Metro Manila (CNN Philippines, December 9) – The Philippines wants a seat on the board of the Loss and Damage Fund, an international fund created by high-income countries that contribute the most to climate change and which aims to provide financial aid to nations most vulnerable to the effects of global warming.
The country also offered to host its annual meetings, Environment Secretary Maria Antonia Yulo Loyzaga said.
The board will be constituted at the 28th Conference of Parties to the United Nations Framework Convention on Climate Change (COP28).
READ: DENR: PH at COP28 to urge developed nations to fulfill climate commitments
In her address before the COP28 on Saturday, Loyzaga said: “At this juncture, I have the pleasure and honor to announce the offer of the Philippines to host the Board of the historic Loss and Damage Fund and we also seek a seat on that board, the first board that will be inaugurated.”
President Ferdinand Marcos Jr. earlier revealed that the Philippines would announce its offer to host the fund at the COP28.
READ: Marcos seeks support for PH bid to host climate ‘loss and damage’ fund
“Hosting the Board of the Loss and Damage Fund in the Philippines, a country that has experienced firsthand the ruthless force of nature’s wrath, would showcase global commitment to inclusivity, ensuring that the voices and experiences of the most affected countries are heard and considered in shaping the most urgent global climate policies.”
She said that the Philippines can successfully host the international fund, citing its previous hosting of United Nations entities, the World Health Organization, and the Asian Development Bank.
Marcos and the DENR called for its early operationalization of the board to hasten the distribution of aid to countries vulnerable to climate change.
Loyzaga earlier said the Philippines would benefit greatly from the fund as the country is currently dealing with rapid rise of sea-levels and widespread destruction from powerful tropical cyclones.
READ: DENR seeks quick access to ‘loss and damage fund’ for climate action
