Mr. Noel D. Raboy’s Message on CLIMBS’ Current Affairs and Community Development Initiatives
“Together, we have built a strong foundation for sustainable growth while staying true to our cooperative values. As we move into 2025, let us continue to lead with purpose and innovation, keeping CLIMBS a beacon of hope for every Filipino.”
As we look back on CLIMBS’ milestones over the past year, I am honored to continue serving as CEO and President, driven by our mission to build a purpose-led organization that addresses life’s uncertainties. Our shift to climate insurance has been a tremendous success in empowering communities and promoting sustainable development. As we celebrate the UN’s International Year of Cooperatives (IYC2025) with the theme “Cooperatives Build a Better World,” I am excited to embrace this new chapter as global attention turns to the vital role of cooperatives.
This growth, however, comes with its own set of challenges and opportunities. I firmly believe that this milestone would not have been possible without the collective efforts of visionary leadership and insurmountable decisions made by the directors, sacrifices and efforts by the management, and the tenacious skills and capabilities of every employee and staff.
By focusing on the grassroots level we have cultivated a vision for our Filipino farmers, driving a shift in the many challenges the Philippine agricultural sector has faced—especially the impact of climate change. It is our personal mission to continue to build a network of partners and stakeholders who share the same goal: ensuring food security and promoting agricultural sustainability in the country.
Notable Rankings in the Insurance Commission’s Report
In 2024, CLIMBS achieved significant recognition by ranking 14th among 31 life insurance companies and 19th out of 52 non-life insurance companies based on net income. This reflects the company’s consistent financial growth and commitment to serving cooperatives and communities across the nation.
Digital Transformation Journey
By ensuring universal access to insurance, we have strengthened our IT infrastructure and invested over $100 million in digital initiatives throughout 2024. This progress was made possible with the invaluable support of our international partners—the Belgian Raiffeisen Foundation (BRS) and the International Cooperative Mutual Insurance Federation (ICMIF) Foundation. We extend our deepest gratitude to Mr. Lieven Keppens, Ms. Natalie Van Eynde, Mr. Kurt Moors, and Mr. Bernd Stienaers for their steadfast support and hands-on technical expertise, particularly in advancing our Data Warehousing and Data Analytics capabilities.
Through this collaboration, we successfully developed our proprietary AI software, CLIMBS Crystal, designed to accelerate claims processing and streamline business operations.
While we celebrate these advancements, we remain firmly committed to the Sustainable Development Goals, especially in reducing our carbon footprint and emissions. In alignment with the United Nation’s vision, as mentioned in the Paris Agreement that emissions need to be reduced by 43 per cent by 2030 and reach net-zero carbon emissions by 2050. We are empowered to embrace our role as a cooperative dedicated to driving sustainability and meaningful change in the face of climate-related challenges.
ESG Report
We aim to champion a whole-of-nation approach by aligning our goals with global ESG standards. This report reflects our continued commitment to the United Nations’ ESG framework—demonstrated by the planting of thousands of mangrove seedlings across various regions in the Philippines and by strengthening partnerships that advance the Sustainable Development Goals (SDGs). This year, we remain dedicated to applying an Ecosystem-based Adaptation (EbA) Approach in our operations, adopting key areas such as Palawan, Bohol, and Gitagum. In line with this, we have tied our business efforts to a consolidated premium of over P3.5 billion, allocating a 10% experience refund to fund mangrove reforestation nationwide.
A Climate Insurance: Insuring Where You Are!
Marking a new era in climate insurance, CLIMBS have pivoted from our previous tagline “Insuring 20 Million Lives by 2024” to “A Climate Insurance: Insuring Where You Are” in Year 4 the team onboarded about 222 cooperatives, covering 81 provinces in the country, while reaching 139,175 farmer-members, impacting a total of 695,875 farmer-members and a payout of P2,374,349.97 which is equivalent to $40, 831.47. Additionally, for Year 1 (May 15 to June 30, 2024) alone, the drought insurance policy, has onboarded 47 cooperatives in 16 provinces highly susceptible to El Niño, reaching 6,984 farmer-members and impacting 34,920 households and total payouts amounted to P20,000, or $358.28. We all share the responsibility of protecting the Earth and preserving its resources for future generations. Our partnership with the InsuResilience Solutions Fund (ISF) has played a vital role in our transition toward more sustainable business practices. We are truly grateful for ISF’s support in scaling the Weather Protect Insurance (WPI) Project to P3.5 million, which concluded in December 2024—helping us reach remote communities and positively impact countless lives. Despite the challenges, we take pride in being the first Philippine organization to implement a cooperative business model for parametric insurance, made possible through collaboration with global partners. This achievement marks a pivotal moment for both our organization and the Philippine agricultural sector. From impact to execution, we believe that despite the complexities of establishing a climate insurance framework, we are advancing a whole-of-nation approach to sustainable development.
Social Impact
CLIMBS continues to focus on social impact by supporting climate risk adaptation and community development programs, ensuring that insurance serves as a tool for long-term empowerment beyond financial protection. The progress we achieved in 2024 is a testament to the dedication of our member-cooperatives, stakeholders, and employees. With the support of the Philippine Chamber of Cooperatives Inc. (Coop Chamber), we have actively upheld and promoted the core values of our cooperative identity by advocating for the right of cooperatives to vote. We firmly believe that democratic member control is the foundation of a true cooperative—ensuring that every member is heard, empowered, and given the right to choose.
Together, we have built a strong foundation for sustainable growth while staying true to our cooperative values. As we move into 2025, let us continue to lead with purpose and innovation, keeping CLIMBS a beacon of hope for every Filipino.
These achievements would not have been possible without the steadfast leadership of our Board of Directors, led by our Chairperson, Rev. Fr. Elmo Manching; the dedication of our top management and employees; and the continued trust of our loyal member-owners. Your support fuels our mission and drives us to reach new heights.
As we celebrate these milestones, may we always remember that our progress is rooted in the spirit of cooperativism. Through unity and shared purpose, we can build lasting change for generations to come.
Thank you for your unwavering support.
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