Mayor Binay hopes LGUs can access Loss and Damage Fund
MAKATI, Philippines — Makati City Mayor Abby Binay on Tuesday expressed hope that local government units can have access to the Loss and Damage Fund (LDF), which the Philippines got elected to host its board.
“Umaasa ako na mabibigyan ng access ang ating mga local government sa Loss and Damage Fund na ating isinulong noong tayo ay dumalo sa COP 28 sa Dubai bilang myembro ng advisory council ni COP President Dr. Sultan Al Jaber,” Binay said in a statement.
(I am hoping that our local government units will be given access to the Loss and Damage Fund that we pushed for when we attended COP 28 in Dubai as a member of the advisory council of COP President Dr. Sultan Al Jaber.)
The LDF is a financing facility created by the United Nations to help vulnerable countries cope with the increasingly costly and damaging impact of climate change.
READ: Philippines elected to host Loss and Damage Fund Board
Furthermore, Binay said President Ferdinand Marcos Jr. “has underscored the need for global solidarity in assisting vulnerable countries rebuild and recover” with the country hosting the LDF Board.
The mayor also commended Marcos for recognizing the vulnerability of the country to climate change and discussing plans to address it.
READ: Marcos stresses PH vulnerability to climate change in 3rd Sona
“Without confronting climate change, our efforts in securing food, and enhancing the productivity of our farmers are in vain,” she said.
Binay was named in September 2023 as a member of the COP 28 or the United Nations Climate Change Conference focusing on Climate Finance and Loss and Damage.
