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PHL on UN’s climate fund board
The Philippines has secured a seat on the inaugural board of the Loss and Damage Fund during COP28, which Environment Secretary Ma. Antonia Yulo-Loyzaga confirmed on Thursday, December 14.
The country will represent the Asia-Pacific Group as a full member for 2024 and 2026, and as an alternate member in 2025, sharing its term that year with Pakistan.
Secretary Loyzaga stated that this seat provides an opportunity for the Philippines to influence decisions on fund access and speed.
The Philippines aims to be the voice of developing countries vulnerable to climate change and has been a long-time advocate for the fund's establishment.
Former finance undersecretary Mark Joven has been nominated as the country's representative to the board.
The Loss and Damage Fund Board has already received over $700 million in pledges from countries like Germany, the UAE, and the UK.
President Marcos also expressed the Philippines' goal to host the Loss and Damage Fund board in the future.
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Environment Secretary Maria Antonia Yulo-Loyzaga stated that the Philippines is the "most qualified" to host the board of the loss and damage fund (LDF), citing the country's vulnerability to climate change impacts and its role in promoting equitable global commons governance.
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President Ferdinand "Bongbong" Marcos Jr. will seek support from ASEAN members and other participating nations, including Japan and Australia, for the Philippines' bid to host the board of the Loss and Damage Fund.
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