Role of Official Development Assistance in Supporting Financing for Clean Energy - Maria Edita Tan, DOF

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1st Clean Energy Finance and Investment Consultation Workshop: “Unlocking finance and investment for clean energy in the Philippines” 31 May – 1 June 2022, Makati Diamond Residences, Legazpi Village, Makati City

Environment

Role of Ofﬁcial Development
Assistance (ODA) in Supporting
Financing for Clean Energy
Maria Edita Z. Tan
Undersecretary
Department of Finance - Philippines
1st CEFIM Consultation Workshop | 31 May 2022

Climate change in the Philippines
On a long term average basis, the Philippines is expected to incur PHP 177 billion
(USD 3.6 billion) per year in losses to public and private assets due to typhoons
and earthquakes. In the next 50 years, the country has a 40% chance of
experiencing a loss exceeding PHP 989 billion, and a 20% chance of
experiencing a loss exceeding PHP 1,525 billion.

The Philippines demands for
climate justice to be served and
acted upon. Wealthy and
high-emitting countries that
continue to exacerbate greenhouse
gas emissions must accept the
responsibility to pursue carbon
neutrality.
COP26 Outcomes

1st PH Nationally Determined
Contributions (NDC) commits
to a projected Greenhouse Gas
(GHG) emissions reduction
and avoidance of 75%.
● 2.71% unconditional
● 72.29% conditional

Ofﬁcial Development Assistance (ODA)
The Philippines as a climate-vulnerable and developing
country prioritises the need for a balance between the
implementation of sustainable climate actions and its
pursuit of the country’s economic growth and
development potential.

Roles of ODA
1. Preparation, development, and
implementation of pipeline of
infrastructure investments towards clean
energy;
2. Support the formulation of policies that
can enable implementation of clean
energy investments; and
3. Provide environmental, social, and
governance-related technical assistance
to implement clean energy programs and
projects

● Asian Development Bank and ASEAN
Infrastructure Fund Limited are the
development partners and is
implemented by the Department of
Transportation.
● The project enhances pedestrian mobility
and access around key rail stations along
EDSA and provides safe, secure,
efﬁcient, and environment friendly
mobility in public spaces available 24/7.
EDSA Greenways Project

● The ADB ETM is a new initiative that
leverages public and private sector
funding to establish a fair and equitable
blended ﬁnance mechanism for addressing
the problem of coal-ﬁred power.
● Technical and ﬁnancial feasibility work is
underway focusing on three Southeast
Asian developing member countries (DMCs)
with high share of coal power – Indonesia,
Philippines, and Viet Nam.
ADB Energy Transition
Mechanism (ETM)

PH Technical Assistance (TA)
Accelerating Coal to Clean Power
Transition
Integrated High Impact Innovation in
Sustainable Energy Technology
Subproject 1: Energy System Analysis, Technology
Road Maps and Feasibility Studies for Pilot Testing
Subproject 2: Prefeasibility Analysis for Carbon
Capture, Utilization and Storage

Opportunities for
Additional Financing
Climate Investment Fund - Accelerating Coal
Transition (ACT) Program aims to offer a
comprehensive toolkit to support countries
transitioning from coal to clean energy,
tackling challenges linked to national strategies,
people and communities, and land and
infrastructure.

12
Philippine Sustainable
Finance Roadmap and
Guiding Principles
On 20 October 2021, the government
launched the Sustainable Finance
(SF) Roadmap and its Guiding
Principles to synergise public and
private investments towards green
projects and serve as a taxonomy of
sorts for the sustainable ﬁnance
ecosystem in the Philippines,
respectively.

Pursuing the Roadmap’s
Objectives through Working
Clusters
Financing and Investment Pipeline
Sustainable Finance Ecosystem
National Strategy Alignment and Policy
Implementation

Next Steps
• Development of a Sustainable
Finance Pipeline
• Facilitation of investments to
support NDC Implementation
and raising ambitions
Sustainable
Finance Roadmap &
Guiding Principles

More than one-quarter of the world’s population lacks access to clean electricity, while about 2.7 billion people are forced to spend disproportionate amounts of their time and resources on traditional biomass for cooking and heating. Where modern energy services are unavailable, people resort to expensive and unsustainable alternatives, which can exacerbate energy insecurity and leave communities more vulnerable to the effects of climate change. Increasing access to clean, reliable and affordable energy would reduce poverty and accelerate progress toward the Millennium Development Goals. Providing reliable and efficient clean energy to the rural and urban poor can significantly reduce CO 2 emissions, boost productive and income-generating activities and reduce household expenditures for costly and non-environmentally friendly fuels such as kerosene and diesel. Thanks to recent technological developments, efforts to expand access to clean energy now depend less on technology and more on financing arrangements, backed by a policy environment that is focused on serving the poor. The Sustainable Energy for All initiative, recently launched by UN Secretary-General Ban Ki-moon, draws global attention to the importance of energy for sustainable development and poverty alleviation, and calls for specific commitments from the private sector and national governments. The goal is to meet three objectives by 2030: ensuring universal access to modern energy services; doubling the rate of improvement in energy efficiency; and doubling the share of renewable energy in the global energy mix. In response, the UN Capital Development Fund (UNCDF) is partnering with the United Nations Development Programme (UN DP) on CleanStart, a programme to help poor households and micro-entrepreneurs access financing from microfinance institutions for low-cost clean energy. Microfinance institutions, which by definition target low-income clients, are well placed to provide the products and services micro-entrepreneurs need to pursue clean energy opportunities. CleanStart promotes appropriate financing arrangements, supports quality assurance measures for end users, and addresses key gaps in energy value chains to contribute to a mutually beneficial cycle of investment and building awareness, as well as create a new market segment with higher returns for participating institutions. CleanStart aims to help lift at least 2.5 million people out of energy poverty by 2017 and to establish a viable concept for a much wider uptake. This publication shares the experience of UNC DF and UN DP in designing the CleanStart approach, one of the latest endeavours of our respective work in Financial Inclusion and Energy Access for All. It is hoped that by jointly leveraging our respective strengths and combining resources, we can help make the goal of universal access to modern energy services for all a reality.

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