MANILA, Philippines — The lack of job security and the high exposure to climate and disaster risks are seen as challenges to the country’s economic growth and human development, making it necessary to make investments in climate resilience and education, according to the United Nations Development Program (UNDP).
During the launch of the UNDP’s 2024 Regional Human Development Report, UNDP Philippines resident representative Selva Ramachandran said while the country has made good progress on human development, there are challenges that need to be addressed.
The report showed that the Philippines’ human development index (HDI) score has increased from 0.598 in the 1990s to 0.699 in 2021.
Based on its latest HDI score, which evaluates the country’s development beyond economic growth by looking at the well-being and capabilities of people, the Philippines ranks seventh in Southeast Asia, 16th in Asia-Pacific and 116th in the world.
Despite the trajectory in development and also in terms of economic growth, UNDP Philippines deputy resident representative Edwine Carrie said the sense of anxiety among Filipinos in terms of keeping or accessing new jobs was the highest in Southeast Asia.
“So what it does tell you is you’re in a country which is really on a path of accelerated growth. But inside, you’re not,” he said.
He said climate change also poses a threat to the Philippines’ human development, with the country being among the most exposed to climate and disaster risks.
The country faces an average of 20 typhoons and storms, and at least 100 earthquakes per year.
Based on data from the national government, the Philippines has incurred about $10 billion worth of losses from climate-related hazards from 2010 to 2020.
“Climate change is not an environmental issue anymore. Climate change is a key development issue. So how one can invest more in this dynamic particularly the resilience issue will become key,” Ramachandran said.
Carrie said there is an economic argument that for every dollar spent in resilience and preparedness, one can avoid $4 to $5 of damages and losses, and protect people’s lives.
“A lot of impacts in those disasters are not only economic. They have people who lose their jobs because their lives have been wiped out by a typhoon etc,” he said.
Investments in education will also be important in advancing human development, Ramachandran said.
“Investment in education is key and a lot of countries moved very quickly because of the investment in the education sector in educating your own children. We lift up a lot of people out of poverty and that’s the talent that will contribute to the country,” he said.