A $400-million funding from the Asian Development Bank (ADB) will give the Philippines a boost in its efforts to protect marine assets and promote the sustainable management of its coastal resurces.
Healthy marine ecosystems, most of which serve as vital carbon sinks, also provide livelihood opportunities for millions of Filipinos and act as buffers against climate-induced disasters, the Climate Change Commission said.
The CCC welcomed ADB’s forthcoming approval of a $400-million loan to strengthen marine ecosystems and advance the Philippines’ blue economy under its National Adaptation Plan (NAP).
CCC Executive Director Robert E.A. Borje described the financial assistance as a crucial step toward the implementation of the NAP.
“This step may be perceived negatively because it is a finance facility, but viewed strategically, it is an investment that will strengthen our capacity to prepare for and respond to climate-related disasters. In the long term, it can significantly reduce losses and the need for emergency funding,” Borje said in a statement last week.
“The funding presents a great opportunity to bolster our oceans and ecosystems, which are among our most important natural defenses against the climate crisis,” he said.
The loan, announced by ADB President Masato Kanda at the 16th Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA) Summit, is set for approval this year and marks a pivotal step in scaling up climate adaptation efforts.
The NAP serves as the Philippines’ primary policy tool for building long-term climate resilience, guiding the country’s adaptation strategies that focus on vulnerable communities and ecosystems.
Developed under the leadership of President Ferdinand R. Marcos Jr., NAP reflects his vision of a climate-resilient and climate-smart Philippines.
The NAP also prioritizes resource allocation, ensures policy coherence, mobilizes financing, and promotes inclusive stakeholder participation.
One of its key priorities is the rehabilitation and restoration of coastal and marine ecosystems, including the safeguarding of vital coastal habitats such as mangroves, coral reefs, seagrass beds, and other ecosystems with strong adaptive potential.
Based on the NAP assessment, ecosystems provide critical protection against climate hazards and contribute billions of pesos annually through ecosystem services. Fisheries, which form part of these ecosystems, are a major source of livelihood and contribute to 75 percent of the food consumed in the country, which is sourced locally.CCC News
However, it was also indicated that these natural systems are increasingly at risk due to human-induced activities and climate-related impacts, underscoring the urgency of conserving and protecting the country’s oceans to secure food sources, community resilience and sustainable development.
This underscores the strategies outlined in the NAP to build resilience across key sectors, including the blue economy, by aligning national and local priorities with climate risk assessments and science-based planning, according to CCC.
It includes specific strategies to support marine ecosystems and coastal communities, including strengthening infrastructure resilience, safeguarding livelihoods through social protection and regulatory measures, and scaling up nature-based solutions such as mangrove restoration and coral reef rehabilitation. CCC News
