As extreme weather events continue to increase due to climate change in the Philippines and around the world, the need for funding from the government and private sector for disaster risk reduction (DRR) and climate solutions is intensifying. This was emphasized at the Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) 2024, where different countries shared their strategies to be better prepared for natural disasters.
Asian Development Bank (ADB) President Masatsugu Asakawa highlighted the importance of international cooperation in financing climate resilience. He mentioned that global institutions play a major role in providing financial support and expertise for DRR efforts. The ADB has committed $100 billion for climate financing from 2019 to 2027, and a portion of it is focused on climate change adaptation, especially for the poorest countries.
Here in the Philippines, several large companies such as Ayala Corporation are taking steps towards climate resilience. Chairman Jaime Augusto Zobel de Ayala shared how their businesses integrated climate financing into their operations. For example, Globe Telecom strengthened their cell towers after Typhoon Haiyan, and in Ayala Land, they use disaster-related data in their estate planning to ensure that their properties are sustainable and disaster-resistant.
The conference also highlights the importance of collaboration between the public and private sectors. An example is Japan, where the government and retail stores partner to ensure a continuous supply of relief goods during disasters.
As disasters caused by climate change become more frequent, the Department of Environment and Natural Resources has emphasized the need for rapid and integrated action that combines traditional knowledge and data-driven strategies. According to Environment Secretary Maria Antonia Yulo-Loyzaga, investments in science, innovation, and risk-informed planning will shape the future of communities and reduce disaster risks.
President Ferdinand Marcos Jr. opened. the biennial conference by calling for stronger international frameworks that will help countries in the region improve disaster mitigation and ensure the protection of lives and livelihoods.
