The Japan International Cooperation Agency (JICA) signed a Record of Discussions (R/D) with the government of the Republic of the Philippines on May 6 in Metro Manila, agreeing to an implementation framework for a technical cooperation project entitled “Strengthening Sustainability and Transparency Framework Project. The signing of the Record of Discussions (R/D) was held on the same day. The R/D was signed by Mr. Frederick Go, Minister of Finance of the Republic of the Philippines, and Mr. Takashi Baba, Director of JICA Philippines Office.
Frederick Goh, Minister of Finance Takashi Baba, Director
This project will promote the implementation and monitoring of the country’s climate change measures through capacity building of the Philippine government’s ministries and agencies involved in climate change measures and improvement of their institutions and systems, thereby contributing to the achievement of the country’s Nationally Determined Contribution (NDC) goal under the Paris Agreement.
Through this project, we aim to promote sustainable climate finance in the Philippines, strengthen information disclosure based on corporate sustainability reporting, and enhance the capacity for reporting under the Paris Agreement’s transparency framework. Strengthening corporate sustainability information disclosure that reflects Japan’s knowledge and experience will facilitate investment decisions by Japanese companies in the Philippines, and will also encourage Japanese companies to take climate change into consideration.
In addition, reporting under the transparency framework, particularly strengthening the capacity to develop national greenhouse gas (GHG) inventories, will leverage the knowledge and experience that Japan has accumulated over the years, and improved inventories will lay the foundation for promoting the implementation of Article 6 (market mechanisms) of the Paris Agreement, including the bilateral crediting system (JCM) The inventory improvement will lead to the establishment of a foundation for promoting the implementation of Article 6 (market mechanisms) of the Paris Agreement, including the bilateral crediting system (JCM).
A summary of the business is as follows
Sustainability and Transparency Framework Enhancement Project
Project on Strengthening Sustainability and Transparency Framework
Country (region covered)
Republic of the Philippines (Manila)
Business Objectives
This project will strengthen the implementation and monitoring of climate change measures by strengthening the capacity of Philippine climate change-related ministries and agencies to manage sustainable projects, enhance corporate sustainability reporting, and strengthen the transparency framework, thereby contributing to the promotion of climate change-related initiatives in the Philippines. The project is intended to.
Scheduled implementation period
36 months
Implementing Agency
Department of the Treasury, Department of Environment and Natural Resources, Securities and Exchange Commission
Contribution to the SDGs
Goal 13 (take concrete action on climate change)
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