Environment Secretary Maria Antonia Yulo-Loyzaga. (PNA Photo by Darryl John Esguerra)
MANILA – The Board of the Loss and Damage Fund, the body mandated to lead the management of funds to assist climate-vulnerable developing countries, will reconvene for its fourth meeting in Manila this December, Environment Secretary Maria Antonia Yulo-Loyzaga said Wednesday.
The Department of Environment and Natural Resources (DENR) is currently finalizing the host country agreement with the United Nations Framework Convention on Climate Change (UNFCCC), which will formalize the country’s hosting of the Board, according to Yulo-Loyzaga.
Among the topics to be prioritized during the board meeting is the identification of additional funding sources other than those coming from member countries.
“Right now, the funding of the Board still is at around less than USD700 million. Most of that will actually be used in setting up the operations of the Fund,” Yulo-Loyzaga said in a Palace press briefing.
To recall, developed countries have previously pledged about USD700 million to the Loss and Damage Fund.
According to the DENR chief, small-island nations in the Pacific are expected to be prioritized once the Board starts operationalizing the Fund.
“They are exposed, they are vulnerable, their cultures are also being threatened because their cultures really revolve around their seafaring life and civilization. So, kanila po existential siya (it's existential for them) on many levels – economic, environmental, cultural. So, these are the ones that will probably be the first ones in line kapag kino-consider na (to be considered),” she said.
The Loss and Damage Fund Board held its second and third meeting in South Korea in July.
The Board has 26 members from parties to the UNFCCC and the Paris Agreement, with 12 members from developed countries and 14 from developing countries.
The Philippines sits in the Asia-Pacific Group of the Board.
Mining violators
In the same press conference, Yulo-Loyzaga bared that the DENR is closely coordinating with other concerned agencies to investigate an illegal mine in Paracale, Camarines Norte where 11 Chinese nationals were found working despite having only tourist visas.
“There is a lot of cooperation that is ongoing between the different agencies,” she said.
She said they would follow the procedures regarding the closure of the mine but noted that “the situation is not looking good for them.” (PNA)
