MANILA  – The Climate Change Commission (CCC) has praised the Philippines’ selection as host of the Loss and Damage Fund (LDF) Board.

The Philippines was selected to host the Board during the 2nd Loss and Damage meeting held at Songdo, South Korea on July 9, trumping other developing nations. 

“The unanimous decision by the LDF Board affirms the Philippines’ leadership - under President Ferdinand Marcos Jr. – in transformative climate action and demonstrates stakeholder confidence in the country’s commitment to constructively contribute towards global efforts to address climate change,” said CCC Vice Chairperson and Executive Director Robert E.A. Borje. 

PH elected as climate change loss and damage fund board host 

The LDF is an international financial mechanism designed to provide support to climate-vulnerable countries in their recovery efforts from climate change-related economic and non-economic loss and damage. 

The support is provided in the form of grants and concessional financing which can be accessed by eligible countries. 

Recognizing the vulnerability of the country to the impacts of climate change, President Marcos prioritized strengthening the country’s measures to climate change. 

This proved his keen interest to secure a spot in the LDF Board, prompting the establishment of a technical working group in March to prepare for the country’s bid submission. 

Led by the Department of Environment and Natural Resources, the country's bid offer was the result of collaboration among members of the interagency technical working group composed of the Department of Finance, the Department of Foreign Affairs, the Department of Budget and Management, and the CCC.

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“The LDF is a vital step in mobilizing the much-needed support for nations most at risk to climate change to further bolster capacities to recover, rebuild, and transform better,” said Borje.

The LDF Board is responsible for establishing the Fund's direction, managing its operations, and developing its work program. It consists of 26 members representing parties to the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement, which includes the Philippines, 12 developed and 13 other developing countries.