President Ferdinand ‘Bongbong’ Marcos Jr. on Thursday, Dec. 14, announced that the Philippines secured a full membership seat in the Loss and Damage Fund Board for 2024 and 2026 and alternate membership for 2025.
The seat was garnered following the conclusion of the 28th United Nations Climate Change Conference (COP28) held in Dubai last week.
“I am very gratified to hear the news that the Philippines has secured a membership on Loss and Damage Fund Board for the year 2024 and the year 2026, serving as an alternate for 2025,” Marcos said in a video message posted by the Presidential Communications Office.
The seat, according to Marcos, will give the country the voice “in the management of all funding that is available around the world” and “adapt to the effects of climate change.”
“The next step we are hoping to achieve is to host the Damage and Loss Fund here in the Philippines so that because after all, we are very much in the mix when it comes to climate change effects,” he said.
The President believes that the country has a strong voice in raising climate change issues.
In a Palace press briefing, Environment Secretary Antonia Yulo-Loyzaga, who led the Philippine delegation at COP28 in Dubai, confirmed the news.
“We are very fortunate and lucky to work hard and of course, with the vision of the President, we have garnered a seat in the Loss and Damage Fund Board,” she said.
“There will be a term sharing. For the three terms, we will have two years, the first year is the inaugural year 2024 and 2026. In the year 2025, we will have a term sharing with Pakistan which is the other Asia Pacific part of the board,” the Energy Secretary added.
She said the Philippines as a board member would represent the climate-vulnerable countries in the developing world that need to learn to adapt and mitigate climate change.
“Beyond that, in terms of loss and damage, what needs to be given in these countries in order to thrive and to survive the impacts of climate change,” Loyzaga said.
