Climate action is a phrase that has become popular over the last few years, calling for individuals, companies, and governments to take action against climate change and its impact on our world.
However, the phrase is often thrown around with no actual weight behind it, making it seem like we are making progress while nothing is truly being done. Unfortunately, this grandstanding has let us get to a point where we can no longer ignore the effects of climate change - especially here in the Philippines.
The climate crisis in the Philippines
You don’t have to look too far to see where climate change is happening. Just in April 2022, Typhoon Agaton killed 6 people, affected more than 60,000 families, and destroyed 83.5 million pesos’ worth of crops. However, that damage is dwarfed by Typhoon Odette, which destroyed 513.9 million pesos’ worth of crops across Western Visayas in 2021, affecting the livelihoods of more than 17,000 farmers.
Typhoon Odette destroys a portion of an agriculture cooperative's building in Negros Oriental | Photo from dar.gov.ph
Until now, relief efforts are needed for victims of these typhoons, especially those whose homes were flooded by Typhoon Agaton.
However, as long as climate change is unmitigated, there will always be a need for relief efforts - and the numbers will only continue to climb.
Why should investors care about climate action?
An investment in climate change might not be the first thing one would think of when trying to make a profit, but the stakes only get higher with inaction.
Let’s take a look at the climate predictions for the Philippines if we fail to take action:
- Extreme rainfall will increase from 2020 to 2050
- More severe droughts, leaving farms and grasslands vulnerable to fires
- We’ll suffer a 10% decrease in grain harvests for every 1°C increase in our atmosphere
- Maximum fish catch potential will decrease by up to 50% by 2051
- Approximately 13.6 million Filipinos would need to relocate due to rising sea levels
- We’ll have an increased number of public health emergencies
- We’ll lose 1% of working hours by 2025, 2% by 2050, and 4% by 2085
- A new class of poverty will be created by 2100
All of these factors will impact our GDP, and a study by the Asian Development Bank foresees a 6% loss of GDP annually by 2100 if we continue to ignore climate change.
However, the same study also discovered that, if 0.5% of the GDP is invested in climate action, we can avoid losses of up to 4% of our GDP by 2100.
When you take a moment to think about all of these statistics, it becomes clear that investing in climate action is actually a way of protecting your profit - and perhaps even increasing it. Without the effects of climate change breathing down our backs, it will be easier for businesses to thrive and expand.
How to invest in sustainability
But how does one start working towards climate adaptation and mitigation? There are two main ways you can help as an investor:
- Invest in social and environmental projects.
- Work with sustainable businesses.
Environmentalists and sustainable businesses require capital and other resources that free them up to take real climate action.
This is where funders like you come in. Whether you’re a regular citizen or an experienced investor, you can put your money and resources to work by getting involved in sustainable causes. Don’t wait any longer; it’s time to start investing in climate action - for your sake, as well as the planet’s!
And if you’re looking for a sustainability-minded business to work with, look no further.
Here at Panublix, we work to shift the fashion and design industries away from fossil-fuel based materials and production. Instead, we drive these industries towards decarbonization using regenerative fibers, fabrics, and practices that respect culture, humanity, and biodiversity (Kultura, Kapwa, at Kalikasan).
Through our business platform, we enable our workers with digital empowerment and fair labor practices - all while furthering a circular economy through the promotion of conscious consumption.
We are currently fundraising, and we would love to have your support as we work towards a climate positive future. To learn more about investing in sustainability, contact us at firstname.lastname@example.org.