“For the Philippines living with risks and loss and damage has been part of our history as an archipelago. We therefore have a deep and personal stake in ensuring that the fund for responding to loss and damage succeeds,” said Yulo-Loyzaga, who also heads the Philippine delegation at Baku.
“By hosting the board of the fund, we are invested in its dynamic and far-reaching mission of cooperation and solidarity by making resources accessible to those who need it the most,” she added.
The Fund for Responding to Loss and Damage (FRLD) was established at COP27 in 2022—more than 30 years since such a finance mechanism was first proposed.
When it was operationalized in Dubai in 2023, the fund received nearly $700 million in pledges.
This story was produced as part of the 2024 Climate Change Media Partnership, a journalism fellowship organized by Internews' Earth Journalism Network and the Stanley Center for Peace and Security. It was first published in GMA Integrated News on November 15, 2024. It has been lightly edited for length and clarity.
Banner image: John Adrian Narag, Director, Department of Finance, Philippines, at COP29 / Credit: Dean Calma via Flickr.
Jhoanna Lou Albano
