Philippines Chosen to Host Global Climate Fund Board, Boosting Leadership in Climate Action

MANILA — The Philippines has been selected to host the board of the Loss and Damage Fund (LDF), a decision that underscores the nation’s proactive stance and leadership in addressing global climate change challenges.

According to Philippines News Agency, the selection was based on the Philippines’ robust commitment to and implementation of concrete climate actions. “We were chosen because of our strong commitment and concrete climate actions on the ground, and we thank the President for his steadfast support and dedication in making this happen,” Recto stated on Wednesday. He further noted that hosting the LDF Board would enhance the Philippines’ ability to access climate finance and investments, which are vital for the country’s economic resilience and the promotion of sustainable growth.

The LDF is designed to assist countries in responding to and recovering from the adverse effects of climate change. The Philippines earned a seat on the LDF Board in December 2023 and was selected as the host during the board’s second meeting in Songdo, South Korea, on July 9, 2024. This selection positions the Philippines over seven other candidates, including Antigua and Barbuda, Armenia, The Bahamas, Barbados, Eswatini, Togo, and Kenya.

To prepare for this achievement, President Ferdinand R. Marcos Jr. established a technical working group (TWG) on March 1, 2024, tasked with organizing the country’s bid. This bid was spearheaded by an interagency team from the DOF, the Department of Environment and Natural Resources, the Department of Foreign Affairs, the Department of Budget and Management, and the Climate Change Commission.

By hosting the LDF Board, the Philippines aims to attract significant international support and financial contributions for addressing climate-related losses and damages. The country also plans to use this opportunity to showcase its own initiatives, transformative reforms, and science-based innovations in adaptation, mitigation, and disaster risk management, aligned with its national strategies.