skygaming777 Bill wants environmentally-critical projects insured first
Bicol Saro party-list Rep. Brian Yamsuan INQUIRER.net file photo MANILA, Philippines Bicol Saro party-list Rep. Brian Raymund Yamsuan has called on his colleagues at the House of Representatives to approve a bill that would require ow...
Bicol Saro party-list Rep. Brian Yamsuan —INQUIRER.net file photo
MANILA, Philippines — Bicol Saro party-list Rep. Brian Raymund Yamsuan has called on his colleagues at the House of Representatives to approve a bill that would require owners and operators of environmentally-critical projects to obtain insurance to avoid adverse impact to surrounding communities.
Yamsuan in a statement on Tuesday said House Bill No. 1937 or the proposed Mandatory Environmental Insurance Coverage Act must be passed to ensure that there would be safeguards for communities where possibly dangerous operations are conducted.
Article continues after this advertisementAmong the environmentally-critical projects that will be considered are quarrying, logging, reclamation, mining, major infrastructure projects, and those in calamity-prone areas like floods, typhoons and volcanic activity.
FEATURED STORIES NEWSINFO DILG on wanted ex-BuCor chief Bantag: We will find him soon NEWSINFO Gatchalian, Villanueva assert: No blank items in 2025 budget NEWSINFO Bong Revilla, Imee Marcos clarify stance on anti-teen pregnancy billREAD: Global study lists PH provinces at most risk of climate damage
“Our country is the most disaster-prone in Southeast Asia. But we cannot ignore the fact that the calamities we are experiencing now are also due to man-made activities that damage the environment,” Yamsuan said.
Article continues after this advertisementREAD: PH still world’s most at-risk to disasters
Article continues after this advertisement“Despite these realities, there is still no action or policy to ensure adequate compensation for losses resulting from these activities that lead to environmental degradation and cause harm to lives and property. This bill aims to fill this gap,” he added.
Article continues after this advertisementREAD: Bongbong Marcos to world leaders: Enact climate change aid for affected countries
Unemployment among young people and college graduates jumped from 13.2% in June to 17.1% in July, as some 12 million students entered the labour market, before the August figure rose to its highest level since the National Bureau of Statistics decided to change the methodology to not include students in December 2023.
Alexander said Britain’s 2016 vote to leave the EU caused “significant disruption” to its trade policy and the country needed to recalibrate its global trade outlook.
According to Yamsuan, companies operating environmentally-critical projects must be responsible to prevent man-made disasters and other environmental risks.
Article continues after this advertisementThe said bill was filed last July 14, 2022, and has been pending with the House committee on ecology.
“Our ultimate goal is accountability for institutions and corporations that embark on environmentally critical projects. We want to make sure that they operate as responsible owners to help prevent man-made disasters,” he said.
“If environmental damages do occur, then the MEIC will ensure that communities are properly compensated and rehabilitation programs are immediately implemented,” he added.
Under the bill, a Mandatory Environmental Insurance Coverage (MEIC) will be established, with it coming in the form of an environmental guarantee cash fund or an environmental insurance policy (EIP) obtained from bonding or insurance companies.
The EIP meanwhile may either be an environment performance bond or an environment pollution, impairment, and cleanup liability insurance, which the bill said will be “required for all existing and future activities or projects” that have been issued an Environmental Compliance Certificate.
If enacted, affected communities, stakeholders, and the local government units who have jurisdiction of the projects will be the beneficiaries of the insurance.
An Inter-Agency Technical Committee chaired by the Environment secretary will be created to implement the provisions, if it is signed into law.
The Philippines remains to be one of the countries most vulnerable to calamities, as it faces several tropical cyclones yearly, and is seated at the Pacific ring of fire, making volcanic activity and earthquakes common.
Last September 2024, the World Risk Report ranked the Philippines as the most at-risk country to extreme natural events and negative impacts of climate change, out of 193 United Nations member-states.
The index showed that the Philippines was followed by Indonesia, India, Colombia, and then Mexico.
Then in 2023, according to the Gross Domestic Climate Risk ranking by the Sydney-based climate-change research firm The Cross Dependency Initiative, five Luzon provinces were considered the most at-risk areas because of climate-induced disasters.
Subscribe to our daily newsletter
President Marcos has spoken several timesskygaming777, in local events and foreign meets, about climate change. During the 43rd Association of Southeast Asian Nations in Jakarta last September, the Chief Executive called on world leaders to speedily enact the Loss and Damage Fund (LDF), as countries bearing the brunt of climate change need urgent financial assistance.
READ NEXT Baguio gov’t steps in to help locked-out John Hay residents CCTV footage contradicts Grijaldo’s ‘coercion̵... EDITORS' PICK Marcos hails Trump inauguration, eyes collaboration Don’t wake up to your alarms? Here’s what you can do Undocumented Filipinos in US advised about their rights as mass deportation threat looms Trump decrees end of diversity programs, LGBTQ protections 2025 New Year resolutions for your pet Trump signs order to pull US from WHO, citing funding disparities MOST READ KC Concepcion photo acquired by Getty Museum, exported to US Chinese Navy watches PH-US joint drills in WPS Justin Beiber unfollows wife Hailey Baldwin, stoking split talk 76 killed in a hotel fire at a ski resort in Turkey Follow @FMangosingINQ on Twitter --> View comments
