Explanation of Vote of Senator Loren Legarda on Senate Bill no. 2780 or the Loss and Damage Fund Board Act

EXPLANATION OF VOTE OF SENATOR LOREN LEGARDA
Senate Bill No. 2780
The Loss and Damage Fund Board Act
Senate of the Philippines
August 19, 2024
Senate of the Philippines

Mr. President,

I express my heartfelt gratitude and commend Senator Imee R. Marcos for her decisive leadership in steering this bill to its approval on third reading.

As the principal author of this bill, I cast my affirmative vote to uphold our international commitments, strengthen national climate resilience, and advance global climate justice.

By granting juridical personality and legal capacity to the Loss and Damage Fund Board, we commence and ensure the effective operation of this UN-established fund to address climate impacts causing loss and damage, particularly to developing countries.

This legislation strengthens our leadership in climate action, fosters international cooperation, and secures vital support for confronting climate challenges, while also enhancing our national climate plans, global policy influence, and access to finance.

Today, we reaffirm our commitment to our international obligations, to Climate Justice, and to building a more climate-resilient future for our nation.

Maraming Salamat at isang luntiang Pilipinas sa ating lahat.