PH promotes bid to host climate fund | Inquirer News

PH promotes bid to host climate fund

By: - Reporter / @JeromeAningINQ
/ 05:20 AM December 11, 2023

DENR Secretary Maria Antonia Yulo-Loyzaga

DENR Secretary Maria Antonia Yulo-Loyzaga — Leagogo

The Philippine delegation to the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Dubai has promoted the country’s qualifications to host the proposed climate change “board of loss and damage fund,” Malacañang said on Sunday.

In a statement, the Palace said that the delegation, led by Environment Secretary Antonia Yulo-Loyzaga, told the COP28 that the Philippines is most qualified to host the historic board not only for being a living testament to the effects of climate change, but also with its abiding interest in promoting equitable and just rules in the governance of the global commons.


“Our national footprint in the history of negotiations of the UN Convention on the Law of the Sea, the Convention on Biological Diversity, the UNFCCC and its Paris Agreement, as well the High Seas Treaty or the Biodiversity Beyond National Jurisdiction Agreement bears witness to our abiding interest in promoting equitable and just rules in the governance of the global commons,” Yulo-Loyzaga said.


Board seat eyed

“Our commitment to multilateralism, strengthened international cooperation and global solidarity remains steadfast, recognizing that no single country can tackle the complexities of climate change alone,” she added.

Yulo-Loyzaga said the country is also seeking a seat in the inaugural board of the fund.

According to news reports, the initial funding worth around $429 million will come from the European Union, United Kingdom, United States and Japan. The World Bank will also serve as the interim host and trustee for the fund.

Yulo-Loyzaga told the COP28 that hosting the fund in the Philippines will showcase global commitment to inclusivity, ensuring that the voices and experiences of the most affected countries are heard and considered in shaping the most urgent of global climate policies.

“We are already host to UN entities, international and regional organizations, providing us the institutional capacity, expertise and partnerships to ensure the successful hosting of the Board. And we stand ready to offer our knowledge grounded in our long history and culture of human resilience,” the secretary said.

As the climate negotiations in Dubai are nearing their culmination on Tuesday, advocacy and environmental groups are calling on the Philippine government to “use its voice” in demanding a global phaseout of fossil fuel and push for a transition to 100-percent renewable energy. —WITH A REPORT FROM JANE BAUTISTA INQ

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TAGS: Climate Fund

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