PH elected as climate change loss and damage fund board host
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PH elected as climate change loss and damage fund board host
MANILA — President Ferdinand Marcos Jr. on Tuesday announced that the Philippines has been elected to host a United Nations panel in charge of funding for responding to loss and damage due to climate change.
MANILA — President Ferdinand Marcos Jr. on Tuesday announced that the Philippines has been elected to host a United Nations panel in charge of funding for responding to loss and damage due to climate change.
“I am proud to announce that the Philippines has been elected to host the Loss and Damage Fund (LDF) Board, out of seven other contenders,” the President said in a social media post.
“I am proud to announce that the Philippines has been elected to host the Loss and Damage Fund (LDF) Board, out of seven other contenders,” the President said in a social media post.
“We are also honored to have a seat on the Board itself, ensuring that the Philippines will be a formidable voice in promoting and advancing global climate action— an issue of critical interest to the country,” he said.
“We are also honored to have a seat on the Board itself, ensuring that the Philippines will be a formidable voice in promoting and advancing global climate action— an issue of critical interest to the country,” he said.
Under the United Nations Framework Convention on Climate Change (UNFCCC), the LDF Board is “entrusted with the operation of the Financial Mechanism of the Convention, which would also serve the Paris Agreement.”
Under the United Nations Framework Convention on Climate Change (UNFCCC), the LDF Board is “entrusted with the operation of the Financial Mechanism of the Convention, which would also serve the Paris Agreement.”
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Its mandate includes “a focus on addressing loss and damage to assist developing countries that are particularly vulnerable to the adverse effects of climate change.”
Its mandate includes “a focus on addressing loss and damage to assist developing countries that are particularly vulnerable to the adverse effects of climate change.”
The Philippines was elected to host the LDF Board at the second meeting of the Board of the Fund for responding to loss and damage.
The Philippines was elected to host the LDF Board at the second meeting of the Board of the Fund for responding to loss and damage.
The 26-member LDF Board is composed of 12 members from developed country Parties and 14 members from developing country Parties.
The 26-member LDF Board is composed of 12 members from developed country Parties and 14 members from developing country Parties.
“Hosting the LDF Board reinforces our dedication to inclusivity and our leadership role in ensuring that the voices of those most affected by climate change shape the future of international climate policies,” Marcos Jr. said.
“Hosting the LDF Board reinforces our dedication to inclusivity and our leadership role in ensuring that the voices of those most affected by climate change shape the future of international climate policies,” Marcos Jr. said.
At its first meeting, the Board elected Richard Sherman (South Africa) and Jean-Christophe Donnellier (France) as its co-chairs for a term of one year.
At its first meeting, the Board elected Richard Sherman (South Africa) and Jean-Christophe Donnellier (France) as its co-chairs for a term of one year.
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The Philippines is among the countries that will represent Asia-Pacific states in the Board.
The Philippines is among the countries that will represent Asia-Pacific states in the Board.
Finance Undersecretary Mark Dennis Y.C. Joven is the Philippines’ representative in the board. He is a CPA-lawyer, who is licensed to practice both in the Philippines and in New York.
Finance Undersecretary Mark Dennis Y.C. Joven is the Philippines’ representative in the board. He is a CPA-lawyer, who is licensed to practice both in the Philippines and in New York.
Aside from the Philippines, seven other countries submitted proposals to the board.
Aside from the Philippines, seven other countries submitted proposals to the board.
The Fund’s secretariat, on the other hand, will be housed at the World Bank, which will be its interim host for the next four years.
The Fund’s secretariat, on the other hand, will be housed at the World Bank, which will be its interim host for the next four years.
The Loss and Damage Fund was operationalized by the Conference of Parties (COP) and the Conference of the Parties serving as the Meeting of the Parties to the Paris Agreement (CMA) during its 28th and fifth sessions.
The Loss and Damage Fund was operationalized by the Conference of Parties (COP) and the Conference of the Parties serving as the Meeting of the Parties to the Paris Agreement (CMA) during its 28th and fifth sessions.
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The fund was established to address loss and damage, or the “negative consequences that arise from the unavoidable risks of climate change, like rising sea levels, prolonged heatwaves, desertification, the acidification of the sea and extreme events, such as bushfires, species extinction and crop failures,” as defined by the United Nations Environment Programme.
The fund was established to address loss and damage, or the “negative consequences that arise from the unavoidable risks of climate change, like rising sea levels, prolonged heatwaves, desertification, the acidification of the sea and extreme events, such as bushfires, species extinction and crop failures,” as defined by the United Nations Environment Programme.
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