What are the economic impacts of climate change to Philippines?

How does climate change affect the Philippine economy?

Climate change has the potential to disrupt crop productivity, and in turn affect domestic agricultural production, consumption, and food security. … Sustaining agricultural production growth to help achieve inclusive growth and poverty reduction is a key goal for the Philippine government.

What economic impact does climate change have?

Extreme weather events could cause damage to physical assets, including real estate, capital and infrastructure, and loss of life with consequent property and casualty (P&C) insurance losses, damage to balance sheets of both households and firms, increases in defaults, and potential financial sector distress.

What are the social and economic effects of climate change?

Recent literature illustrates the economic and social challenges facing cities around the world as a result of climate change including energy shortages, damaged infrastructure, increasing losses to industry, heat-related mortality and illness, and scarcity of food and water. These challenges are interrelated.

How climate change affect our country?

Climate change also increases the appearance of more violent weather phenomena, drought, fires, the death of animal and plant species, flooding from rivers and lakes, the creation of climate refugees and destruction of the food chain and economic resources, especially in developing countries.

IT IS INTERESTING:  Quick Answer: How does nitrogen in fertilizer runoff affect aquatic ecosystems?

What is an economic climate?

Meaning of economic climate in English

the general condition of the economy in a particular country or in the world: There is opportunity to gain market share even in the current tough economic climate.

What kind of economics is called environmental economics?

Environmental economics is an area of economics that studies the financial impact of environmental policies. … This field of economics helps users design appropriate environmental policies and analyze the effects and merits of existing or proposed policies.

What are the actions done by the Philippine government to address the effects of climate change?

In 2009, Congress passed the Climate Change Act creating the CCC to develop policies and coordinate government programs on climate change. The CCC in turn developed the National Climate Change Action Plan that serves as a road map for all climate change programs in the Philippines.

What are the major environmental problems in the Philippines?

Other environmental problems that the country is facing include pollution, illegal mining and logging, deforestation, dynamite fishing, landslides, coastal erosion, wildlife extinction, global warming and climate change.

What is the social and economic impact?

economic and societal impact, which is the demonstrable contribution that excellent social and economic research has on society and the economy, and its benefits to individuals, organisations or nations.