President Ferdinand “Bongbong” Marcos, Jr. has raised the issue of hosting a “loss and damage fund” for countries deemed most vulnerable to the effects of climate change.
This was the highlight of the President’s message to world leaders at the 28th United Nations Climate Change Conference (COP 28) held in Dubai, United Arab Emirates.
In his message, delivered by Special Assistant to the President (SAP), Antonio Lagdameo Jr., Marcos highlighted the “urgency” of the confrontation on climate impact that affects vulnerable communities.
“The Philippines’ call for the immediate operationalization of this Fund to assist developing and vulnerable countries to respond to droughts, floods, and rising sea levels exacerbated by climate change,” Marcos Jr. said in his speech.
“More than just an environmental issue, for us, it is a matter of survival, of justice, and of protecting the rights of our people. Thus, the Philippine Development Plan sealed the national development priorities on accelerating climate action and establishing sustainable and livable cities,” he added.
In 2023, the Philippine government had allotted P453.11 billion for “Climate Change Adaptation and Mitigation for 2023," P889.65 million of which was distributed to local government units (LGUs) for the People’s Survival Fund Project and climate change adaptation projects.
In his message, Marcos also highlighted efforts made by the Philippine government to reduce its carbon footprint.
“We are on track towards achieving a 35-percent renewable energy share in the power generation mix by 2023 through policy reforms that allow more investors in offshore wind and floating solar. We need to protect our forests, our oceans, and our biodiversity,” he said.
The President had earlier decided to cancel his scheduled trip to the COP 28 Summit to monitor the situation of 17 Filipino seafarers held hostage by Houthi rebels off the Red Sea.
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