Port moresby: The Philippines is advocating for the immediate approval of its Third Readiness and Preparatory Support Program (RPSP3) to enhance its climate action initiatives. This was highlighted during the 42nd Board Meeting of the Green Climate Fund (GCF) held in Port Moresby, Papua New Guinea from June 30 to July 3, 2025.

According to Philippines News Agency, the Department of Finance (DOF) aims to secure up to USD10 million in grants under the RPSP3. The program is designed to support the Philippines in developing institutional capacities and governance mechanisms that are essential for a long-term climate action agenda.

The first proposal, seeking a USD7 million grant, intends to fortify the capacity of the DOF as the National Designated Authority (NDA) and to develop strategic instruments that complement the National Adaptation Plan and the Nationally Determined Contributions Implementation Plan. A second proposal is planned to follow, with a potential USD3 million grant, aimed at implementing strategies developed in the first proposal.

The DOF emphasized that both proposals are part of a comprehensive approach to enhance the Philippines' climate finance readiness. Discussions with the GCF included the nation's priority projects and strategies to address selected issues.

The DOF's role as an active alternate board member under the Asia-Pacific Group constituency is instrumental in shaping GCF's policies, ensuring that climate finance aligns with the needs of developing nations.