green bonds in the offshore debt market to help raise funds for clean energy projects and other sustainable initiatives to mitigate the impact of the worsening climate crisis.
“We cannot wait for the bureaucrats in the industrialized world to take their sweet time splitting hairs on the idea that the countries that polluted and continue to pollute the most must bear the greater part of the financial burden of reversing global warming that they started 175 years ago. This is, for us, the essential meaning of climate justice,” said Dominguez in a pre-recorded message to the European Chamber of Commerce of the Philippines.
Dominguez said the Philippines is determined to move ahead with fulfilling its climate ambitions, “on its own, if necessary,” although he pointed out that as an emerging economy, the country could not fully achieve its carbon-reduction commitments without financial support from wealthier countries.