Legarda lauds Senate’s passage of Loss and Damage Fund Board bill

Senator Loren Legarda lauded the Senate’s approval of the proposed Loss and Damage Fund Board Act on the third and final reading.

Legarda, the principal author of Senate Bill No. 2780, voted to approve the proposed measure, stating, “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.”

Legarda, recognized by the United Nations Office for Disaster Risk Reduction as a Global Champion for Resilience, filed the bill last July after the Philippines won the bid to host the Loss and Fund Damage Board.

The hosting of the Loss and Damage Fund Board demonstrates the Philippines’ ability and commitment to promoting global climate action and equity. It 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 interim secretariat host and trustee of the Fund.

Moreover, the senator believes that the implementation of the law, once signed by the president, will strengthen climate resilience and advance global climate justice.

“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,” said Legarda.
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Pinuri ni Senador Loren Legarda ang pagkakapasa ng Senado sa panukalang Loss and Damage Fund Board Act sa third reading.

Bumoto si Legarda, ang principal author ng Senate Bill No. 2780, na ipasa ang panukalang batas at sinabing, “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.”

Naniniwala rin si Legarda na palalakasin ng panukalang batas ang kakayahang makabangon sa mga kalamidad, pati na ang pagsusulong ng pandaigdigang katarungan mula sa sakunang pangklima.

Inihain ni Legarda, na kinikilala ng United Nations Office for Disaster Risk Reduction bilang isang Global Champion for Resilience, ang panukala noong Hulyo matapos makuha ng Pilipinas ang bid na maging host ng Loss and Damage Fund Board.

Sa pagpapasa ng batas na ito ay magkakaroon ng kakayanan ang bansa upang tuparin ang mga obligasyon nito bilang host. Mabibigyan ng juridical personality at legal na kapasidad ang Board, at magpapahintulot dito na pumasok sa mga kontrata, tutukan ang ari-arian, at makipagtulungan sa World Bank, na nagsisilbing interim secretariat host at trustee ng Fund.

“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,” ani Legarda. (30)