ENVIRONMENT Secretary Raphael Lotilla on Monday welcomed an advisory opinion issued by the International Court of Justice affirming the legal obligations of all States to address climate change and protect vulnerable ecosystems.
Lotilla underscored the importance of unity in the fight for climate justice
“The Fund was created not just as a financial mechanism, but as a testament of solidarity with those who share this burden. Together, we must amplify our voices and actions, ensuring that no nation faces the ravages of climate change alone,” he said.
Fresh from hosting the 6th board meeting of the Fund for responding to Loss and Damage (FrLD), Lotilla echoed the President Marcos’ statement that “business-as-usual is not an option when addressing loss and damage.”
“Every delay translates to disrupted lives and lost opportunities for thousands of families who struggle against the backdrop of a warming planet. The cost of inaction is far too high; the moment for change is now,” the President said.
Marcos earlier said the Loss and Damage Fund is seen as a lifeline for countries facing the direst consequences of climate change and lacking the resources to recover adequately.
The Loss and Damage Fund is a climate finance mechanism created during the 27th Conference of Parties (COP) held in Egypt in 2022.
It is a global initiative aimed at assisting developing countries in addressing the adverse effects of climate change.
The Fund’s pilot phase called the Barbados Implementation Modalities was focused on providing initial financial support through grants to developing countries.
This phase will involve developing funding.
Meawnhile, the Philippines will host the 7th board meeting of the Fund in October in Manila.
“This upcoming meeting is crucial as it will likely provide significant updates on the operationalization and resource mobilization of the fund, paving the way for its initial implementation,” Lotilla said.
He stressed the need for the international community to lend their support to sustain the fund.
“We call on nations to fulfil their promises of solidarity,” he said.
