The Philippines is now in a good position to articulate its concerns on climate change and extreme weather after its selection as host country of the Board of the Fund for responding to Loss and Damage (FrLD).
The Fund aims to raise $1.3 trillion annually by 2035 with pledges coming from developed countries.
Ibrahima Cheikh Diong, the inaugural executive director of the Board of the FrLD, said being a member of the board and host of the fund was an added value for the Philippines.
“Being on the Board obviously is an opportunity for the country to voice its concerns from the perspective of the Philippines. The other countries can learn from the Philippine example, and it can learn from other countries,’ Diong said.
The selection of the Philippines as host country of the FrLD is “very symbolic” and will showcase all the good work the government is doing towards climate change adaptation, the head of the global fund that will support climate-vulnerable countries said.
In an interview with Malacañang press briefer Daphne Oseña-Paez, Diong praised President Ferdinand Marcos Jr. for his vision and dedication to the climate fund’s success.
The United Nations established the Fund with contributions from developed countries to assist vulnerable developing countries that have suffered losses and damages from climate change.
The board, comprising 26 members from developed and developing countries, will manage and supervise the fund, which has received over $700 million in pledges from developed countries.
The Philippines, one of the countries most vulnerable to extreme weather caused by climate change, was selected as the Fund’s “home” in Dubai last year. Following COP29 in Baku, Azerbaijan last month, the board held its fourth meeting on December 2-5 at the Philippine International Convention Center.
Diong expressed hope that President Marcos’ support would inspire other heads of state to become champions of the Fund.
“We are inspired by his vision, his dedication, and his commitment to climate action,” Diong said.
The Board meeting came on the heels of last month’s 29th session of the Conference of Parties (COP), the international meeting focusing on climate change, the main decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC).
The Fund aims to raise $1.3 trillion annually by 2035 with pledges coming from developed countries.
Diong cited the efforts of the Department of Environment and Natural Resources (DENR) team for the success of the recently concluded Fund Board meeting, describing as “remarkable” how it managed to mobilize the government, into believing in the Fund.
In Baku, Diong cited that the Philippines speaks eloquently about its commitment to make the Fund a success.
Diong said that while progress has been made towards operationalizing the Fund since it was established last year, “we still have a long way to go” in converting the pledges into actual funding.
“We are moving slowly but surely on the pledges. We can do two things at the same time: converting the pledges and mobilizing additional resources so we can meet the demands of the vulnerable countries,” Diong said. DENR News
