How Climate Change Experts Are Crafting Policies to Cut Disaster Costs: Insights from Manila Standard

Last week, key players in the Philippines met to discuss ways to lessen the blow of climate change on the economy and vulnerable groups. Representatives from 25 national agencies gathered for a two-day workshop at Crowne Plaza Manila Galleria in Quezon City. The goal was to build national strength in understanding the economic effects of climate change and plan for a fair transition.

Ellen Anthony, a Second Secretary from the UK’s Foreign, Commonwealth and Development Office, highlighted the need for long-term strategies. “Climate impacts need long-term thinking,” she said. “The UK stands with the Philippines in tackling climate change. Ignoring it will cost us more than investing now.”

The urgency of the workshop came on the heels of recent severe weather events. The Philippines faced destructive typhoons and heavy monsoon rains just a week prior. Edwine Carrie from the UN Development Program (UNDP) brought attention to the human toll of these disasters. “When the country loses a billion dollars each year due to typhoons, it hits the most vulnerable hardest,” he pointed out. He hopes the workshop will lead to better decision-making that protects local communities.

This workshop is part of the Climate Finance (CFN) project by UNDP, supported by the Department of Finance and funding from the UK through the Climate Action for a Resilient Asia (CARA) program. Experts and policymakers came together to examine a new framework designed to analyze climate change’s effects on the economy.

John Adrian Narag from the Department of Finance emphasized teamwork. He called the workshop a chance to harmonize policies that enhance fiscal resilience against climate risks.

A central piece of this event was a cutting-edge modeling tool that combines climate and economic data to forecast various climate scenarios. The Philippines is one of five countries participating in this pioneering effort, making significant strides in climate-informed planning.

The workshop wrapped up with a push for ongoing cooperation, effective data sharing, and local adaptation of the modeling tool. “While this tool will show the climate change impact on different sectors, it’s up to each country to shape the results,” said Cristina Gregorio, a Regional Climate Finance Specialist. “Every agency should take ownership of the process to choose policy recommendations based on their findings.”

Climate change is not just an environmental issue; it’s also a pressing economic one. According to a recent report from the World Bank, the Philippines could face $1.4 billion in damages annually by 2030 due to climate-related events. Understanding and planning for these impacts is crucial, especially for the most affected communities.

As this discussion continues, the need for proactive policies and community preparedness remains at the forefront of the conversation around climate resilience in the Philippines.



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