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Summary

As one of the most disaster-prone countries in the world, pre-arranged finance forms an integral part of The Philippines Government’s approach to disaster risk management and climate change adaptation. Yet, challenges and gaps remain when it comes to establishing Climate and Disaster Risk Finance and Insurance (CDRFI) solutions as cost-effective and accessible mechanism to address climate-related losses and damages faced by vulnerable people and communities. The Global Shield seeks to address these challenges by enabling the national Government to make informed decisions on risk financing solutions, mobilising additional funding and facilitating innovative solutions through the In-Country Process (ICP). In The Philippines, the ICP is led by the Climate Finance Policy Group of the Department of Finance (DOF). The Institute for Climate and Sustainable Cities (ICSC), a Philippines-based international non-government group, serves as the initiative’s local support structure.
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Country facts

The Philippines is an archipelago nation in Southeast Asia, comprising over 7,000 islands across a territory of 300,000 km².
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Climate risks

As one of the most disaster-prone countries in the world, The Philippines is exposed to many hazards, especially typhoons and earthquakes.
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In-Country Process

A national multi-stakeholder workshop was held in August 2025. The discussions informed the Stocktake and Gap Analysis report, which is currently under development.

Global & local partners

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John Narag

Director, Climate Finance Policy Group, Department of Finance
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Danica Marie Supnet

Director for Climate Policy, Institute for Climate and Sustainable Cities
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Janssen Martinez

Manager for Climate Policy, Institute for Climate and Sustainable Cities

“It is our mission to make more significant progress in managing the risks and costs of disasters while protecting lives.”

“The Philippines has recently been confronted with this harsh reality: a southwest monsoon and tropical cyclones costing over PHP10.5 billion in damages to schools, roads, bridges, housing, and all key infrastructure, and PHP2.2 billion in agriculture alone. Therefore, it is our mission to make more significant progress in managing the risks and costs of disasters while protecting lives.”

Maria Luwalhati C. Dorotan Tiuseco

Undersecretary, Department of Finance (DOF)

Information Session for CSOs in The Philippines

In collaboration with the Institute for Climate and Sustainable Cities (ICSC) and START Network, the Global Shield Secretariat organised an information session for Civil Society Organisations (CSOs) on 14th April, 2025, in Metro Manila. The information session had two main objectives: to introduce the Global Shield initiative and to provide CSOs with an opportunity to get involved in the various Global Shield processes. The input and participation of CSOs are essential to ensure that the In-Country Process is both inclusive and effective.

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Private Sector Roundtable on Inclusive Insurance in The Philippines

The Microinsurane Network (MiN), in partnership with the Insurance Development Forum (IDF), the Insurance Commission of the Philippines, ICSC and the Global Shield, convened a roundtable on 11th August, 2025, identifying key insights on the insurance sector’s needs and perspectives for the Stocktake and Gap Analysis report. Key challenges identified during the discussion include development of robust agricultural insurance, limited reach to underserved sectors, particularly farmers and fisherfolk, low insurance literacy, and others. Recommendations to scale microinsurance as a tool for climate resilience emphasised stronger industry engagement, promoting digitalisation, bundled and human-centered products as well as support to agricultural and parametric insurance expansion.

 

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Kick-off of In-Country Process

The Global Shield In-Country Process (ICP) in The Philippines is led by the Climate Finance Policy Group of the Department of Finance (DOF) and the Institute for Climate and Sustainable Cities (ICSC). The ICP was officially launched in August 2025 when the national country workshop took place in Manila. It served to validate preliminary outcomes of the Stocktake and Gap Analysis report and to discuss priorities for financial protection mechanisms. Discussions included the availability and quality of risk and vulnerability data, operational challenges of scaling disaster finance mechanisms, and adaptive social protection. Read more in the press release.

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Updates from The Philippines

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Press Release

Philippine government convenes national dialogue to strengthen financial protection against climate risks and impacts

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Partner’s Publications and Documents

The Enabling Environment for Disaster Risk Financing in The Philippines, Country Diagnostics Assessment, ADB

Inclusive Insurance in The Philippines, Country Diagnostic and Roadmap, IDF and Microinsurance Network

Climate and Disaster Risk Finance and Insurance in The Philippines, ICSC

Gender Analysis of CDRFI in The Philippines, Centre of Excellence on Gender-smart Solutions