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Marcos: PH as host of climate disaster fund to symbolize 'inclusivity'
The Philippines is formally bidding to host the Loss and Damage Fund at COP28, a global fund established to assist vulnerable nations in coping with the devastating effects of climate change.
President Ferdinand Marcos Jr. stated in a speech delivered by Environment Secretary Maria Antonia Yulo-Loyzaga that hosting the fund would highlight the disproportionate impacts of climate change on developing nations.
The Philippines believes it is qualified to host the fund due to its high vulnerability to climate-related disasters.
The country is also seeking a position on the Loss and Damage Fund Board.
A breakthrough agreement to establish the Loss and Damage Fund was reached at COP27 in 2022, and this year at COP28, delegates adopted the fund with initial contributions announced by various governments.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Philippines will bid to host the Loss and Damage Fund, a crucial victory for climate change-vulnerable nations established at the COP28.
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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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President Ferdinand Marcos Jr. will attend the UN Climate Change Conference (COP28) in Dubai, UAE, starting tomorrow, November 30.
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