Climate fund
TO the more than 100 million Filipinos, the Philippines getting a board seat in a new global climate fund is a welcome development amid the worsening of climate change.
Climate change impacts in the country are immense, including changes in rainfall patterns and distribution, droughts, threats to biodiversity and food security, and sea level rise.
In a video message, no less than President Marcos said that he was pleased to hear that the Philippines has secured a membership in the 23-member Loss and Damage Fund (LDF).
“This will give the voice in the management of all funding that is available around the world to mitigate and adapt to the effects of climate,” President Marcos said.
The LDF is a financing facility under the auspices of the United Nations (UN), with former Finance Undersecretary Mark Joven representing the country in the 23-member LDF board.
“We hope that we will be able to access it (LDF) with some greater efficiency than the other funds that are available,” according to Environment Secretary Maria Antonia Yulo-Loyzaga.
Rich countries have reportedly pledged about $700 million to the LDF, said Loyzaga.
The government must remain on high alert against possibilities of bigger problems posed by climate change amid the failure of society to stop depending on fossil fuels.
Thus, we welcome the creation of the Loss and Damage Fund to help the world’s vulnerable countries, like the Philippines, cope with the damaging impacts of climate change.
Malaking tulong ang LDF sa mga bansang kagaya ng Pilipinas.
