The document discusses exposure and vulnerability to natural hazards. Exposure refers to people, assets, or resources that could be affected by hazards, while vulnerability is the susceptibility to harm from stresses. The Philippines has high exposure due to its location in the Pacific typhoon belt and geography of small islands and rugged terrain. It is also highly vulnerable due to poverty, weak institutions, reliance on agriculture/fishing, and other social and economic factors. Multiple sectors in the Philippines, such as agriculture, watersheds, coastal areas and human health, are vulnerable to climate change impacts.