To usher in a new era of transformative change for a more sustainable, equitable, and greener world, public and private capital needs to reach people, geographies, and economies that need them the most. Both governments and financial markets have begun to demand a stronger integration of the SDGs in public and private investment decisions. The global economy is encouraged to move towards a build back better or divest from fuel/low carbon future/zero net emissions.

How would a low-income country (LIC) such as the Philippines realize this?

 It can be accomplished by involving the public and local governments in learning about the need for a greener economy and how to reduce carbon emissions. Political will to raise funding from other countries to help finance the procedure. Taking a percentage of professionals to countries that are adopting greener technologies for training, and finally creating tough rules that favor greener environments and discourage the use of carbon sources.

Step-by-step explanation

 The best way to progress is to include the public and local government in understanding the need for sustainable improvement and to begin practicing. This is accomplished through the adoption of smart choices such as the use of climate-friendly energy sources such as electric vehicles, the use of solar, wind, and geothermal energy for energy production in our homes, and the widespread use of public transportation, which saves money, protects the environment, and is very efficient.

 Political will that will urge the Philippine government to borrow cash from outside sources in order to expand the economy by utilizing cost-effective, efficient, and low-cost production inputs. Incentives will also be provided with the goal of encouraging citizens to purchase, adapt, and apply effective and efficient production methods. Foreign investors will be recruited as a result, and the economy will grow in the long run.

 The Philippine government will take part in a training program with other nations that have chosen a green economy by sending a delegation to those countries to learn about the technology required to create a greener environment and reduce carbon emissions. They will utilize these to import technology and then train local people on how to use it.

Finally, the government should enact regulations and procedures that prohibit the use of carbon fuels and encourage the use of greener alternatives.

This includes raising tariffs on carbon fuels while lowering levies on renewable energy.