THE Philippines will host the fourth board meeting of the United Nations’ Fund for Responding to Loss and Damage in Manila on Dec. 2-5, Environment Secretary Maria Antonia Yulo-Loyzaga said on Friday.
President Ferdinand Marcos Jr. on Aug. 28 signed Republic Act 12019, or the Loss and Damage Fund Board Act, which enables the country to respond to and recover loss and damage caused by climate change. The law also authorizes the mobilization of broad and innovative sources of climate financing for this purpose.
“I have met with the co-chairs, and together with the newly elected executive director, we hope to explore ways that the Philippines and the Fund can work together to accelerate operationalization so we can contribute to achieving the goals of the Fund,” Yulo-Loyzaga said.
The Philippine government, through the technical working group, is working closely with the co-chairs of the board of the Fund to finalize the Host Country Agreement, which would give the board with the necessary privileges and immunities required for its effective operation.
Yulo-Loyzaga is also set to attend and lead the Philippine delegation at the 29th Conference of the Parties to the United Nations’ Framework Convention on Climate Changeon Nov. 11-22 in Baku, Azerbaijan. She said the event would highlight the Philippine experience: “We are paying close attention to discussions on our oceans, just as we are watching life on land.”
The environment chief expressed “cautious optimism” as the Philippines follows up on previous commitments, such as an annual $100-billion fund for global climate finance.
“Limited fiscal space in climate-vulnerable developing countries means we need urgent access to the best science, along with new, additional and appropriate financing and innovative mechanisms and instruments from public and private sources,” Yulo-Loyzaga said.
She noted the need for equal attention on critical issues such as agriculture and fisheries, water security, public health, climate change-induced mobility, urbanization, local resilience and the developments in carbon and biodiversity markets.
Yulo-Loyzaga also mentioned the importance of linking the Sustainable Development Goals under UN auspices and the Plastics Treaty, as well as other international commitments.
“All these must be linked because they rely on human and largely political decisions and actions, and are truly interdependent,” she said.
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