Typhoon Yolanda or Haiyan in 2013, about 7,000 Filipinos were reported dead, and nearly 30,000 went missing, causing over 95 billion PHP in financial damages (Photo: PNA)
"The Philippines were ready to serve as the voice of the most vulnerable countries in the region and the world," Philippine Environment Secretary Toni Yulo-Loyzaga said on behalf of the president at the United Nations Framework Convention on Climate Change (UNFCCC) a few days ago. Early this July, the Philippines was selected as the host country for the Board of the Loss and Damage Fund (LDF), dedicated to advocating for countries affected by climate change.
Philippines highly impacted by climate disasters
Upon the announcement, Philippine President Ferdinand Marcos Jr. revealed in a X post (formerly Twitter), "out of seven other contenders, we are also honored to have a seat on the Board of the Loss and Damage Fund."
Why was the Philippines selected among many countries? Firstly, the Philippines is severely affected by climate disasters. Located on the Pacific Ring of Fire, the Philippines frequently experiences typhoons and other climate change-related disasters. These extreme weather events disrupt daily life but have also enabled the Philippines to accumulate extensive disaster prevention experience, driving investment in large infrastructure projects such as dams, levees, wastewater treatment plants, and flood control systems.
Secondly, as the host country, the Philippines can focus attention on the Asia-Pacific region, where many countries struggle to cope with the impacts of climate change due to limited resources. According to a 2023 report by the World Meteorological Organization (WMO), Asia is the most disaster-prone region globally, with weather, climate, and water-related disasters, particularly floods and storms, causing numerous casualties and economic losses.
Lidy Nacpil, coordinator of the Asian Peoples' Movement on Debt and Development (APMDD), believes that the Philippines can showcase its political leadership by demanding that developed countries fulfill their legal and moral obligations to compensate for climate-related disasters.
Climate loss damage demand to hit $894 billion
The LDF Committee comprises 26 member countries, including 12 developed and 14 developing countries. Its fund was approved in 2023 at the 28th United Nations Climate Change Conference (COP28) held in Dubai, UAE, with the goal of assisting developing countries in addressing economic and non-economic losses and damages related to climate change.
However, according to data cited by Nacpil, annual climate-related losses and damages are projected to reach between $447 billion and $894 billion. Currently, only $661.39 million in donations have been received, which he deems that “it’s unacceptable”.
Particularly concerning is the United States, historically the largest emitter, which has only committed to funding $17.5 million. The Philippines should be alongside other countries in the Global South, demand trillions, not millions, in climate financing from developed countries.
Source: UNFCCC，Manilatimes，Reuters，Sunstar
