President Ferdinand Marcos Jr. has called on Asia-Pacific nations to scale up investments in disaster risk reduction in light of the increasing frequency and severity of climate-related disasters. Speaking at the opening of the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) in Pasay City, Marcos emphasized that economic growth and disaster preparedness must go hand in hand.
Marcos stressed the need for countries in the region to unite in building resilience against calamities. He cited the Sendai Framework for Disaster Risk Reduction 2015-2030 as a guide and urged accelerated efforts to meet its goals, aligning them with broader global initiatives like the 2030 Sustainable Development Goals and the Paris Agreement.
The President outlined key steps, including boosting investments in disaster preparedness, fostering inclusion, and integrating innovation into strategies. He also highlighted the importance of public-private collaboration and stronger international legal frameworks for disaster response.
Marcos took pride in the Philippines’ role in hosting the Loss and Damage Fund Board and advancing its green and blue bond markets, recognized for their potential by the Asian Development Bank. These bonds fund climate mitigation projects, sustainable transport, and marine ecosystem protection.
The APMCDRR is a biennial event bringing together governments, international institutions, and civil society to address disaster risk challenges collectively.
