President Benigno Aquino approved the country's climate change mitigation and adaptation plan, which is set to be implemented after 2020, spokesman Herminio Coloma said in a statement.
The announcement came ahead of upcoming climate change talks in Paris later this year.
"These reductions in emissions are conditional and will be pursued if sufficient financial resources, technology development and transfer, and capacity building will be made available to the Philippines after the Paris climate talks in December," Coloma said.
Experts say this can be achieved if rich nations go ahead with plans to peak carbon emissions by 2020 and developing countries, including the Philippines, do so a decade later.
A total of 136 nations have submitted their initial intended nationally determined contributions to the UN Framework Convention on Climate Change, said Lucille Sering, head of the Philippines Climate Change Commission.