Climate response a responsibility and opportunity for business

ABS-CBN News

Posted at Nov 22 2018 01:43 PM | Updated as of Nov 28 2018 10:02 PM

Rain clouds covers the skyline in Manila on July 17, 2018, as a tropical depression, locally named Henry, made landfall in northern Luzon island affecting suburban Manila and nearby provinces with monsoon rains, according to weather bureau report. Ted Aljibe, AFP

MANILA – Climate change resiliency is both a responsibility and an opportunity for businesses, an advocate said Thursday. 

The climate change fight can spawn demand for new product and services, Eileen Gallagher, climate resilience manager for global non-governmental organization BSR said in an exclusive interview with ANC’s The Boss.

“If you’re looking at it from more than just adaptation in terms of resilience, there’s opportunity for business. It’s not just risk management or business continuity planning,” Gallagher said. 

“Business has played an essential role in the economy and society. We offer jobs, they offer livelihoods, they have the expertise...They have a workforce that they have to be responsible for,” she said. 

Southeast Asia is considered to be the "most at risk region" in world in terms of climate change, said Gallagher, citing an ADB report.

BSR's Eileen Gallagher speaks to Cathy Yang for ANC's The Boss.

In the Philippines, there is a “high level of awareness” because of the extreme weather events that occurred in the past but “more could be done” to prepare for climate hazards such as typhoons, droughts and sea level rise, she said. 

The global practice of business climate change assessment has started to “trickle a little bit” in Asia with Thailand having its own Chief Resiliency Officer, Gallagher said. 

In the Philippines, businesses "are eager to take action," she said. 

"Companies certainly have made strong improvements in disaster risk reduction and disaster risk management practices, helping in times of need," Gallagher said.