MANILA – The Philippines called for structural reforms in global climate finance and the immediate delivery of loss and damage funding during the opening of Italy’s Pavilion at the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye on Monday.
In a news release on Tuesday, the Department of Environment and Natural Resources (DENR) said Secretary Juan Miguel Cuna, who leads the Philippine delegation, urged international financial institutions and developed nations to streamline capital flows to vulnerable countries facing severe climate risks.
Speaking on behalf of the Philippines, which holds the 2026 ASEAN Chairship, Cuna said developing countries still face enormous hurdles in securing the trillions in climate finance needed for mitigation and adaptation.
“Raising global ambition is meaningless without creating the financial architecture to deliver it,” he said.
The launch event, co-hosted by Italy’s Ministry of Environment and sustainability platform illuminem, featured key climate figures including Italy’s Special Envoy for Climate Change Francesco Corvaro and Loss and Damage Fund Executive Director Ibrahima Cheikh Diong.
Cuna warned that for archipelagic countries in Southeast Asia such as the Philippines, failing to limit global warming to 1.5°C brings direct, immediate consequences.
“Science warns us that we are approaching or temporarily exceeding the 1.5°C warming threshold,” he said.
Cuna said a temperature overshoot is not a statistical anomaly as it manifests as severe storm surges, rapid biodiversity loss, and immediate threats to coastal economies, agricultural security, and human lives.
He also underscored the current global oil crisis and the renewable energy transition as countries face extreme economic risk from continued reliance on imported fossil fuels, and the unfunded climate financing gap required for mitigation and adaptation, as some hard realities faced by developing nations.
To fix the broken pipeline between international commitments and real-world implementation, Cuna cited three core financial and operational demands, namely: expedited Loss and Damage funding; structural reform for private capital; and regional data transparency.
He said accelerating the shift to renewable power protects developing economies from inflation caused by volatile global oil markets, calling clean energy a cornerstone of national security.
Cuna also urged summit delegates to ensure that COP31 delivers tangible results rather than unfulfilled pledges.
“The true measure of COP31 will not be judged by the statements we deliver, but by the tangible protection and resilience we secure for our people and our planet,” he added. (Marita Moaje/PNA)
