‘Climate-caused closures could deepen learning crisis’
RESIDENTS and rescuers gather at the site of an Israeli airstrike in Beirut, Lebanon on Monday, November 18, 2024. AP/BILAL HUSSEIN
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THE WORLD | A10
ISRAELI AIRSTRIKE HITS BEIRUT RESIDENTIAL AREA, KILLING FIVE; US CEASE-FIRE EFFORTS CONTINUE
HE learning crisis in the Philippines and other Asian countries could worsen if climate change-induced weather disturbances lead to more school closures, according to the Asian Development Bank (ADB). In the Climate Change and Education Playbook, ADB noted that in the Philippines alone, the extreme heat and other natural calamities were able to close schools nationwide for 32 days in School Year 2023 to 2024. ADB noted that this will impact learning outcomes, especially if schools and children do not have “adaptive capacities.” The Manilabased multilateral development bank called for climate-resilient educational facilities.
“Making education systems climate-ready is a key policy agenda in the coming years,” said ADB Sectors Group Director General Ramesh Subramaniam. “We must make education systems climateready at various levels—from the curriculum, to infrastructure, and teacher education so that students develop the skills to enable the green transition.” By making schools climate-resilient, the education sector could prevent learning losses, physical harm to learners and teachers, and damage to school assets that prolong school closures. The report makes several calls to action to build climate resilience through education, such as enabling transformative climate
literacy for children and youth; and building green skills for the current and future workforce. The ADB also cited a need to incorporate the human dimension into upcoming NDCs and support the education and training of women, disadvantaged youth and the marginalized to pursue climateresilient pathways. “Schooling is of critical importance as an additional year of education has been linked with increases in pro-climate beliefs and behaviors,” the ADB report stated. ADB also said governments in developing Asia must ensure that they incorporate clear, substantive measures to harness education and training in forthcoming
updates to their nationally determined contributions (NDCs) under the Paris Agreement. Doing so can ensure that education systems strategically enable countries’ paths to decarbonization based on climate literacy, green skills, and the research and development required to achieve national mitigation and adaptation goals. With the right green investments, ADB said the transition to a low-carbon economy could create more than 230 million jobs in Asia and the Pacific by 2030. Around 8 million coal industry workers in the region will need reskilling as coal industries are See “ADB,” A2
A broader look at today’s business www.businessmirror.com.ph
n Wednesday, November 20, 2024 Vol. 20 No. 42
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BSP: ‘GRADUAL’ EASING REMAINS THE STRATEGY By Cai U. Ordinario
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@caiordinario
ACTAN, Cebu—The Bangko Sentral ng Pilipinas (BSP) has no plans to break its easing cycle despite the country’s slower-than-expected growth in the third quarter and the uncertainties surrounding the Trump administration in the United States. However, BSP Governor Eli M. Remolona Jr. told reporters here on Tuesday that the Monetary Board will still leave room to pause in December as they remain keen on a “gradual” easing of the country’s monetary policy. Remolona also said the reduction in policy rates will still be done in increments of 25 basis points. For next year, the BSP expects a reduction of 100 bps or less, depending on prevailing economic conditions. “We’re still in the easing cycle. Either we cut in December or we cut in the next meeting, pero dahan dahan lang [but this will be
done gradually],” Remolona told reporters on the sidelines of the two-day 2024 BSP-International Monetary Fund Systemic Risk Dialogue. Remolona said the slowdown in the country’s economic growth in the third quarter is “an aberration” and that the fourth quarter will likely see an improvement in the economy’s performance. Apart from the election of Trump, Remolona said the next big news will be the latest inf lation print. He said the BSP expects the November inf lation See “BSP,” A2
GOVT AGENCIES MAY PROCURE SUPPLIES VIA ‘ADD TO CART’ By Reine Juvierre S. Alberto @reine_alberto
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ROC U R I NG ent it ies may soon “add to cart” common-use supplies and equipment as the trial phase for t he Phi l ippine Government Electronic Procurement System (PhilGEPS) electronic marketplace is set to begin. Bud ge t S e c re t a r y a nd Government Procurement Policy Board (GPPB) Chairperson Amenah F. Pangandaman signed Resolution
No. 06-2024, approving the guidelines for the pilot implementation of the PhilGEPS e-marketplace. All branches and instrumentalities of the national government, including state universities and colleges, governmentowned and -controlled corporations, government financial institutions and local government units may procure through the e-marketplace based on their needs and within their approved budget for the contract. See “PhilGEPS,” A2
BRIDGING THE FUNDING GAP: A CALL AT COP29 In this photo provided by the Philippine Red Cross, damaged trees and debris swept by floods lie near a broken bridge caused by Super Typhoon Ofel (international code name Usagi) in Gonzaga, Cagayan , on Friday, November 15, 2024. Flooded rice fields and significant damage to agriculture highlight the devastating impact of the typhoon. At the 2024 United Nations Climate Change Conference, also known as COP29, being held in Baku, Azerbaijan, from November 11 to 22, farmers are urging global leaders to allocate more climate funds for agriculture. Small farmers, who produce much of the world’s food supply, receive less than 1 percent of climate finance despite food systems accounting for a third of greenhouse gas emissions. Esther Penunia, secretary general of the Asian Farmers Association, emphasized, “You don’t help small farmers, where will you get your food? Who will farm for you?” PHILIPPINE RED CROSS VIA AP
Dusit Int’l seeks continued ownership of Makati hotel
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USIT International is currently in talks with Ayala Land Inc. (ALI) to continue owning and operating its hotel in Makati. Shubham Chandra, area general manager for Dusit Thani Philippines and general manager of Dusit Thani Manila, told the BusinessMirror on Monday, “We’d still like to stay here [in Makati], so we’re still talking with [ALI] about it. Of course, it’s still a long way off, 2027,” referring to the expiration of Dusit’s lease contract with the property developer. Asked about the response of ALI to Dusit’s wishes, Chandra said among the options raised is for
the property developer to keep the hotel and for the Thailand-based hospitality firm to manage it. “But we want to continue owning it. After all, this is an iconic property of Dusit in the Philippines,” he added. Chandra said this even as he confirmed Dusit International’s continued expansion in the country “although with different owners.” Outside of Makati, Dusit manages hotels in Punta Engaño, Cebu (Dusit Thani Mactan Cebu owned by Robinsons Land Corp.) and in Lanang, Davao City (Dusit D2 Davao owned by Torre Lorenzo Development Corp.) See “Dusit,” A2
PESO EXCHANGE RATES n US 58.7070 n JAPAN 0.3796 n UK 74.4522 n HK 7.5424 n CHINA 8.1182 n SINGAPORE 43.8603 n AUSTRALIA 38.2006 n EU 62.2294 n KOREA 0.0422 n SAUDI ARABIA 15.6473 Source:
BSP (19 November 2024)