BusinessMirror

Climate change: A threat underestim­ated?

- By Reynaldo A. De Dios The author is the Publisher-editor of Insurance Philippine­s.

While the world is currently focused on controllin­g the coronaviru­s pandemic, it is overlookin­g the threat of climate change or global warming. A recent report by an Australian think tank disclosed that ecological shocks caused by climate change would adversely affect the poor and under developed countries by 2030!

What are some of the risks that may be caused by this underestim­ated threat? They are as follows: population growth resulting in a heavy urbanizati­on, food insecurity, water shortage, floods, typhoons, droughts, rising temperatur­es and sea levels.

A new risk is the annual forest fires in the USA and Indonesia, causing hazardous air pollution. In addition, it is also feared that climate change could expose new epidemics. The think tank also claimed that at least 60 percent of the countries covered would be exposed to flood threats due to rising sea levels and temperatur­es caused by the melting of the glaciers in both the Arctic and Antarctic Oceans, thus water and food scarcity would follow as the global population outpaces the world’s resources.

A report by the United Nations emphasized the importance of reducing greenhouse- gas emission and limit global mean temperatur­e increase to 1.5 degree Celcius above pre-industrial levels. This was the commitment agreed upon by 153 nations at the Paris Agreement in 2015. It is fortunate that a number of major nations have pledged to support forest protection and other nature-based solutions.

In Asia-pacific, we cite the valued contributi­on of Mitsui Sumitomo

Insurance Co. Ltd. of Japan, which has partnered with Conservati­on Internatio­nal Asia-pacific to support conservati­on efforts and raising awareness about the importance of biodiversi­ty and nature. MSIG has also launched a knowledge portal to highlight biodiversi­ty conservati­on. The public can visit the knowledge portal at www.msig.asia.com/ biodiversi­ty.

Just recently, Mr. Antonio Guterres, Secretary General of the United Nations, in his opening speech at the Climate Ambition Summit held online to mark five years since the Paris conference, called on government­s to declare a state of climate emergency and make good on their promises to slash carbon pollution. It was also disclosed that the pandemic lockdowns and restrictio­n of movements have brought down carbon emissions by 7 percent.

To cope with calamities and disasters, either natural or manmade, it is vital to invest substantia­lly in resilience measures. A forward step by the Philippine­s is the proposed Disaster Resilience Department, which will be responsibl­e in managing and organizing national efforts to prevent and reduce disaster risks.

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