EDITORIAL - Invest in our planet

When the threat posed by COVID-19 is significantly diminished, the world will still have to contend with another threat that has been around long before the pandemic: climate change.

In recent years, the Philippines has suffered from extreme weather disturbances that have claimed the lives of thousands and destroyed billions worth of crops, public infrastructure and private property. Bay areas long believed to be secluded from the fury of tropical cyclones, including Manila Bay, have been hit by destructive storm surges that spawned torrential flash floods.

Global warming is threatening not only coastal communities but also food security as traditional areas for fishing, agriculture and agro-forestry are adversely affected by rising temperatures. Food supply chains are disrupted as natural habitats are destroyed.

This April 22, into the third year of the worst global health crisis in a century, environment advocates are renewing calls for international cooperation in confronting climate change. For Earth Day 2022, the focus is on investing in the planet, on developing a green economy and boosting private sector innovation and investment in sustainable business practices.

Governments are encouraged to provide incentives for green business practices and to encourage citizens and institutions to promote a resilient future. The message is that green business practices are not only ethical but also lucrative for the long term. Studies have shown a direct correlation between sustainable practices, share prices and overall business performance.

For private enterprise, national economies and the planet, sustainability is the path to prosperity. This must be internalized especially in the Philippines, which scientists say is among the countries most vulnerable to the destructive impact of climate change. The message today, Earth Day, is that a healthy planet is not an option – it is a necessity.