Statement of Glenn Stuart Hodes Climate Policy Expert rice—triggered by reduced supply linked to yield impacts from climate impacts— could keep or push households below the poverty threshold. Communities that are highly embedded in vulnerable marine and coastal ecosystems and dependent on forest resources are also susceptible to displacement or forced migration as result of climate-related hazards and reduced ecosystem functioning and health including from reduced biological and genetic diversity. Total dietary protein from fish is also relatively higher in poorer, coastal households most at risk to climate-related hazards that threaten species loss and catch sustainability. Similar to other Asian countries, the farming population in the Philippines is aging. This exacerbates vulnerabilities to negative impacts. There is also evidence that climate change has a bearing on exacerbating gender equality, as women farmers and fishers face higher risk exposure levels by virtue of having less access to inputs, information, services, and resources to adapt to new circumstances and practices.11 The Government of the Philippines has taken several noteworthy steps to advance climate action, engaging all actors including the private sector. On 23 March 2017, the Philippines ratified the Paris Agreement. According to the Philippines’ Intended Nationally Determined Contribution (NDC) to the Paris Agreement: “the basic foundation for prioritizing adaptation measures is to ensure that loss and damage from climate change and extreme events are minimized to ensure achievement of national development targets through building capacities and enhancing resilience to avoid and mitigate losses in a sustainable manner.” The NDC also acknowledges that “public financing will prioritize adaptation to reduce vulnerability and risks to the community, at the same time providing a policy environment that will enable participation of the private sector to optimize mitigation opportunities and reduce business risks towards a climate smart development.”12 At the same time, the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs) also frames a context for an appropriate response by the Philippines. It recognizes the duty that governments and public institutions bear in ensuring accountability for the effective implementation of commitments including on climate action under SDG 13. It also acknowledges their key role “in providing essential services and public goods and in catalyzing other sources of finance [for sustainable development] … through their enactment of legislation and adoption of budgets. At the same time, businesses are called on “to apply their creativity and innovation to solve sustainable development challenges.” 13 Working towards the SDGs gives businesses an opportunity to mitigate risks and build resilience at a time of growing uncertainty. Potential policy solutions to close climate finance and implementation gaps include: 1) Development of policies, regulations, subsidies and incentives that fully account for and set the price for social and environmental externalities such as greenhouse gas emissions and short-lived climate pollutants. These can reduce investment barriers and opportunity costs to households and firms to invest in 11 FAO, 2017. United Nations Framework Convention on Climate Change. See http://www4.unfccc.int/submissions/INDC/ 13 United Nations. Sustainable Development Knowledge Platform. sustainabledevelopment.un.org/post2015/ 12 3