Philippines wins bid to host Loss and Damage Fund board
The Philippines was elected as the host country of the Loss and Damage Fund Board Tuesday in Songdo, South Korea.
President Ferdinand Marcos Jr. said in his X account that the Philippines is “also honored to have a seat on the Board itself, ensuring that the Philippines will be a formidable voice in promoting and advancing global climate action ? an issue of critical interest to the country.”
'Hosting the Loss and Damage Fund Board reinforces our dedication to inclusivity and our leadership role in ensuring that the voices of those most affected by climate change shape the future of international climate policies,” he said.
Environment and Natural Resources Secretary Maria Antonia Yulo Loyzaga said “this is a welcome development for the Philippines as one of the countries most vulnerable to the adverse effects of climate change.''
''The Loss and Damage Fund is a long-fought struggle to directly assist those who bear the greatest impact of climate-induced losses and damage to recover and build. We take on this responsibility in solidarity with all countries vulnerable to the impacts of climate change,” she added.
The Fund is mandated to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to economic and non-economic loss and damage associated with the adverse effects of climate change, including extreme weather events and slow onset events.
The Board is composed of 26 members from Parties to the United Nations Framework Convention Climate Change (UNFCCC) and its Paris Agreement, with 12 members from developed country Parties and 14 members from developing country Parties.
The Philippines occupies one of three seats for Asia-Pacific States. The board member representing the Philippines is Mark Dennis Joven, with Board Adviser Leila Lora-Santos. DMS
