PH to host Loss and Damage Fund Board meeting in December

Department of Environment and Natural Resources Secretary Ma. Antonia Yulo-Loyzaga said Wednesday that the Philippines would host a Loss and Damage Fund Board meeting in December.

“In December there will be a meeting here of the Loss and Damage Fund Board—we will be the hosts, and we hope that there will be certain agreements reached, [one of which is] who will be actually funding the Loss and Damage Fund Board,” Loyzaga said at a Palace press briefing.

“The whole idea of the board and the fund is actually so that there can be funding sources from other than countries specifically,” she added.

In August, Marcos signed Republic Act 12019 that granted legal personality and capacity to the board of the climate disaster fund.

The Board, as the governing body of the fund, shall have juridical personality with full legal capacity to contract, acquire, and dispose of immovable and movable property, as well as institute legal proceedings.

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.

In July, the Philippines was selected to host the board. —VBL, GMA Integrated News