PHL losing $7.1 billion in 5 years as climate fuels 5 health risks

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THE economy stands to lose $7.1 billion due to five health risks that are bound to result in more cases and deaths due to climate change between 2026 and 2030, according to the latest report of the World Bank.

An ice cream vendor waits for customers at a gasoline station on East Avenue, Quezon City. Cold food and beverage help lower body temperature, a needed intervention during extreme heat.

“I think this is one of the areas that is extremely important to the Philippines given its climate vulnerability,” World Bank Economist Toni Joe Lebbos said in a briefing on Monday. In the Philippines, the report stated, it is estimated that climate change contributes $5.3 billion to the economic cost of the health impacts of climate change in 2050. The World Bank said this represented about nine percent of the total.

The World Bank estimated that in 2050, the Philippines would experience around 26.198 million cases of the five health risks. Without climate change, the total number of cases could only reach 25.148 million in 2050. Apart from cases, the number of deaths caused by these five health risks is also expected to increase to 56,537 deaths in 2050 from 43,159 deaths in 2020.

 

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