MAGKAKASAMA SA SAKAHAN, KAUNLARAN (MAGSASAKA), INC.

magsasakapl@gmail.com

09 February 2023

His Excellency Inchul Kim

Ambassador of the Republic of the Korea in the Philippines
122 Upper McKinley Road, McKinley Town Center, Fort Bonifacio
Taguig City 1634
Philippines

RE: LETTER OF INTENT TO CONSIDER CONTINUED PARTNERSHIP BETWEEN GGGI AND THE PHILIPPINE
GOVERNTMENT IN RESPONSE TO CLIMATE CHANGE URGENT TRANSFORMATIVE ACTION

Dear His Excellencies,

The Southeast Asian region's major economies, which are big consumers of fossil fuels, including the
Philippines. The Philippines has committed to reduce and avoid greenhouse gas (GHG) emissions by 75%
from 2020 to 2030, of which 2.71% is unconditional in the industrial sector. Carbon-neutral or zero-carbon
fuels that can use existing and newly planned infrastructure for natural gas are essential to meet these
ambitious climate goals. Otherwise, the cost of migration will be prohibitive. Green hydrogen and its
derivatives are therefore seen as essential raw materials for a successful energy transition across the
economy.

In the Philippines, the Department of Energy has put a moratorium on new coal-fired power plant
construction and set a goal of 50% of electricity generation coming from renewable sources by 2040. To
do this, countries need to develop the flexibility needed to operate with a higher share of renewable
energy. The Department of Energy (DOE) anticipates increased use of natural gas and has finalized plans
to develop the natural gas sector in 2022. The country has 11.5 GW of coal-fired power plants and 4.5 GW
of gas-fired power plants, with ambitious renewable energy targets and a moratorium on coal-fired power
plants. Investment in gas infrastructure.

In line with the objectives of the United Nations Framework Conventions on Climate Change (UNFCCC)
and the Paris Agreement towards achieving the 1.5 degrees Celsius and in promoting its principles; the
Magsasaka and Bagong Henerasyon Partylists, House of Representatives of the Philippines are one among
in the forefront in providing the necessary platforms to develop climate related policies and its
implementation

In the same manner, we are one with you in delivering an inclusive approach that addresses poverty
reduction, social inclusion, environmental sustainability, and economic growth. The current
administration of the Philippine government is more serious than ever in addressing the climate change.
 MAGKAKASAMA SA SAKAHAN, KAUNLARAN (MAGSASAKA), INC.
magsasakapl@gmail.com

We would like to express our gratitude and sincere appreciation in extending to us the Green Climate
Finance services thru your main implementing body, the Global Green Growth Institute in response to
accelerating the deployment of climate financing to address the worsening and catastrophic climate
change that is threatening the very existence of humankind and every living thing there is.

We understand that part of the mobilized fund from member developed countries of COP is being
allocated to the Philippines, we would like to reiterate our interests to fully participate in its program
implementation for climate change mitigation and adaptation.

Philippines is heavily affected by the caused brought about by the climate change. We suffered the most.
Unusual natural disaster, calamities, unstable food sustainability are the few challenges we are facing now
the needs an urgent transformative action before it’s too late.

Our government is humbled by the kind gesture that your esteemed office enabling to collate resources
and in focus what was then impossible to generate. As your country beneficiary, part of the attributed
funds shall be directed to renewable energy, agriculture, forestry, green infrastructure, and such other
important mechanisms like hydrogen power robust to economic transformation and addressing climate
change.

Towards this end, we look forward working with you in this noble goal.

Very truly yours,

Sgd.
Congressman Roberto Gerard Nazal Jr.
Magsasaka Party List

Cc: Mr. Kyoung Name Shim

Assistant Director
Global Green Growth Institute
Head of Investment
& Policy Solution Division