Representatives from the Yuchengco Group of Companies (YGC) bared their initiatives on increasing community preparedness amid climate change at the recently concluded 2nd YGC Business Forum.
At the forum entitled “Future-proofing the Philippines: Bolstering climate resilience and community readiness,” YGC affiliates synergized to achieve the common goal of contributing to climate action and managing the effects of climate change.
In his opening remarks, RCBC CEO and President Eugene Acevedo highlighted the inevitability of natural disasters and the importance of being prepared in order to manage and mitigate their impact.
Acevedo further discussed how critical it is for the private and public sectors to collaborate in order to facilitate effective mobilization of resources, better exchange of knowledge and expertise, as well as expedite large-scale projects that benefit all parties.
Keynote speaker Dr. Alfredo Mahar Lagmay, Executive Director of the University of the Philippines Nationwide Operational Assessment of Hazards (NOAH) Center, explained that the current hazard scenarios in the Philippines are expected to get worse and more frequent.
He reiterated the perennial call to reduce greenhouse gas emissions, limit the burning of fossil fuels, and plant more trees to serve as carbon sinks.
Lagmay added that the private sector can help in climate change mitigation by providing financial resources to programs related to climate change adaptation and disaster risk resilience.
“The private sector can use its Corporate Service Responsibility (CSR) funds to help communities by promoting and getting involved in crafting risk-informed and science-based development plans,” said Dr. Lagmay.
“Participation of big businesses in forums like this goes beyond business continuity plans and social responsibility efforts. This is about preparing our people to prepare our communities and businesses for success in the face of a changing environment.”
During the panel discussion, Sun Life Grepa Financial, Inc. Chief Operating Officer Joy Castillo stressed the importance of having life protection as it serves as a financial safety net, allowing Filipino families to rebuild and recover after unwanted natural events.
YGC’s non-life insurance affiliate Malayan Insurance Co. focused on protecting Filipinos’ hard-earned properties and investments from different acts of nature.
Senior Vice President and Chief Sales Officer Isauro Cotoco Jr. also talked about the recent Typhoon Carina and its effect on their clients and the local insurance industry.
Rizal Commercial Banking Corporation (RCBC) Chief Risk Officer and Risk Management Group Head Juan Gabriel Tomas shared how the bank helps build the financial resilience of their customers in the face of natural disasters and other setbacks.
He discussed the available financial products, services, and programs to offer financial solutions to those affected by such unforeseen events.
The forum also sparked the conversation on equipping future generations with the protection they need against climate change, with a strong focus on education and energy transition.
Dr. Dodjie Maestrecampo, President and CEO of Mapúa University, known for its proactive approach to sustainability, shared that it has integrated education for sustainable development (ESD) into its curriculum.
