Legarda files bill to establish PH as Loss and Damage Fund Host

Following the Philippines’ landmark selection as host to the United Nations’ Loss and Damage Fund Board, Senator Loren Legarda has filed a Senate bill to facilitate its legal establishment and operations in the country.

The country won its bid to host the Loss and Damage Fund Board at the meeting held in Songdo, South Korea on July 9, 2024. Senator Legarda, United Nations Office for Disaster Risk Reduction (UNDRR) Global Champion for Resilience and one of the country’s foremost advocates for environmental protection, filed the Senate version of “The Loss and Damage Fund Board Act” on July 18, 2024.

The proposed Loss and Damage Fund Board Act will enable the Philippines to fulfill its hosting obligations by granting the Board juridical personality and legal capacity, allowing it to enter contracts, manage properties, and collaborate with the World Bank as the Fund’s interim secretariat. These legal capacities are requirements for the Philippines to begin its term as the host country.

As the host, the Philippines will act as a steward of the Board by providing a supportive environment, ensuring easy access to its operational needs, and facilitating the Board’s requirements for effective operations.

Hosting the Loss and Damage Fund Board would enable the Philippines to demonstrate its commitment to advocating for the developing world, promote its national response plans for climate-induced hazards and disasters, and increase awareness of the importance of international cooperation. It also puts the country in an advantageous position as it would unlock better opportunities for accessing climate finance and foster international and regional collaboration for technology development, transfer, and capacity-building.

Senator Legarda emphasized that this selection as host comes with great responsibilities.

“The passage of the Loss and Damage Fund Board Act will mean that we, as a nation, are committed to our part in the multilateral effort to curb the global climate crisis,” Senator Legarda said.

“We will be one of the loudest voices representing the developing world and those most affected by climate change.”

Loss and damage refer to the negative consequences that arise from the unavoidable risks of climate change, including extreme weather events such as typhoons and severe rainfall, and slow onset impacts such as sea level rise and prolonged heatwaves. Most of these climate impacts disproportionately affect developing countries. The Loss and Damage Fund was operationalized, particularly to assist these most vulnerable countries.

“It is ironic that countries like the Philippines have very little contribution to the emissions that created climate change but are most affected by it,” said Senator Legarda.

“Our hosting of the Loss and Damage Fund is proof that the most affected can shape the future of climate policy. This bill enables us as a country to deliver a concrete legacy for future generations.” (30)