First, let me congratulate the Climate Change Commission, the PCCI, the Philippine Business for the Environment, and the UNDP for organizing this 2nd Annual National Business Climate Action Summit. I am honored to join you in this important gathering as we exchange views on sustainable finance and firm up our commitment in pursuing a low-carbon, climate-resilient, and sustainable development pathway for the Philippines.
According to a study made by Climate Central and published on the Nature Communications journal, the impacts of sea-level rise and coastal flooding is seen to become more extensive that could erase coastal cities by 2050. The Philippines is one of the countries identified to be in danger and the National Capital Region could likely be submerged due to climate change.