Philippine Standard time

Addressing Loss and Damage at a Glance


Despite national and global efforts in climate mitigation and adaptation, the Philippines continues to experience rising "loss and damage" (L&D)—the adverse impacts of climate change that persist beyond these interventions. These impacts, including infrastructure destruction and displacement, already cost an estimated 1.2% to 4.6% of GDP annually. Between 2015 and 2022, the government spent nearly PhP2 trillion on disaster risk reduction and management, yet persistent gaps in L&D accounting, financing, technical capacity, and coordination hinder an effective response. From 2006 to 2023, economic losses totaled PhP741 billion, while non-economic losses, such as lives and cultural heritage, remain immeasurable.
 
This paper highlights the urgent need to strengthen L&D accounting, build technical capacity, and improve inter-agency coordination. It recommends investments in early warning systems, shock-responsive social protection, and integration of L&D financing into national planning. It further calls for promoting climate-resilient land use, expanding insurance access, and enhancing engagement in global climate negotiations. Strengthening these systems is vital to safeguarding development gains and building resilience against escalating climate risks.

 


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