{"id":3712,"date":"2026-04-29T01:10:05","date_gmt":"2026-04-29T01:10:05","guid":{"rendered":"http:\/\/coopchamberph.org\/?p=3712"},"modified":"2026-04-29T01:10:05","modified_gmt":"2026-04-29T01:10:05","slug":"coop-chamber-urges-decisive-climate-action-hails-climbs-insurance-innovation-as-3-5b-disaster-gap-looms","status":"publish","type":"post","link":"http:\/\/coopchamberph.org\/?p=3712","title":{"rendered":"Coop Chamber Urges Decisive Climate Action, Hails CLIMBS Insurance Innovation as $3.5B Disaster Gap Looms"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

QUEZON CITY, PHILIPPINES<\/strong> – Marking a critical milestone in the nation’s journey toward
economic resilience, the Philippine Chamber of Cooperatives, Inc. (Coop Chamber) issued a
high-level call for solidarity and legislative support during the 54th Annual General Assembly
of CLIMBS Life and General Insurance Cooperative.
<\/p>\n\n\n\n

In a statement released today, Noel D. Raboy, Chairperson of the Board of Trustees of the
Coop Chamber, emphasized the urgent need for “Weather Protect Insurance” and
innovative climate financing to shield the Philippines’ most vulnerable sectors from the
staggering $3.5 billion (approx. \u20b1200 billion) in annual disaster losses.<\/p>\n\n\n\n


Chairperson Raboy underscored the dire reality facing the archipelago: 74% of the Philippine
population remains exposed to increasingly frequent natural disasters, a vulnerability now
compounded by the looming El Ni\u00f1o event expected to intensify droughts, heatwaves, and
food insecurity through 2027.
<\/p>\n\n\n\n

“For our farmers and fisherfolk, a single typhoon can mean the difference between a
harvest and total insolvency,” Raboy stated. “CLIMBS’ ‘Weather Protect Insurance’ is not just
a financial product; it is a necessary, urgent innovation that transforms the cooperative
movement from a bystander into a proactive shield for the Filipino people.”<\/p>\n\n\n\n


Edwin A. Bustillos, Secretary General of the Coop Chamber, reinforced this call, declaring:
“Temporary subsidies are mere Band-Aids for a structural wound. What we need is systemic
resilience, insurance that empowers communities, financing that is transparent, and policies
that prioritize food security. The cooperative movement is ready to lead, but government
and global partners must stand with us.”<\/p>\n\n\n\n


The Coop Chamber lauded CLIMBS for its leadership in serving over 10 million Filipinos
through a network of 4,000 member-cooperatives. This scale, Bustillos noted, is proof that
the cooperative model is the most effective vehicle for inclusive protection, ensuring that
digital transformation and climate advocacy reach the grassroots level.<\/p>\n\n\n\n\n\n


While celebrating the success of CLIMBS’ three-year climate insurance initiative, the Coop
Chamber issued a diplomatic yet firm appeal to the national government and the global
community for stronger policy integration.<\/p>\n\n\n\n


The Chamber’s core advocacy points include:<\/p>\n\n\n\n