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It is essential to incorporate climate action into an economic plan: NEDA

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As a result of the effects of climate change, integrating climate action into the nation’s development strategy is now essential, according to Secretary of Socioeconomic Planning Arsenio Balisacan.

The upcoming Philippine Development Plan (PDP) 2023-2028 will include actionable plans to help the country pursue a greener economy and more sustainable, affordable, and livable residential areas in the following six years, according to Balisacan, who delivered the keynote address at the report’s launch on Tuesday.

Incorporating climate action into our economic plans is absolutely necessary, according to Balisacan, who is also the head of the National Economic and Development Authority (NEDA).

He claimed that the Philippines needs this urgently since, in comparison to other countries, it experiences more severe weather.

The Philippines also suffers from a persistent ecological deficit, meaning that our population’s influence on the environment exceeds the capacity of the land. These extreme weather patterns brought on by climate change will regularly displace more communities, disrupt more economic activity, and destroy more agricultural systems if we do not act quickly, he continued.

According to the World Bank assessment, the Philippines is susceptible to climate change effects that, if not handled, could eventually have an influence on its economic growth.

The mechanisms involving carbon pricing and encouraging local government units to concentrate on more climate-friendly projects like electric vehicles, sustainable tourism, biodiversity protection, and energy efficiency are among the priority actions included in the upcoming PDP 2023–2028, according to Balisacan.

Cebuano Cebuano English English Filipino Filipino

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