The Philippines and the United Nations Development Program (UNDP) are working with Canada to reduce the climate finance gap through nature-based solutions projects funded under a $5.3-billion climate finance commitment, the Presidential Communications Office (PCO) said.

In a statement, the PCO said Canada has increased its support for the Philippines in promoting biodiversity conservation, climate change mitigation, adaptation, and resilience while considering gender equality.

According to Global Affairs Canada Climate Finance Executive Director Andrew Hurst, Canada will stay engaged in climate finance and bilateral assistance programs in the Philippines.

"To the extent that good things come out of this project, then the results that are generated will continue to look for opportunities to build on and also work together in the future," he said.

Hurst said the project, which will run until 2026, addresses several persistent issues through a single intervention or in an integrated way.

"That includes trying to reduce poverty, trying to address gender inequality…trying to support communities that are often dependent on nature for their livelihoods while also looking to conserve and sustain…biodiversity," he said.  

The Canadian official added that their project covers research and knowledge-sharing activities.

"It's also looking at ways to encourage the private sector, both international and Filipino investors looking for opportunities to invest in these kinds of solutions," Hurst said.

Hurst hopes that the efforts under this project can generate ideas and form creative solutions that may have a life beyond the end of the project.

Meanwhile, Hurst highlighted the diversity of stakeholders involved in the project, from the local level, communities, national government, and private sector, noting the uniqueness of arrangements which will hopefully "stimulate some more efforts on cooperation in the future."