Loss and Damage Fund Board hosting gives PH voice on climate issues

President Ferdinand R. Marcos Jr. (PCO photo)

By Darryl John Esguerra, Philippine News Agency

MANILA – The Philippines’ upcoming hosting of the Board of the Loss and Damage Fund will provide the country with an influence in addressing climate change, President Ferdinand R. Marcos Jr. said Wednesday.

“Magiging malaki ang ating impluwensiya para lahat ng ating pangangailangan, lahat ng ating pananaw tungkol dito sa subject matter na ito ay maaari nating sabihin at maaring magka-influence tayo… May boses tayo na malakas (We will have an influence to say for all our needs, all our views on this subject matter we can say it and we can influence others. We will have a strong voice),” Marcos told reporters in an interview.

“Iyan ang pinaka-importanteng resulta sa pag-host ng Pilipinas sa Loss and Damage Fund Board (That is the most important result of the Philippines hosting the Loss and Damage Fund Board),” he added.

The Loss and Damage Fund is the global finance mechanism to assist developing countries in responding to economic and non-economic loss and damage associated with climate change, including extreme weather and slow-onset events.

The Board, as the Fund’s decision-making body, is responsible for setting the strategic direction, operations and work program of the mechanism.

It comprises 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.