PH to Host Board of the Loss and Damage Fund

PASAY 09 July 2024 – The Philippines was selected to host the Board of the world’s Fund for Responding to Loss and Damage during the second meeting of the Board held today in Songdo, Korea.

Established through a decision of the Parties to the UNFCCC and the Paris Agreement, the Fund aims to assist developing countries that are particularly vulnerable to the adverse effects of climate change in responding to economic and non-economic loss and damage associated with climate change, including extreme weather and slow-onset events.

The Board is the Fund’s decision-making body responsible for setting the Fund’s strategic direction, operations, and work programme. 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, represented by Atty. Mark Dennis Joven.

The Philippines’ decision to offer to host the Board of the Fund, which was announced by President Ferdinand Marcos Jr. as soon as the Fund was operationalized during COP28 in Dubai, is in keeping with our long-standing engagement on discussions of the Fund and our belief that all States must contribute to the success of its institutional architecture.

The Philippines’ proposal, which was an outcome of a coordinated inter-agency effort led by the DENR, was selected among eight (8) country offers received by the Board, reflecting widespread confidence in the Philippines’ ability and commitment to global climate action and equity.

As Host, the Philippines is dedicated to ensuring the accessibility of the Board not only for its Members or the Secretariat but also for all Parties participating in the official business of the Board. The Philippines will serve as a committed steward of the Board’s efficient operations, and ensure a supportive environment for the performance of its mandate.

The DFA will continue to work with DENR and other concerned agencies in the next steps in the finalization of the hosting arrangements for the Board in the Philippines. END