ADB presses RP to adopt steps vs climate change

MANILA, Philippines - The Asian Development Bank (ADB) has underscored the need for the Philippines to adopt more measures to mitigate global climate change.

Juzhong Zhuang, ADB assistant chief economist, noted that the Philippine government has already taken steps towards climate change mitigation and adaptation with the signing of two significant laws – the Renewable Energy Law and the recent Climate Change Law creating a Climate Change Commission.

However, he said while “the region is already adapting, more needs to be done.”

Zhuang stressed the importance of climate-proofing societies through adaptation measures, including better water management and flood defenses, better health surveillance and disease prevention, and safeguarding forests.

He added that mitigation through the use of renewable energy sources and raising energy efficiency must also be implemented.

Zhuang said even in the face of uncertainties in the science of climate change, governments cannot take the risk of inaction.

“If action is not taken now, it would be too late,” Alan Silayan, managing director of Carbon Finance Solutions, added.

He said even if all the present assumptions are wrong, shifting to a low-carbon economy would still greatly benefit the environment and its contribution to sustainable development.

Zhuang pointed to an ADB report released earlier this year that showed the effects of global warming in Indonesia, Thailand, Vietnam and the Philippines. Temperatures in the four countries are projected to rise 4.8 degrees Celsius by 2100 and the global mean sea level is projected to rise by 70 centimeters during that same period.

The report warned that if the world continues its “business as usual” approach, the mean cost of climate change for the four countries could be equivalent to losing 6.7 percent of combined GDP each year by 2100 - more than twice the global average loss – if market and non-market impacts and catastrophic risks are considered.