Access to economic assets determines to a large degree how communities adapt to climate change impacts. People need not only financial resources but access to training, markets and technology to strengthen the communities and become less vulnerable to climate change.
Funded by the Government of Spain through MDG Achievement Fund, ILO worked with UN agency and local and national partners to help communities to access resources and cope in case disaster will be triggered by climate change. The project explores risk transfer mechanisms like revolving funds and insurance schemes, and assisted farmers to diversify their livelihood base and reduce risk exposure.
Updates on insurance scheme:
Under Outcome 3.4 of the Joint Programme on Strengthening the Philippines’ Institutional Capacity to Adapt to Climate Change of the United Nations and the Government of Philippines with support from Spanish Government through the United Nation’s MDG-Achievement Fund, the ILO Country Office for the Philippines worked on the developing and testing various financial safety nets, including crop insurance, for climate change vulnerable farming communities in Southern Philippines. Worked closely with the Philippine Crop Insurance Corporation (PCIC), the ILO geared to run a test implementation on weather index-based insurance for paddy and maize in Buenavista and RTR, two of the Project’s priority municipalities. The ILO and PCIC have accessed support from the MIF to this undertaking through a Microinsurance Fellow. In addition to ILO’s partners: Department of Trade and Industry (DTI), Department of Labor and Employment (DOLE), Provincial and Municipal Governments, the ILO and PCIC also collaborated with the Department of Science and Technology (DOST)-Caraga Region and DOST-PAGASA for this undertaking in terms of the installation of the automatic weather stations as well as establishing the needed climate information system.
For further information please contact:
ILO Country Office for the Philippines (CO-Manila)
19th Floor, Yuchengco Tower
RCBC Plaza, 6819 Ayala Avenue
1200 Makati City, Philippines
Tel. +632 8580 9900
Fax +632 8856 7597