FINANCE Secretary Carlos Dominguez 3rd emphasized the importance of addressing the worsening climate crisis anew, saying the "fate of future generations hangs in the balance" if governments continue to put off implementing "practical and localized" programs to combat global warming.

This, he said, is why the Philippines has decided to pursue grassroots-based climate action projects without waiting for the annual $100-billion climate financing pledged 12 years ago by industrialized nations to developing economies, which are the most vulnerable to the effects of global warming.

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