Climate Change Risks $466B Annual Losses Philippines, Cuts 13% GDP by 2040

Senator Loren Legarda has issued a stern warning about the severe economic and human costs of climate change in the Philippines, urging urgent local and national action. She highlighted that nearly 43 million Filipinos were displaced by climate-related disasters between 2014 and 2023, and projected that by 2030, extreme heat alone could cause annual productivity losses of PHP466 billion. The Philippines has been ranked the most at-risk country worldwide for climate change impacts for 16 consecutive years due to frequent typhoons, extreme heat, and flooding. Legarda emphasized that climate inaction could reduce the country's GDP by 13% by 2040, underscoring the critical role of Local Government Units (LGUs) in disaster preparedness and response. The Climate Change Commission's ACT Local Programme aims to help LGUs develop and strengthen Local Climate Change Action Plans (LCCAPs), promoting community-driven solutions that reflect local needs and experiences. She called for genuine climate resilience efforts beyond buzzwords, warning that failure to act threatens lives, livelihoods, and the nation’s future.