How can one effectively monitor where government spending on climate-related activities is going and measure its impact?
A country that is among the most vulnerable to natural disasters and climate change, the Philippines is introducing a landmark climate finance tagging system as a way to promote greater transparency and accountability of public spending on climate-related activities.
With technical assistance support from the World Bank and co-funding from the Australian government, Philippine government agencies this year started the process of tagging climate-related activities in the proposed 2015 budget, which allocated 136.3 billion Philippine pesos ($3.04 billion) to climate change adaptation and mitigation programs.
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About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
