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Senator Legarda: Climate Inaction May Cost Philippine Billions, Cut 13% Of GDP By 2040

Senator Legarda voices concerns over the impact of climate inaction on the economy and lives of Filipinos, stressing the importance of a prompt response.

Senator Legarda: Climate Inaction May Cost Philippine Billions, Cut 13% Of GDP By 2040

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Senator Loren Legarda on Wednesday warned that the Philippines could suffer massive economic losses and displacement of millions of Filipinos if climate inaction persists, stressing the need for urgent and localized responses to the climate crisis.

Speaking at the launch of the Accelerating Climate Action and Transformation (ACT) Local Programme in Sibalom, Antique, Legarda said that climate change impacts such as extreme heat could result in annual productivity losses of billions of pesos by 2030.

“It was previously reported that between 2014 and 2023, nearly 43 million Filipinos were displaced due to disasters. By 2030, the projected cost of productivity loss here in the Philippines from extreme heat alone could reach PHP466 billion annually,” she said in a news release.

She cited data showing that the World Risk Index has consistently ranked the Philippines as the most at-risk country to climate change for the 16th consecutive year, mainly due to its exposure to frequent and destructive typhoons.

Legarda further warned that continued inaction may lead to a 13 percent reduction in the country’s gross domestic product (GDP) by 2040.

As author of the Climate Change Act of 2009, Legarda underscored the crucial role of local government units (LGUs) in ensuring community resilience during natural disasters, noting that they serve as the first line of defense for the public.

She emphasized the importance of the ACT Local Programme in assisting LGUs to formulate their Local Climate Change Action Plans (LCCAPs), especially amid challenges in data gathering and technical capacity.

“Ang pagpapatibay ng LCCAP ay isang mahalagang hakbang upang matiyak na ang Antique ay magiging mas ligtas at higit na handa sa pagtugon sa mga hamon at suliraning may kinalaman sa kalikasan (Strengthening the LCCAP is an important step to ensure that Antique becomes safer and more prepared in addressing environmental challenges),” Legarda said.

While the national government can provide resources, she said climate resilience must be anchored in the experiences and participation of local communities. (PNA)