The Philippines has renewed its call for climate justice as it pushes for greater support and faster access to the fund for climate-vulnerable nations during the opening of the two-day 7th Meeting of the Board of the Fund for Responding to Loss and Damage (FRLD) hosted by the Philippines, which started on Tuesday, Pasay City.<\/p>\n
In his opening speech, speaking on behalf of President Ferdinand R. Marcos Jr., Department of Environment and Natural Resources Secretary Raphael Lotilla urged the international community to scale up financial contributions to the fund.<\/p>\n
\u201cThe Philippines stands in solidarity with all climate-vulnerable nations whose survival and resilience depend on the effectiveness of this Fund,\u201d Lotilla said.<\/p>\n
\u201cAs we begin our work, allow me to underscore one central point: the ability of the Fund to deliver depends on its capitalization. While pledges to date have been encouraging, the current levels of capitalization are insufficient to match the scale of needs we know are coming,\u201d he added.<\/p>\n
Lotilla cited global estimates, which, he said, point to around USD200 billion to USD400 billion annually in loss and damage by 2030, \u201cyet today, the Fund holds only a fraction of this requirement.\u201d<\/p>\n
He stressed that the effectiveness and credibility of the FRLD are anchored on how it can quickly and efficiently channel resources to countries most affected by climate change.<\/p>\n
Lotilla underscored the need to prioritize the operationalization of the Barbados Implementation Modalities and make access to the Fund\u2019s resources simpler, timelier, and country-driven, specifically for developing nations with limited capacity.<\/p>\n
\u201cThe credibility of the Fund will rest on how quickly and effectively it can move resources where they are most urgently needed,\u201d he said.<\/p>\n
He also emphasized the importance of developing a long-term resource mobilization strategy with clear and realistic goals that would diversify sources of finance and ensure the Fund\u2019s stability, predictability, and sustainability.<\/p>\n
Lotilla underscored that global cooperation is key to building a comprehensive response that supports the survival and resilience of vulnerable nations.<\/p>\n
Meanwhile, FRLD Co-Chair Richard Sherman expressed gratitude for the Philippines\u2019 political leadership and hospitality in hosting the meeting, commending the country\u2019s consistent support for the Fund\u2019s mission.<\/p>\n
\u201cYou’ve given us very clear direction on your expectations of what we should deliver for this fund at this meeting and for the fund going forward,\u201d he said.<\/p>\n
\u201cThank you very much for the hospitality that we get, but also the political support that the Government of the Philippines gives to this board and to this fund. It is very much appreciated,” he added.<\/p>\n
At the 80th United Nations General Assembly (UNGA) in New York in September, the Philippines successfully co-organized a high-level event on Responding to Loss and Damage with the FRLD to build financial and political momentum for its capitalization.<\/p>\n
During the event, Foreign Affairs Secretary Ma. Theresa Lazaro urged nations to \u201cstand firmly\u201d behind the Fund, emphasizing that the consequences of climate impacts are not only a climate issue but a global economic challenge.<\/p>\n
The Philippines currently holds a seat on the 26-member FRLD Board as the representative of the Asia-Pacific Group.<\/p>\n
In July 2024, it was selected as the host country for the Board, prompting the passage of a law granting juridical personality to the Fund\u2019s Board in the Philippines.<\/p>\n
Lotilla reaffirmed the country\u2019s commitment to help make the Fund fully operational and effective, ensuring that climate-vulnerable countries can access much-needed support.<\/p>\n
\u201c\u201cThe world looks to this Fund with great expectation,\u201d he said, as he urged the Board to ensure that the Manila meeting results in a Fund that is adequately resourced, fully operational, and effective where it matters most. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
The government urged the international community to ensure timely support for countries on the frontlines of climate change.<\/p>\n","protected":false},"author":1,"featured_media":6037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-6036","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sustainability"],"zyndk8_nxtgen_metadata":{"nxtgen_comments":[{"1127":"proud hosting ng pinas \ud83e\udd70\ud83c\udf0f\r","1128":"yes po climate justice talaga!! \ud83c\udf0d\r","1129":"i stand for earth \ud83c\udf0f\r"}]},"_links":{"self":[{"href":"https:\/\/greeninc.ph\/index.php?rest_route=\/wp\/v2\/posts\/6036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greeninc.ph\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greeninc.ph\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greeninc.ph\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/greeninc.ph\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6036"}],"version-history":[{"count":0,"href":"https:\/\/greeninc.ph\/index.php?rest_route=\/wp\/v2\/posts\/6036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greeninc.ph\/index.php?rest_route=\/wp\/v2\/media\/6037"}],"wp:attachment":[{"href":"https:\/\/greeninc.ph\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greeninc.ph\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greeninc.ph\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}