MANILA – The selection of the Philippines as host of the Loss and Damage Fund (LDF) Board reflects the international community's confidence in the Philippines' leadership under President Ferdinand R. Marcos Jr.
In a statement on Thursday, Climate Change Commission (CCC) Vice-Chairperson and Executive Director Robert E.A. Borje said the decision is a significant step in the global fight against climate change.
“As a nation that constantly faces climate-related disasters, the Philippines has championed and advocated the urgent establishment of robust mechanisms to prevent and reduce losses and damages,” Borje said.
He added that the LDF is a crucial initiative aimed at mobilizing much-needed financial support for nations most at risk of climate change.
It will provide vital resources to help these countries to recover, rebuild, and adapt to the ever-changing climate.
The Philippines, as LDF Board host, will play a significant role in ensuring its efficient, and effective operations, and the facilitation of the flow of funds to those who need them most.
Borje emphasized the Philippines' commitment to advancing its core interests in climate adaptation and mitigation while remaining a responsible member of the international community.
Borje welcomed the selection of the Philippines as host of the LDF Board as he assures CCC’s commitment to advance core Philippine interests in climate adaptation and mitigation in all relevant fora.
The LDF is a global financial mechanism designed to provide support to countries’ response and recovery from losses and damages caused by climate change.
The Philippines secured a seat on the Board in December 2023.
To secure the spot to host the LDF Board, President Ferdinand R. Marcos Jr. established a technical working group (TWG) on March 1, 2024 to prepare the country’s bid submission.
The country’s bid offer was spearheaded and prepared by the TWG interagency team composed of the DOF, the Department of Environment and Natural Resources, the Department of Foreign Affairs, the Department of Budget and Management, and the CCC.
The Philippines was chosen over seven other contenders namely Antigua and Barbuda, Armenia, The Bahamas, Barbados, Eswatini, Togo, and Kenya.
The 26-member LDF Board selected the Philippines as the host during its second board meeting in Songdo, South Korea on July 9, 2024.
Meanwhile, Environment Secretary Maria Antonia Yulo-Loyazaga said Friday that the Philippines would serve as the voice of countries most vulnerable to climate change at the LDF Board.
“Our being chosen as the host of the Loss and Damage Fund Board is a choice really for all climate-vulnerable countries. The Philippines has always been and will continue to be in firm solidarity with all climate vulnerable and developing countries on this issue,” Yulo-Loyzaga said in a press briefing in Makati.
As the newly elected host of the LDF Board, she said that a permanent office would be established in the country and that the Philippines would provide all the institutional needs for the operation, including personnel.
Loyzaga said that this has a significant meaning as most international organizations are located in developed countries.
She said that the Philippine commitment to host the Board was critical at this time not solely in terms of addressing the impacts of climate change within the country’s borders, but also in the institutionalization of global efforts to address the threats of climate change.
Loyzaga said the LDF was established with the goal of addressing the inability of some country members to the Paris Agreement to meet, cope, and adapt to the impacts of climate change, especially countries most vulnerable to it.
The LDF Board has 26 members, 12 from developed countries and 14 from developing countries. (PNA)
