as DAEs to the GCF for accreditation (ongoing); and 3. United Nations Environment (UNEP) – Support to the preparation of a public-private partnership (PPP) modality to implement climate adaptation and mitigation programs and projects (completed); and Provision of technical assistance to local financial institutions to develop new financial products and services for prioritized climate sectors (completed). The GCFRP prepares developing countries to effectively and efficiently plan for access, management, deployment and monitoring of climate financing, particularly the GCF. In December 2018, the Readiness Support to Enhance Pathways to Green Finance was approved under the Readiness and Preparatory Support Program. To be implemented by the NDA in partnership with the International Finance Corporation (IFC), the Program aims to adopt a broad framework for the Philippine government in supporting commercial and government financial institutions and private stakeholders to access the GCF as well as pioneer and handle green finance initiatives. Readiness and Preparatory Support Page 5 of 19 2. BACKGROUND The Philippines is one of the few mega-biodiverse countries in the world, home to a variety of ecosystems, species, habitats, and natural resources. As an archipelagic country composed of 7,641 islands and situated along the typhoon belt in the Pacific, it is visited by an average of 20 typhoons a year, which, alongside other rapid and slow onset climate events, put at risk more than 100 million Filipinos, especially those living in coastal communities. The 2019 Global Climate Risk Index by the Germanwatch ranked the Philippines fifth among countries most affected by climate change from 1998 to 2017, a two-decade period analysis that further indicated that the country lost an annual average of 0.5% of its GDP due to climate change impacts. Projections are grim as the study by the Asian Development Bank on the economics of climate change warns that the Philippines stands to lose 6% of its GDP annually by 2100 if it disregards climate change risks. But if the country invests 0.5% of its GDP by 2020 in climate change adaptation, it can avert losses of up to 4% of its GDP by 2100–a short-term investment with a long-term, eightfold gain. While the Philippines already supports its own local climate finance mechanism called the People’s Survival Fund (PSF), it is targeted at individual subnational units and funding levels are insufficient