As the IPCC’s latest report makes clear, averting the worst effects of climate change demands a profound economic transformation in the next decade. Achieving it will require a new social contract, based on a fairer distribution of wealth.
Rising heat and more frequent floods will require spending on a range of resilience-building measures for people’s health and livelihoods, as well as infrastructure for water, power, communication, bridges, roads, and railways.
Philippine president Ferdinand Marcos, Jr began his administration by vowing to prioritise clean energy and curbing climate disasters. Eco-Business scrutinises these pledges and asks what he must address to stay true to them.