146 b. Amend Climate Change Act, Disaster Risk Reduction and Management Act, and Other Related Regulations to Create a Singular Climate Code In order for the Government to have a unified, holistic, and complete approach to tackling climate change, the Commission recommends that the Philippine Climate Change Act, the Disaster Risk Reduction and Management Act, and all other related regulations the be merged into one complete instrument with the following additions: 1. A legally binding GHG emissions reduction target with reference to the NDCs; 2. A five-year carbon budget or statutory cap on GHG emissions to meet reductions target; 3. Incentive mechanisms to achieve reductions target including tax breaks and subsidies for transitioning to a zero-carbon economy; 4. Fossil fuel exploration and coal plant moratorium; 5. Carbon footprint due diligence and reporting requirements for all public and private enterprises; 6. Annual government review of emission reductions and energy supply decarbonization commitment compliance; 7. Strengthening of disaster risk and climate change mitigation efforts (as opposed to the current emphasis on post-disaster relief and short-term preparedness); 8. Provisions on post-disaster support for economic recovery; 9. Redress mechanisms for victims of climate impacts including compensation for all forms of harm including human rights harm; 10. Mandate corporate contribution to a climate fund which shall be apportioned equally to mitigation, adaptation, post-disaster recovery, and victim compensation; 11. Provide a percentage tax on carbon fuel profits after company taxes to fund climate education; 12. Penal provision for non-compliance with any provisions of the Code.