Marcos reiterates PH’s offer to host Loss and Damage Fund

MELBOURNE, Australia – President Ferdinand ”Bongbong” Marcos Jr. on Wednesday reiterated the Philippines’ offer to host the climate disaster fund called “Loss and Damage Fund.”

”The Philippines welcomes the outcomes of the COP28 and I wish to take this opportunity to reiterate our offer to host the Board of the Loss and Damage Fund,” Marcos said during his intervention at the Leaders’ Plenary Session at the ASEAN-Australia Special Summit here.
 
”Hosting the Board in the Philippines would showcase global commitment to inclusivity, ensuring that the voices and experiences of the most affected countries are heard and considered in shaping the most urgent of global climate policies,” he said. 

Marcos mentioned that the Philippine government has already taken concrete actions to address climate change ”by implementing policies and initiatives to reduce emissions by catalyzing investments in our rich sources of renewable energy.” 

”We thus invite Australia to partner with the Philippines in our clean, green, and renewable energy industry and other emerging technologies, and introduce energy efficiency and conservation measures,” he said. 

Speaking before the Lowy Institute on Monday, Marcos noted that climate change poses a “deadly challenge” in the Pacific region and threatens the very survival of millions, especially those in the small island developing states in the Pacific.

The Philippine government in December last year secured a seat on the board of the Loss and Damage Fund, which seeks to help poor nations cope with costly climate disasters.

The country’s Department of Environment and Natural Resources said the Philippines is “most qualified” to host the Loss and Damage Fund because it is a living testament to the effects of climate change. —KBK, GMA Integrated News