The planet faces a catastrophic rise in temperature that can cause flooding that will have cascading effects on water availability and food production around the world. In particular, climate change will cause droughts in large sections of the globe, threatening biodiversity and food security for billions of people. The Philippines is among the countries most affected by typhoons, which cause strong winds, heavy rainfall, floods and landslides.
The 2015 Paris Agreement calls for capping global warming at well below 2 degrees Celsius above the pre-industrial level. Unfortunately, the United Nations World Meteorological Organization (WMO) confirmed the fact that 2020 was one of the warmest years on record. In fact, the world is experiencing unprecedented weather extremes in every region and every continent. This has caused the melting of land ice on Antarctica, Greenland and mountain glaciers resulting in the rise of the average global sea level by 3.5 centimeters.
It is common knowledge that the Philippines faces an average of 20 tropical typhoons every year, and in the past 20 years, the country experienced 317 extreme weather events, according to a Manila-based international policy group whose objective is to advance resilience and low carbon development.
In 2019, the major causes of extreme weather damage were strong winds, heavy rainfall, floods and landslides. A recent report of German think thank Germanwatch indicated that globally since 2000, more than 480,000 people were killed, and in terms of the adverse effects on the economy, the total damage was estimated at $2.5 trillion. The likelihood that developing countries will be particularly affected is a fact. What compounded the situation was the coronavirus pandemic, which made it more difficult to cope with the various types of risks caused by climate change.
The private sector in the Philippines is starting to do its part in mitigating climate change. Some banks have of late suspended the financing of investments in coalmines and in companies that generate power using coal and fossil fuels as these cause carbon emissions.
An overlooked risk of climate change is its effect on the health of the population as soaring pollution levels can cause exposures to various ailments such as lung diseases, strokes and heart diseases. Still another danger of climate change is the safety of food and water supplies by fostering organisms that eventually can cause food poisoning and microbial contamination of drinking water. Extreme weather events can also spawn epidemics in areas where people can’t avoid walking through dirty floodwaters. The foregoing is just a limited summary of the health risks linked to global warming.
Recognizing the vital importance of protecting the environment, the Philippines, in partnership with the United States Agency for International Development (USAID), agreed to promote sustainable use of natural resources, expanding access to renewable energy and reducing risks from natural disasters. It is anticipated that this partnership with the support of adequate financial resources will aid greatly in ensuring the success of this bilateral agreement.
President Duterte recently committed to take measures to further mitigate the impact of climate change. Furthermore, prominent private individuals like former US Vice President Al Gore and teenage activist Greta Thunberg are constantly advocating the grave importance of action against climate change, which is not to be ignored as it threatens humanity.
The author is the Editor of Insurance Philippines magazine.